The San Francisco call., 1908-07-27
Market Bank Meeting in Colo.
niaI Theater Becomes a
TempestuOus Debate
Losers by Crash CIamor for In
vestigatiOn of Criminal
Charges by Grand Jury
Committee Is Appointed to
Watch Transactions of Sc
curity Company Officers

OF Cnrce tcmpeStuOuS nCuTS yeStSI-
day afternoon I,50O depositors of the
!. defunct Market street bank filed the
Colonial theater in McAllister street
with such hot debate on the subject of
. their financial troubles that police riot
cal was turned in. Detective Sergeant
Wren and a posse of 10 patrolmen
from the central police station and
several policemen from the Bush
street station in a patrol wagon hur-
ried to the theater. No arrests were
made, but two depositors were trans
ferred TO the basement of the building
by the police
The meeting Of the depositors was
largely attended. They listened to the
advice of i. H Mooser, receiver Of the
hank. that they bring the actions of
the Market street securities company
10 the attention Of the district attor-
ney.
NAY PROSECUTE OFFICERS
By resolution they formed the Mar
! ket street depositors' protective asso-
ciation and selected committee. the
duties Of which wiz be to closely
watch every action Of the persons in
rerested in the bank 10 investigate
the alleged illegal transactions by the
bank officers. and II the charges made
are found TO be well grounded to
prosecute every officer and stock holder
of the Market street bank and the Mar
street securities company
James kanter Of 204S Green street
called the meeting 10 order. but
lfowed unfsmiharity with parliamen-
try usages and before the meeting ad-
olrned retired In favor Of NJ. c. Ran
oolf, vice chairman Of the association
: which was formed.
A F. Martel, president OF the bank,
p had promised 70 be present at the meet
ing. but did not appear.
p The committee chosen to carry on
the work OF the depositors' association
IS composed OF the following: John
Ksnter. chairman OF the association; II.
c. Randolph. vice chairman, zoo Golden
Gate avenue; c. A Grimmer, secretary,
= 4s4 Baight street; N. l. Smith. 10
Castro street; T. L Gift, 114z Market
street; Mrs. c. Y. Cook. 1855 Gesry
. street; Amos Hilton, 1856 Bryant street;
James J.. NcNew. 420 Noe street; Fer
dinsnd Wagner. sos Waller street; Mrs.
Susie Russell. 121 Point LObos avenue.
y. =. Seike. los Augusta street; NJ H.
Morris. 61S Laguna street; George
Holding, I22 Laguna street; c. r. Dorr-
l. II. MOOser. receiver Of the bank,
addressed the meeting. He stated that
the bonds Of the Market street securi-
ties company were OF no value because
they were predicated on a deed Of trust
which provided that the Market street
bank would be kept out Of the hands
Of q receiver and that the Market street
securities company would take posses
. not been carried out
HELD CONTRARY TO LAW
IF the pass books are retained by
tile securities company they are re-
--rsined contrary 10 law" asserted
3 Mooser. "and the matter should be
brought TO the attention Of the district
o.. attorney II il can be shown in court
that the law is violated the district
attorney must force the securities COM
pSny to make restitution. I want the
:.6epositors TO appoint committee 10
. Investigate this matter" he concluded.
". II. H Hart, former attorney gen
eraI of California, advised organization
and. the retention OF an attorney. He
explained that the district attorney and
the grand jury could simply investi-
gate criminal actions. He urged strong
ly that the affairs Of the bank be left
fn. the hands Of the receiver and that
3 the appeal matter which is pending be-
fore the court be dismissed for the
: reason that II the appeal stood il would
delay realization on the assets of the
bank. The principal action of the day
was taken on Kanter's resolutions.
This document created the depositors'
association and provided for the or
zanization Of the committee Of deposit
ors; il provided for the employment of
the best counsel to watch every move
made either by the Market Street bank,
the securities company or the receiv-
err" 81 provided for safe keeping of the
funds OF the depositors' association and
further the counsel was empowered to
Investigate all alleged illegal trans
actions made public by Mooser. If it
were 10 be found that criminal acts
had been committed all officers and
stock holders of the bank and securi-
ties companies were TO be prosecuted.
The attorney was further empowered
70 ind out the extent Of the liability
Of each stock holder in the bank and
10 use every effort to recover the full
amount Of their individual liabilities.
The executive committee viii meet
this evening at the home Of Mrs. Cook,
1885 Geary street.