Kansas City daily journal., 1896-12-03
HAVE PLANS OF THEIR own.
MISSOURI NATIONAL BANK DEPOSIT
ORS OBJECT TO \ RECEIVER.
Claim n Settlement of the Banks At
fairs Through n Receivership
Would BE Too COstIy--Ap-
pointment VIII Likely
Be Made To-day.

The deposftors of the Missouri National
bank object to the appointment of re-
ceiver TO close up its affairs, and viii do
their utmost TO induce the treasury depart
mert TO allow the bank to liquidate
through some other bank or have its af-
fairs run to a speedy conclusion by a COM
mettee of the depositors. This was decided
on yesterday afternoon at the meeting OF
about fry of the heaviest depositors, and
for the purpose of having that matter
handled properly and their desires in the
matter laid before the proper officers. a
committee composed of c. \. Brockett, E.
F. Hargis. George c. Hale. J. y. Mcdonald
and Charles r. Hicks was chosen to take
temporary management of the Interests of
depositors and call for an early date a
general meeting of the depositors so that
a permanent organization may be effected.
The tone of the meeting showed that the
depositors are not afraid of losing their
deposits, or of being kept out OF the use of
the money any sreat length of time. Near
ly all the speakers were emphatic in their
belief that the banks assets were ample
to pay all bills. At the same time there
was strong opposition 10 a receiver.
They wish TO have an early settlement and
Go not lGel tn3t receiver Would De aDie
TO secure that. They want to avoid the
great expense and red tape OF receiver
ship and the injection of partisan politics
that would count for much in the selection
of q receiver. They claim that a committee
Of citizens would be able TO secure closer
and quicker collections, operate with less
expense and accomplish more in every i'm
portant particular than could possibly be
done by any man who might be chosen as
a receiver, and for these good reasons
they are anxious to settle their own affairs.
1t is said, but from unaUthoritatives sources.
that the bank directors and stockholders
are quite in sympathy with the desire Of
the depositors, and Will lend them what aid
they may be able.
The depositors figure that it would cost
from $500 to S15.ODO per annum to run a
receivership, and they believe they can
secure better results for a much smaller
sum- They point to other receiverships
that have been drearily prolonged with lit
tie results and big expense, and ask that
they be spared a similar infliction. The
bank is comparatively a new one. has none
OF the Old boom paper, and can turn its as
sets readily if proper efforts are made by
citizens who are neiShbOrS and friends of
those who own the bank. There are a
number of active applicants for appoint
ment as receiver. and in almost every one
the chief claim lies in a political pull rath-
er than in fitness for the work of straight
ening out the affairs of the bank. The en-
phatic action of the depOsitors caused sur
prise to the aspiran;s and may deter some
from any further efforts. They do not care
to force themselves into a position where
every interest of the depositors and stock
hOlCers is opposed to them.
The feeling that the bank will be able 10
speedily settle large percentage of the
claims against it was strengthened yester-
day by the free payment of paper held by
the bank large sum was voluntarily
paid in yesterday to Examiner FOrman.
Some of the notes paid were far from due.
having three and four months to run The
people had been accommodated by the
bank and We're anxious to do what they
could to help the settlement of claims
against it by paying off their notes.
The meeting of the depOsitors was pre-
sided over by C. a. Brockett, and John r.
Mulvane, of Topeka, a banker and presi-
dent OF the Missouri and Kansas Telephone
Company. made the first talk. The tele-
phone company has heavy deposits in the
defunct bank and is deeply interested in
the speedy settlement of the affairs The
speakers professed abundant confidence in
the banks assets and ccunseled depositors
not to sell their claims at a discount, as
some had talked of doing.