The Seattle Star Newspaper, November 9, 1921, Page 4

PAGE 4 lined a plan of settling with the de £ positors of #aid defunct bank, that f we, the undersigned depositors, vis: | 4 jorously object to, for the onan” reasons: “First—Beoause in several nows | paper ar om, it has been promised | that the sitors would be paid in | | fall, and Hart, in a widely pub- | lished @peech, sald specifically ‘that } lose a dollar, This statement must A be "tas . {hs accepted by the barkers, | President of Defunct Insti-|as '« cor nly waa never contradict: | H ted in prin tution Replies to | Stacy — “Gow, Hart's state. i ment was made only two weeks Critics | after the bank had closed, at a | ssasioaes was Impossible to ate survey of the time whe make an situation. Hart made the ia onleenaltcinentindenapll “The only reason why I have | Fpesoieises ig as ones te pon | | statement in good faith, but after the depositors get every penny || careful inves igatjon over © pe they can, And it I didn’t believe | | Ted of four months, comm bions that the plan which hax been || of Seattle and country bankers Worked out wilt give them every } | @ent that they can possibly get, | | T would never give it my ap proval."—Statement by Ralph “Second—Recause no official atate Btacy, president of the defunct | | ment has been issued as to the ac: | | | tual assets of this defunct bank that —X€ | are left, and which these new banks | Jare willing to bid $5,400,000 for, If] | they know what they are bidding on, | Which are being made by depositors| why do not the depositors kpow? Mbout the settlement of the affairs of It is their money; who has a better | the Scandinavian American bank, | right to know the amount of these) Ralph Stacy issued a statement to| assets than the depositors, to whom | ‘The Star Wednesday, in the hope of they actually belong? Mr. Stacy; @learing up all points which are not! says the amount of indebtedness Clearly understood. leannot be determined. Why not? Is He made his statement specifically | it because some depositors may have Teply sto a petition which has/died and will not call for their filed in euperior court by a|money? The $400,000 that the bank Pommitter of 16 disgruntled deposit: | will. add to its bid would not go far} ora, and, for the purpose of clarity, | toward paying off perhaps millions answers wil] be published in the {of indebtedness that may still be| ly of the petition, owing. What was the amount of | petition and Stacy's answers /this liability? Why were the de J positors never notified of its “In a newspaper statement printed | amount?” 4, 1921, we note that Ralph Stacy—"The assets consist of » president of the defunct Scan- notes, bonds, warrants, real es scattered pieces of real estate; four ships, ete. The bankers ~have spent four months trying an accurate i i i Fy é H H “| ; h i : ; F i it i defini that they have been able to reach is the fact that it is safe for the new bank to pay 60 cents on the dol- jar as soon as it opens. Further- more, every cent that is collect- ed above 35,400,000 will be paid » te the depositors WITHOUT COST TO THEM an soon as it can be collected, and under the f are certain lawsuits pending the bank, and the labil- will be decided by the out ¢ come of these sults, A bank eannot Ite depositors of every fe filed against “Third—Why should the state banks be relieved of their liability when on every check issued by this} defunct bank was this assurance to all depositors: ‘Deposits guarantesd by Washington Bank Depositors’ Guarantee fund’? What did this guarantee mean to these depositors? Did it mean what it said, or was it only the advertisement of a lot of financial sharks and used merely to know who are the ‘preferred claim. jants’ {f not the depositors, and who gets this 60 per cent that goes to Day ‘general indebtedness’? We