The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-09-29
IRON HALLS REPORT
Mr.. Failey Tells What the Re-
ceivership Has Accomplished.
Another Order Brought to Light-Ex-
penditures for Attorneys Fees
Factions May Compromise.

The Iron Hall case has been set down for
final hearing on Nov. 6. Yesterday morning
Receiver Failey, in compliance with the
order of the court made on last Monday,
filed his report showing the condition Of
the order at the present time.
AS was expected, there were some develop
ments yesterday morning when the case was
again called up and another Of Judge Tay-
lor's secret orders saw the light of day for
the first time. The first step in the pro-
ceedings yesterday morning was taken by
ex-Judge Howe. He announced that he APP
peared for the Order of the Iron Hall, and
he desired to nave the attorneys opposing
him state for whom they appeared. He
wanted the attorneys to announce whether
they still appeared for the plaintiffs or for
the receiver. There was considerable argu-
ment on this line, and finally Jude Winters
announced that the attorney had a right to
know who his adversary was. The argu-
ment continued and the attorneys for the
order said that it was necessary that they
be permitted to examine the records in the
hands of the receiver.
Judge Winters said: 1.-THE receiver might
be embarrassed by conflicting orders, as he
is now proceeding under an order of Judge
Taylor not to exhibit them"
"I have never heard of that order" re-
piled ex-Judge Howe.
AN ORDER AGAINST PUBLICITY.
The order was in existence. however.
and was produced by Mr.. Smith, From
the order it appeared that on Sept. 30,
1892, William Fletcher. who had been elect
ed supreme accountant of the new order,
had petitioned Judge Taylor for permits
sion to examine the books and records in
the hands of the receiver. Fletcher was
not granted the permission asked for; in
stead, the court made the following order.
which was made public for the first time
yesterday:
'"That he shall keep and maintain all
the records and papers of the orGer in his
possession and under his control, and nei-
Their suffer said Fletcher, nor any other
person, except an employee of him, the said
receiver, to have access to the papers and
records In his possession OF the order, so
that the same shall be preserved in the
condition in which they came to him, and
afford no opportunity for any person to
abstract or otherwise withdraw, alter or
change the said books and papers and rec
ords from the condition in which they were
at the time the receiver was appointed
therein. The court makes this order gen.
orally for the reason that Ii is deemed for
the best interests of the member and
creditors of the defendant that the records
and papers shall be preserved wholly in
the possession and under the control of
the receiver, unless some special reason is
shown for exhibiting some particular rec
ord NJ nan0F RI Clrnh nnrGnn and yuh0n
such reason is shown the court will
make proper order in that behalf"
Following the reading of the secret order
there was a handy of words between the
various attorneys as to whether opportuni-
ty had been given M. G.. Davis to examine
the records. 1t was stated that he had, and
when this was denied IL was said he had
been given ample opportunity to withdraw
his private papers. During the course of
this talk Mr.. Finch called to mind that the
attorneys had not yet shown whom they
represented, and it was suggested that, If
records, they ought to show in whose in
tereSts hey appeared.
The discussion was ended by Judge Win
ters making the following entry.
Now the petition filed by the plaintiffs
on Monday, Sept. %, 1893, comes up for con-
sideration. And the court being advised,
does sustain the motion, and orders the
several attorneys appearing in this case
for or in the interest of the defendants
shall file herein a statement showing by
whom they are employed, what interest they
now represent, and If any claim that Mr..
Mcintosh is now the supreme justice of the
order. then to state for the Information of
the plaintiff when and where he was elect
ed and who were the electors. And If
any claim that Mr.. Libby is such supreme
justice, then to state for the same purpose
when and where he was elected and who
were the llQCfOrCs also COUNSEL nav cto&a
any other facts essential to be known in
the premises; and the defendant, by Daniel
Waite Howe, excerpts to such ruling, and
asks twenty days in which to file a bill of
exceptions, which is allowed and ordered.
THE RECEIVERS REPORT.
When an opportunity presented itself
Mr.. Taylor arose and handed up the report
of Receiver Failey. 1t was a voluminous
document, containing seventy-two type
written pages. The report shows the to-
tai receipts from the date of his appoint
ment. Aug. %, 1892, to Sept. &c. 1898, to be
$762. 168. "a. He claims credit, during the
same period, amounting to $47. 003. 10, leav-
ing a net cash balance in his hands of
Sis, 1854.
Tine assets not covered into cash are as
follows: Notes, bonds and securities TO
the amount. from NJ. c. Davis, appraised
value, So. 702. 80; from branches, face value,
$2e,321.1S, a total of $S4.02S.6S.
There Is still remaining due and unpaid
OF the reserve fund held by the various
branches an amount OF 81. 23S,G 43.1S.
Claims against the receiver of the Mutual
Banking, Surety, Trust and Safe Deposit
Company OF Philadelphia, Sis, 1870
Claims against the New Jersey Trust and
Safe Deposit Company of Camden, n. j.,
for money deposited with said bank, ST.
237.7 "a.
The receiver reports that the notes, bonds
and other securities in his possession are of
uncertain valLe, for the reason that they
are unsecured, and some are now past due
and payment has been refused.
On the question OF the reserve funds in
the hands of the various branches the re-
eeiver reports that he has demanded an &C
counting from each branch. In most cases
the branches have been prevented from ac-
counting by litigation in the courts where
they are situated. In other cases the re-
serve funds have been misappropriate ted by
officers of the branches; and IN other cases
the members have divided the reserve funds