Show WARM BANK I MEETINU Utah National Stockholders Order 50 Per Cent Assessment c MR WALLACES t PROTEST OBJECTED TO VOTING OP CEE ThIN STOCK f t Charged That the Stoutt lock of 125 Cged Tat Shares Was Sold to Cashier Ray hould Without Due Notice Believed Be-lieved That Bank Will Now Be Beorganized 4 1 ames Chipnmn president of the XTtah National bank and his frIends ion a icton at the meeting of the eUxlthelders The assessment of 50 per cent carried the question of liquidation liqui-dation was ruled out and the subject At c a receiver was never mentioned the same Urae the meeting was decidedly de-cidedly hot for a time and a question was raised that may vet lead to awk wrd complications This arose from he yale by the bank o 125 shares of stock held as security without what i Is claimed was sufficient advertisement advertise-ment There were present at the meeting1 Josenh Baumgurten H W Brown Jar = > s Chipman W H Dale J E Openshaw Gill S Peyion Alexander Rogers B G Raybould George Y Wallace P L Williams Frank 1 Stephens and P S Sewers representing represent-ing in all l 792 shares The meeting was presided over by James Chipman and W H Dale acted a secretary Liquidation Resolution Immediately upon convening the fate of the bank was brought to the test by the following resolution introduced ly George Y Wallace Whereas The honorable comptroller of the currency of the United States recommended recom-mended that an assessment be levied upon ihe capial stock of the Utah National bark aid further that the board of directors di-rectors of said bank recommend the levying levy-ing of such an assessment now therefore be It Rcsolxcd That an assessment be levied upon the capital stock of this bank suffi dent to pay off Its obligations to depositors 3 positors preparatory to liquidation and rCturlng to the stockholder in proportion propor-tion to their several holdings all th monpv that can be realized out of the banks securities after paying the obligations obliga-tions to depositors Thf motion of Mr Wallace on this resolution was seconded by Alexander Hoppers As a substitute P L Williams offered of-fered the following Resolved That an assessment of S percent per-cent of the par value of the stock of this association b and is hereby Ie 1 The substitute carried by a vote of 523 for to 2r > 9 against M Wallaces Protest At this point George Y Wallace arose to protest on behalf of the 180 shares he represented against the counting for this substitute of 125 shares of stock that had been taken from the bank where It had been held u security and sold without proper notice no-tice having been given The stock had been sold last Saturday by President OWpmzm to Secretary Raybould and Mr Wallace held that these shares should not be voted He was overruled In the meeting and took his departure after demanding of Secretary Dale a certified copy of the proceeding of the mt Fling He would not state lat night vhethtT or not he would carry his protest test further I is generally understood that this action yesterday means the reorganiza ton nd continuance of the bank although al-though nothing further was done at the meeting looking toward this end and I nothing would be given out on the subject sub-ject Ly those most deeply Interested |