The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-08-22
STILL ANOTHER RECEIVER.
Levi Ritter Appointed in the Place of will
lam Wallace, Who Could Not Accept

Inere was an unexpected turn in the matter of
the reeelvership of the Indiana Banking Com
pany yesterday. When was announced tn at
William Wallace was appointed to that position
IL was generally and satisfactorily understood
that this would settle the matter. AT that time
IL was not suspected that there was any reason
why Mr.. Wallace could not take the place. as
tnat gentleman was away from the city. He re-
turned yesterday morning, and at O'Clock in
the afternoon tie and the other gentlemen inter
ested in the case appeared before Judge Walker
Mr.. Wallace asked that the following be spread
upon the record of the court:
ITO the Honorable judge of the Superior Court of
Marion County:
grinding myself involved in a matter connect
ed with the Indiana Banking Company which
may be the subject of controversy do not think
IL VIII be proper for ME accept the office of re-
celver or the bank, and therefore respectfully
decline the appointment
=, Il cannot do this without expressing my
thanks to the court and the many friends for the
ofer of the place, which, but for the difficulty
fully, WILLIAM WALLACE
Mr. Wallace addressed the court briefly re-
garding the matter. He explained that his
name, with those of others, was on note due
the bank, and although his part of the indebted
ness had been settled, and really had no con-
nection with the institution, yet he recognized
tne TACT that the objection to his appointment,
although technical one, was binding, and he,
therefore, declined the position.
Judge Walker said that the attorneys on each
size mad had their choice Of receiver, and he
thought the court would take the matter in his
own hands He was willing, however to listen
TO any suggestions that the counsel might have
To make. W. II. H. Miller, one of the banks at
torneys, submitted number of names of gentle
men VINO would be satisfactory to them, among
%nom were Hervey Bates, George Yam
sesnn NJ n, vinton and John s.
depositors made no suggestion Judge Walker
SAID: Il shall appoint Levi Ritter of IrvingUon,
receiver; provided, of course, that he has no
connection with the bank. He is an excellent
man for the place, in every respect and think
he will settle up the affairs of the bank in the
most satisfactory manner possible"
Mr. Ritter was notified by telephone, and
came into court in few minutes. He was
questioned closely by Judge Walker, and SAID
ever. Mr.. Miller offered a quasi objection oy
saying that Mr.. Ritter was involved in a suit
against the First National, in which the late
banking company was heavy stockholder.
IL was explained that his only connection
with this suit was as an attorney and the court
held that this was an immaferIal objection. He
liked Mr.. Ritter's bond at $500, 900, and gave
him until to-day to procure bondsmen. The de-
positOrs express themselves as well satisfied
with the appointment while the bank officials
evidently would have preferred somebody else
It's, however, the general opinion that Mr.. Rit-
ter VIII make an excellent receiver,
One of the current stories about the Banking
company, when 10 apparently well authenticat-
CATION of $4,000 on the part of a South Me-
rdan-street house has been Cancelled in some
way, and the depostors are expressing a natil-
raj desire to know what the consideration was.