can see no promise to the depositors to : Day any certain p centage, and cer- a. ~ tainly no guarantee to fulfil Gov Hart's promise of 100 cents on the Is Your Blood Starving For Want of Iron of Cooking and sf f ip i i H ifr i i i i iff iirflird Hi t i te i i } dinavian American bank, hag out | dollar.” the bankers had adopted his plan, or suggestion, for paying these deposit: | org and he could give them his post: | ’ | tive word that ho depositor” would | | THE SEATTLE STAR Stacy Promises Depositors Fair Treatment s to the ‘preferred we don't kaow will share In the 60 per cent paid eral indebtedness’ items which Stacy depositors, this would cover court whether there eetectty ere any verdicts, If pending lawsuits are But the depositors who put decided against the bank, The money in the bank the last day statement that ‘we can see no it was open say that they are, promise to the depositors to pay and, if the court decides such to any certain percentage’ ts evi be the pase, we will have to re dently based on a mixunder- gard them so, As to the ‘gen standing. The new banks have Why a Charity Campaign? -° E Poor and Sick of Seattle Are Facing One of the Hardest Years in Our History. Business Is on the Upgrade, but Our New Prosperity Will Take a Long Time to Root Out the After War Poverty and Suffering. The Forty-Six Charity and Good Citizenship Agencies Which Will Fight This Battle for Seat- tle Must Be Financed, or Starvation, Disease and Death Will Engulf the City’s Unfortunate Thousands. The Achievements of These Forty-Six Agencies During the Last Year Prove This Crying Need and Their Ability to Cope With This Staggering Task. made an ute promise to pay |The undersigned names represent the depositors CO por cent as | deposits of about $100,000." they open and as much | It ig signed by the following: A possible thereafter with- | lrickson, John Olson, OscarTearson, to the depositors.” |c. J. Lundgren, Fred Gunderson The petition conciudes; “Therefore, | John Walter, Magnus Larson, 1. and for the Above-mentioned reasons, |W, Callahan, 1B, Johanson, John 14 we earnestly protest against the|man, Chris Jacobson, P, L. Pool,| adoption of this plan, and ask your |Oscar Olxon, Frank Oncar Carlson, | WEDNESDAY, | | | | | | | as LUMP C-0-A-L Clean, Light in Ash $9.50 Per Ton, Delivered in Load Lote GARFIELD 2743 Jeweler and Silversmith NOW LOCATED = 1518 Second A, honor to render an adverse decision, |Carl Anderson and John Mallin + mental Job More Efficiently. brought beck & health by their eforis. Working Cirle’ Hooves. Old Folks’ Homes, BOARD OF DIRECTORS. Homorery Pres...MAYOR HUGH M. CALDWELL President o.see0 0+ DR. PARK WEED WILLIS ie -FRANK WATERHOUSE . REGINALD H, PARSONS -LAURENCE S$. BOOTH Ird Vice Pres. Treaserer.......CLIFFORD WILEY Execulive Sec'y...F. E. BURLESON W. L. RHODES RALPH STACY E. L. BLAINE L. J. COLMAN ARCHIE TAFT . HENRY LANDES DR. HIRAM READ NATHAN ECKSTEIN T. P. BUGGE RABBI SAMUEL OTTO KEGEL KOCH OSIAH_ COLLINS T. 8. LIPPY RS. LEO SCHWA- Pad Vie te BACHER ILLIAM PIGOTT FRANK M. SULLIVAN J. Cc. MUNDY WILLIAM SHORT he: Ve. J. A. HAIGHT he Mg FRED ERNST $. E. FLEMING MRS. B, C. BECK BUDGET COMMITTEE FRED ERNST, Chairmen L..J. COLMAN, Vice Chairman MRS. B. C. BECK JOSIAH COLLINS NATHAN ECKSTEIN L,S. BOOTH ARCHIE TAFT a 509 Third Avenue November 1] 4-1 9g Phone Elliott 6115 2.28! femilies were cared for by Relief Agencies, 4,677 sick were helped, 1,437 were given employment, 1,794 were given clothes, 17,148 were given lodgings and 479 542 free meals were served te poor and needy. 381,013 diferent times people enjoyed the benefits of the good citizenship agencies and 28,599 children received cheracter-building guidance, 16026 Sick Folks were cared for by Health Agencies, end 4,453 Children 1638 Werking Women with 123 children were given decent quarters by 1,128 Pereniless Children were levingly cared for by Children’s Homes. 