The evening times., 1902-07-03

The next step in the American Saw
ings Bank case viii be the issue of q call
for meeting of the depositors and other
creditors. The date Of the meeting has
not yet been definitely fixed. hut counsel
for the receivers stated today that it
will be in the near future.
The complaint filed yesterday by the
receivers, Charles T. Carusi. Tracy /.
SSnords, and Alexander Wolf against
William Oscar Roome. president Of the
bank; Marie Paret 8Iercier, Nicholas T.
HaIleT. Charles W Powers, Edgar 3.
Stocking, William n Harris, jr-. VII
liam B. Matthews, Leverett T. EngIesby.
Charles n. Wake, George P Robinson.
John H Mccormick, Joseph Haller. and
George T Parker, directors. asking for
an accounting, alleges to set out sue
cinetly . history Of the transactions of
the institution from its inception TO the
time it was put into the hands Of the
receivers.
The bill states that Immediately upon
its organization in December. 1887. this
corporation began business in the Dis
triet Of Columbia; and thenceforth until
1t was placed n the hands Of receivers
by this honorable court. the said Amer
lean Savings Bank had its only Office
and place Of business. kept its books.
papers and records, and carried on all
its business on the ground floor Of prem
1ses No 1907 c Street northwest. in the
city of Washington.
Roome Given Control.
The board Of directors of the said
bank, having the general control and
management OF its affairs, consisted of
the defendants. William Oscar Roome.
Edgar B. Stocking, William NJ Harris
il, William Il. Slater, ard William H.
Myers
This board, by bylaws adopted at
It's first meeting, placed the control aDd
management Of the business Of said bank
N the hands Of an executive committee
OF three persons. composed Of the said
defendants. William Oscar Roome. Ed
gar B. Stocking, and William N. Har-
ris, jr. And the said William Oscar
Roome was likewise elected president
and the said Edgar B. Stocking vice
president, and William N. Harris II
erected secretary and treasurer and
cashier Of the said bank.
The entire capital stock of said haat,
consisted Of S270, the remainder of the
supposedly paid up cash capital of $50
VVV being made up Of demand promfssorv
notes OF the said Roome and his asso-
clates, as follows: The demand note of
william Oscar Roome for S27, coo. the
demand note Of Nicholas T. HalIar for
$4,000, the demand note of Jobn q
Myers for $4,000. the demand note OF
Charles u. Powers for $500. the demand
note OF William NJ Harris. il. for $3.50.
ana otheT notes Tor smaller amounts of
other persons. aggregatfng S49, ,78g.
Not Cash Payment.
In order the more efTectually TO con
ceaI the true purport Of this transaction
and give 1t the falIacious and de!Usfve
appearance OF cash payment and 70
furnish them with a pretense Of having
complied with the law regulating the
stock Of such corporation, the said de-
fendant Roome. with the knowledge and
concurrence of the executive committee
Of the said bank on OF about December
y, 1897, few days after said bank be
FORM
Of discoUnting his demand note for s2T -
0o0, and so credited himself with that
amount ThereupOn he transferred such
paper credit 10 the bank as Il IN nav
n1ent by cash Of the stock issued to him
self
TIE result Of this manipulation OF
bcJKEeeping was TO give said bank a
falss appearance OF having received s27. -
Coz, il cash in purchase Of stock: where
as In truth and in fact there was no such
money in the bank and the said stock
was issued BY said Roome as president
10 himself upon his own credit. and
without actual consideration. the bank
receiving thereto nothing but his mere
promissOTy note. payable on demand
The same process was gone through
with the demand notes Of HalIer and
Myers for 10000. as well as with most
OF the smaller notes remaining, tho re-
salt bssng that the bank was given the
false appearance Of having received SEE
coo IN cash, whereas no such sum had
been received
Notes Were Never Paid
These demand notes Of the said VIII
liam Oscar Roome and Nicholas 7. Hal
Ier. executed in 1857. passed wholly IN
raid into the hands o. The complainauts
ElED. as receivers, tEiEE &s-St-i-4tA tldFEt
OF said bank With the exception CT
about $I.620 credited as interest on
RooEe's note for 81 ,0C0, 10 money was
ever actually paid upon them. the re
naming credits for interest and lin the
case Of the Roome note) for the partial
payments aggregatiug $4,000, which ap-
pears upon said notes, are false. being
merely credits entered by means OF the
further discount OF other equally worth
less paper. which also passed Into the
hands of your complainants unpaid
Neither the said Hallcr. nor the said
Roome. although demand for the pay
rnent Of said notes was made Uuon them
after the said bank passed into tho.
hands Of receivers, has paid the said
notes, or any part OF them, or offered or
proposed either 10 pay them or 10 secure
their payment. although the said RO0me
and the said Haller both know that the
said bank is lnsoIvent and clearly in
debted 10 its dcpositors in an amount
exceeding $40. 900 for the liquidation
whereof Ii is without assets
Your compliments, therefore, be-
Iieve and aver and charge that the said
notes we're made by The said RooUe and
the said Hallc-. as makers, and by them
ard the said Powers. as the executive
co----ftteo OF the SAID bank taken AMI
s.~-c3t-d with thc fuU knowledge 0f
their wo-thlessness, Il pursuance o. q