Los Angeles herald., 1907-12-11
j. u. BROWN
UNABLE TO
SECURE BAIL
SILENT AT MENTION OF THE
COTTON ESTATE
pEPosIToRs FORM oReANlzA-
TIoN FOR ACTION
Amid Driftwood OF San Francisco,
FastidIous FInanoier Is Forced
to Remain In Cell In
City Prison
BY Associated Press

BY Associated Press.
SAN FRANCISCO, Dec. 1o-J. Daizeh
Brown, general manager of the suspenu-
ed California Safe Deposit & Trust COM
nanv spent another day behind the bars
of the city prison, because OF MS IN
ability To obtain a bond for $4,000 Tor
his release on charges of embezzlement.
Brown was hopeful of release all oay'
ana confident that he would be 1ree
man before night, but he was doomed 10
disappointment.
Tonight. through his attorneys ne pre-
sented a bond for $4,000 to superior 1uuse
Dunne The bond was furnished by the
Aetna Surety company. Judge dunno
refused to accept 1t and Brown wae
compelled to pass another night IN the
city prison Judge Dunnes reason loi
rejecting the bond was that the surety
comnanv had already furnished large
number of bonds for defendants In the
graft cases. and that it had reached, In
his opinion. the limit of it's capaclty as
a guarantor for the appearance Oh oe-
PENDANTS.
Tonight the well groomed and suave
banker again occupied dingy cell sur
rounded by common felons, drunKs anu
the derelcts and driftwood of great
citv that floated in during the night.
arv and crowded city prison affords
cell in the female ward-it neverthe-
less was in sharp contrast to the quarters
which the financier has been ac-
customed to.
The accused banker, however, seemed
TO adapt himself readily to his new
SURROUNDINGS, and the ribald noises ana
the clamor of iron doors ana gates oiu
not appear to disturb him.
Brown was ready to talk upon the
conditions of the suspended bank, over
which he presided and which he still IN
sists is solvent but became silent when
the disappearance of the Cotton estate
securities was touched upon. He denied
that president Walker had borrowed
s75O0OO from the bank, and this denial was
corroborated by Bank Commissioner
Lynch. who states Walker had TO ms
credit $4,000 deposited in the panK.
Walker Arrives
David f. Walker the aged president OF
the collapsed trust company, accompanied
bv his wife, son and daughter, arrived
about midnight from Santa Barbara, IN
custody of Detective Sergeant duncan
Matheson, of the local police Depart
ment. :. 80
The hank commissioners were In con-
ference with Attorney General U. S.
wehb this afternoon Beyond stating that
the situation looked more hopeful the
commissioners declined to make known
the purpose of the conference.
Governor Gillett arrived from Sacra-
mento and was to have conferred with
the bank commissioners this afternoon IN
regard to the defunct bank. and the gen
eral financial situation in the state, but
was detained until late at a meeung OF
the reg. ats of Tie University at Berkeley.
Later tonight ne met some VI ehe ooii
missioners.
q s. Gushing, special custodian OF the
trust company, appointed yesterday by
naming of receiver today commenced
an examination of the affairs OF the
hank and its four branches. He ex-
meets to complete the checking up by to-
morrow afternoon.
Bartnett in Seclusion
7. w. Bartnett, former vice president
and director of the corporation, who Sc
cured his release on a bond Tor Sio,oOO'
yesterday. remained at his home in
Marin county today and did not come to
the city.
Assistant District Attorney w, Hoff
Cook is looking into the Affairs of the
hank and examining the acts of some OF
its OFFICIALS. with a view of ascertain
ing whether there is evidence on which
further criminal proceedings may be
brought.
A small group of men and women, re-
nresenting 200 out $4,000 depositors, braved
q driving rainstorm this morning, ana
met at the Dreamland rink. A COM
mittee was appointed to meet other as
sociations of depositors with view or
uniting in one organization for the pur-
pose of taking concerted action. 1t was
presided over by Charles H. O'Callaghan
an attorney. who urged those present not
10 assign their bank books to any as
ISOLATION or committee of depositors un-
iii after the affairs of the bank had been
more closely examined. He did not think
the banks condition is as severe as re-
ported, and he advocated the calling or
a general mass meeting of depisitors.
A much larger group of depositors,
headed by ]. w. Raphael, prominent
local merchant, met at the Dreamland
rink tonight.
Directors Must Go
This morning a meeting was held by
stockholders of the insolvent California
Safe Deposit & Trust company in the
Merchants exchange for the purpose of
providing means to meet the obligations
of the banking company. 1t was de-
cided that an assessment should be levied
on all the stockholders. At this meeting
there was represented $4,000 shares of
stocks. This did not include any stock
held by directors, of which ]. Dalzell
Brown holds 5000 shares, while Presi-
dent Walker has 5000 shares
A number of outside institutions, such
as the Bank of San Leandro, banks at
Mana and Alameda which held stock,
were not represented. -
A committee was appointed from the
stockholders to ask for the resignation
Of the present board of directors. 1t is
the intention of the stockholders to in
stall a new board of directors and sup
plant J. Dalzell Brown as manager Of the
institution. The demands of the stock
holders will also be to remove DAVID
n walker president, w. J. Barntett,