Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1889-11-07


day interviewed Mr.. Mead, the assignee
of Lebold Fisher and Company, and
the substance of the interview is given
below:
Mr.. Mead was first asked if he
had any objections to making state
ment of the condition Of affairs OF the
firm for publication, and in response
said that he did not know that it would
do any harm and it might correct some
of the erroneous impressions that are
now abroad, impressions that might
naturally arise from the statement OF
liabilities filed with the district clerk.
That statement, Mr.. Mead said, was
required to be filed under the law on
the day of the execution of the as
signee's deed, and was prepared hur-
riedly and doubtless contains many
inaccuracies which would be corrected
as soon as new lists could be prepared.
TIE TOTAL LIABILITIES.
Upon being asked what the total
amount OF Liabilities would finally prove
to be, and also for description Ot
their nature aud character, he stated
that the liabilities listed under the
head of guaranteed real estate mort
cages would doubtless prove to be no
liability at all, as they were simply the
guarantees made by Lebold, Fisher
& Company upon first mortgage loans
negotiated by them in the east, and
that in all cases it would probably be
found that the real estate security
taken was from two to two and one
nalf times the value of the amount OF
the loans. The next largest amount
that appears upon the statement filed
in the court is for the re-diScountS Of
the firm in the east; these re-discOunts
arose in the ordinary course of their
Banking BUSINESS and consist entirely
IF tile notes taken by them for money
loaned by tie bank, and III so far as
The makers of those notes are good, the
obligations VIII be paid by them and
will be Cancelled so far as Lebold, Fish
er & Company are concerned. These
re-discuumts amount to about 1853 900
and very large per cent. of them are
good. $780, of them are secured by
irst mortgage Oh real estate. The
only other item III the lists is that of
depOsiturS, and these i'll the opinion Of
Mr.. Mead, after deducting the deposits
in the Individual names of the partners,
will not amount to more than $40, 900,
some of which is secured. These to-
gether with the Individual liabilities of
MesSrs. l. bold and Fisher, which
amount to about $4,000 i'll the aggre-
gate, are Tie Chief liabilities oil the
bank.
We inquired of Mr.. Mead what i'll
his judgment would be the total amount
of liabilities which would ultimately
come against the estate after securities
held by creditors had been realized
upon, and i'll reply said that probably
$l25, QUO for depOSitOIS, SO, 600 for the
private debts Of MesSrs. Lebold and
Fisher and $40, 600 for Shortage upon
the re-disconnts and outstanding obi
CAUTIOUS not before named, making d
total of $780, 900 would cover it and he
thought that i'll any event the sum of
$500, 900 would be large estimate.
THE ASSETS OF THE FIRM.
Upon being asked concerning the
assets of the firm, he replied that no
list had yet been made; that the real
estate owned by Messrs. Lebold and
Fisher was in itself more than sufficient
to pay these obligations if properly
managed, and that in addition to this,
the assets of the bank proper were very
large. Mr.. Mead stated that as soon
as possible these assets would be listed
and as there was no desire to keep any
thing from the public, the list would
be published as soon as completed.
Mr.. Mead's reference to the proper
management of the estate led the re-
porter to speak of the subject of per-
manent assignee, and Mr.. Mead was
asked if he expected to retain the posi-
ton. He replied that personally he
did not desire to do anything that was
not to the best interests of the credi.
tors, that Messrs. LebOld and Fisher
desired to cooperate with the creditors
in making the assets pay out as speedily
as possible and realize all that there
was in them, and doubtless an assignee
would finally be selected who would be
acceptable to all and retain the hearty
cooperation of the firm.
CREDITORS WARNED.
While on the subject of a permanent
assignee, Mr.. Mead said that there was
one danger that should be avoided if
possible. He had been informed that
persons were already seeking the cleo
ton, whose object might be merely
personal in their nature; and that in
case anyone without an earnest feeling
for the welfare of all concerned
should be elected, great injury |
might be done to the estate and