The Butler weekly times. (Butler, Mo.) 1881-1918, 1907-12-12
RSCO BANKERS IN JAIL
President Walker and ]. Dalzell
Brown Still In Custody of Cali
fornia Authorities.
hEnEY TO COOPERATE WITH DEpOslToHs
Next Grand Jury to Conduct a Full
Investigation Into the lnsolvent
Trust company's Affairs-otfieials
Are Charged With Making False
Entries-other offenses Alleged.

San Francisco, Dec, 10.-Walter j.
Barnett a director of the insolvent
California Safe Deposit and Trust
company was released Monday on
SIS, 900 bail but ]. Dalzell Brown was
unable to obtain bonds and spent an
other night in the city prison. David
Il. Walker, president OF the suspended
bank is still in custody at Santa Bar
bara. Pending the appointment of a
receiver for the bank, the bank COM
missioners have named Attorney
Charles S. Gushing to act as temper
cry custodian.
The men responsible for the col
lapse Of the California Safe Deposit
and Trust company are not to be let
OF merely on charges of embezzle-
ment. Assistant District Attorney
Francis ]. Heney has agreed to CO.
operate with the directors and will
conduct a full investigation into the
banks affairs when the next grand
Jury 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
1.-The bank made false entries which
made 1t appear that 100000 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
$25S, 900 from an Ogden bank and that
the officials made loans in a manner
calculated to deceive in lending nearly
$4,000 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 il proved will not only in
volve 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. 1t showed
the sum of s9,OOO,OOO due to
the depositors. A brief examination
of the assets showed about s5,OO0,OO(
in property which is considered good
In addition to this there are loans
and other assets which it was thought
might bring In 100000 more. This
made a total Of 100000 of possible
assets against liabilities amounting tt
100000. Other assets which have
been carried on the books Of the com
pany as good were regarded as prac
tically worthless.
The local banking situation Monda.
gave no indication of having been af
fected in the slightest degree by thu
insolvency of the California Safe De
post and Trust company. Business
moved along in the normal way ant
all those desiring money for the con
duct of business on normal lines fount
no difficulty in obtaining it.
The list of stockholders OF the banl
is a long one and includes persons ant
corporations from Paris to Nladivo
stok. A number of small banks in thu
interior are hit by the failure, mostl.
as pledges for the stock in large ant
small amounts. Before the fire thu
stock was quoted at about $3.50. Sine
then it has deprecated to about $40
and it was at about that valuation tn,
PLEDGES accepted 1t.