The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-11-26


Resolutions charging that W. H
Milton, as receiver Of the First Ma
tional Bank, has shown an utter dis
regard Of the interests of the depos-
itors and of his obligations as re-
ceiver and that he may have incurred
liability for any loss sustained by
the creditors of said bank. and that he
should not longer remain as receiver
of said bank, and that the attention
OF the comptroller OF the currency be
called to the facts of the case" were
adopted by a rising vote OF depositors
who had crowded into the city hall
council chamber last night in response
to a call which had been inserted in
The Journal by the committee acting
for the depositors.
The meeting was attended by up
ward Of two hundred people, the great
majority of whom were said to have
been Caught" in the closing of the
said bank and during the meeting,
Receiver Milton's alleged acts were
scored severely by w. A. Blount, who
announced that he was present simply
in the interest Of depOsitors and clients
whom he represented In proceedings
now pending in the federal court.
The meeting had been called for
one day last week, but on account of
the absence Of the receiver in Wash
ington and New York, 1t was decided
to postpone it until a later date MIR.
Milton was in the city last night but
was not at the meeting, sending i'm
stead a letter which was afterward
read to the assembled depositors, i'm
| which he stated among other things
| that 'inasmuch, however as I am not
authorized to make such detailed
statement to the depOsitors as J. would
desire, I shall not attend"
The meeting finally resolved itself
into a permanent organization by the
election of DIR. +. G. Renshaw as chair
man and J. f, Taylor as secretary,
Previous to the permanent organi-
zation, however, II. f. Namely, who
called the meeting to order and
through whose efforts the meeting had
been arranged, made quite a talk TO
the audience. He declined to put a
motion for the permanent organization
of the meeting and, leaving the chair,
said that there was vast number OF
depositors there who would believe
that he had done the right thing, and
that he would turn the meeting over
to somebody else, ThereupOn no left
the chair and o. ]. Semmes, Jr., placed
the name Of DR.. Renshaw In nomina-
tion. and he was unanimously selected
as chairman.
In taking the chair, DR.. Rsnshaw
said that the receiver of the First Ma
tional Bank had been criticized, but
whether such criticism was deserved
or not, he was not prepared to say. Tho
meeting, he said, was 70 20 into tho
matter of interests OF depOsitOrs, nd
to get for them If possible what Is left
of the said bank. He then announced
the meeting ready to elect someone az
secretary.
The name Of J. F. Taylor Eas pro-
posed, and he was elected.
DR.. RenshaW asked II Mr. Milton
was present, and, II not, II he had been
advised that such a meeting would be
held. At this point Mr.. Namely Of
fered a letter which he had received
from the receiver, and which was read
as follows:
LETTER FROM MR.. MILTON.
Pensacola, Fla, Nov. 20, 1914.
H. F. Namely, City.
Dear Sir: / acknowledge invitation
through you to be present tonight at
a meeting of depOsitorB Of the First
National Bank. Inasmuch, however
as I am not authorized 20 make such
detailed statements 70 the depositors
as / would desire, shall not attend. I
lHdIlh YOU llDAAC hAAV AN@o Ag~ NAA~ +'a
vitation.
shall be glad at any time TO re-
ceive and forward to the comptroller
any communication any Of the de-
positors may desire TO have laid before
| him, and in all respects 10 facilitate
the winding up OF the recciverahip
with as little loss as possible and at
all times to furnish them such infor-
nation as / may have authority -
I give out.
Yours very truly,
w. n. MILTON,
Receiver OF the First National Bank,
| Pensacola. Florida.
! One depositor present asked II either
Mr.. Taylor or DR.. Renshaw were
stockholders in the First National
Bank, and when informed by each
that they were not. the meeting pro-
! ceeded.
II was brought TO the attention of
| the meeting that ". A. Blount was
| present. and that he was In possession
| Of certain facts bearing directly upon
the purpose Of the meeting. Mr.. Blount
was asked to state what nc had TO
say.
MR.. BLOUNT SPEAKS.
| Mr. BIouut announced at the outset
that certain facts had come into his
| Continued on Page Three.)