The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-13

Nnarles ~. Baker, recefxer Of the Me--
snsnss National bank, has posted a no
Tee mat hs Is res prepared % pay div
i1@na Of - per cent 20 creditors Of the
hank whase egz1ass we're proved prior 20
ta~ order OF the Comptroller Of The car
sr1ey dated June a. declaring the dsvt-
osaa TIE ccnptro1erts checks. sggre-
saans F&xS.9S. 30 N Eamse-. drawn On
TIE assistant United States treasurer. have
11st ceen received fran Washington City.
snd WIZ 5e Distributed 10 depositors upon
presentation - their receivers certificate.
re derensnts Nsssnral bank suspend
60 pear ago and Charles II. Baker was
apposnssd receiver hy CompfroIier Eckiss.
ias liabilities we're about seo. so. and the
sssets sere nouins.sy more. bat upon care
fai examination ard apprasseuzent By tne
rsc~tver deficiency Of assets os $50. 30
vas declared 20 exist and an assessment
'or that sm0ant vas levied upon the
shareholders OF the hank. the collection
q which IL now being enforced through
TIE coarss here and IN New York and
Providence
Thirty per cent Is the largest single
dividend ever paid b. bark In fquids-
uon Ia the Northwest and in fact very
few have paid that much altogether. The
distribution of this amount OF money To-
Cay az this tine VIII tend 10 relieve the
financial situation very materially. The
dividend as FIRST declared ard as reported
through the Associated Press was Is per
cent. bat when Mr. Baker went 70 WASH
mgfon City recently he urged the comp
troiier 70 declare - per cent. which was
done rpon his ASSURANCE that that amount
Eon'd De collected.
The receiver was asked yesterday IL the
bank would eventually ray out IN full
He repsisc: II can tel you better after
the financial question is ssIiled. IL have
to pay In . deprecated currency II VIII
take twice as long as otherwise. for there
VIII be no corresponding law 10 compel
the shriHkage OF Liabilities in correspond
ing ratio. and the oepas.tors being erei-
iior class Will naturally insist upon having
par value money. II the proposed silver
coinage law were already enacted II might
De my privilege as receiver 10 take the
ss.1o In gold. which - 20 my credit as
receiver In the United States treasury. and
exchange " for silver metal. which could
get coined into sseoa silver dollars. II
could work OF this money or the depos-
itors the bank could pay 60 per cent in
stead OF % per cent. bur TINS scheme
would have q screw loose in II apparent
to anyone and would be Ike the perpef-
uai motion machine. which men have gone
crazy over trying 20 Invent. As receiver.
i very much regret that Il Is not also con-
tempsated 10 remoneiize real estate and
shingie mills. which would thus snsbls me
to pay depes.sors IN fuli at once and go
per cent To the stockholders In fact
have understood that a very strong effort
had been made 10 include q horse plank
with silver. but failed on the ground that
horses had been demonssixed by Bicycles
and not BY gold. As receiver I am In
ciined 10 espouse the silver cause, because
the hank IL interested in a Colorado sill
YER mine listed as valueless. but as a cit
teen oppose unsound dollars, even though
a..
weight is made good BY the assuring stamp
they bear In God we trust A return ~
prosperity viii enable this bank TO pay
out In fasi. and that means solid gold"