, 1877-09-25

Ar' NtElaH kHouEht ttlo thluncli liof #nfiu
be great Inconvenience without The ilcceivcF
we're appointed At the same time. There was n
very large amoRnt 0t money ot1 special deposit
10 the vaults, and he supposed The hank a',.i
tl'e injunction atoMc were issued there would
bc no ute IL handle tho assets and 10 enable
spccial dcpostots u get their funds, th.
tien. SsfIes hoped tic gentleman Ji1 not sup.
assets nj the bunk.
sir. Merriam taIu mo" but they were CON-
tr"llei by the bank officers, AMI they could not
bc gut at.
str. Jcwett-Not necessarily. r.,
ten. Stiles said II lis watrll WIS there he
coui'i 70 and get It, and tue Court wotld not
Interfere with him. Tins Recommendation ot
Mr.. Moran "eordc'l With his Views. No man
generally acceptable than Mr.. Mason.
Mr. Plutnmcr remarked That, III ur1lcr to ad.
tnirlsser tlic asset*. the Receiver slluald be d
thorough, oct,vs business a! ~ ile k"ew Of no
dcrstool that trrtain things had bern done at
tue bank whlcl, we're not strictly straight, H1,d q
Nc civer should hc put ia charge Of It's aIaass
without delay.
sr. .tewett said he had tue misfortune 10
represent an untashtonablc. II not a dtsagrco-
.bEc, c!cot.-onc that peop'e probably would bc
ltsposcd to ocn.urc severely; but hc thought
h. 1.-THE epcaker) had ocon Ionu enough In Tho
eity, and was we'll enough knnwn ut least by
hi* professional brethren, to lie able tu a1y
TINT, ~ far a. he had had IL do, nliylt hayo
~ An WILL &0F9*tDR tHG OINcLfH QI EttE O11tk, 40
would tounsel neither waste nor thu Improper
management of tue banks affairs. Az ruon ~
nc 1!al received nut!ce thn. the application
would bc nladc he t,ul told the oiti.rfs Ut tho
ton WA grantrd, 1t would relate back to tho
date al the notice, aud they ruu'd do nothing.
1t was true that there were u large
numbcr OF dcpos'tors who wouhl 20
therefore, Tor him to state tha:- ~ he undcr-
ssoo1 It, there had been nu sqlanslcriuE, no
nlsapnsopriatiun, no stealing. -i.o.hlng per
haps tnofc = serious M than m1siurtunc in the nlan-
hand at this time, md when Mr. Evans said
that hc WAS told by tic o!1Iccrs of &,t bauk thAt
they would run On mud continue tu pay uut
.ai.l IL !n {JcwcttI, and wllat iIc the spcakcf)
believed to bc tllu tact. but that would moi
answer tue purpose. The few thousand dollars
:hat cn''d he t1o'cd out III tic crowl uvcr
.hc counters for alrty days amounted " hut
little. aud 1Ie had adYlscd that II was
eetter for the bank to suspend while 1t had
INnds Md nssets wAtcll could bc converted Into
RITA than to 20 On few days, and .inaily b.
compelled ~ stop, a. It wou1i bc Inevitably, a.
every bunk In the city would be compelled IL II
all the tauncr ID l. was drawn out III sIusfa
day or week. The condition o. the bank was
this: 1t had received money md loaned It out.
II sn1st DO that, atMl loln II it sucl, way that
i t7lt,u"t be converted into ess4 At my time At
shr option Of tllc ucpostt0rs.
4 LAlttE AMOUNT HAD uEKN PAID OCT.
Perhaps Il would lIavc been better to ilaye
htoppcd y Hceks aEo. but therc WIS always lupe
u y t!,e mind u man: anl tile officers Of the
Fidelity hope.l and hoped, aud expected tor 4
long time that Tic run would cca1c, nIu ttlat
they would be able to au On with tic ordinary
amount Of nloHcy which they had, mid Wcii
they always kept rcady Tor !eposltors. uusil tho
tsturbancc WAS over aul things became qu!ct.
Therr was large amount OF assrts-of xuod
assets: Ad while tue bauk deemed It advisable,
aud he also 70 the attorney, tint it should now
atop, AMI Rcceser H appointed, and its affairs
wuuha up bs tLc Court. Au did not mean tu hu
understood that the depos!tors were not going
r. ucta vcry largx ,pruportIou Ut their mony.
