The San Francisco call., 1908-08-23
MOOSfR ADVISES
RETAINING BOOKS
Receiver of Market Street Bank
Issues Pertinent Circular
i to Depositors
Shows How a Mutual Institu=
ton May Be Organized ard
All Money Secured

Looking askanee at the various pro-
posals for reopening the Market street
bank, L. H Mooser, receiver or the in
stitution, issued statement yester-
day advising all depositors who have
exchanged their pass books and GER
tificates of deposits for bonds In the
Market street securities company to
regain possession of the books and pa
pers and not to trust to the schemes
of rehabilitation advanced whereby the
band holders could get nothing for
five years. Mooser suggests that IL
the van ious depositors wish to organ
ize a mutual bank they can enter their
claims against the receiver of such
bank for collection, and as DIVIDENDS
were declared the new bank would
receive them for the credit of each de-
positor who would care to enter Into
the scheme for the formation of lnu-
tual laboring mans bank, which might
possibly be organized.
Mooser's statement was issued yes
terday afternoon and is an answer TO
the rumors that the depositors' asso-
citation is considering joining fortunes
with the Market street bank securities
company.
IMMEDIATE RETURN OF MONEY
In opening his statement Mooser
says:
$50 far as 1 have been able to as
certain, all the propositions looking to
the rehabilitation of the Market street
bank provide large financial gain for
the persons engaged in such rehabili-
tation. They all involve an immediate
return of all money temporarily to be
used in opening the bank and an ad-
ditional profit to be obtained in va
| rious ways, mostly by buying up bank
| books at far less than their value or
| by buying up the bonds of the Market
street securities company at nomi-
nal figure"
| Continuing, he says that the move
| ments are supported chiefly by those
depositors who have retained their
| pass books, since on the day the bank
| opened they will be in a position to
secure all that is due to them, and if
| the bank were not in a position to pay
freely it would have instantly to close
| it's doors again.
ACTS FOR ALL DEPOSITORS ALIKE
! He contends that he is acting for all
| depositors and on that understanding
/ issues the statement and advises in
effect that if the receiver is discharged
and the bank opened the holders of
bonds would receive no return on them
j save per cent interest as it accrues
until five years have elapsed. as there
/ is no provision in the deed of trust
permitting the trustees to redeem the
| bonds until maturity. After showing
how mutual bank might be organ
ized Mooser concludes by advising all
depositors and creditors of the bank to
present their verified claims to the re-
ceiver that they may be in a position
| to participate In any dividend which
may be declared.
/ With considerable warmth the Of
| ficers Of the German savings bank de-
MED yesterday the statement of Secre-
ltary Morris of the Market street bank
/ depositors' association to the effect that
| the German savings bank was con-
sidering coming to the rescue OF the
Market street bank. The report was
unqualifiedly declared TO be false and
without foundation.