The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-25
FUNDS AND ASSESSMENTS.


Orders by the Court Giving Further Direc-
tions tai the Receiver.
The first thing Judge Taylor did when be
opened court yesterday morning was to
have Mr.. Failey's bondsmen, who were
standing In readiness for that duty, &C
knowledge their signatures to the bond
that held them individually and severally
in the sum of Sl,0O0.0O0. Following this
was the presentation of the question OF as
easements by Mr.. Hawkins. which asked
whether the court should base it's distrIbu-
ton on the amount of funds and the num-
Der of members after the last two assess
ments were paid in, or whether it should
be based on the amounts and membership
on hand when the suit was filed.
Judge Taylor held that the members who
had dropped out since the institution of
the suit should share in the assets. and de-
cided that all members in good standing
when the complaint wa5 filed would re-
ceive their legal dividend.
The next question concerned the con troll
ana disposition of the reserve fund In
charge of the local branches. Mr.. Harris
was of the opinion that. the branches in
the different States could be considered as
quasi corporations, and lsuggesied to the
court that Supreme Cashier Davis be di-
rected to make an assignment. as cashier,
of all the funds in the custody of the
branches to the receiver. oil those respond
ing to participate in The distribution. The
idea was favored by the court. Balllff
Bruce referred the c0urt to the fact that
there were a number of express packages
containing money now held at the express
office.
Mr.. Hawkins said there was great deal
of mail being held at the postoffice by
Superintendent Craft to await the order OF
the court. Judge Taylor stated that the
keys TO the Iron Hall property had not been
Somerby had no keys, the court said, but
clerk Pillsbury had keys, and also the COM
bination Of the vault. and that an order
would be issued instructing the express
receiver, and another would be issued re-
quiring the mai \ at the postoffice. either
personal or Iron Hall mail of the supreme
officers. to be turned over to the receiver.
If the personal mail did not relate to the
order 1t was to be given to the person TO
whom it was addressed. Mr.. Bruce was
then instructed to turn over the keys to
!. the receiver, who. in turn, was instructed
to take Immediate possession.
The defense willexcept to all orders made
by the court yesterday.
At noon Judge Taylor made three orders.
They are as follows:
The receiver Is authorized and directed to re-
ceive all mail and telegraph matter now or here
alter 10 De received OlrecteQ 10 the Qe1enQant or
any officer, or any agent or empl0ye OF the de-
fcndant, whether addressed officially or other
wise. And all personal mail not proper to he
retained by the receiver shall be by him dellv-
cred TO the proper person.
2. He shall likewise receive all express mat
ter similarly addressed, aud his receipt shall be
taken as sufficient by the several express COM
8. He shall pay the clerks and janitors their
salaries up to and including Aug. %, 1892. Pro-
one clerk or empoye And Mr.. E. j. Walker
shall assist the receiver in making mp these &C.
counts and see that each 10 charged with all
sums heretofore advanced to them on account.
4. George w. Bruce, CUSTODIAN shall at once
surrender said Iron Hall premises and all keys in
and employee of the defendant shall at once de-
liver to the receiver any keys he may have TO
the doors. desks, safes. drawers. or otherwise of
or In said Iron Hall Building, and also the COM
binations to the vaults and safes.
- The second order:
On motion II is further ordered by the court
that the defendant do now assign and tran sfer
TO the receiver all moneys due and owing the
defendant from or held by the branches
PENDANT belonging to the reserve fund.
Also, that the defendant In like manner assign
PENDANT by the Mutual Banking. Safety, Trust
and Safe Deposit Company. OF Philadelphia, or
by A. E. stockwell. assignee thereof, or any
other person or corporation. And also all mon
eys in like manner owing the defendant by the
New Jersey Trust Company, Of Camden, said
The third order:
It is hereby ordered that all and singular the
active branches, and the members thereof, at
the date OF the filing of the hill Of complaint
herein. to-wit. on July %, 1892. who have
! the Supreme Sitting up to and including
assessment No. $50. or who shall pay said
sessnents or other liabilities. If any, to their
several branches on or before Oct /. 1892, and
which branches. through their proper officers,
shall fully account for and pay over the came to
said receiver all reserve finds and accumula-
tons thereto; or. In said reserve funds have
heretofore been invested, then assign the securi-
ties to such receiver or before the 10th day of
October 1892, shall be entitled IN share in funds
now or hereafter coming into the hands of said
, receiver for distribution. And the receiver is
hereby directed to forward copy of this order
by mail to each branch