Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1877-06-08
ID. b. INN FL d co.


VhhN as hSSA9 HbGtS nave 10 S6Ys
DIR. Chamblin and Nj. Il. Bartlett,
two of the assignees Of d. b. Immel
& Co., called on us yesterday for the
purpose of submitting, through tine
columns of the SENTINEL, some facts
regarding the condition of the suspend
ed bank. What we shall state may
therefore be accepted as correct, com
ing as it does from gentlemen who are
in position 10 know just how the case
stands. To begin with, we may re.
mark that matters, as investigation
proceeds, look better than was at first
supposed. 1t is a fact that the assets
OF the concern are considerably-sev-
eral thousand dollars-in excess of the
liabilities. To put 1t a little palmer,
the bank owes forty odd thousand dol
lars and has over fifty thousand due it.
The assets are, of course, all in ac-
counts against the business commune
ty, but most of these are considered
collectable in time. There is no money
on hand, and it will take time to col
lect the outstanding accounts, but the
assignees feel s%anguine that, if all
things go right, depositors will ulti-
mateiy get every dollar of their money.
The only thing that might operate to
thwart this very desirable consumma-
ton would be the throwing of the es-
tate into bankruptcy. If that should
be done, it is hardly probable that any
Of the creditors would receive a dime.
bankruptcy cases are invariably at
tended with great delay and heavy ex-
pense in their settlement. This mode
of procedure, it is feared, would absorb
the whole of the assets in the
case under notice. The assign
ees are capable of conducting
the business to "a final settlement as
expeditiously, and far more economi-
cally than the Federal officials, who
would have charge of affairs in case of
the Inauguration of bankruptcy pro-
ceedings. We have no means of cam
vassing the sense of the creditors, but
we have no doubt that they, one and
all, would prefer to leave the whole
matter in the hands of the assignees.
If this course be pursued these gentle
men feel satisfied hat they can pay
everybody, and have something left to
turn over TO Mr.. Immel's credit. Much
va o6Btif bDbh VIZ tol-
lections. This much for the banking
business proper. Now for the stock
account.
1t should be stated in advance that
the banking and stock business were
conducted independent of each other.
1t is the opinion OF lawyers, as we are
informed by the assignees, that there
are grave doubts as to whether the two
accounts can be consolidated. This
brings us directly to the question,
which, the assignes desire, should be
submitted 10 those concerned. They
have satisfactory assurances from Mr..
Immel that the stock matters are all
straight below, aud it is his wish as
well as theirs, That he be allowed to &c
ahead and wind up this portion of the
business. All of the a>sienees have
stocks in Mr.. InInel's hands
which they are willing he should
manipulate, while they give their
attention 10 the other branch of
the business. Mr.. Immel gives
assurances that all who have stocks
with him will receive the same or al
equivalent in a remarkably short time
If he is permitted to personally super
intend affairs in this connection. The
work of the assignees will also be
freed of many complications if the
banking and stock business are kept
separately, thus expediting a final set
Element. Mr.. Immel is willing TO
render all the aid i'm his power toward
the proper and satisfactory adjustment
of his affairs, and to this end he has
lately interviewed many of those who
have stock accounts with him, pretty
much all of whom, we believe, have
signifed a willingness to leave this
portion of the business in his hands.
This, we believe, lovers about all of
the points which the assIgnees re-
quested use TO give to the public. In
their opinion the chief thing to be
avoided is a bankruptcy suit. IT this
can he done and Mr.. Immel arrives at
n satisfactory understanding with his
stock clients. there is no doubt that all
will get their money within a short
time. AS matters proceed the as
signees will. from time to time. make
known the true status of affairs, as
well as their intentions and the mode
of procedure contemplated.