The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-09-29

funds were deposited with the Mutual Bank,
OF Philadelphia, at the time of the assign
ment.
The receiver reports that Immediately
after his appointment and qualification he
employed as attorneys the firm of Taylor
& Keith. Upon informing the court of this
action, the judge, Hon. n. B. Taylor, d.
rected the receiver to employ as additional
counsel the attorneys who had originally
appeared for the plaintiffs.
Among the many important matters re-
curing attention was the money depos-
tied in the Mutul Bank, amounting to s13,-
600, which bank had made an assignment
during the triaD to one Stockwell, attor-
ney for the bank, and, IL was claimed, a
party to the fraudulent transactions be-
tween the officers of the defendant and the
bank. The money constituted almost the
entire deposit. The court ordered the de-
PENDANT to execute such an assignment to
the receiver, which was then and there
done in the presence Of the judge By the
defendant.
The report gave the status of the liti-
cation in the various States where suits
had been instituted. Receivers have been
appointed in the following States:
New York, Massachusetts,, Connecticut,
Rhode Island, New Hampshire, Maine,
Vermont, Missouri, Illinois, Pennsylvania,
New Jersey, Maryland, District of Column
bia, Virginia, Ohio, Tennessee and Michi-
gan. Maryland receivers have in their
hands about $50, 1000. which the courts there
will direct to be paid to the receiver here
IL a proper order for general distribution Of
assets is made. The report continues:
In Pennsylvania the S713, 600 had been re-
mitted from the banks in Indianapolis in
order to induce the court TO release the
Mutual Bank from judicial proceedings. 1t
was discovered that this money was claimed
by the officers of the bank who were officers
of the Iron Hall, and that $500. 900 had been
donated TO the bank by the defendant. Mr..
Hawkins went to Philadelphia and found
that Assignee Stockwell had been con-
nected with questionable transactions with
the bank. Stockwell was removed and
George Graham, of Philadelphia, was ap-
pointed receiver. He is collecting the as
sets of the bank and reducing the same to
money. Your receiver is advised that upon
final distribution Of the assets of the bank
the same will probably pay about % per
cent. on the claim of $713, 600. In some other
States funds are arrested by attachment
proceedings.
Your receiver makes known to the court
that owing to the fact that this cause has
been delayed to appeal and otherwise, and
no final decree having as yet been entered,
he and his counsel have been embarrassed
and delayed in carrying out the order of
the court concerning the gathering together
the funds of the order in the different
States. He has avoided, under the direction
of Judge Taylor, active litigation as far as
possible, so as to incur no more expense
than seemed absolutely necessary, until the
question involved in this case should be
finally determined
1T is proper to state that the correspond
ence and business at the office was very
large; that Mr.. Taylor practically gave his
whole time to the business, remaining for
the greater part in the office with the re-
ceiver; that often, when matters of moment
arose, he consulted with Mr.. Harris and
Mr.. Hawkins, and frequently it was found
necessary that the counsel meet together
n consult and determine as to the ad-
justment, and procedure, and action to be
had In matters almost continuously arising
from day to day"