Semi-weekly herald., 1908-02-10
pEposiToRs ARe ALMOST uNAN-
iMOUS.


In response to the call OF the chair
man. depositors of the Colorado State
bank probably to- the number OF $50,
met at the court house last evening
1t was a meeting that win long be re-
membered.
AS per announcement In The Her
aid, the full committee. consisting oil
Chairman jackson and Messrs. Casey
and Pulliam. along With F. r. Graham.
who has been acting for Mr.. Pulliam
in way of signing. along With Messrs.
Freeman. Chapman and Edredge, and
others interested. were present to ex-
plain their position and make good" !"
1t was after eight before the meeting
was called to order as Chairman Jack.
son desired to have the Pagosa
Springs committee and Emmett Writ
present, the latter arriving about .
O'Clock and getting the benefit of most
of the arguments. Mr. Jackson at
some length stated the position of the
committee and the long hours put in
trying to arrive at satisfactory con.
clusion. adding that the inference that
Mr. Pulliam. who was present to bear
him out had not agreed with the com.
McCloskAy, the attorney for Mr..
Boyle, had suggested Mr.. Freeman as
receiver and that many OF the pro.
visions of the agreement we're In line
with suggestions presented by Mr.
McCloskey. rs Sd
The chairman then asked Mr. Ora
ham to read the agreement one sec
fion At a time and asked for full dis
cussion. 1t was the discussion that
followed that convinced even Il few
opposed to the agreement that they
were in the wrong, because the ap-
pearing on the scene of D. S. Gal
breath. claiming TO represent depos-
TORS to the extent of about $4,000
proved an eye opener. Mr.. Galbreath
went to the meeting armed for bat
tie and when be left the meeting he
was stripped to the skin. 1t was sup
posed he was opposed to certain word
ing. etc, but before he concluded he
admitted that he was for the retep-
ton of the present receiver and his
argument sounded like that OF paid
attorney who was trying to convince
jury when the jury knew the speak.
er did not believe what he was saying.
The talk put up by Mr.. Galbreath fell
so fiat that it is even useless to dts
sect it in any manner and we doubt
If there was one person present who
did not feel ashamed for having him
appear in his behalf. Suffice it to
say. there were a few objections stat
ed to the signing Of the agreement.
but these objections were fully met BY
both the committee and Mt. Freeman
in behalf Of the bank o9icials. Mr.
Freeman was open and frank In every
statement and was heartily applaud
ed when he concluded his general
statement that he would, be able to
pay dollar for dollar and believed this
would be possible long before The ex-
piration Of three years. The audience
was clearly with the committee and
the bank officials. There was Dot =
point advanced by -Mr. ,Galbrestho chat
had not been thoroughly gone iato By
the advisory committee. Messrs. b.
w. Ritter and ]. l.. Russell wsrs ex.
plicit in stating that no technicaliaes
should preSail--tbat. they and their
clients were acting ir good faith, aud
Mr.. Ritter assured everyone that he
would insist on every feature of the
agreement being fulfilled, also for the
changing of the wording that would
make the document stronger The
question OF making the realty decided
the absolute property Of the bank at
the end OF three years In case the de.
posftors were not paid was agreed To-.
It was also agreed that In case the
proposed receivers taiied In a3y way
to live up TO their part-of the COO
tract that the property should become
assets OF the bank Mr., Jacksoa stat
ed that year would tell the fale II
Messs. Freeman and Chapman were
In earnest, and then II they ,wefe not
he would pledge the COMMITTEES to
make 1t lively for. them. ,,i-y ms
on course Mr.. Calbreath objected
to Messrs. Freeman, Chapman, Hafnp-
ton and Eldredge going DOM into
their pockets and putting up $4,000
in cash for the Immediate payment OF
small depositors. trying to make II ap.
pear that this meant releasing other
stockholders from stock liabilities,
but he was let down In this Ike in
every other argument be presented
At one time hs said he would shos
where depositors would receive $3.50
900 more by retaining Mr.. Boyle than
making the proposed change. aad Mr.
Jackson reminded him af this latsr
and then Mr.. Gstbrsath, said he had
not made the statement. but Mr.. Jack
son insisted be did, Nhereupon Mr.
Galbreath said he thought he Ne