Market Street Bank (San Francisco, CA)

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COAST BANK IN TROUBLE

SAN FRANCISCO, February 21.-The Market Street Bank has suspended.

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BANK IN TROUBLE

SAN FRANCISCO, February 21.The Market Street Bank has suspended.

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San Francisco Bank Suspends

San Francisco, Cal.-The Market Street Savings and Commercial Bank temporarily suspended payment Friday morning. A notice posted says the bank is entirely solvent, but has not sufficient cash on hand.

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San Francisco Bank Suspends

San Francisco, Cal.-The Market Street Savings and Commercial Bank temporarily suspended payment Friday morning. A notice posted says the bank is entirely solvent, but has not sufficient cash on hand.

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San Francisco Bank Suspends

San Francisco, Cal.-The Market Street Savings and Commercial Bank temporarily suspended payment Friday morning. A notice posted says the bank is entirely solvent, but has not sufficient cash on hand.

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TO REHABILITATE CALIFORNIA BANKS (By Associated Press.) SAN FRANCISCO, March 16. The Bank Commissioners held a special meeting today to listen to the proposition to rehabilitate the Market Street Bank. which suspended some weeks ago. The plan submitted involves the taking over of the assets of the bank by a securities company, to be styled the Market Street Securities Company. which corporation will issue bonds secured by the assets of the bank. The commissioners informed President Martel that if successful in securing the signatures of creditors and succeeded in introducing new capital into the crippled concern, they would grant him further time.

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BANK COMMISSIONERS MAY REOPEN INSTITUTION By Associated Press. SAN FRANCISCO, March 16.-The bank commissioners held a special meeting today to listen to a proposition to rehabilitate the Market Street bank, which suspended some weeks ago. The plan submitted involves taking over the assets of the bank by a securities company to be styled the Market Street Securities company, which corporation will issue bonds secured by the assets of the bank. The commissioners informed President Martel that if he was successful in securing the signatures of the creditors and succeeded in introducing new capital into the crippled concern they would grant him a further hearing.

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ASK FOR RECEIVER FOR SUSPENDED BANK Recommendation That Attorney General Proceed Against Market Street Concern The bank commissioners yesterday recommended that Attorney General Webb begin legal proceedings for the appointment of a receiver for the Market street bank, because the directors of that institution have failed to make good their promises to straighten out their financial affairs within a month's time. When the bank suspended it had $1,000,000 on deposit, of which $800,000 had been loaned on mortgages. Its officers claimed that they would make good and pay dollar for dollar, but owing to the financial stringency they were unable to keep 'their promise within the prescribed time. The action came as a surprise to the officials of the bank, who say that they will contest the suit. A few days ago they proposed a scheme to issue bonds for the passbooks of the depositors. This plan was neither approved nor condemned by the bank commissioners, who issued a statement yesterday say. ing that the matter rested entirely with the officials of the bank. Attorney General Webb yesterday filed a suit to have the bank of Greater San Francisco declared insolvent, and to have a receiver appointed. It is alleged that the bank has conducted its business in an unsafe manner, and failed to comply with the orders of the bank commissioners regarding the disposition of certain stocks and bonds. The bank was declared insolvent February 28 by the bank commissioners.

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GOOD NEWS FOR DEPOSITORS OF THE MARKET STREET BANK The announcement made by the Market Street Bank to the public in another column, wherein it is stated that arrangements are being perfected for the reopening for general business of the Market Street Bank in a few days, comes as welcome news to both depositors and the business world. The plan of resumption contemplates the issuance to depositors of bonds in denominations of ten dollars and upward bearing 5 per cent interest, secured by and to be a first lien upon all the assets of the bank, which are claimed to exceed the liabilities to depositors by 2 1/2 times their value. The bonds are being as freely accepted as the president, A. F. Martel, can sign them. This plan, while affording the depositor every possible guarantee of receiving 100 cents on the dollar, obviates the appointment of a receiver, and thus saves to the bank an enormous expense that would otherwise be entailed.

