Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-12-28
DEPOSITORS Of
DEFUNCT BANK
hold Meeting and Give Account Of
Conditions That Led TO the
Crash.
cry SERIOUS CHARGES MADE.
Receiver Anderson Makes Dramatic
Statement--chslrman Grunfor's Re-
pOrt--Wlll Hire Lawyer

@Ht~HN
The third meeting OF creditors of the
defunct sehettler bank was held IN the
Hooper Edredge building last night
The attendance was fully an large as at
any previous meeting, and the first def
mite steps were decided upon with but
little difference OF opinion
The meeting was presided over by
Chairman Gruntor. In calling the as
eembly to order he stated that at the
last meeting he had been directed to
appoint committee Of i've to look into
the affairs OF the bank. and report at
this meeting. lie then rendered the COM
mlttoe's report. This was followed by
a decision to levy an assessment Of 10
cents per 800 ON deposit az a fund
to employ legal assistance IN lighting
the suits now pending against Banker
echettler and his family, The discus
sion Of whether or not to commence
criminal action against the erstwhile
banker was decided IN the negative, on
account OF the fact, as explained by
Chairman Grunfor, that the books OF
the bank are in such a muddled condl-
ton that the presence Of Mr. Schettler
Is needed CONSTANTLY by Receiver An
derson TO enable him 20 bring order out
Of the chaos Of accounts.
The final feature OF the meeting was
Isr faT gf
suit fled against seven members Of the
schettler family, TO recover three pieces
OF property decided by Sohetter to dif-
ferent members OF his household for
nominal amounts, The complaint con-
tanned the surprising statement that the
bank was insoyent ~ 1897 and had been
30 for some years previous to that time,
The receiver paused broken down by
emotion, as he read this statement. and
had to turn away from the assembly
for moment TO regain HIS composure,
lie then proceeded with his voice ohOk-
ing with emotion after stating that he
was ashamed 10 be compelled 20 make
the admission which the facts demand
ed OF him,
ALL SIGNED A PLEDGE
The meeting broke NJ after each
member had signtd a pledge to pay the
assessment levied. About si5 was sub
scribed which represents deposits OF
$4,000 out of the $4,000 In the bank
when II failed.
CHAIRMANs REPORT.
The assembly was called to order at
o'clock, in making the report OF the
committee Chairman Grunfor said that
he had looked into the inside OF the
banks affairs through the courtesy OF
Receiver Anderson and that he had
found them IN badly muddled condl-
ton. 'All we can get now, out Of the
prsont listed assets" he declared. rs
about % cents on the dollar. II Re-
celver Anderson Is successful IN the
suits which he has filed, that will add
another 40 or A. per cent, making q
total OF about 65 cents on the dollar,
which Is the very best we can look for.
CONFIDENT OF OUTCOME.
AS 70 this property am convinced
that the suits viii be won. schettler !
decided away this property for 81 as a
consideration In 1853, but he kept the |
deeds unrecorded, and got our money !
and our faith IN the belief that this
property was held IN his name. as the |
records showed. He had the deeds |
which he could destroy n he wanted !
the property, or file n he needed to get |
II out OF the way, His family has made |
rich thing out Of this. !
One member we have sent TO |
Europe for an education. For his sons |
we have built homes, and provided |
property, and now we are asked to |
leave q fortune to his wives. One |
piece Of property he decided 10 hts Hife /
for a consideration OF ST. and later she |
decided II back TO the bank for $4,000, |
about twice It's value az the present |
time, schettler has looked out for his |
family. We must now look out for our
interests. ] propose that we levy an |
assessment Of five mills on The dollar
or 50 cents on each Si00 which ought |
TO give us a fund Of $3.50 In cash, to
fight this case.
BLAMES THE STATE.
Il really think the state Is more TO
blame than Mr.. Schettler. II knew his
condition, and II let him run on year
after year In violation OF the law, TAX
Ing money from poor people who had
worked hard TO earn II that they
might have 1t stored up for their old
age"
The report was adopted,
CRIMINAL PROCEEDINGS.
Frederick Inevnlt then took the floor.
and said that he was much opposed 10
the apathy OF the prosecuting attorney
Tor the state In dealing with this mat
Ter He said he considered that he was
shrinking from his duty. III no one
else commences criminal proceedings"
he declared, II will, for this banker took
Slso nom my wife just few days be-
Tore he went into the hands of a re-
celver. | know that when he took
the money It could not ba gotten back.
lie asked for so days when money was
asked for, and at the end OF so days
declared that previous request had new
er been made, and demanded 90 days
JOHN BECK'S CHARGES.
John Beck followed with a careful
speech, IN which he outlined a course
OF action which he recommended
.Nt~ffiNN AfhHh'l .sil'lllNlf nave lhu I
dealings with him. he said, "in which
he treated RE dishonesty and II those
cases were pushed they would land him
N the penlientlary. one Of my relatives
had her savings OF 10 years IN that
hank, and there Ia much that IL myster-
lols about IT, condition. think every
pressure ought 80 be brought 10 bear
10 bring forth the money that must
nave been hidden away for the person.
~ benefit OF the Schettlor family
mink that under pressure OF criminal
proceedings he would give up some OF
this money, and am IN favor Of hiring
a lawyer that viii fight 10 bring such
proceedings Receiver Anderson has
called the lawyers hounds, What We
need IN this case II hounds-hl
hounds TO smell out the trail OF the
thief
WANTS MONEY FIRST.
This spoeph hrouf,hf Forth, az, n,,,i,o