Kansas City daily journal., 1896-12-16
AFFAIRS OF NORTHRUP BANK SOON
TO BE WOUND UP.
COMMITTEE RECOMMENDATION
MEETING OF DEPOsITORs WILL BE
HELD JANUARY 4 NEXT.
Tables Turned Very Neatly on John
Reeves, Who Was Sent to Jail
in Default of CoSts-Fight
on the Gazette-Other
City News.

The investigation committee appointed
some time ago by Judge Alden, of the
district court, to examine the report of Re
Ceiver Hovey, of the defuuct Northrup
bank, filed its report yesterday.
The committee was composed of F. H.
Betton, c. X. Wells and V. J. Lane In
addition 10 examining the report of the
receiver. the committee was instructed to
appraise the assets of the bank suggest
some plan of settlement which would prove
satisfactory TO the depositors and debtors
and bring about speedy and final adjust
ment OF its affairs.
The committee reported unfavorably TO
q public sale. which was talked of some
time ago. and recommended plan where
by the depOsitors and debtors of the bank
viii be allowed to exchange their claims
and accounts for notes. bonds, mortgages.
judgments, certificates, real estate and all
other property belonging to the bank.
With view TO this plan of settlement
the committee. after careful inquiry. fixed
q value on all the assets ranging from a
nominal amount to premium on some of
the claims best secured. The committee
further recommended that Receiver Hovey
publish a statement outlining the plan of
settlement and calling an open meeting Of
depositors and creditors to ascertain their
views.
The following is a brief statement of the
present condition of the defunct bank:
Amount of assets on hand at the time of
Suspension
Cash on hand.....-............... 51.917 ii
Bills receivable ..................... 34l g5l 81
Other assets, real estate. bonds.
etc 1885, lS
Total amount OF assets. $is9. SS4 10
Liabilities :. ........................3 35l III 65
Surplus assets over liabilities. .S14S 172 55
Total collected from assets....... S223}S 455 Il
Less expense and taxes paid....... 2I,2l5 -
Balance left from collections. .s2l1. .239 81
An cunt of shrinkage in real estate val
Nes and in compromised settlements was
estimated at $i9.340.S6. The balance of the
assets on hand December l. with interest
was placed at S294 24S59: less shrinkage
Sl29 50; balance due depositors, Sl4351S.17:
surplus over liabilities to depositors, S21,-
O67.53.
Since the failure of the bank nearly
three and a half years ago. five dividends
have been declared. four of which have
been paid. They We're as follows:
Amount of dividend No. 1............ $40. 706 g
Amount of dividend No. 2............ 81. .7l9 20
Amount of dividend No. 3............ So. .602 80
Amount of dividend No. 4............ 1853 81
Amount of dividend declared but
- not paid ................... 2,592 sc
Amount of offsets and preferred
claims allowed ...................... a. 77G 81
Receiver Hovey states that he will pub
-lish a notice to the depositors and credit
prs to the effect that he will apply to Judge
Alden for an order permitting settlement
ton January 4. 1887. at IN a. m. when all
parties concerned will he heard from. From
present indications the affairs of the de-
funct hank viii reach a final settlement in
the near future.