The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-06-23
HE DEFIEs NEW BANKRUPTCY LAW
| Kansas Man Who is Liable to Lose His job


Soon.
Topeka, Kan, June N.-Receiver A.
G.. Reaman, of the defunct Citizens
bank, of Mount City, is the first receiver
to defy the new banking law of Kan
sas, and he will likely lose his job as a
result of il. The new law compels re-
ceivers of defunct state banks 10 file re-
ports with the banking department,
showing the condition of the institutions,
the same as active banks do. After the
passage of the law, Breidenthal, the
bank commissioner, issued a call for
statements OF the defunct Citizens
bank of Mount City, but, instead, sent
the commissioner a letter, saying the
law was invalid and refusing to comply.
This aroused the suspicion of Breiden-
thai and he Immediately sent Examiner
Waterman to Mound City TO examine
the receivers books. Mr.. Waterman
completed the examination and return
ed today. According 10 his report made
to the court and also to the bank COM
missioner, the receiver has made a most
bungling official. The examiner recon-
mends that Reaman be discharged as
receiver and that a large amount of al
legged expense created by him Zoe diSal-
lowed. The bank failed three years ago.
II had capital of $50, 900. So far. only
10 per cent in dividends has been de-
clared. The management OF affairs by
the receiver, Waterman, in his report,
no ~; Iannci.nrc "a
asylum and 70 the grave. He adds that
the bank depositors have been robbed.
He charges the receiver with gross in
competency. declares that he has re-
peateily violated the orders Of the
court and has been absolutely Indifferent
TO TIE welfare Of the depos.tors
1t is asserted that he permitted over
fifty notes 10 become outlawed and that
his expenses in collecting the money for
the last per cent dividend and distrib-
uting the $3.50 10 the depositors. aggre-
gated sS.SSS. He refused 10 pay the ex-
aminer's fee. claiming that the law pro
vidIng for state inspection ct insolvent
banks was invalid.
While making the Investigation Wat
ernan had a set-to with James Snoddy,
OF Pleasanton. attorney for the receiver
Sncdiy ridiculed the idea OF a bank
commissioner having the power 10 in
spect the condition % an institution IN
the hands OF court and asked Water
mSn what such a proceeding meant
The examiner replied that the provision
was inserted in the law 70 prevent re-
ceivers and their attorneys from steal
ing money which should go 20 the IN
fortunate iePositors. One word brouyh:
on another, when Snoidy called Water
man about nine different kinds OF a liar.
Waterman leaped forward and gra bbed
Snoiiy by his whiskers. told Inn - eth
eT swallow The statement OF his front
tsenJh. Snod5y concluded that ;he state
nent would be the more easily diges;ed
thc not being human os;rich) 80 he
withdrew his remarks
Judge Simons. of tia: district. was
very much dissatisfied over the method
in which the receiver has been conduct
ing affairs. as reported by the examiner.
ana II upon examination he finds TIA;
he rspo-; is corrsc; he has given II on,
tia, he viii remove Reanon a. receiver.
The matter VIII come up early this
week.
Recently a woman in New York City.
vao wen; Into store % BUY a we'll
known medicine. WAS persuaded - AXE
something Just as good" She took 4;
ana 3ie5 from the effects OF Z. \ suit
1o- Cain2ges Is pending.
S,2.so . California. June -. 80, JAY /,
- , rta S.n-a Re rclta