The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-10-29
ASSETS VERY SMALL.
German American Bank Re-
ceiyership Not Desirable.
BANK WINS IN SUPREME COURT.
n. Louis Man TO BE Receiver OF CO.
lumbia acknowledgements Bank
Stock Hypothocatcd.

Olympia, Oct. 1.-speciaL-The supreme
court today fled an opinion IN the case
OF the state, ex rel. German American
Safe Deposit aid Savings bank, Va Tie
superior court Of Pierce county, directing
that an order be Issued prohibiting he So
perfor court from further proceedings 10
execution Of It's order for the appoint
Y,,ent Of a receiver until the Determination
Of the appeal sh@refrom. or until fErtner
order OF this cour., and requiring II 10
issue the Necessary orders 70 place the AZ
psilant In the possession OF the properly
wrongfully takea from IL BY the receiver
The city OF Tacoma had commenced an
action IN the superior court asa-nst tns
relafor asking 70 nave a receiver appoint
ed for It's assets and 10 wind up Us ousl-
ness. The order was granted. and GefehQ-
ant gave notice OF appeal and nled bona
for costs. Thereslpon exceptions were
filed as 20 the safficiency OF saca saret-es,
and notice given 70 defendant to produce
them fn court. Defendant objected TO the
hearing Of the exceptions, on the ground
that sufficient notice had not been given
10 them. The objections were diarsgaTaed,
and. the defendant taking no turner &C
tlon, the court certified noD-appearsnce
and declared the bond void. Defendant
then profYerea new bond. bu; the re-
eeivcr, acting under an order OF court,
took possession OF the property over the
protest OF defendant. This proceeding was
TO obtain an order from the supreme court
prohibiting the lower court from further
proceedings. and 70 set aside all that has
been done sine. the fling OF the superss-
IDEAS bond. The supreme court holds that
sn fling the new bond the appellant was
exercising q statutory right. The superior
court assumed TO attack the bond on It's
own motion, without notice 10 appellant
10 produce the sureties or without exam
sn!ng their qualifications. IN doing 50 II
nf tylfffafat aHshnrff~ a md dPpFfEaI fhn
appellant OF the fruits OF its appeal. IL
~as not the intention OF the legislature
that an appellant should presume new
bond was TO be attacked. When s1cn OK
ceptions were taken notice should be given
20 produce the sgret1es m the same man
rsr and for the same time as IN the case
OF the first one.
Tacoma. Oct. @.-Speclal.--As soon as II
was known how the supreme court had
decided. Attorney A. r. Heilig. represent
eng I. NJ. Howell. depositor OF the bank
20 the extent OF 177D filed an dpplica-
fion for the appointment OF receiver in
Judge Pritchard's court The complaint
STATED that the bank owed Mr.. Howell
SGT 10, and had refused 20 pay the amount:
that It's liabilities were $4,000 and its assets
not more than $4,000. The city attorney
was prepared for this move, and before
Judge Pr1tchard had acted on the appi.ca-
tion filed motion 10 transfer the case 10
Judge Parkers court. In support OF his
motion Judge wickersham filed an sffida-
Wit signed by Mayor Orr. stating that
Judge Pritchard. being a stockholder In
she Columbia National bank. was not
qualified 10 sit on the case. Judge Pritch-
ard was not disposed at FIRST 10 grant
shs motion. but finally ala so. BY mutual
consent no further action was taken In
abe matter. and Judge Parker viii prob
ably enter an order tomorrow directing
the receiver TO give up the bank to its
officers.
Whatever becomes OF the case from this
time on there will BE- few applicants for
she receivership. II any. Enough has been
learned of the banks affairs 20 snow that
there are barely 5000 worth OF assets
left. and these. IL cashed. would hardly
pay the receivers attorneys fees and
expenses.