Los Angeles herald., 1910-10-15


ber 20, when the decision of the su-
preme court will become final unless
petition for rehearing is granted.
"The plaintiff in the case against the
All Night and Day bank Immediately
got busy, and L. c. Brand, represent
ing ten shares of stock, and the Title
Insurance and Trust company, as re-
ceiver, called a special meeting of the
stockholders for the purpose of put
ting out the entire board of directors
of the All Night and Day bank and
amending its bylaws, etc.
This meeting was called for october
ID at 10 o'clock a. m. at the banking
room of the All Night and Day bank.
The meeting was called to order by
the president, Newton J. Skinner. The
regular routine business of the regular
stockholders meeting was attended to
and the roll had been called to qualify
those holding stock as stockholders to
vote. The books of the bank show
that 1000 shares of stock have been
issued by the All Night and Day bank.
MEETING ADJOURNS
Questions of the legality Of the
meeting were raised by some Of the
stockholders and also the question of it
being in contempt of the supreme
court to hold a meeting before october
20, when it's decision will be final un-
less a rehearing Is granted, when in
case proceedings under the judgment
would be stayed pending the appeal
now in the supreme court. The motion
was made by a stockholder and prop
erly seconded that the stockholders
meeting be adjourned until one week
from today, or october 81, at 10 a. M,
at the banking rooms of the All Night
and Day bank. 1t was put before the
meeting and a majority of those pres
ent said ave. No one voted no. As
president Mr.. Skinner declared the
stockholders meeting adjourned until
October 81 at 10 a. m.
''Mr. Brand, Judge Pope and Mr.
Cook, attorneys for Mr.. Brand, then
attempted to hold a rump meeting
They had, with the receivers stock,
1241 shares Of stock. This call was
made under article 210 of the Civil
Code of Procedure of the State of Cal
ifornia, which in part says: The board
of directors may be removed from Of
flee by a vote of two-thirds of the
members of the stockholders holding
two-thirds of the capital stock at a
general meeting held after previous
notice of the time and place and of the
intention and of the purpose of such
removal.
NOT ENOUGH SHARES
"It will be seen that two-thirds of
1000 shares are 1884 shares, and as Mr..
Brand and his associates had only 1241
shares, it was not enough to put out
the old board of directors, and if they
had not enough to put out the old
board of directors, they could not elect
new officers and directors of the corpo-
ration, and their action was void on
it's face.
'It is to be lamented that men with
as much at stake and as prominent in
Los Angeles should give out on the
street that they would take possession
by force at 8 o'clock in the afternoon
on Friday Promptly at 3 o'clock sew
eral members of the rump meeting
appeared and sat in the lobby a few
minutes and then moved away.
"The present officers and directors
are the legal officers and directors of
the All Night and Day bank. They
are not going to take the law into
their own hands. They are going TO
be on the Job as directors and officers
until they are legally deposed, but they
are not going to be illegally put out.
There is a legal way which, II the
rump meeting was legal one, tney
can pursue, and no doubt, after tney
have had time to think 1t over, VIII
decide to use mental instead of physi-
cal force. They have an able corps OF
lawyers who have done everything
possible and have brought every kind
of an action which they could think
of. and it is more than likely that
If there is any action that could be
brought, it is because they have not
been able to find it.
DEPOSITS INCREASE
notwithstanding all the agitation
and court proceedings that have been
brought by Mr.. Brand and his asso-
ciates. the All Night and Day bank
bears the distinction of being the only
bank in Los Angeles to have Increased
in deposits in the last two months, the
All Night and Day bank increasing
practically 100000 in deposits in Sep
tember and about $4,000 the first ten
days of October.
"The officers and directors express
their appreciation to the public in gen.
eral, and especially the depositors VINO
have been so thoroughly loyal through
all the proceedings in which the Dank
has been the target.
SIT will be seen that II Mr.. Brand
and his associates succeeded in get
ting two-thirds Of the stockholders to
vote to put out the present board OF
directors, or If they had succeeded In
getting his board Of directors In as
officials and directors OF the All Night
and pa bank throgh the rump meet
ing held, OF attempted to be held, the
fIrst thing the new board of directors
would be likely to do would be to dis
miss the appeal in the case of Hugh
Blue VS.. the All Night and Day bank,
now on appeal in the supreme court
and still undecided. This is one way
of winning a suit when it cannot be
legally done. BY getting control Of
the corporation and then dismissing
the appeal against themselves. In this
case. will they be able to succeed In
perpetrating such travesty Of
justice?"
skinner terms a trump" meeting are
as follows: President, L. G. Brand;
vice president, Henry w. Meyer; sec
retarv. John T. Cooper; treasurer and
cnshier, j. s. Moore Other directors,
Roy Cline, B. #. Cline and w. r.
81