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MARKET STREET BANK IN COURT Attorney General Files Suit to Have Institution Adjudged Insolvent Suit to have the Market street bank adjudged insolvent and to have a receiver appointed was filed in the superior court yesterday by Attorney General Webb. Pursuant to the prayer of the complaint, Presiding Judge Sturtevant signed a restraining order prohibiting the directors of the bank, A. F. Martel, L. Q. Haven, E. C. Dudley, W. S. Upham and Oliver Ellsworth, and all other officials of the institution, from transacting or attempting to transact any business of the bank, from disposing of or attempting to dispose of any of its assets, or from interfering in any manner with the property and assets of the corporation during the pendency of the action. The suit was assigned by Judge Sturtevant to his own department. The complaint filed by the attorney general alleges that the bank and its directors have been conducting the business of the corporation in an unsafe manner. The Market street bank closed its doors February 20, owing to inability to meet obligations. The bank commissioners the same day started an investigation of the affairs of the bank, and March 19 resolved that it was unsafe for the corporation to continue transacting business and assumed control from that date. have the German system adopted here. For despite all this criticism I believe that the system of teaching young children that has developed in America Is the most beautiful educational development that we have brought about. It creates independence: it makes for individuality and brings out the qualities of leadership. The only trouble is that it is not always applied correctly. It is like a dangerous weapon that must be handled carefully. Common sense will suggest its proper evolution. But it is the only method devised which has brought out the ability to do a new thing. and to do it when some one isn't there to tell you how. PROGRESS IN CALIFORNIA Judge Frank J. Murasky outlined to the teachers the work accomplished by the juvenile courts in San Francisco. Dr. Alexis F. Lange, professor of education at the University of California. spoke at length on "Public Spirit and Education." Lange outlined educational progress in California in the last 30 years and discussed the relation of public spirit to higher education. He said: The so called university spirit is ceasing to be merely an animal spirit, but is one of publie spirit. Our nation is coming of age. For the first time it has a conscience, and for much of this higher education is responsible. And of those who are doing a great work in education the women are playing a great part. The institute will continue this morning, when Dr. Russell will again speak.

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Appoints Bank Receiver SAN FRANCISCO, June 20.-Lewis H. Mooser, a real estate man, was today appointed receiver of the Market Street bank by Presiding Judge Sturtevant of the superior court. The bank failed some time ago.

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TRY TO SAVE BANK FROM INSOLVENCY I. P. Allen Petitions to Reorgan= ize and Recapitalize Market Street Institution A last attmpt is to be made to save the Market Street bank from insolvency. Judge Sturtevant, who 10 days ago declared the institution bankrupt and appointed Louis H. Mooser receiver, has consented to return' from Pacific Grove, where he is spending a vacation, Friday next to hear a petition vacating the appointment and giving the stock holders and directors permission to take the assets and resume business with new and additional capital. A motion for a new trial will also be made by the bank. The petition for leave to put new money into the bank and reopen it for business was filed yesterday by I. P. Allen, who owns 1,108 fully paid up shares of its stock, being all the capital stock issued, with the exception of 75 shares. Allen complains that in reckoning the value of the assets the bank commissioners did not appraise the unsubscribed stock nor the value of the leasehold on the bank premises as worth anything; also, that they undervalued the bonds, mortgages and landed estate. The scheme of rehabilitation which Allen proposes is as follows: He will take the Burlingame land at $227,650, the commercial loans at $168,984, the bonds at $113,929, the bank vault at $19,637, the fixtures at $22,550, and $100,000 of the real estate loans and leasehold interest at $30,000, together with the unissued capital stock, and will cancel an indebtedness equal to the aggregate of the sums mentioned. The unissued capital stock he agrees to sell, paying the proceeds into the bank, less 15 per cent, which he will retain is commission. This proposition, Allen says in his petition, he makes in his own interest and in the interest of all the stock holders, and to avoid the expense of administering the affairs of the bank by a receiver in the proceedings now pending. Receiver Mooser has not taken charge of the bank, being restrained by the 10 days' stay granted by Judge Sturtevant. That stay was yesterday extended by Judge Troutt until Saturday next.

