Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-18
CHOSE THE FIDELITY.
The Well-KnOwn Trust Company
Replaces Assignee McKelvy.
NEWMOVE IN NTRELAWRENCEB BANK
The DepOsitOrs Very Much Pleased With the
Substitution.
An ACTIVE WINDING UP OF AFFAIRS

The resignation of William NJ. McKelvey
as assignee of the Lawrence Bank was ac-
cepted Yesterday afternoon, and the Fidelity
Title and Trust Company of Pittsburg ap-
pointed in his stead by Judge Stowe. AT 3
o'clock yesterday afternoon Attorney McCook,
for the bank, and Attorney Wilson, for the
depositors, were present IN court Judge stowe
said he supposed there were no reasons why
Nj Mchelvey's resignation should not be ac-
cepted, and asked if counsel had any sugges-
tions to make
Mr. McCook said he had been requested to
suggest two names as the successor 10 Mr; NC
Kelvey. That of Henry II. King. reliable
man who had practically retired from business
and would be able to give his entire time 70 tne
matter, was offered by portion OF the directors
Of the bank. The creditors, or oeposltors,
offered the Fidelity Title ana Trust Company
for assignee Mr.. McCook said that the only
objection to the latter is that it is impersonal,
and that means that the work would be done
by some employe.
FINALLY AGREED UPON.
A short consultation between Messrs. Nc
Cook Wilson and F. NJ. Magee, also for the de-
positors, was held, however, and in few min
utes they returned and said they had agreed to
the appointment of the Fidelity Company as
assignee.
Upon this Judge Stowe made an order &C
directing him to file an account and to sur
render the estate and effects in his hands 70 ms
successor in the trust, except so much OF the
money as may be necessary TO pay All c9sts anu
expenses in any way incurred by him. In con-
clusion the Fidelity Title and Trust company
was appointed assignee.
CONFIDENCE EXPRESSED.
Mr.. Wilson reported in behalf of the Fidelity
Company that Mr. John B. Jackson, the man-
ager, would give his own attention to the mat
ter.
Judge Stowe said that he had great faith in
the ability of Mr. Jackson, and if he had &C
counts of his own to settle would ask for no
one better. II Mr.. Jackson would give the al
fair his undivided attention he would ieel ols-
posed TO appoint the Fidelity Company One
reason for this he said. would be to quiet the
restlessness Of the people In the nelghOorhood
of the bank. As Mr.. jackson was not present
to signify what he would do, Judge stowe sug-
gested that the matter be deferred for day
and q conference of counsel held. This was
agreed to. Judge Stowe in the meantime
accepting Mr.. McKelvy's resignation.
The agreement upon the Fidelity Company
was made it was stated, in consideration OF the
fact that there is to be no further agitation OF
the question of appointing receiver.
MR.. M'KELvEY's SENTIMENT.
The reasons given by Mr.. McKelyey for re-
igning were that there was a dissatisfaction
on a part of certain of the creditors. and this
agitation and contention were harrassing and
annoying to him. Further, that the work would
require more time and attention than he would
be able to give.
Assignee McKelvey spent the greater part Of
yesterday at the Lawrence Bank, arranging
matters so that he could withdraw. When
seen in the afternoon he simply said: Il am
through now, and have nothing to say for pub
lcation."
Mr.. McKeIvey did not know when the Fidelity
Title and Trust Company would take charge.