Itcy could not get It tn day, or week. lut ho
believed tltak lArlsc portion Of IL wuuld hu
rtzllxed, u times changed, and the property n1id
assets Ut the bank wcrr safely converted for tic
6cnctit Of a!l the PARTIES In lntcreat. II too
inucl haste were nut ut@!. and Judgment were
exercised n tue disposition Ut t1le asscts, very
large proportion. II nut thu whole, of Tbs ucbos-
It's would ultimately b. laId 1t segtncd tu him,
therefore, that everybody ought to encourage
this vlcw of tie sttuatEun 81 tar n pructicnble
to aliny tbr excitement waicl, might grow 3ut
Of tho fact. IT It was fact. OF the assertion "
tue tact,.that thcre was nothing IN tho tank With
Which to pay. A. to tho appointment Of Re-
eelycr u oaee, he would not press It either
Why. liz was not in pos!tlun " 10 It,
| representing the party for wilutn the Kecciycr
Has 70 be appuint4a1. lie had suggested Ms.
Dcriekson, aud would NY that l.c had no con-
.,cctlou with the bank, directly or Indirectly.
1le t,ad named hin Oh aItount Of Ills fitness.
Whoever wcut to the bank Us Receiver ought to
70 NJ s}oll as hc conveniently cat!, Since 1t was
DUNG nothtnk, and t,e could safcly say tic Of
firers would E!yc up everything.
Judgs Van barel conSarrcd In tho application
for ul,scetnly haste. Tue otlieers Vt the hunk
tor lieeciycr was Dr. Turpln. 4 day or two
ought t. ,e graulr,l. II lookel bad IL hurry on
the matter. as i WIS nut usual. Thu parties
should be gwen MI opportunity to luok around
and hnd tl!c most acceptable nintl.
TUE Counr Asp5lEp
that be was personally acquainted With nearly
all The gentlemen wflosu nasnct hull bcen lncll-
TUNED, aud he WIS quito well satisfied ahat any
bank fairly AMI squ.re!y, and for tho best inter-
csts Df all cunrcruc1. liz Thought counsel owed
II to themselves, 10 tha community, and to
their clicuts to not do Or say anytAing caicuiat-
wouiu 10 ali they coul to aiiay
any such excitement. liz lad not H.alo uo Als
mind ~ tu whlcI. Of thcsc five gentlemen nan'ed
| hu would appoint, aud wus uut rrauy t. do It tl4
| few minutes; although II Il werc. absolutely
! nccrssary hc could ~ 10 work and nuke thc up
potntmens: a few hour.' delay would, how
bs S - Ressyet xu vo @ Ioas
suplDrt, an! wl1o.s appolut1nenl would haye
the approval. Of Ill cob.esnesl, he could hayu =
nIuet. rzster time In cloAing up It's at1ars, aud
c.'uld DO very mpci, bcttsr Tor tbs dsp,sitoEA,
thau Il there wa auy feeling of preiuliyy, any
hostility. towards htsil. Unucr tLcclrcumstsnccs,
tho Court fet disposcd "a n1ord I!istc oppoF-
tuully for consultation among tue lawyers ior
the purpose OF seciug II they could mt sUreo
| upon 0na !na' but tu sAis connection ho would
ltkr to have u understood that 10 did not sul.-
Kess the calling VI towusulccting. liz did nut
thrk thst WIS ti4c proper way 70 gct the maine
of proper mau to take The Nccelyerzhsp p Ut
such III institution ~ tnis. The .icp',sitors did
not know ~ much about thIs question us thu
lawyers. in faet, the REASON tho de-
pk,sitors bad employed tlu lawycra
WIS because tbs latter knew moro
about thr matter than they did. IT. making MI
oEsler fuF thu appointment u Receiver TIC
should insert clause which hs had LIQUID very
usetul In such c14ea, tho eflect VI wlirl. MS to
require tue ltceciyer u make report VI all tau
assets Ut tue very earliest poasibls day, 10 thAt
all concerned s,sht KNOW what they t!al to
realize UPON. Tbs sescr,A atturslcys' vlltnts
had left tho matter Vi scleetlug nlal. 90
those attorneys, an4 upon tilcta drvolyed 9ne
duty Of agrcclnK u{.Un une n4nlu II poatsoIe. 1le
wou(l therefore suggest elHat Cuuusv, meet aud
cuusult over the sllatter aIM sesn tleY could
not agree upon = man In wtlusa they would all
l,rp,. ttfk tt1tt cfEfFlN3uf In