The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-10-18
City Asks for a Receiver for the
German-American.
RESULT OF WARRANT DISPUTE.
The Bank Claims That the City Has
0yerdrawn Its Account.
Columbia National Stockholders TO Re
Assessed Again-All the County
Money Is in the Courthouse Vaults
The First National Bank of Puy-
aliup TO Liauidate.

Tacoma, Oct. J7.-Special.-city Attorney
Wickersham ana City Treasurer MeCau-
ley today applied 10 the superior court
for the appointment of a receiver OF the
German American Safe Deposit ana Saw
ings bank. The application was made be-
fore Judge Prttchard. on the ground that
the institution is insolvent. its refusal to
honor the city treasurer's check for s5s,-
5E. the amount claimed TO be on deposit.
being cited as evidence. Immediately
after the case came up the city attorney
moved that the case be transferred 10
Judge Parker's court. 1t being shown that
Judge Pritchard Is stockhoider in the
Columbia National bank. The court said
he was not interested in the savings hank
and saw no reason why he should not try
the case. After consulting with the at
torneys and Judge Parker Judge Fritch-
ard granted the motion 10 transfer the
case without prejudice, the bank taking
an exception. When the matter came be-
fore Judge Parker. the court DostDoned
the hearing Till tomorrow, saying tnat
there was no showing of an emergency
and that fun hearing should be had
when an appointment of a receiver for
bank is asked.
This action on the city's part Is the re-
suit of a suit brought on Tuesday by the
German-American bank, whereby IL seeks
TO settle it's account with the city. The
bank alleges that ex-City Treasurer
Boggs deposited In the bank $so,56g of city
warrants between April, 1ss2. and April,
1894 the city receiving credit for so much
cash. Since taking office in April. 1894.
Treasurer McCauley has drawn out S22.-
600 in cash, leaving the balance $5s,369.
The city has found that under recent de-
cisions the warrants thus placed in the
hank are not strictly legal. being issued
in excess of the constitutional limit OF
Indebtedness, though they will be ulti-
L.. IL -.
since the city claims the warrants 10 be
Illegal IL should not ask the bank TO pay
the credit so secured in cash, and asks
the court to allow the warrants 70 he set
off against the city's credit. If this con-
tention is allowed, the city viii owe the
bank the So 600 already drawn out in cash,
and ii asks for such a judgment. These
allegations were again set mp today in
answer TO the city's request for a re-
ceiver. The bank denies the allegation Of
insolvency.
Receiver Nolan, Of the Commercial
bank today asked for an order authoriz-
ing him TO return to depositors about
81 200 which was deposited Tuesday. the
last day the bank remained open. which
deposits were kept separate from the
other assets.
The failure of the Commercial bank and
application for a receiver for the German
American hank in nowise affected the
other banks or the city ne Objects OF
the German-Ameriean bank say they feel
confident OF winning their suit and con-
tinuinG in business.
The Columbia National bank rs prepar-
ing to make IN assessment on its stock
holders who have already sent over si5.-
000 here TO meet business demands since
the council began its agitation regarding
city deposits. The assessment viii not he
completed until certain papers are signed
hv Controller James II. Eckles. now en-
route 10 Washington City from Europe.
Every dollar OF county money las been
withdrawn from the Tacoma banks, and
Is in the county treasurer's vaults.