The Alaska citizen., 1912-12-16

/ did YOU have TO do with the -repar-
alton of that document YOU HOW held
/ in your hand twitncss having hrHn
handed a paperl? Al prepared
/ IT,
/ Q Relate to the court under what
circumstances. Al have forgotten
just the exact time. but | think thi=
vas the first statement filed by the
bank. think they neglected to
file statement in 1908. but there.
vas some matter that arose in court.
a suit that had been instituted hv
some foreign corporation, where the
/ defense OF Noncompliance with chap
ter % OF our code was raised. and
/ | Went in then and saw Mr. Dusen
bury and told him that the bank
/ would have to file a statement I'M
/ conformity with the law in order to
! be able TO prosecute suits and also
% avoid any penalty that might be
+ incurred under that act. so he ask
ed me what would be required. an
/ | told him. and he came up after
wards. | said You had better
come up to my office and | will gcr
/ the code and 90 through what is r.
quired under the code and see ii
! We cannot get up a statement t.
/ comply with the statute" which ne
+ did He brought up the statement
/ 70 be presented monthly TO the board
! of directors and We came along to
the first requirement of the statute
regarding the amount of the capital
stock. and | said. THE amount Of
the capital stock is three hundred
i Thousand lpllorC 81,
next provision in REGARD to tho
amount that was actually paid IN
/ On Money? A.--Or actually paid
! in money. and we discussed that He
said some notes had been given for
stock. Well" said. how are Vol
carrying those notes." and he SAID
+ The bank is carrying the notes as
/ loans and discounts and has credit.
ed the stock as being fully pad
up" Well" | said. you want your
statement to agree with your book
and think that under the law and
under the conditions here that u
would be considered as fully paia in
money. so ! said we will pul i
+ that way Then ii came on as to
! the amount of the assets of the cor
poratioE. The statute provided
/ believe. that the amount Of assets
and of what they consisted and the
actual cash value thereof shall be
/ stated and he had a statement there
showing the value. the face value.
of the loans and discounts. and
said Now, under the statute don't
know whether we can state tn"
amount of the assets in a lump sum
! ar M hut
to do it" | said. In my opinion
this statute being intended to eiyo
publicity. might require a separate
statement of each note that the bank
owns. but" | said. TO do that woulc
/ be to disclose the affairs OF the
bank, and we cannot do it," and
said Just lump your loans and
/ discounts and put them in at Their
face value" | told him to do thai.
and | said. State the amount Of
/ your liabilities And We talked
that over and | said Il will prepare
the statement" and my recollection
| is that at that time Mrs. Moore
was working for me, and | called her
| in and dictated the statement
/ Whether that was 1908 or 1909. I
am nor sure, but | am satisfied that
! it is the statement or report thai
was attached to the articles of in
corporation.
Q.-Iou We're subpOenaed here b.
the government, We're you not? A
/ | was subpoenaed | don't know
whether in this case or not
Mr.. Gibson-NOt in this case?
/ Witness-I was subpoenaed by the
government.
Cross-Examination of John L. Nc
CHM by Mr.. Gibson.
Q-Nou say that the first item
YOU took up was the name of the
corporation and the location of its
/ principal officer and place of bus
mess, etc? A-Yes. think so.
Q.-And the next the amount OF
the amount of the capital stock,
Q.-Then the next was the amount
of it's capital stock actually paid in
! in money? A.-Yes. | think so.
Q.-And that was as YOU hay,
stated it? Ayes. sir.
Q-Then you say YOU next TOOK
up the amount of the assets? A
! The amount of the assets.
o. would ask you why YOU did
not put in that report the fourth
item which is provided by the stat.
ute. which reads as follows: Fourth
the amount of it's capital stock pai I
in any other way. and in what?
A.-For the very reason | have
| stated. that | regarded the stock.
from the fact that it was being car