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SCHEME TO REOPEN BANK IS REJECTED Court Has No Power to Accept the Plan Proposed by Stock Holder Allen The scheme of I. B. Allen for the rehabilitation of the insolvent Market street bank, of which he is the principal stock holder. was summarily turned down by Judge Sturtevant yesterday. Allen's proposal was to take over a large proportion of the assets of the bank, to sell unissued stock on a 15 per cent commission and to reopen the institution and run it under supervision of the court and bank commissioners. Judge Sturtevant pointed out that there was no provision of the law under which he could authorize such a procedure. His power was limited to adjudging the bank solvent or insolvent and having already adjudged it insolvent and named a receiver, he could not now permit a stock holder to reopen it. To sanction such a scheme as that submitted by Allen, the judge added, would simply result in tying up the affairs of the bank in still further litigation and thus keep the depositors from sharing in the assets. The stay granted the bank pending the perfection of an appeal against the judgment declaring the institution insolvent expired yesterday and, unless the appeal is perfected before 10 a. m. today, Louis H. Mooser, the receiver, will take charge at that hour. In order to put the appeal in shape, it is necessary for the bank to deposit an appeal bond. Attorney P. L. Shuman, who has replaced Oliver Ellsworth as counsel for the bank, yesterday asked Judge Sturtevant to fix the amount of the bond. The judge delayed doing so until this morning, intimating, however, that he would probably name a sum in the neighborhood of $200,000. W. W. Kaufman, attorney for the receiver, will ask that the bond be fixed at four or five times that sum. "This is an absolutely frivolous appeal," said Kaufman last night. "It can only operate to keep the depositors. out of their money for a long period. If the appeal be forced it keeps Mr. Mooser from taking possession of the bank, but if he is permitted to go in he will be able to pay the depositors a 25 per cent dividend in two weeks. An appeal will tie up the assets for at least a year."

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BANK DEPOSITORS ASK FOR RETURN OF BOOKS Market Street Securities Com= pany Refuses to Give Them Back The Market Street bank was besieged with depositors all day yesterday. They were endeavoring to secure the return of their bankbooks, which they had surrendered for bonds issued by the Market Street securities company. Receiver Mooser could not return the books and the securities company has refused to do so. In a statement issued Tuesday to the depositors Mooser advised them to hold on to their books. Since the publication of his statement many of the depositors have attempted to return their bonds and get their books back. None of the officers of the securities company could be seen yesterday and it could not be ascertained whether the books will be returned for the bonds.

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MARKET BANK YET FIGHTS FOR DELAY New Attorney, Joseph Campbell, Is Unsuccessful in Objections to Bond Sale Declares He Will Have New Scheme of Rehabilitation, but Court Is Skeptical After a strenuous but unavailing objection by Attorney Joseph Campbell, the latest of the procession of attorneys for the directors of the Market street bank, Judge Sturtevant vesterday permitted Receiver Louis H. Mooser to sell 20 bonds of the Yosemite Valley railroad company. Mooser said the offer he had received had to be accepted yesterday or else it would be withdrawn. "I will immediately serve uotice of appeal, so the bonds will not be sold. anyway," threatened Campbell as he left the court. When Campbell asked for a continuance of the hearing Judge Sturtevant said: "I would like to accommodate you, but you are the fourth attorney the bank has had, and they have all pleaded for delay." Campbell answered he had only been retained the day before, and said he for was busy preparing a petition presentation to the court, embodying a scheme that he believed would end the entire proceedings immediately and result in the depositors getting all their money. "The same thing has been said to me repeatedly in behalf of the directors, but we have got no further," returned the judge. "I will hear the petition." BONDS HARD TO SELL Receiver Mooser testified that he had made inquiries and had ascertained that there was little sale for the bonds, and that $900 was a very fair offer. His brother, Joseph Mooser, who is in the the as to made of brokers, inquiries employ of receiver, testified who hard had told him the bonds were very to deal in. "Do you folks intend to raise this bid?' asked Judge Sturtevant of Campbell. "No, but we hope to make a showing on Monday that will end this whole matter," Campbell replied. I have been hearing that for months past. The petition is granted," concluded the court. Still another attempt is to be made on behalf of the Market street securities company to have set aside the judgment by which the Market street bank was declared insolvent and a receiver appointed. S. R. Porter. a depositor, who has over $1.600 in the bank, gave notice yesterday that on August 21 he will move for a new trial of the cause and for leave to intervene. He proposes a scheme similar to that which has already been turned down by Judge Sturtevant, by which the securities company will turn over the passbooks it has obtained, representing $656,000 of deposits, in return for the Burlingame terrace lots and the contracts of sale at a valuation of $321,000 and other assets and property of the bank at a valuation of $350,000. There will then remain in the hands of the bank, according to Porter's petition, cash and convertible securities worth $390,000, which will be sufficient to pay all the debts and liabilHe claims, ities of the institution. therefore, that the bank is not insolvent, never has been insolvent, and that the judgment should be set aside. DENIES CLASH WITH NASH "The report that there has been a clash between Mr. Nash and myself is false." said A. F. Martel, president of the bank, yesterday. Martel, who has refused to talk much of late, spoke up when he was questioned as to a clash between himself and W. B. Nash. He denied that there had been anything but the best of feelings between himself and Nash. Nash also denied the report. He said that there was no danger of a clash, that he and Martel had always been the best of friends, and that he saw no reason for the breaking of that friendship. Louis H. Mooser, the receiver of the bank, stated that in his opinion Martel and Nash were sure to clash sooner or later. He said: "When I. as receiver, make a demand on the Market street securities company for the books of the depositors, which it holds, Martel will be willing to turn them over, but the others in the securities company possibly will object. If they do object, and Martel insists upon turning the books over to me, I do not see how a clash can be averted." A course of investigation into the affairs of the bank has been outlined by the district attorney, which he re6 fuses to give out. The refusal of Nash to testify, upon the advice of his attorney, now puts the matter up to the grand jury. The case has not yet been presented to the grand jury,

