Semi-weekly herald., 1908-02-06
A PROPOSITION FOR
SERIOUS CONSIDERATION

tertSi III tTylHg 10 Stcuft Hu aHilcduie
settlement of the affairs of the Colo
RADIO State bank, and II Is very graft
flying 10 know that OF the blanks being
returned to Harry Jackson. 80 per
cent favor the propositi0s. fhe
morning after Receiver Boyle made
his report the Democrat commented
MS follows:
AT best 1t does not promise over
40 per cent gross. and in all like
lihood not over 30 per cent gross
returns to the depositors. This
is the hest judgment of the re-
ceiver, who has been painstaking
In his labors to make the best
showing possible under the condi-
tions.
Up to this time The Herald had not
taken any part in the premises. But
II did not take long to get busy.
Messrs. Freeman and Chapman were
waited upon and informed that they
must make every sacrifice possible
and long hours were put in figuring
out propositions with the advisory
committee. Upon the showing of Mr.
Boyle at the depositors' meeting three
weeks ago the committee was unan-
imously authorized to continue in har-
ness and see IL some arrangement
could not be brought about whereby
depositors would stand a better show.
This committee put Ia vast amount
OF time free of charge. Every phase
of the question was gone over, finally
the committee agreeing to PROPOSE
tion the members believed will get
depositors their money dollar for dol
lar. Since the publication of the
agreement every effort has been made
by the Democrat to keep depositors
deeprooted conspiracy does not ad
nit OF doubt because the Democrat is
not in any fight purely for glory.
Some have endeavored to make out
that the agreement is not binding. II
it is not binding The Herald will have
nothing to do with 1t. We are in
dead earnest when we make the state
ment that rather than be made a
present of $1,000 or $4,000 in gold
we would rather have the depositors
paid in full. The gold would be small
concern to the writer compared to the
consolation 1t would afford depositors
to receive their money.
Again, we say 1t with honest fervor
that If we had the choice of two
things, the payment of the bank de-
positors their money dollar for dol
lar or being continued in the Durango
postoffice for life, or any other posi-.
ton within the gift of the state, we
woild say. Let the depositors have
their money"
Again, the present Herald manage
ment eexpects to be doing business il
Durango and this southwest section
for many years, death not interfering
TO face a single depositor If we were
not in earnest in backing up the ad
visory committee in its estimation
and belief II is claimed by the ire
sponsible sheet that the agreement
does not bind. We say 1t does. The
property to be decided to the receiver
becomes absolutely the property OF
the bank assets at the expiration oi
three years If depositors are not paid
in full by that time. Not only that
the net income from the bank building
goes to the depositors. And We make
this statement-that should Messrs
Freeman and Chapman fail or refuse
to carry out any of the provisions oi
the agreement right down the line
this paper and the advisory committee
will denounce them and seek to have
them ousted. If there are loophoes
in the present agreement let them be
made known and The Herald will in
sist on every possible misconstruction
being cut out.
To this end the advisory committee
called a meeting OF depositors to pub
licly take this matter up and hay,
everything thoroughly discussed. Tn,
committee. along with Messrs. Free
man and Chapman and the attorneys
will be on hand. AS before stated
there is nothing to cover up.
In this connection The Herald has
no fault to find with any deposition
who, of his own free will. is opposed
TO the proposition. but there is con
tempt on every hand for the individ
ual who is not a deposition or owes the
bank, who is exerting every EFFORT tC
frnstrate the carrying out of propo
sition that the advisory committee
carefully studied and approved.
There are a few depositors who be
lieve that by holding ont they will Sc
cure the same terms and even better
and two or three may be for sending
the officers of the bank to Jail without
any consideration for their fellow de
positors or what they get out of It,
Again, a few have been led to be
lieve they will be able to secure their
money by suing the directors individ
ually. Well. they may, but we have