Rocky Ford enterprise., 1908-01-24
OFFICIAL
STATEMENT
Showing Assets and Liabilities
OF the State Bank
MARKET VALUE OF
ASSETS IS Indefinite
Warrants OF Arrest Served Upon
Bank Officials.
Holding Meetings.

Bank Officials.
Holding Meetings.
There were scventy-hvc OF the 1919
dopositors Of the State Bank present
st Odd Fellows hall when the hour
for meeting arrived last Saturday al
ternoon. But the number more than
doubled in the next thirty minutes,
and BY the timo the meeting was call
ed to order the hall was filled to Us
capacity. They were quite cheerful
lot, Notwithstanding the occasion that
had brought them together. But the
notices printed in the Odd Fellow
ship carpet which Actuary Sloan or
the janitor had failed to take up. on
this muddy day. seemed appropriate
to tho occasion: Relieve the Dis.
tressed;" Bury the Dead" Protect
the Orphan" For despite the good
nature that appeared on the surface
the ere in some eyes indicated that
there might be dead to bury before
:he meeting closed. d.
Nobody in particular seemed to be
responsible for the calling OF the
meeting. but there was feeling that
IL had been inspired by those enter
tlining the notion that criminal pro-
eceding. should be begun against the
bank officers. Those who iei, that
better wisdom consisted IN going
slow promptly brought forward the
public fumof that the bank othcers
had lust the previous night signed
IN a deed Of their personal proper
ties In ,sus; for tho dcposiiofs OF the
lank. and the interest OF the meciin.
was switched to tho question OF what
the deeds represented IN the way OF
values and what they contained IN
the way OF conditions. The commit
tee that former meeting had ehos.
en- TO wal; upon the o.hecfs OF the
bank was asked to fcpof, but they
had no report ready. Geo. c. fFchl,
q member Of that committee was call.
ed for and gave his personal report
OF what he knew pertaining TO the
matter. Mr. Carpenter. Denver
attorney In the meeting. was also
called ~ and after some probing "
was learned In general way that
tru., deeds had been executed late
the previous night. by which tho off
ecf. and also the wife OF tho Ffeti.
den, turned over. TO trustee os
their own selection. what they al
legged TO be all nt their personal prop
city in ;fus; TOT the dcposi,ofs. cot:
di,ionei upon the receivers hnal
settlement showing that tho deposit.
ors did not receive the amount o'
their deposits ln full. a further con-
d;,io,, q. the trust deed was that tho
oit,t,fs OF the bank should IN ennsid'
cfaiier Of the making thereof enjoy
immunity from prosecution fof any
criminal act In connection with
management OF the bank. of which
deposs,oss nigh, deem them guilty.
II was further condition That al
least two years should be allowed 20
c!spsc before such trust deed should
beer me operative as TO the sale OF
iris PERSONAL property. !, being urged
tina, two crop seasons might be need
cd in order to realize urnn the trust
assets to the best advantage.
I, was explained to the meeting by
A,,o,ne, Cstcpntsr OF Denver who
had been called by President God
ding to draw up the instrument that
tho condition regarding immunity
+, from prosecution contained IN the
deed was binding upon ;h7 deposition:
ss far az /; could be made 80: and
Was taken to be at least morally
binding: ,hs; I, had been made az
the special proposition OF Mrs
ding, who had become party TO tho
Trustee fund with her personal prop
crty. I; appeared however ;ha; the
provision was incorporated In all OF
the deeds made.
DR. r NJ. Pollock. Mayor oi tho
city. had been made the Trustee and
tho deeds had been promptly ptit on
file with the county recorder There
was rn copy OF tho deed before. the
meeting. and It was only by a long
course ui questioning and debate
that even this general knowledge ct
it contents was brought out BY the
meeting
The popular estimates made iu the
meeting Of ;hc taiucs represented by
tho deeds tutaicd up S,n.sco. OF this
sum there vas already legally avail.
able to the Receiver pf the bank all
but the property Of Mrs G"tit'i".
which tho meeting estimated al sin,-
600
Attorney Carpenter. iu answer TO
questions said the trust decd IN its
terms made the dcpositors OF The
bank a party to its conditions. ti'
raised a storm OF indignation and the
agreement was rcpudiatcd with an
unanimous no
All the formal action taken by the
meeting was a motion that the chair
name tvc of the depositors as a
committee 20 look after the interests
of the dcpositors in any directions
they could property and legally
so, without, interference with or ref
crcpec 10 the judicial work of the Of
fetal receiver of the bank.
The meeting then adjourned till
next Thursday.