St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-30
STATE BANK ASSETS.
SOME or THEM GOOD AND SOME NOR
SO GOOD.
ASSIGNEE HAHN TAKES HOLD.

Indebted to the Bank $4,000
"A Chance That the Murder
ers of Harris May Soon Be in
the Hands of Officers-General
News.
The report of George q. Fletcher,
former assignee of the State bank, and
an account of the assets in his hands
which have been turned over to As
signee Hahn, have been filed. As a
preliminary to the figures he states that
the Metropolitan Trust company, which
was GU his bond, had waived the pay
ment of several thousands of dollars
for such service which would be allowed
by law, and had charged him nothing
for the bond, thus making a great
saving.
The report shows that Mr.. Fletcher
had collected from the Columbia Ma
tional bank check of ST. 955.47, and that
the Security bank had collected the
bulk of the SOL, 436.39 of securities left
with it for collateral security. He
brought an action against the Security
bank to bring the sums collected in with
the other assets. which suit is now pend
ing. He found also that the American
Exchange bank had been given large
amount Of securities shortly before the
failure, and as many OF them had been
collected. he has brought an action
against Robert Jamison, the assignee,
to recover them for the creditors. The
amount of bills receivable involved in
| this latter action is $50. 037 90.
There is also row of tenement houses
on lots LIZ and of Eastman IL Seconds
| addition, which are mortgaged for 1885,
| 600, and which will be purchased Aug.
so. The property is worth $4,000, he
says, and should be cleared in some way
at once. He also brought suit and re-
covered large lot of collateral in the
hands of a. G. Hangar, city treasurer,
| part of which had been collected, and
| LELAND q Holt were allowed S20S.7 for
commission and 10 per cent for the bills
collected. which he asks the court to
ratify. The whole amount recovered
! from Hangar was S100,0S0.S9.
| In regard TO the S2S, 900 debt of the M.
| ID. Wilson company, he advises that the
large creditors take action to keep up
the ground rent on the building, in
order to preserve the value of the lease
note of $1,000 made by Al. Blethen
and secured by shares in the Brler Bluff
Mining and Stock company had been
charged 10 the account of the Bank of
| New England, but the New England
! fn ficfx If nd no
| assignee claimed a $1,000 greater de-
| pOsit than the schedule showed.
| Fletcher therefore secured the note and
| security from Blethen and turned them
over to the Metropolitan Trust COM
pany.
In regard to the companies indebted
| to the bank, the report states that there
is every prospect, from personal
investigation, that the American Realty
company will realize enough from its
lease to the Gun Flint Lake Iron COM
pany to pay off the entire indebtedness
of the realty company. In regard to
the Stock Investment company. debtor
for S25.0 secured by mortgages for
S24, 00O. the report says that the land is
not nearly worth the mortgage. A
security of forty shares in the Gun
Flint Lake company for the above i'll
debtedness, he says, is mistake.
The Gainesville Genre company. ow-
ing the bank SIS, 1882, is given as good
for the full amount if the claim is not
pressed. The Bankers Stock company,
debter for So, 900 has no securities of
much value deposited. The Kansas
Pine Land company owes the bank $780,
6SO.30, secured by thirty seven shares
Minneapolis Burial Casket company, OF
no value, and 800 shares American
Realty company. The Atlas Timber
and Land company owes the bank $27,
TAP. 10, the value of securities being de
pendent upon the success of the Ameri-
can Realty company. The Equitable
Land company owes the bank $4,000
and the original schedule only showed
$1,000 mortgage security, but Fletcher
has found some mortgages, worth
So, 200, and certain sherlff's certificate:
of sale of land in Gogebic county.
The report covers sixty typewriter
pages, and is full of information Whict
the successor of Mr.. Fletcher and the
auditors can use to advantage.
In conclusion. Mrs. Fletcher asks tn,
court to allow him IS, 43l.3S for expense.
during his regime, 1880 of which is TO
his services.