Kansas City daily journal., 1897-01-26
IS NOT LIKELY TO REOPEN.
BANK EXAMINER LYNCH TALKS OF
MISSOURI NATIONALS AFFAIRS.
Only One Proposition Submitted Has
Been Reduced to WritinG-De-
positOrs' Committee VIII
Have More Time.

Special Bank Examiner A. D. Lynch,
who has been in control of the affairs of
the suspended Missouri National bank,
will leave this morning for Washington,
where he will make his report to the comp
tICller of the currency. Mr.. Lynch will
carry with him no proposition from the
stockholders or from the committee repre-
senting the stockholders and depositors,
looking toward reorganization of the
bank. A number of different plans TO this
end have been submitted to the special
examiner, but none of them mas been sat
isfactory to him. The committee will be
granted further time in which to make ad-
ditional propositions, but Mr.. Lynch is
aware of nothing which lends a hope that
the institution may reopen. He declined
yesterday to speak of the probabilities in
regard TO reorganization of the bank.
further than to say that it could not occur
on any plan which has yet been proposed
to him. Only one of the propositions sub
mtted to Mr.. Lynch by the committee rep
resenting the stockholders and depositors
has been made in writing. All others have
been verbally made and were not believed
by the special examiner to be entitled 20
sufficient consideration to have them re-
duced to writing.
Unless a plan of reorganization for the
bank has been agreed upon in the mean
time, Mr.. Lynch says, dividend will like
ly be declared within the next sixty days.
The special examiner would say nothing
regarding the condition of the bank, the
value of the assets or the likelihood of the
depositors being paid in full. He made the
following statement, which he would sup
plement only as above:
1.-The committee for the depositors and
stockholders has presented a number of
cepted for several reasons. There were
questions of Importance in the PROPOSE
tions, involving legal points and prece-
dents. l have thought it better to extend
the time for consideration of the matter.
but shall at an early date make my re-
port to the comptroller. l do not feel at
liberty to outline the different propositions.
Most of them have been verbally made; in
conference with the members of the COM
mittee various ways have been talked of
contemplating the opening and continuance
tinue in the hands of the receiver unless
some proposition is made that can be ap-
proved. When reach Washington L shall
report to the comptroller what the wishes
of the committee are.
''1he prospects are fair for a reasonable
dividend to be declared within the next
sixty. days. l cannot figure the amount it
viii have to be figured at Washington by
the comptroller. So far the depositors have
bee, been very slow, slow in filing proof Of their
dividend If a sufficient number of depositors
would prove their claims. II is necessary
that the depositors make out their proofs
of deposit. and receive in return for their
bank books certificates of deposit or other
form of Indebtedness, the receivers certili-
Gates for same, before the dividend can be
paid. Until considerable number of de-
pcsitors have made such proof of deposit 1t
is hardly worth while declaring a divi-
dCnd.'
Whatever further propositions the COM
mittee may make will be forwarded direct
to Washington. The committee in a COM
municatIon to the comptroller. has ac-
knowledged the courtesies extended by
him. as we'll as the consideration and at
tention given 1t by Mr.. Lynch. No re-
port has yet been made by this committee
to the creditors of the bank. The report of
value of the assets of the institution will
likely be made public by the comptroller
within the next week. Mr. Lynch declined
to intimate the character of the showing
this report will make. He does not think
1t will be necessary for him to return to
Kansas City in connection with the affairs
of the Missouri National.