Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1878-01-22
4. +. McAulcy suggested that it would DO

A. +. McAulcy suggested that it would be
we'll to put u man from each locality where
the creditors reside on the committee.
Mr.. Fogcrty 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 hero followed which
was mainly q repetition Of previous talk, dur
ing which Mr.. Gamble stated that an assignee
appointed outside the bankruptcy court
would have no jurisdiction in Nebraska and
closed by remarking that it was not possible
to make an assignee tonight.
There were signs Of a dissolution Of the
meeting, but Rev. Mr.. Ward rose and held
the, attention Of the crowd until quiet was
restored. s
After more discussion Mr.. Boyd moved
that the creditors consult as to the appoint
ment of an assignee tonight. His motion
was adopted.
Al McAuley nominated Maj. Dewitt as
assignee, but he declined.
DR.. Burleigh nominated Soc Drew as az.
signee, to be assisted by a committee, us aug
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 Il reconsideration Of
the election.
Mr.. Sphinx moved that the meeting adj
journ.
Mr.. Mc.Au!ey's motion was lost. on a d.
vision Of the house.
DIR. Burleigh moved that two 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 7:3O 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.
MI. Mc.Auley 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, pre-
rata, as fast as they shall have collected
: S5,06O, and that on the last collection the,
shall pay over a fractional part of $4,000
: if it shall 80 result. Also that a statemen
Of the condition Of affairs be made ever,
thirty days. This motion was adopted.
Mr.. Grubsr moved that the bone
be approved ~ Judge p. G. Shannon IN,
y deposited in the vault of the lst Nationa
9 bank. Adopted.
S. L. Sphinx and j.. j.. Boyd were selected
as attorneys to represent the creditors, an,
Bartlett Tripp to represent Mr.. Farmer
They were u draw Up papers and carry GU
$ the views Of the me, ting.
On motion Of Dr.. Blrleigh the per d,cu
of the assignees was fixed at taree dollar
for every day Of service. aud travelling ex
a pcnses.
1t was moved aud adopted, as an amend
ment, that the assignee giving a bond re
a ceive four dollars per day for every DAY &C
tuslly engaged.
v On motion of Mr.. SPHINX, the assignee
were Instructed t. perform any necessar
acts which the meeting had omitted to ia
struct them upon.
DR.. Burleigh moved that the assignee
and attorneys meet tom PROV at ten O'CLOCK
a. N at Bartlett Trips Office, and TAX,
measures to begin closing up the affairs q
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 credit )rs has been &C.
cured, bankruptcy has been avoided and th
best possible results will be attained Il
closing up the afflirs of the dcfunct bank
o Mr.. Tripr, attorney for MI
Farmer, and Mr.. Drew, as
signee, are of the opinion that creditors viii
realize seventy five per cent of their de
! posts, at least. This will b., a mich bet
/. ter outcome than was anticipated. Affair
look much more hopeful since the mectin,
than before. Credit ,rs have taken frest
!. courage aud all hands are ready to turn i,
and make The bestrresult, out of the unfor-
9 tune.