The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-29
Total Receipts
Have Been
$422,6A.7l.
Disbursements
Amount to
$23S,304.O4.
Cash on Hand
Amounts to
$lS3,229.96.
Liabilities Have
Been Reduced
$62S,S34.4l.
Receivers Re-
port in Full.


the insolvent Bank of Minnesota,
Messrs. Frank A. Seymour and Wlilla1n
H. Lightner, filed with the dlstrlcl
| court their first account and report on
! the condition of the institution, Whlch
| trust they are winding up for the bene-
fit of the creditors. The receivers were
appointed on Dec %, 1896, and their
showing dates from that time to, ana
| including, Sept. Is last. The contents
| of the document were subscribed ana
sworn to last Monday afternoon before
| a notary public, and they are re-
| markably interesting resume of what
progress the receivers have made thus
| far in their work Cash receipts and
| disbursements are noted. The scheo-
ules referred to in the report were also
| filed with Clerk Rogers. They I'LL
voIuminous typewriter document en-
tirely too large and detailed to war
rant the receivers to incur the expense
Of printing them.
Briefly summarized, the receivers
showing is brighter for the creditors or
the bank than they had expected 1t
would be, yet it falls far short of meet
ing the demands upon the resources.
The total receipts were $422,664.71 and
the disbursements $23S, S,304.O4, leaving
balance of cash on hand on Sept. 10,
1897, of $1S3, 3,229.96. The "cash items"
on hand were $1,130.1. The liabilities
of the bank to it's creditors on Dec Z2,
1896, amounted to $2,325, 33, and since
that date they have increased to $2,374,-
61721. These liabilities, according to
the report, have been reduced $62S,S34.-
Al, or to 81, 715, 1890. After distributing
the cash on hand among the creditors
the indebtedness will be reduced to
about 81, 500, 900, or less. The assets ap-
plicable to the payment of this indebt-
edness consist of the unpaid stock LA
bility and the remaining assets OF the
bank carried upon the books as al
ready stated at $2,376, 1882. AT the
conclusion of their report the receivers
present the following prayer to the
court:
First-That the account and report here
with submitted may be examined ana al
lowed.
Second-That the receivers be directed and
authorized to pay dividend OF III per cent
upon all claims now or hereafter alloWeo,
excepting upon those claims held or filed by
stockholders who have made no payment
upon their stock liability or held or filed by
debtors, set out in schedules 81 and 81, as
to which last mentioned claims these receiv-
ers pray that they be instructed to retain
and Apply all dividends upon said stock ha-
bility or other indebtedness to said bank
until the same is fully paid.
Third-That this court make such further
| order in the premises to the payment of
other and future dividends as may seem
Fourth-That this court fix a time and
place for the hearing Of this account and
report, and provide for notice to creditors
and all parties interested
Pursuant to this petition, Judge Kelly
issued an order in the afternoon for
hearing of the report before him on
Oct. 16, at 10 o'clock in the morning,
and he instructed that due notice OF
the session be published in two daily
newspapers of the city. The receivers
report in full is as follows:
In the Matter Of the Receivership OF the
Bank of Minnesota. To the said District
| Court: Frank A. Seymour and William II.
Lightner, receivers herein, respectfully re-
port and show:
/. That the following is a true account Of
their cash receipts and disbursements from
the time of their appointment on Dec. 2S
1896 to and including the 10Th day OF Sep
tember 1897, viz:
RECEIPTS.
From bank examiner, check on
Merchants National bank. 1900. $S1, ,292 II
| From bank examiner cash items. 5,47S 29
| FROM BANK Ol hlAu6SOld, SoSAi
Items ................ .............. z,t5l 70
cThe bank examiner had deposited
large number of checks and
gave the receivers a check for
| the amount of his deposit; subse-
ouently some of the checks thus
| deposited were returned unpaid,
| and the amount thereof appears
in the first item of disburse-
Checks and collections (Schedule y $3.50 96
RilIs receivable (Schedule 2)...... 172, 1856 73
interest ISchedule 3)........ APO 10
sundry suI bonds (scheduIe 4)....... 1928 70
| 0yerdrafts (Schedule 5)......... 12,429 %
| Ranks and bankers Schedule g.. 1885 20
Rental of bank building (Sched-
NTlLe''' ue s, " ..o ~ 4,615 90
Sundry rents Schedule 9.......... 1,499 5S
! Profit and loss (Schedule 10........ 81 09
Protest fees (Schedule ID ......... 76 O5
! SAFE of real estate Schedule 12).... lis 90
uie 19 ....................... SO, 800 90
Premium on life insurance R. W.
TsGas S0nns0ns and ssments.rebate 0f %
taxes, section IL, township 140,
| range 56 ...............:...... III 95
| Expense account, fees. ]. c.
Shea, note ...................SZ 20
| E. Bantle, note. 00 70
Total ..... ........ .s422, ,664 II
DISBURSEMENTS.
Checks and items deposited and
| returned unpaid Schedule 49,. $11,273 SO
| Identified collections belonging to
other parties, returned (Sched-
uie 15) .......................... 20,6SO 81
| Deposits refunded under orders of
court (schedule 16)................ 5o,6s7 2s
| Cash items returned under orders
of court and charged to accounts
| on banks books Schedule 3D.. 1892 SO
Preferred claims paid under orders
of court Schedule 1S). )............. LOG, ,SSS 46
Expenses of bank building (Sched-
nle l91 4,4lU ~
Expenses of Dakotah fats (sched-
u:e 2W ...................:..... 5,477 81
Premiums on life insurance held as
collateral (Schedule 2D........... 2,099 SO
Taxes and assessments Schedule
| ~ ................ ..........'...... o,Zos 90
General expenses, including premi-
| UNI on receivers bond, $500
(schedule 2sl ........,............ S,752 55
Paid receivers on account of COM
Gtschedule GSl pa ..................... $500 90
| Interest (Schedule 25). 5).............. SAB 81
| d,1Ia