The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1909-07-19
Financial Deals Revealed

Actual developments in the investi-
cation of the affairs of the Union State
bank and the State savings and COM
mercial bank. and corporations that
were evidently affiliated with the State
savings and Union State were brought
to light yesterday by Bank Examiners
Young and Heynemann. disclosing the
fact that the State savings and COM
mercial bank has borrowed various
sums among them $4,000 from the
Metropolis trust and savings bank.
The mysterious contract which w.
c. nays said would give the officials
OF the bank and the bank itself a good
profit in the deal involving the control
of the National Bank of the Pacific,
was also brought out in the meeting
of the directors of the bank and the
examiners 1t was promptly confis-
Gated by those in charge of the insti-
tuition. The contract provided that the
Union state bank officials were TO re-
ceive everything realized over $55 a
share on 1874 shares of the capital
stock of the National Bank of the Pa
cifc. The 1874 shares were purchased
by Hays and his associates for s55 a
share. They We're compelled TO bor-
row money from the Western national
bank or Clarence Grange to complete
their payment. Grange called the loan
and they could not meet II. He then
took over the stock in payment of the
money advanced and made the agree
ment which was confiscated by the
examiners yesterday.
MAY CONTEST NOTES
That the plan of Mrs. Hasshagen is
10 contest the notes given by her to
the bank on the ground that she has
not received fun value, appears TO be
certainty, according to authoritative
information that was given out yester-
day morning. Just what her conten-
tions viii be Edward c. Harrison, her
attorney, would not state. He refused
to confirm the report that his client
would contest the notes.
That the $500 shortage uncovered
Saturday morning by Examiner Young
was not all that may be expected is
borne out by the discovery of another
$500. II is not certain that Non Mey-
erinck is responsible for the shortages
so far uncovered. Just who is respon-
sible can not be determined until the
various entries in the books of the
Union state bank, State savings bank
and commercial bank, Bankers loan
and trust company and the CONNER
cial savings and trust company
The last two named companies have
been out of existence for several years.
The Bankers loan and trust company
was one of the corporations fathered
by Ray Nathaniel Knight.
ANDERSON STORY
Another development was the denial
by Alden Anderson that he had ever
been warned by Won Meyerinck that the
affairs of the bank were in a tangle
and that he would better investigate
at once. Anderson denied that he had
ever met Won Meyerinck and had never
heard Of him until the suicide Saturday
morning He refused to say at this
time that Won Meyerinck was short or
was actually responsible for the short
age that exists.
Indications are" he said, that the
shortage belongs TO Won Meyerinck, but
there is no definite proof of that fact at
the present time. Further investiga-
lions may disclose a much larger
shortage and they may show that there
is no shortage. The Investigations so
far are in their infancy. After we have
verified all of the errors we have I'M
covered and what we may uncover,
can tell more about the condition and
Just how much the depositors will re-
ceive 1t looks now as If the depositors
would receive dollar for dollar It is
my duty TO look after the depositors.
and they win receive my first atten-
fiDns