The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1909-07-18

rived, however. the police were called
upon to keep back the crowds of de-
positors and the newsboys who were
loudly crying the suicide OF baron Won
Meyerinck. former paying teller.
Had the run not been stopped at the
time IL was 1t IL probable that the bank
would have been declared bankrupt
while. according TO the superintendent
or banks. there appears TO be sufficient
good assets to pay all depositors dollar
Tor dollar. However, the assets have
not been Investigated TO any extent
and a more thorough examination may
prove that the depositors stand to lose
considerable OF their savings. Only
the word OF the oficials OF the bank as
to the assets and their valuation has
so far been obtained by the examiner.
SHORTAGE Is ADMITTED
That there Is a shortage is admitted
by Anderson. and that at least part OF
the discrepancy has been traced TO Won
Meyerinck comes direct from those
connected with the bank and the exam
ination. Won Meyerinck, shortly before
he left the bank, according to Ira Z.
Hays, the paying teller. issued TO HIM
self a certificate Of deposit for $500.
4
covered and the examiners are now
searching through the books for more.
In the place OF original notes were
found many copies OF notes. Securi-
ties that had been deposited with the
bank as collateral could not be found
and in their places had been placed
deeds OF trust and certified copies OF
deeds Of trust
No trace Of the money made or lost
I'm the National Bank of the Pacific deal
could be found. In that deal, IL is
claimed by W. c. Hays, the deposed
cashier. very good profit was
made. but no trace OF the profit was
unearthed by the examiners.
The controlling interest OF the Ma
tIonal Bank of the Pacific, 1874 shares.
was bought by Hasshagen and w. c.
Hays from the California safe deposit
and trust company. and two other
banks, for s55 share. A portion OF
the purchase price was paid down and
when the time came 70 close the deal
Clarence. Grange Of the Metropolis
trust company was asked TO loan the
money. which he did. taking the 1,674
shares of National Bank OF the Pacific
as security. During the time that
Grange held the stock, Hays, Hassha-
gen and Beclrtel had themselves elected
Pacific and were beginning to perfect
plans for consolidation OF the Union
state State savings and National Bank
or the Pacific. when Grange called his
loan.
FORECBOSES on LOAN
Hays and Hasshagen were unable to
meet the loan and Grange foreclosed,
securing the stock, so il is said for
$50 a share, the amount OF the loan,
while Hays and Hasshagen. it appears,
lost SIG share on the transaction.
HAYS. however, denies that he and
Hasshagen lost on the deal and main
tains that he now holds an agreement
whereby they will realize comfort
able proit. When he had secured pos
session of the stock. Grange had IL
transferred into his name and into the
names OF John II. Spring and Alfred
Meyerstein and then called for meet
ing of the directors. At that meeting
the designations of Hays. Hasshagen
and Bechtel We're called for and handed
In and Grange. Spring and Meyerstein
elected TO iii the vacancies. Grange
then demanded the resignation OF Zoeth
Eldredge. the president. and when that
was forthcoming, Grange was elected
president.
when the Union state secured the
controlling interest OF the State savings
and commercial il was the plan TO con-
solidate those institutions. but that has
never been actually accomplished. In
stead the assets of the two banks have
been merged. and Il has been the plan
OF late to conduct all business through
the state savings and commercial.
Van Meyerinck lost his position about
a month ago. He was discharged by w.
c. Hays. then manager of the bank. in
order 70 reduce expenses and because
saws Hays. his actions about the bank
were suspicious.
Il discovered that there was a dis
crepancy in Won. Meyerinck's accounts
about a month ago" said Hays yester-
day evening. 1T was the duty OF Hass.
hagen TO count the cash each evening
and one evening we found a shortage OF
approximately $3.50; / can not remember
the exact figures. That discrepancy was
assigned 10 natural error. as any teller
is liable TO make In making up his cash
Later found Won MeyerinclS examining
the contents OF the note case. and from
that moment l decided that he must
leave the bank The bank holds mort
gage on Won Meyerinck's Larkspur
property. the interest on which has not
been paid for two years. can not say
for sure that Won Meyerinck was shor
IN MS accounts. YOU hlOWs Il nANt
not been near the bank since I had &c
call a policeman to help me get into
the vaults. and what has occurred sine,
that time do not know"
TRIPS TO BEACH RESORTS
Hays was then questioned about sew.
eraI of the banks transactions which
do not appear exactly right. He sale
that at the time he left the bank the
necessary reserve was being carried
something more than $4,000 IN the West
ern national bank. about $4,000 in the
vaults OF the Union state bank and q
few hundred dollars with several other
local institutions. The destruction OF
several notes in a mysterious fire could
not he explained by Hays. who did not
even know that any notes or negotiable
assets OF the bank We're missing. Hays
then told OF his trips. with Hasshager
and Bechtel, TO A Mon Chateau and
other beach resorts. where considerable
drinking and gambling were done.
lie admitted that he had made sew
eral trips TO the Lodge. Breakers. Dbl
hle's and 20 A Mon Chateau. always in
company OF Bechtel and HaSshagen, he
said. but denied that he had ever lost
any large sums at the gaming tables