The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-11-06
LIBEL SUITS N S|GHI
- ~
GEN. POPE SERVES NOTICE OF RE-
TRACTION ON THE PIONEER
PRESS COMPANY
vANDIvER AND BLXBY LATER
Statements Made in Connection With
the Savings Rank of st.
Paul Too False to
vANDIvER AND BIxBY LATEl


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 a 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 tffstarticle you said:
He Gen. Pope looked the state over
veI carefully and examined into it's ffnan-
cial Institutions with a view TO finding
something out of which he could make
political capital for MS employers"
You further state:
Mr., Pope discovered that there was
an overdue and unpaid note of NJ 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."
crusade against the bank and the closing
Of it's 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 justif-
cation. unless 1t be malice.
START OF THE ACTION.
July 7th, 1899 To E. NJ 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 Mime
scta now IS, and for a 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 its funds, in viola
ton of law; that 1t has paid dividends
under the name and pretense of interest
dividends to its depositors when such
interest has not been earned, thereby ex-
hausting its capital and impairtng its as
sets; and that it is now about to pay
out 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-
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, I do, by virtue of the
power vested in me, under and pur-
suant to the provisions of paragraph
four hundred thirteen (413) of the Gen
eral Statutes of 1894, direct you, the said
-. M Pope, as superintendent of Banks
Immediately upon the receipts hereof, to
take possession Of the books, records
and assets of every description OF said
bank, and hold the same and the whole
thereof, pending the application which
Will be made to the district court in
state, for the appointment Of a receiver
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
or the assets of said Bank, and to take
such other action in the premises as may
seem to you meet and proper upon the
banks; copy of which has been trans
Hi1 lIsdee, 70 you. and upon such further
IN t1V galta nc "a as you may see proper
Very respectfully,
(slgned-) John Lind, Governor.
GEN. POPEs 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,
00O00 that its trustees and officers had
borrowed the funds of the bank In vio-
lation of the law, to the amount Of s4l.-
619.06 that its current expenses and in
terest were, and for many dividend
periods had been in excess of its earn
ings and that ii was hopelessly insolvent
At a 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 shnlId
examine and appraise the valuation of
the real estate and real estate mortgages
owned by the bank and the other of
which shou'l eppraise 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 It'll
Real estate .................... sso5 a29s &
Mortgages ...-........ ...,....... s14, $50 81
Total ................ ........ 81, 1874, $50 50
of R Bank Committee nRilgs
Real estate .$2I5,074 AZ $27l $50 Oc
Mortgages .......... 2s2,753 90 267. 67I 80
Other assets ......- a7,a2 n S12. 23t SO
Total .ss75.s4O II $S5s, oS5 s.
The foregoing statements are strictly
true. but incomplete as an answer tc
your editorial article.
/ add for Yous. information and that of