The record-union., 1899-02-08
An Exciting Meeting Of Deposltors
Held Yesterday.
Some Of the Shareholders Not In Good
Grace With the Losers.
A Chorus Of Noes Goes UP When
Motion is Made Permitting
Stockholders to Serve on a Gen
eral Steering Committee.

SAN JOSE, Feb. THE meeting OF
depositors of the Union Savings Bank
this morning, although only few
hours notice had been given, was
largely attended. The hall where the
meeting was held will accommodate
comfortably about 800 persons. This
was packed to suffocation almost, and
it was estimated that between 300 and
$50 people managed to crowd inside the
doors.
All classes of citizens were represent
ed, including the working girl with her
few dollars of savings gone and the
man of means who had his large sum in
the bank Some impassioned speeches
We're made, and the deep feeling of the
depositors was plainly in evidence.
While those present generally did not
seem to know just what course to pur-
sue some cool heads managed to steer
clear of total chaos and start business
fairly we'll Still, there is much to be
done yet to guide the depositors clear
of the rocks of discord, since the meet
ing developed a wide divergence of
opinion as to what action is best. At
one time it looked as if some share
holders who had gone into the hall
might get pitched out bodily. This came
out when a motion was made which
would permit a general steering COM
mittee and general shareholder who is
also a depositor.
A depositor called attention to this
in impaseioned words, declaring that
the stockholders We're in the meeting
and were endeavoring to capture it.
Several lawyers in a small way were in
the gathering, and they instantly be-
came objects of suspicion. A chorus
of noes went up to prevent any share
holder having any part in the meeting.
One shareholder said he was depos-
itor as we'll as shareholder, and
claimed the right to be heard. He got
scant courtesy, apd was quickly shut
Off
1t then became apparent that depos-
itors, as such pure and simple. were
overwhelmingly in the majority, and
they read the riot act to all others by
practically saying to them they were
not wanted. All this was done so
plainly and positively that no share
holder or representative ventured to
appear again.
With this much settled, business
moved more rapidly. Professor c. w.
Childs had been made Chairman and
c. T. Witten Secretary
motion to appoint a committee of
seven to confer with an attorney or
attorneys and select some name or
names to present to the depositors was
made. The committee was also to re-
port generally on whatever was deemed
of interest to the depositors. 1t was
the discussion of this motion which
brought out the incidents already de-
tailed
The general tenor of the remarks
made was in. condemnation of the bank
officers for keeping them in utter dark
ness as to its true condition. 1t was
declared frequently that depositors had
been deliberately deceived, and I'VE
don't know how We stand. Assets are
constantly dwindling at each report we
get, from whatever source possible.
If we are to get our money back we
must act"
The committee of seven was finally
selected as follows: S. F. Moore of
Gilroy, Fl. Prindle, l.. Barnheisel, H. T.
Besse, F. NJ. Britain, E. c. Rodwick
and c. W. Chids of San Jose. Each
was called on to state if he held any
stock, and each declared in the mega
tive.
1t was decided to meet at 10 o'clock
tomorrow morning to hear the report
OF the committee. 1t was also ordered
that none should be admitted to the
meeting save on their passbooks. A
doorkeeper was appointed to see that
this was enforced A few said their
books We're locked in the bank They
were told that provision would be made
for them If they could not secure their
books
A committee of two was appointed to
secure a larger hall. when adjournment
was taken till tomorrow at 10 a. m.
Many orchardists were in attendance,
and gossip among them is that share
holders are shifting their property.