Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-05-21
WILL PAY IN FULL
The Spokane National win Pay 100
Cents on the Dollar

SbHLb On inc OOlAhr
SPOKANE, May 2O-In a Seaetle paper
Of recent date Mr.. James Wardner is
quoted as saying that he had purchased
the Morning mine, near Mullan, paying
therefor 81 100000, the purchase being
made for party Of English capitalists.
A reporter OF the Review yesterday
directed the attention Of Receiver Chase,
Of the Spokane National bank, to this in
formation. Has the same been cOnsum-
mated, as thus repOrted?' was asked OF
Mr.. Chase.
"In everything except the payment OF
cash. Mr.. Wardner accepted the terms
of sale agreed upon between the court,
the receiver Of the mine and the receiver
Of the bank, and assured me that he would
be prepared to close the deal and to make
the first payment, involving a large sum
Of money. as soon as a legal transfer OF
the property could be effected and the
title to the mine examined by the attOr-
ney selected by his syndicate. under
stand that Mr.. Wardner and his attorney
will be here the latter part Of this week,
and think that the sale will be fully con
Summatpd within a reasonable time after
Mr. Wardner's arrival
HAS Mr. Wardner deposited any money
as an earnest Of his intentions to buy the
minep'
have done so with the court. / know Mr..
Wardner and all the members of the
! syndicate whom he represents, and have
| no doubt whatever OF their good faith and
| ability to cOnSummate the trade which
Mr.. Wardner has entered into on behalf
Of himself and friends
| III this trade should be COnsummated
would the Spokane National bank resume
| business?'
ut is not improbable, and it is quite
possible that such a course would be pur-
sued, though this course woulc be de-
| termined by the comptroller OF the cur
rency."
Would the sale Of the Morning mine,
as now contemplated, insure the full pay
ment OF all Of the banks depositors?"
"MOst assuredly."
I'm the event OF hitch 10 these nego-
tiations would it be possible TO pay divi-
dend upon the deposits out OF the other
assets OF the bank?''
"Why, certainly. There seems to be a
most erroneous impression in the minds OF
a few people that the only asset OF the
Spokane National bank consisted OF the
Morning mine, whereas, as a matter oil
fact, the bank has much good paper, bills
receivable, which Is being collected as
rapidly as possible; and were IL possible
Immediately TO convert the bills receivable
held by this bank into cash the bank
would discharge all its liabilities In ful
without reference to this mine
"When will a dividend be declared?'
"That IS a matter that Is determined
upon i'm Washington. All moneys as fas
as collected are Immediately RENTED tC
the treasurer Of the United States, anC
the comptroller Of the currency il as anx
iOus as anyone that the assets be collected
and all liabilities discharged at the earl
lest possible moment. ! think the cOndl
tions are favorable and the prospects
good Of dividend being Declared on o
before July L.
"How much do you think the edepositor
in this bank will be able TO receive OF
their claims?'
Every dollar
at is rumOred that Mr.. Hussey ha
, blocked the Wardner sale, and does no
want TO sell this mine"
THAT is false and malicious. Let an,
one who believes such rumOrs bring Mr.
Wardner here, or anybody else who ha
contemplated or who cOntemplates tn
purchase OF this property. and | will mos
, effectually refute such allegations. Mr.
Hussey has done and is doing all in hi
power TO effect an absolute sale OF tn
. mime