539 Fallen Girls, with 416 Fatherless Babies were rescued by Protective Homes. And 41 Helpless Old Folks spanttheir declining years safe from edversity in The job for 1922 will be even more vest. That Is Why Seattle Will Be Asked to Raise $744,810 for These Forty-Six Guardian Agencies November 14th to 19th. last year. of forty-six, agency os fion ond eliminates CAMPAIGN EXECUTIVE COMMITTEE. W. L. RHODES, Chairmen. ED FULLER, S. A. KEENAN, Aides. Hea. Hugh M. Cald- William Pigon Mr. S. J. Losbard weil ; Robert Oldham Mr. A. Dinkelepiel J. F. Douglas Herbert Schoenfeld Mn. Edgar Ames Frank Woaterhome Dr. A. F. Christensen Mn. A. A. Hilton Dr. Park Weed Willis Roy Kinnear J. Munday Laurence Colmen Bishop O'Dea C. D. Stimson Judge Geo. Donworth Rabbi Saméel Koch M. F. Backus Victor Elfendahl Mrs. H. Landes Nathan Eckstein Dr. Heary Surzallo Cecil Martin Cc. S. Wills Mrs, John Erickson T. S. Lippy Dr. M. A. Matthews Mra. John Collins Laurence Booth Dr, A. M. Bailey WOMEN’S EXECUTIVE COMMITTEE. Mn. Park Weed Willis Mr. Heary Landes, Chairman Mrs. William Hovey Mrs. Fred W. Bert Jr. Mrs, Lulu Fairbanks Mn. B. C. Beck Mrs. J. M. Cunningham Mn. J. S. Lombard Mra. James Cowan Wilson Mn. J. E. Rieke Mrs. Stephen J. Chadwick Mn. C. B. Blethen Mn. H. A. M. Bonner Mra, Walter Beale Mrs. Carl J. Smith Mrs. John K, Holmes Mrs. George Dalton Mrs, Kate McMahon Fill the Why the Community Chest Plan? HE Community Chest Plan Has Been Adopted by Seattle's Citizens, Speaking Through the Approval of Every Repre- sentative Civic Organization, Because It Will Do This Monu- In Brief, the Chest Is the Cooperative Money Raising Campaign of the Forty-Six Charity and Good Citizenship Agencies Which Have Formed the Seattle Community Fund, a Permanent Year-Round Or- ganization Which Seeks to Safeguard the Funds So Raised and Secure the Greatest Possible Efficiency of Operation and Elimina- tion of All Overlapping and Duplication of Work. THE CHEST ACHIEVES MAXIMUM EFFICIENCY BY: SAVING MONEY—The Chest will cod bet 344% to reise, while last yeer's drives cost approximately 15% apiece. _ SAVING TIME—The Cheat will take 5 days, instead of the 325 spent in SAVING EFFORT—The Chest means one job, one solicitor, one week, SAVING ANNOY ANCE—The Chest will end oll for these f is N tag days jerty- INSURING JUSTICE—~The Chest will square deal to everybody, Shain alae eee PREVENTING DUPLICATION—The Chest stops competition in solicite- PROTECTING THE PUBLIC—The Chest will protect’ Seattle egeinst Desle, errors, or possibility of fread end imposition, ; SPREADING THE BURDEN—The Chest will reise the member of sub- scribers from 6,000 te ever 30,000 citizens. PROVIDING YEAR ROUND EFFICIENCY--The Chest assures the business-like gain of intelligent cooperetion. BUILDING COMMUNITY SPIRIT—The Chest brings ell sects, interests end races logether in @ common movement for the common good. The Community Chest Plan Is Operating Successfully in 92 American Cities YOU MAY DESIGNATE YOUR GIFT TO ANY AGENCY ee ae YOU MAY PAY MONTHLY, QUARTERLY, SEMI-ANNUALLY OR IN CASH a Builders of the Seattle Community Chest mmunity Chest agencies. DIVISION COMMANDERS. I. As Nadeau fone E- Goodteliow M. J. Lese FS. W. 8. Elen Bs a A. R. Currie bigot R. W. Frame F. Everett W. F. Ri : c ter 4 Thos. F. Murphine Mn. E. T. Blaine ‘ CW. Casler H. Dowling 4 William Brower A. G. Cohen 4 Paul Dick ‘ Seth Morford : Harry Lear Howard Waterman € Dan Landen E. Rex Smith : W. R. Aleander M. J. Robinson 4 Mra, T. J. Shields Daniel Earle Mra. A, Vepai M. Mabamote Ben F. Ivy Lam G. Kay Publicity Committee Auditing Committee Stents ond Features Robert Oldham, Cheirmae Committos a hairman i Bert Swezea, Choirman Mn. George Tilden, Window Display ‘a. pir m 4 Hazen Titus, Chairman Four-Minule Men” 4