The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-12-18

~..... for q town OF 20 Inhabitants.
= 80 more trouble with her banks utlan
>sfx Of 15o99. IN iss9 the Blaine
s,1....s hank was started. with capital
81 II continued doing business IN
- when # suspended. the managers
Nsrsssng what was known as the Biains
- haak. A hu5bub was kicked up
- ~ transaction. and Lester w. Das-
= as appointed receiver Of the State
- ard the National bank. after FL ".
~zs.ler and others had been deposed.
-ss-s cases were fully aired before the
,sssraI court IN this city. and created
80 4 sensation. Receiver David is about
: ~sad 10 the receiyershig afFsiry Ia the
s~sr.or court Of Whateom c2C6ty. bur
s.sars ne accomplishes, his n.pcae an
.~ssy by Judge Han4pH viii examine
Z. ne affairs Of the kstitutIoas. Ross
:. .ssoIalmsnt was mad at the request OF
ssd,s O. Bryant. OF MIae. stakeholder
{ sbs blaine Satlon No filed COM
...ir, In the Federal court yesterday. n
.s,ch she alleges fraud % the part Of
ssn.ysr David. The comp int Ia a vol
s. .,,r hank. IFS intsn<1d liquidation
"a he organization es7fhe State bank.
neoerning Receiver David. the complaint
~.
-1ftsr Davld's appointment and after
. A. transfer of tho stock held by Wnsel-
= the stockholders OF the national bank.
10 we're also Interested In the state
NIL, held an election, at which Receiver
myid assumed to and did vote the stock
IA BIZ him as receiver, and by that
n1sus was enabled, In conjunction with
5soku and others, TO elect the officers OF
- national bank for the current term,
IL IN 90 s.f tina
ssnltai stock. BY this means he elected
tsussf Miller, Green and another direct
ey and trustees OF the national bank.
Tzsy assumed 20 control all the business
I'D interests OF the national bank, WITH
g, having taken the oath OF Office or
fysn bonds. or In any manner, further
aan the casting OF the majority
q the votes at the election,
raaIlfylng as required by the laws
ssyernlng national banks At the time
q The election neither David nor Miller
frnsd any stock In the national bank
Tlnca Dayid's appointment h8 has un-
Sssfaken 10 adjust matters anectlnE the
rsge bank but has never reduced the as
ssu 10 money 50 a. 20 pay the creditors
asidend and has never reported 70 the
ssaEt as an asset OF the bank the Habit
In Of Miller as a stakeholder, and has
,xen no steps whatever looking 10 the
ss.sctfon OF the Indebtedness OF Miller;
the state bank is insolvent and owing
b Its creditors more than 5000. and the
ssss,s OF the state bank have been ex-
t2astsd and It's whole resources ana
ssoysrsy disposed of. except 1.Vo, due
I'D owing by Miller upon nine unpaid
Inscriptions.
That David. Miller and another have
ssnspired aud confederated together for
ne purpose OF defrauding the stockhold-
~ Of the national bank. and TO deprive
Gsm of the use. advantage and oenent
!, the assets of the state bank, and to
ssase them TO lose the money deposited
Win and owing by the state bank to the
sstional bank. by agreeing and intending
u cause the natiogal bank TO assume and
saks upon itself the payment OF all the
delta owing and outstanding by the state
Azak They also propose 10 release Mill
es lndebt edness. and IN that way TO en-
sh.s David, as receiver of the state bank.
% report 20 the superior court and make
Z showing that all OF tho debts and la
tfaex OF the state bank have been paid
sna to obtain hts discharge. To that end
lava has obtained an order authorizing
I'm 10 settle and adjust the claim OF the
raslanAi bank against the state bank. by
shs national bank assuming All the dent5
sad liabilities OF tn. state bank. In CEN
alteration OF the state bank turning over
a ne national bank the former stock
held By David as receiver OF the state
bank David. Miller and another consti-
iasing majority OF the aireciots ol xhs
sasas by David. as said receiver. % consent
sn an efdet OF the superior court imposing
ard fastening upon all the assets or the ma
ssanai tank the said Indebtedness, there
b. releasing Miller from his liability upon
tie unpaid subscription.
"ThAt The national bank Is without aa-
fhnYity In las 20 transact any other buet-
hess than that % reducing Its assets aud
property into money. 10 be distributed 70
TIE creditors; that all Of the creditors
have been paid save tho stockholders.
That the defendants. further intend
tng. eontriving and confederating togeth-
er for the purposes of inturinx and de-
fsaud'ng tbs CREDITORS of the national bank
and saf other reasons. are intending 70
faSsen and Impose upon the naUanal
hank and its creditors all expenses OF
tie reeelyership and OF the settlement OF
tee state hank, aggregasing large sum,
Ard 10 make the same chargeanie ard
payable cut Of she assets OF the national
fAnk as a preferred len. thereby taking
eat and Withholding and destroying the
erufiiiss properties and assets belonging
% the stockholders and creditors OF the
RATIONAL bank
Ths confirmation OF Receiver pavia's
ferert Is set for hearing before the What
en- county superior court for December
Is and sthe complainant believes that IL
fafn&f htpv IL noe s{auA ksaa Viii ba With