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PROTESTS SALE OF BANK'S SECURITIES Attorney for Directors of Mar= ket Street Concern Appeals From Order of Sturtevant True to his threat made Wednesday Attorney Joseph Campbell yesterday filed notice of appeal in behalf of the directors of the Market street bank against the order of Judge Sturtevant permitting the receiver to sell 20 bonds of the Yosemite valley railroad company for $900 each. "This notice of appeal will not prevent me from going on with the sale," said Receiver Mooser last night. "The mere fact that Campbell has appealed from the decision of Judge Sturtevant does not prevent me from selling the bonds as the original petition asked. As soon as the people who bid for the bonds appear and pay over the money they can have the bonds." Mooser was busily engaged yesterday in preparing a report of the assets of the bank, which he will file with the court in a few days. It will require more than $200,000 to reopen the bank. The capital stock of $109,000 will have to be made up, besides the impairment of $108,000 of the securities which has already been reported. No action has yet been taken by the district attorney in regard to bringing the matter before the grand jury. District Attorney Langdon stated last night that he was doing nothing in the case. Until the entire report of the receiver has been filed it is probable that no action will be taken. Martel, Nash and Meigs still have hopes of reopening the wrecked institution.

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GRAND JURY WILL INVESTIGATE BANK If Findings of Receiver Mooser Are Correct Indictments Are Expected Depositors of Market Street Concern Will Hold an Important Meeting Today Action by the grand jury in the Market street bank case probably will be taken Tuesday, when the inquisitors assemble. District Attorney Langdon has finished taking testimony. He took only the testimony of the receiver of the bank and of President Martel. Nash, the vice president and cashier, refused to testify upon the advice of his attorney. If the findings of Receiver Mooser are found to be correct, indictments with many counts will probably result from the investigations which are to be carried on by the grand jury. The plans of Attorney Joseph Campbell for the rehabilitation of the bank will be heard by Judge Sturtevant Monday. So many plans for the reopening of the bank have been submitted that there is small chance of Campbell's plan being accepted. The depositors are clamoring for their money, or as much of it as they can get. Mooser promises to pay a dividend in a few weeks, but if Campbell's plan is accepted the dividend will have to be postponed until it is found out whether or not the plan will be successful. The Market street bank depositors' protective association, which was formed by depositors of the bank July 26, will hold another public meeting this afternoon at 1 o'clock in the Colonial theater. The officers of the association will report to the members during the meeting. Only members of the association and prospective members are to be admitted. An effort is to be made to bring the membership of the association up to 1,000.

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NEW DISCREPANCY FOUND BY MOOSER Receiver of Market Street Bank Finds Another Strange Real Estate Deal Experts who worked on the books of the Market street bank yesterday did not toil for naught. Early in the day's work, according to Louis H. Mooser, receiver for the bank, a discrepancy was discovered which brings the names of W. B. Nash and Charles W. Smith, who figured in the Burlingame terrace muddle, into the limelight. For several days accountants have been diligently working to discover additional discrepancies to those which it is alleged have already been found. Yesterday records of a real estate deal in which a piece of property in the south line of Pacific avenue, between Baker and Broderick streets, had been purchased and improved was singled out. Plainly enough, Mooser says, the entry of the money loaned was made, but beyond that nothing further appears on record. The names of Nash and Smith appear in connection with the deal and the experts are puzzled to learn where $9,100 which should have been paid to the bank as interest and principal on the loan went. Mooser declared that this amount was equally divided between Nash and Smith when it should have been turned into the bank and added to the institution's profits. When the grand jury convenes again on September 1 additional evidence to that already found will be presented by the experts, whom Mooser declares will have found further trace of the alleged misappropriation of the funds realized by this real estate transaction. L. H. Mooser yesterday made the following statement: "Smith and Nash borrowed $10,000 from the bank with which to purchase property. Later $14,000 was loaned for the purpose of erecting an apartment house on the property. The $10,000 was repaid, but notes calling for $3,650 and $5,500 in partial payment were never paid. So there is $9,000 due the bank which was never paid, and We have every reason to believe that this was divided and the record which should have been made carefully covered up." Charles W. Smith was a clerk in the employ of Nash and is alleged to have been the dummy purchaser of the Burlingame terrace property. At present he is in New York in connection with business concerning the Direct Line telephone company.

