, 1879-07-08
THE FIDELITY.
Provisions Of tho New Law Relative
to Reoeivera Of Savings
Banks.
Hsgula1 Monthly Statement Of He-
oeiver Turpin.

It would aprear thai some OF the former de-
posttosk Of tlc defunet Fidelity Bank ARE Inov.
Ing 10 forcn the Receiver, Dr. Turpin. To a ren.
dcrins Of more detailed accounts. Those pco-
p1a who lost money In tllat concern, or ht least
who havo not yet been able to realize from tho
nssets Of the concern anything like fair por.
tIon Of the amounts due them, arc growing I'M
patient nvcr The deinY, and icci inccnscd t1,As
their dcmsntls are 80 constantly put Oft. The
drposltors Vt small amounts arc. no doubt, the
onrs who nse most clntnoFous, aud
whom It. Is most dltIlc.it TO convtnes
tha& tho business Of winding up the
ntfatrs OF the concern is being conducted "oh
the s,,narc." Naturally suspicious Of of!lctals
Into whose hante Is placed the management Of
financial matters OF this description, they grow
rcstlyc under thu unsatisfactory monthly etate-
n,cnts .nat!c, which do not l,nve tic ci!ect to
ti1cc murf1 money In their pockets Rua aid Ia
Bqsinring UP TIM balance due them which tho
bank had when It wont under. These dep,sit-
0rs wnnt something deItnttc, tangible, poattiye;
tomct'I,,g tl,nt vii. have tic tneie Of rash II
It. something TINT will show at Elanco what
fns come In md wheru T. ia4 gone.
Tlr Inst Illinois LEGISLATURE had the matter
Of bank Receivers brought tn It's attention, and
enacted a law with thrre provisions which is of
,nuc. tntcrest 10 !a1gc cfAss OF the citfzet,s OF
Chicago especially. This law. approved ltay
~, 1871 TOOK effect July l. It provides ~ that
Receivers stnIl make detailed Statements, etc.;
(2) that 1hesu statements shall be made once in
tot,r mOntha; and ~ Ior tho removal OF these
officials.
As to The t,rst proviRson This explicitly scts
forth that It shall be the d,,ty of thu Rcccsver or
Assignee Ut nny sas1tsga hank Or oIs,rr banks. or
nny private bnnkcr or firm doing banking
buslnces, Immediately upon request made
to him .hcrcof, In writing, signed by
my ten 'epsssors Of atlch bank OF which hc
shall bs the llcrcIycr nr AsslEnec, ~ mike nn1
~ unIE
n detailed PtatPmcnt show Ing all the asscts Of
such bank, OF whatcrer kind or nature. untl 1T
nll promises 70 nay, OF Whatever ktsd or nature,
ntlnwIng u whom such promises wcre uaadc ur
arose; ~ when they were Or arc due; CD tho
names oi the persons making such promises;
"a The thing to be paid, and. II nuney, the
amount thereof, the rato of interest thereof, II
my. and tho amount Of interest due and un-
sat n"a u s:h asni @ "sS' sssa e.ense ss ssS
nlM. II 80, IRON wllcn, and how
many times; % -, ;tft pas;tsniar :. description ss
thereof such balk may lave. md, II it be tilat of
II ncrson, Tho name ii such person. Which de-
tailed statement shall bo open 10 inspection by
nil parties in INTEREST, and also statement
taken from the books OF such bank, Of the
1tal stock of such bank, Tho nanfes md nd
dresses, II knowI., Of MI tic stockholders, tho
number Of sllarcs held by each, when acquired,
md from whom.
tal II shall bc thu duty of any Court that has
appointed any such Receiver To Immediately
rrt,,uyc such Receiver upon his fa,lure 10 con
ply with thu act; asd any Assignee falling to
COMPLY with TIC net shall be removed uuon thu
order Of ans court of competent Jurisdiction.
The intervals nt which tsltse rrports or state
mcuts arc to hc ma41e by Reccfecra af.u AS
Rfgnecs slHl not hf oitcncr than unco In four
months.
It would socm that MI duplication Of thts law
to the Affairs of tho into Fidelity Bunk ,so0fd
enforce statement thnt would be Ratifactory
to the lcposttors; tint ID, 1t would shnw tAcr1,
the actual condition Of the business. TherG Is
no reaeon wy Receiver Turntn should object
to making the schedule, and no ground for him
wlio arc said to l!ayH presented n written dc
1llnua for au accounting psess tile matter to tho
end.
As tue law stands, 1t Is, make the report or
efcr nut Of office.
Receiver Turpln filed l,ls rcgulnr monthly re.
port Yesterday, which is us sollows: