Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1892-09-13
me- Meredith and Altman EstaIe.

NNt ~NAtAtuitNi HuN ht"
The report Of r. p Barnes special
master, who was appointed by Judge
McFie on the 30th OF last July 70 mar
shal the estate OF Meredith and Altman,
bankers who failed here December 9Th,
1877, is completed and ready for the ap-
proval Of the court.
At tho time Of the failure the hrmt
made an assignment 10 George ID. Gold
man who bad benin the employ Of the
firm and was thoroughly %convetsapt with
the business. Aftor q numher Of
months during which time very little
was done toward winding up The affairs
OF the firm the assignee was removed by
the court and William A. Leonard, Of
this place, was ACKNOWLEDGEMENTS
A large number Of suits wero com
menced by creditors OF the bank aud
after trying TO collect notes and accounts
due the bank the receiver was obliged 10
commence suits in a number Of cases in
order TO protect the creditors. In many
instances the hearing Of cases was post
ponod from time to time, thus delaying
the final settlement. The litigation was
very expensive and has added thousands
Of dollars 20 tho cost Of winding up the
affairs Of the firm.
Those creditors or the bank who did
not commence suits will receive nothing
as their claims have long since been
barred by the statute OF limitation.
Most Of these claims were for small
amounts but the total Is about $4,000
The attaching creditors have received
or will receive the full amount Of their
claims, with interest, less about piper
cent, which was the cost OF settling the
estate. The amount OF these claims is
about $4,000. More than halt this
amount was held by John Brockman
aud ID. @. Hobart who purchased the
claims Of quite a number OF depositors
About SIT, 600 are due TO attaching cred
itors who did not dispose Of their
claims. t5fq
Judgment creditors have about $4,000
in judgments against the estate and il
is believed that they will receive about
30 cents on the dollar. The report Of
the special master shows that there is in
the general fund 10 the receivers hands
the sum Of ell, 76S. 10 and IL Isl thought
that about $4,000 m ore cam be collected
which will be placed in this fund,
The master reports that the receipti
of the receiver have bsena SBSO87I
and the disbursements haEslI- beer
S29,94267, leaving cash in the hands o.
the receiver on the first Of this month
sl5,S66.O5. Besides the amount Of cash
on band there is due from John Brock
man on the compromise made last Feb
ruRry S9,297 and Brookman and Hobar'
have been overpaid on real estate thu
sum of $T,2405O. There are a few
other small items which will swell th,
total assets to the sum Of s33,677oe
Out Of this amount is to be paid tn
s17, 1851 which the master finds du,
to attaching creditors and BrockmaI
and Hobart have claims which make tn,
total liabilities s2l,9O9.U' leaving a
balance OF s11,76s.19 TO the genera
fund. ap
1t will be seen that the receiver ha
not enough cash on hand to pay tn,
amounts due to attaching creditors an,
that the Judgment creditors willhaye Z
depend on collections for their share o
/, the estate. This state Of affairs is du
TO the action Of the court who allower
overpayments.
The delay of the court has caused Tn
/, loss OF thousands OF dollars TO the estat
which might otherwise have been collect
ed and paid over to the creditors.
Besides the amounts shown above tn
receiver has settled more than hundre
thousand dollars in claims against th
estate The bondsmen of Hartford N
Meredith, who was treasurer Of thi
county at tho time OF the failure, hay
been paid in full and the claims Of job,
; Brockman have been satisfied. 20
I The receiver has paid off much moi
OF the indebtedness OF the estate tha
was believed could be paid at the tin
o OF the failure but the income of III
estate for the time since the failure ha
amounted to a very considerable SUI
and has enabled the receiver to- make
b much better showing than he otherwii
could have done. Had IL not been 4
the delay caused by legal proceedings
" is more han probable that all tho i
debtedness Of the bank would have boz
paid in full.
% 1t viii require some time yet to wiz
n up the affairs of the bank aud more this
It five years viii have elapsed from d
time Of the failure until the final settl
u ment can be made. The receiver b
,r given the estate his closest q~Rttsnti'
Is and is to be congratulated on the exc'
x lent showing which he has made.
Candidate Halps Views.