Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1878-01-22
A. Z. MeAulcy suggested TINT it would be

A. +. McAulcy suggested that it would be
well to put u man from each locality where
the creditors reside on the committee.
Mr.. Fogerty thought there was to much
quarrelling going on. Parties who took out
attachments were willing to withdraw, but
couldn't let go and permit others to come in.
Considerable discussion here followed which
was mainly y repetition Of previous talk, dur
ing which Mr.. Gamble stated tina an assignee
appointed outside the bankruptcy court
would have no jurisdiction in Nebraska and
closed by remarkins that it was not possible
to make an assignee tonight.
There were signs of u dissolution of the
meeting, but Rev. Mr.. Ward rose and held
the. attention Of the crowd until quiet was
restored.
After more discussion Mr.. Boyd moved
that the creditors consult rs to the appoint
ment of an assignee tonight. His motion
was adopted.
A. F. McAuley nominated Maj. Dewitt as
assignee, but he declined.
DR.. Burlcigh nominated Soc Drew as az.
signee, to be assisted by a committee, as sug-
gested by Rev. Joseph Ward. Mr.. Drew
was elected as assignee.
Mr.. Gamble gave notice that his clients
were not bound by the election.
Mr.. McAuley moved a reconsideration of
the election.
Mr.. Sphinx moved that the meeting adj
journ.
Nj. McAu!ey's motion was lost. on a di-
vision of the house.
DIR. Burleigh moved that NO additional
a~ssignees be appointed to act with Mr..
Drew. The motion was adopted, and Peter
Jenal, OF Cedar county, and John Stafford,
of Bon Homme county, were chosen.
Mr.. McAuley moved that when the meet,
ing adjourn it be to 7:ao o'clock p. M. to-
morrow at the court house, and that credi.
tors only be present.
Mr.. Gruber moved that the three ~assignees
appointed meet and select one of their num-
Der to take charge Of the work, under super
vision Of the other ~assignees, and that the
man thus chosen give a bond and receive a
compensation.
Mr.. McAuley withdrew his motion.
Mr.. Gruber's motion was adopted.
On motion the bond OF the principal as
signee was fixed at $4,000.
DR.. Burleigh moved that the %assignees b
required to pay over to the creditors, pr,
rata, as fast as they shall have c~ollecte,
S5,OSO, and that on the last collection the
shall pay over a fractional part Of $4,000
if it shall so result. Also that a statemen
Of the condition Of affairs be made ever
thirty days. This motion was adopted.
Mr.. Gruber moved that the bon,
be approved " Judge p. c. Shannon an
deposited in the vault of the Is. Nationa
, bank. Adopted.
I S. L. Sphinx and ]. j. Boyd were selec,e
as attorneys to represent the creditors, an
Bartlett Tripp to represent Mr.. Farmer
They were II draw UP papers and carry GU
the views Of the melting.
On motion Of Dr.. Barleish the per dlcu
: Of the assiynees was fixed at three dolla,
for every day Of service, and travelling ey
penses.
1t was moved aud adopted, as an ameuc
I ment, that the assignee glsing a bond r,
ceive four dollars per day for every DAY &C
tually~ engaged.
v On motion Of Mr.. SPHINX, the assignee
were Instructed t. perform any necessar
acts which the meeting had omitted to il
: struct them upon.
Dr.. Burleigh moved that the assignee
y and attorneys meet tomorrow at ten o'clocl
I q. N at Bartlett Trips office, and TAX
measures to begin closing up the affairs {
:. the bank. The motion was adopted.
e On motion, the meeting adjourned.
The result of this meeting is that harmon
ious action Of all the creditors has been Sc
cured, bankruptcy has been avoided and til
best possible results will be attained !
closing up the affiirs Of the dcfunct banl
Mr.. Tripr, attorney for M
Farmer, and Mr.. Drew, as
signee, are of the opinion that creditors wi
: realize seventy five per cent of their de
!, posts. at least. This will b. a much be,
, ter outcome than was anticipated. Affair
look much more hopeful since the mectin
than before. Creditors have taken fres'
courage aud all hands are ready to turn i
and make the best-result, out of the unfor
{ tune.
: REAL ESTATE.