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RECEIVER SPURNS COMPANY'S SCHEME Market Street Securities Con= cern's Plan for Wrecked Bank Is Refused The Market street securities company, the concern that was organized for the purpose of rehabilitating the Market street bank, has submitted another plan to the receiver for the rehabilitation of the bank. Having secured possessión of the bank books of a good many of the depositors, through issuing bonds, the securities company now submits a proposition to Louis H. Mooser, the receiver, whereby it offers to accept the Burlingame lots, $92,000 in cash, 52 bonds and several mortgages and notes, which Mooser says are the best assets the bank now possesses, in lieu of the claims it holds against the bank. The securities company is the holder of bank books and certificates of deposit to the amount of $655,794.69. These books and certificates were secured from depositors. o Mooser says the securities company does not own the bank books. His attorney, W. W. Kaufman, is of the opinion that the offer of the securities is neither feasible nor legal. He declares the securities company's legal right to hold the books is being contested by the depositors and that the depositors would object strenuously to any such a proposition. The depositors' association held a meeting when they heard of the proposal and decided to protest against any such plan. The executive committee has prepared a letter, in which it advises its members not to accept the interest on their bonds from the securities company, because if they do accept this interest, wihch is payable October 1, it will be impossible to set aside the transfer, which they are now attempting to do.

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MARTEL IS FREED ON $15,000 BONDS A. F. Martel, the indicted ex-president of the Market street bank, yesterday secured his release on bail from the county jail. His codefendants, W. B. Nash and L. Q. Haven, were already out. The amount of bail in Martel's case was $15,000. His bondsmen were Frank Drew, Frank Coghlan and M. D. Levinson. Drew, who is an attorney representing Nash, went on the bond only temporarily, and another name will be substituted for his on Monday. A citizen who had promised to become a surety failed to appear in Judge Dunne's court, and Drew, although reluctant to go on the bond, was prevailed to do so by Attorney T. C. West, in order to save Martel a return to the county jail. Decision on the demurrers interposed to the indictments by Martel, Nash and Haven was continued for a week by Judge Dunne yesterday. The announcement that the Market Street Securities company, the company that issued bonds to the depositors of the Market street bank in lieu of their bank books, was now paying the first installment of interest has caused Louis H. Mooser, receiver of the bank, to issue a statement, in which he advises the depositors not to accept the interest on the bonds. Mooser, in his statement, argues that should any of the bond holders accept the interest, he, the receiver, will be compelled to pay to the securities company the dividend that that depositor should receive; that the securities company will receive in the neighborhood of 60 cents on the dollar, while the depositor will only receive 5 per cent interest each year," with a large possibility of never regaining any portion of his principal. Throughout his entire statement Mooser argues that the securities company has not sufficient assets to pay the principal.

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DEPOSITORS' NOTICE ! Dividend payments will be resumed at 10 o'clock Wednesday, February 17, 1909, at 155 Sutter street, LOUIS H. MOOSER, Receiver Market Street Bank.

