The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-07-13
WILL WAIT RESULTS
SAVINGS BANK DEPOsITORs HAVE
ANOTHER MEETING AT AS
SEMBLY HALL
INCREASE THEIR COMMITTEE

And Decide to Let Matters Remain
In Status Quo Until the Reports
of the Special Committees of the
Court Submit Their Report to
Judge BriII-A Good Deal of
Talking.
DepoSitors Of the Savings Bank of st.
Paul to the number of 600 attended a
meeting at Assembly hall last evening.
Admittance to the hall was denied those
who could not show deposit book. About
one-fifth of the audience were women.
Little business was transacted except to
increase the committee appointed at the
meeting on Sunday from FIVE to fifteen
and instruct the committee to report as
fully as possible at an adjourned meet
ing to be held on the evening of July 20
at the senate chamber in the capitol A
resolution which was offered expressing
a vote Of confidence in the officers of the
bank was objected to and after some dis
cussion withdrawn.
Former Judge J. ]. Egan presided, and
after explaining the action taken at the
AAAOSlAA1S VI Tie uSpOSltOrS Oh OuHQo-y SAID
the depositors owned the bank and all
its property and were vitality interested,
especially when the state officials had
filed a petition in the court stating that
the bank was unsafe. 1.-The depositors
are anxious to know, Is our money safe?
VIII We get 1t back? When? All of 1t
or how much of it? What are we to do in
this impending and terrible crisis?"
AS an answer to these questions the
chairman called upon the committee ap-
pointed at the meeting Sunday.
John H. Stryker, as chairman of the
committee, said there was nothing to
say except what had been reported in
the press. The committee had been in
structed to secure a continuance as to
the appointment of a receiver. This had
been done and Judge Brill had appointed
a committee of three bankers and three
real estate men to report on the assets
of the bank. This report would be made
to the court July 20 1t would be well,
he said, to keep their opinions in allegiance
until after the report of the committee
appointed by the court. 1t was unWise to
pay attention to rumors or statements
made concerning the affairs of the bank,
as it would take several days before the
committee would report as to the condi-
ton of the bank.
Franklin H. Griggs, another member Of
the committee, corroborated the state
ment of Mr. Stryker, and advised that the
depositors await the report of the COM
mittee appointed by the court.
S. P. Childs, another member of the
committee, suggested that It might be
we'll to select some place where depos-
itors could secure informa ton.
Chairman Egan said he had received
bill for $40 for the use of the hall for
the meeting of Sunday and the present
meeting. He considered the suggestion
of Mr.. Childs a good one that some Of
flee or room be secured where depositors
could be given information. He had no
ticed that circulars distributed about the
hall announced that some firm would put
up accounts against the bank. This was
matter for the depositors to exercise
their own judgment about. The hall rent,
however, should be attended to.
T. Timothy Reardon-The chairman will
attend to that
P. ]. Mcdonald said he had few ques-
tions which he would like some one to
explain. The bank in its figures stated
that there was among the assets $50, GOO
in tax certificates. These had been
scaled down by the bank examiner to
$31, 600 He had an idea that these were
good assets and did not understand why
the examiner had divided the amount by
sey county.
A depositor from the rear of the hail
shouted, 1.-THE clerk is from Minneapo-
lis
Timothy Reardon-There is no question
but what the examiner went in to wreck
the bank. There are assets enough in
the bank to pay dollar for dollar, and we
should pass resolutions tonight declaring
our confidence in the officers of the
bank The talk of Mr.. Reardon was
greeted with applause from the audi
ence.
Continuing his request for information.
Mr.. Mcdonald said the bank officials re-
ported 81, 900 due from other banks This
amount the bank examiner had reduced
to $4,000. There was something wrong
about this, Mr.. Mcdonald said, for if
other banks owed the savings bank ST.
600 then there was no way that it could
| be reduced to $4,000 unless the other banks
were not good. This he did not believe
He favored a resolution giving a vote of
confidence to the bank officials and op-
posed the appointment of a receiver
A ]. Van Soelen-How about the $45 900
that the bank officers borrowed from the
bank? The bank examiner charges the
officers with unlawful acts. How about
that charge?
Mr.. Mcdonald made no reply to the
question of Mr.. Van Soelen, but Thomas
Cochran said he would like to ask a
question or two
Some one asked if Mr.. Cochran was a
depositor, and that gentleman said mem
bers of his family were, and that he had
three deposit books in his pocket Mr..
Cochran inquired if the depositors were
under any obligation to pay the mem
bers of the committee. Chairman Egan
said there was nothing even suggested
about payment to any member of the COM