The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-11-06
LIBEL SUITS IN S|GHI
GEN. POPE SERVES NOTICE OF RE
TRACTION ON THE PIONEER
PRESS COMPANY
vANDIvER AND BIXBY LATER
Statements Made In Connection With
the Savings Bank of st.
Paul Too False to
Stand.

decided to call those who have been libel
ing him during the last few days. He
has served a notice of retractiOn on the
Pioneer Press for an article which ap
peared in the so-called extra" edition
of that paper, which was scattered broad
cast last night, and will serve a similar
document on John S. Vandiver, of the
Republican press bureau, and Tams BiXby
for similar publication which appeared
in a recent edition of an evening news
paper as an advertisement. Following is
the copy of the document which Gen.
Pope. left at the Pioneer Press office last
night:
The Pioneer Press Company, St. Paul,
Minn.-Sir: My attention is called to your
article on first page of an extra of this
date entitled "Depositors Pay Freight"
In thtsearticle you said:
HE Gen. Pope looked the state over
vely carefully and examined into it's fnan-
cial Institutions with view TO finding
something out of which he could make
political capital for his employers"
You further state:
'Mr. Pope discovered that there was
an overdue and unpaid note of M. D.
Kenyon among the assets of the Savings
Bank of st. Paul, and he determined to
expose this fact, even at cost of wreck
ing the institution and impoverishing the
depositors'
Mr. Pope, however, insisted upon a
crusade against the bank and the closing
of its doors. in order to expose the in
debtedness of Mr.. Kenyon"
Mr.. Pope has thus wrecked, it is al
legged, the institution that might other
wise have pulled successfully through,
for the simple purpose Of gaining little
political capital
Those statements are each and every
one untrue, without the slightest justiff-
cation. unless 1t be malice.
START OF THE ACTION.
:. July 9TH, 1899. To E. M Pope, Pub
lie Examiner and eX offfcio Supt of
Banks, and w B. Douglas, Attorney
General of the State of Minn-GentIe-.
men: Whereas, the above named public
examiner has reported to the undersigned
the city of st. Paul ana State of Minne-
scta now IS, and for long line has
been, insolvent; that its savings funds
have been loaned in violation of the laws
governing savings banks; that it has
leaned TO its own trustees and offiC<rs
upwards CT $4,000 Of it's funds in viola
ton of law; that it has paid dividends
under the name and pretense of interest
dividends to it's depositors when such
interest has not been earned, thereby ex-
EauSung its capital and impairtng its as
sets; and that it is now about to pay
out a large sum Of money as for interest
earnings, whereas in truth and In fact
its expenditures and OUTLAWS since the last
dividend payment are largely in excess
of its interest earnings and income from
all other sources; and
Whereas it seems imperatively neces-
Sary. that immediate action be taken,
looking toward the preservation of the
assets of the said Savings Bank of St
Paul and to prevent an unfair distribu-
ton of the same, do, by virtue of the
ssuant, to the provisions of paragraph
four hundred thirteen (413) of the Cen
eeTal Statutes of 1894, direct you, the said
e. M. Pope, as superintendent of Ranks
Immediately upon the receipts hereof, to
take possession of the books, records
and, assets of every description of said
t ntenk ana hold the, same and the whole
thereof pending the application which
Will be made to the district court in
and for the county Of Ramsey, In this
state for the appointment of a receives,
or receivers to take charge of, administer
and distribute the assets of said bank as
the law directs.
And you, the said w. B. Douglas, at
torney general of the state of Mime
sofa, are hereby respectfully requested
to institute such proceedings, looking to-
ward the preservation and distribution
OF the assets of said Bank. and to take
such other action in the premises a S NAV
seem to you meet and proper upon the
report of the said superintendent of
banks, a copy of which has been trans
mitted to YOU. and upon such further
investigation as you may see DroDer
to make of the Banks affairs.
Very respectfully,
tSlgned') John Lind, Governor.
GEN. FOPEs AFFIDAVIT.
The affidavit OF the public examiner
which was the basis of the application
stated that the assets Of the bank were
impaired to the extent of over $780,
000.00, that its trustees and officers had
borrowed the funds of the bank In vio-
lation of the law, to the amount Of s4l.-
619O6, that its current expenses and in
terest were, and for many dividend
periods had been in excess of it's earn
ings and that it was hopelessly insolvent.
At hearing on the 18th of July, the
trustees and officers of the bank an
pealed by counsel who disputed the az
curacy of the valuations of the SUPER
intendent of banks and impugned his
motive. They asked that the court should
examine and appraise the valuation of
the real estate and real estate MORTGAGES
owned by the bank and the other of
which shou'l sppraise the valuation of
all other assets of the bank
waited the reports Of the court COM
mittees until they were presented TO the
court, I give you the valuations at the
date of closing Of the bank, July 7th.