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TRIAL OF ALLEGED WRECKER OF BANK Cashier Nash of Market Street Concern Faces Jury on Felony Charge Accused of Making False Sworn Statements to the Bank Commissioners The first of the criminal trials arising out of the suspension of payment by the Market street bank more than a year ago began in Judge Dunne's court yesterday, William B. Nash, the cashier, being placed on trial on an indictment charging that he made false reports to the bank commissioners. The jury was impaneled at the morning session and the taking of testimony will commence today. THE SPECIFIC CHARGE The specific allegation of the indictment is that in August, 1906, Nash, together with A. F. Martel, president of the bank, made a sworn statement to the commissioners that the entire capital stock issued. totaling $102,000, had been paid for in actual coin, whereas $35,000 of the stock, issued to Martel and Nash, was paid for with bonds of the Sierra Nevada power and water company, of which Martel and Nash were president and secretary respectively. Louis Ferrari, the assistant district attorney who is conducting the prosecution, states that the trial will involve an investigation of the affairs of the bank from the time of its incorporation in March, 1903. Ferrari asserts that every report made to the commissioners was false. Of the $50,000 supposed to have been paid for stock when the bank incorporated only $950 was paid in cash, the remainder being represented by notes given by the incorporators. BONDS GIVEN FOR STOCK The transaction by which Nash and Martel issued to themselves $35,000 worth of stock of the bank in exchange for bonds of the Sierra Nevada power and water company took, place November 18, 1905. It is asserted that at that time the bonds of the Sierra Nevada company were practically worthless and were not listed on the market. Not a cent of money went into the possession of the bank for the stock it issued. There was owing to the bank by the Sierra Nevada company at that time $30,000 on an unsecured note. The penalty for the offense charged is imprisonment for from three to ten years. ARRAY OF ATTORNEYS Opposed to Prosecutor Ferrari, Nash has four lawyers attending to his defense-Carroll Cook, Joseph Campbell, Frank Drew and William Metson. All were in court yesterday." The jury impaneled comprises the following: Nels S. Nelson, Christopher Brannigan, Robert Lutge, Henry Euler, John Ewing, C. Copertini, H. Faber, Antonio Scalmanini, Charles Barner, Adolph L. Both, Hermann E. Besthorn and Samuel Kragen.

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SUIT ON NOTE GIVEN MARKET STREET BANK Purchaser of Assets Seeks to Recover $13,000 From Woman Suit for $15,000 on a promissory note was commenced yesterday against Marinda Rittenhouse by Ira M. Cobe, the Chicago speculator. who purchased from the receiver all the assets of the insolvent Market street bank. The defendant gave the bank a note for that amount July 11. 1905, secured by a mortgage on property in Golden Gate avenue, west of Pierce street. Cobe asks for judgment directing the sale of the realty in satisfaction of his claim.

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ORDER MEIGS AND CRANE IMPRISONED Officials of Market Street Se= curities Company Adjudged in Contempt Given Until 9 o'clock Today to Surrender Books to the Receiver F. M. Meigs and Arthur Crane, president and secretary respectively of the Market street securities company, were adjudged guilty of contempt of court by Judge Seawell yesterday and ordered confined in the county jail until they have turned over to William Greer Harrison, receiver, the books and assets of the securities company. Their contemptuous conduct consisted in their refusal to deliver up the papers upon regular demand made by . Harrison. The order of commitment to jail was not put into the hands of the sheriff for execution yesterday. P. L. Benjamin, attorney for Samuel L. Jenkins, the plaintiff in the case, obtained from Meigs and Crane a promise that they would, deliver up the books to Harrison by 9 o'clock this morning, and he agreed to suspend proceedings until that hour. "If the papers are not surrendered by 9 tomorrow morning," said Benjamin last night, "I will place the order in the hands of the sheriff for execution. I fear, however, they do not intend to keep their promise. I think by tomorrow morning they will be out of the city. Under the present proceedings we can not take forcible possession of the papers, and will have to begin another action for that purpose if Meigs and Crane still refuse to give them up. I don't believe they will remove the books out of San Francisco." It is claimed in the complaint of Jenkins that Meigs and Crane have mismanaged the Market street securities company for their own benefit, and that they retained more than $100,000 paid the company by the receiver of the insolvent Market street bank. They are also alleged to have sold stock of the Market street securities company and retained the cash.

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BANKERS' AFFIDAVIT DISMISSED BY COURT Allegations of Conspiracy Are Thrown Out of Case The affidavit made by F. M. Meigs and Arthur Crane, president and secretary of the Market street securities company, making allegations of conspiracy against Attorney J. C. Campbell, Louis Mooser, receiver of the Market street bank, and Attorney P. L. Benjamin was ordered stricken from the files by Judge Seawell yesterday. The charge made by Meigs and Crane was that Campbell, while representing the Market street bank, accepted a fee of $5,000 from Stanley W. Swabey, representative of Ira M. Cobe, to dismiss the appeal from the judgment declaring the bank insolvent and that thereupon Swabey, for Cobe, purchased all the assets of the bank from the receiver.