Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-03
A RECEIVER GRANTED,
Senator Upperman's Mission
Was Quite Successful.
AFTER LEGAL ADVICE.
Auditor General McCamant Signed
the Petition to Courts.
ASSIGNEE M'KELvEY is SATISFIED.

Senator Upperman was seen late last night
after his return from Harrisburg. He was
jubilant over the success of his mission,
which was the dispossession Of Assignee
McKelvey and the choice Of receiver, as
means of satisfying the united demands OF
the depositors of the bank, whom himself
and Attorney George c. Wilson represented
In their mission to Harrisburg.
He stated that they consulted with Audi
tor General McCamant and Deputy Attor-
nev General Sanderson as to the necessity Of
the appointment Of receiver yesterday
morning, and strongly argued in favor Of
dispensing with the usual formality of au-
fhorizing an investigation by an examiner
because of the delay such procedure
would involve, and because there was no
doubt of the insolvency Of the Lawrence
Bank. Thev also presented a petition
signed by about 800 depositors Of the instl-
tuition asking for receiver.
A LEGAL OPINION IN FAVOR
Auditor General McCamant indicated his
willingness to indOrse the petition to the
court for q receiver, but was required to be
governed in his action by the decision OF the
Law Department of the State. The Deputy
Attorney General gave the matter presented
to him further consideration during the day,
and at a consultation in the afternoon, at
which the Pittsburg representatives OF the
suffering depositors were present, decided
that the circumstances justified the appoint
ment of a receiver at once. The Auditor
General thereupon acquiesced in the request
of the depositors by signing the petition
asking the Allegheny county courts to ap-
point receiver to take charge Of the col
lapsed bank. Senator Upperman says that
he stated to McCamant while there, that he
did not believe the institution would pay 30
cents on the dollar of the amounts it owes to
depositors.
LAwRENCEvILLE DELIGHTED.
The knowledge that many of the deposi-
tors of the Lawrence Bank heard yesterday
afternoon that Auditor General McCamant
had acted favorably upon the petition for
the appointment of a receiver to straighten
out the affairs of the bank caused great sat-
isfaction. There was an air of quiet greater
than usual in Lawrenceville, and rumors
were fewer and less startling than hereto
fore One of these rumors was to the effect
that the people now engaged on the banks
books had discovered assets which had not
before been known to exist. This was
source of consolation to some OF the deposl-
tors, and hope was revived In many
bressts.
No statement has been given out by
Assignee McKelvey, and he makes no pre-
diction as to when he can or will give the
depositors any information. He declined
to answer any questions put by DISPATCH
reporter Yesterday, saying that he was too
busy to talk. James Upperman told the
reporter that he had received q dispatch
from his brother, Senator Upperman, stating
that the Auditor General had granted the
depositors' request for a receiver. Who
would be appointed to the Office he did not
know. When Mr.. McKelvey was told of
this, he said that he was very glad of the
prospect of being speedily relieved Of his
duties as assignee.