The Mena weekly star., 1907-12-12
FRISCO BANKERS IN JAIL
president Walker and J. Dalzell Brown Still in Custody of Cali
 fornia Authorities.
ufNEy TO COOPERATE WITH DEp0sITQRs
Next Grand Jury to Conduct Full Investigation Into the lnsoIvent Trust company's Affairs--officiaIs Are Charged With Making False Entrles-Other offenses Alleged.


 San Francisco, Dec. 11.-Walter J. parnett a director of the insolvent california Safe Deposit and Trust company was released Monday on s75 900 bail but J. Dalzell Brown was unable to obtain bonds and spent an other night in the city prison. David Walker, president of the suspended hank is still in custody at Santa Bar. bara. Pending the appointment of q receiver for the bank, the bank com missioners have named Attorney Charles s. Cushing to act as temper. ary custodian.
 The men responsible for the col ,anse of the California Safe Deposit and Trust company are not to be let on merely on charges of embezzle- ment. Assistant District Attorney Francis J. Heney, has agreed to CO operate with the directors and will conduct a full investigation into the hanks affairs when the next grand iury is impaneled. This will take place before the end of the month. The inquiry will include an investiga- ton into the charges that officers of the bank made false entries which made 1t appear that $200.000 had been loaned to two New York banks when the money had never been forwarded; {; that the officers received deposits when they knew the institution to be Insolvent, including the deposit of s253.Ooo from an Ogden bank aud that the officials made loans in a manner calculated to deceive in lending nearly s50O,OO0 for the purpose of the Car negie Brick company. one of the insti- tution's industrial companies.
 All of these constitute statutory of. lenses and if proved will not only in- yolve the men already under arrest but others who co-operated with them.
 A long statement setting forth the assets and liabilities of the company was presented to the stockholders Monday. It showed the sum of $9.000.o00 due to the depositors. A brief examination of the assets showed about $5.000, 900 in property which is considered good. In addition to this there are loans and other assets which 1t was thought might bring in 2.0oo 900 more. This made total of s7.o00.000 of possible assets against liabilities amounting to ss000,000. Other assets which have been carried on the books of the com pany as good were regarded as prac- tieally worthless.
 The local banking situation Monday gave no indication of having been af- fected in the slightest degree by the Insolvency of the California Safe De posit and Trust company. Business moved along in the normal way and all those desiring money for the con duct of business on normal lines found no difficulty in obtaining 1t.
 The list of stockholders of the bank isalong enc and includes persons and corporations from Paris to Vladivo- stok. A number of small banks in the interior are hit by the failure, mostly as pledges for the stock in large and small amounts. Before the nre the stock was quoted at about $50. Since then 1t has depreciated to about s100 and 1t was at about that valuation the pledgees accepted it.