Semi-weekly herald., 1908-08-10
SOME PLAIN FACTS
REGARDING BANK MATTERS
Duly sworn to and verified.

The professions coming from the
receiver of the Colorado State bank.
through the paper he has been hob
nobbing with, being closeted many an
evening in the Democrat office, that
| the only desire was to have depositors
| paid dollar for dollar and that with
| this done there would be no charges
for the receivership, prove to have
| been the thinnest kind of hot air, and
depositors now realize that what The
Herald said about the cost of receiver
ships was no idle dream. In the first
| place the current expenses have run
| high-$500 to s7OO per month and now
| that the men who are backing Mr..
| Freeman want to know what is to be
paid the receiver and his attorneys
they are turned down. So anxious are
the bank officials to wind up the af.
fairs of the bank that they even agreed
to place in the hands of the receiver
$4,000 in notes and secureties classed
by Mr.. Boyle as good, leaving 1t to the
court to fix reasonable charges, and
this suggestion of the court and ac-
| ceeded to by the attorneys in behalf
of Mr.. Freeman and his associates
was scorned and in lieu demand
made for nearly $4,000. And. Mr.. De-
positor, you would have your money
| dollar for dollar within ninety days
had the proposition of Mr.. Freeman
been accepted whereby 1t was agreed
TO put up $1,000 in cash to guarantee
the payment of the receiver. The Her
| aid Is not impugning the motives for
this action, but we have a right to
state facts. The Herald, along with
| every business man with whom we
have conversed, hold that even s3.5O0
would be an excessive charge. When
the depositors met to discuss the
matter of receiver after the closing of
the bank it was their understanding
they had some rights in the premises
and 1t was unanimously agreed that
the expenses should be kept down and
1t was agreed with those recommend
ed for receiver. capable and worthy
men, that their charges would not
exceed $3.50 per month.
1t is said the proposition presented
by Mr.. O'Donnell was not accompanied
by bond. Such talk Is bosh. All that
was necessary to settle disputes for
all time was to accept one of the
propositions and then If the bond was
not forthcoming The Herald and 9th.
ers backing Mr.. Freeman would step
aside and say push the cases against
them. The Herald will not stand for
any foolishness on the part of the
men 1t has been defending. We have
been honest in our desire to secure
dollar for dollar and we stood ready
to forfeit $1,000 IL Mr.. Freeman failed
to carry out his part of the program
Depositors distinctly remember the
meeting at Red Men hall Immediately
after the filing OF the receivers first
report and the poor showing made and
Mr.. Boyle's statement that he coulc
: not see where over 10000 could be
collected from stockholders. These ar,
facts of record. The depositors pres
ent also remember that Mr.. Boyle sale
: his stock liability Of $1,000 would b,
forthcoming, etc. Compare that meet
ing and the daily statements of tn,
Democrat that the receiver would no
: charge dollar with the position as
+ sumed the past few days when Denve
E people come to the front willing t,
s back Mr.. Freeman and take over th
+ alleged doubtful" and worthless" ae
4 counts and put up good money SO dc
4 positors take NO chances.
Mr.. Freeman has never had any fea
l. OF being convicted on the crimina
b charges preferred because the collie,