The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-07
AND REMOVE PETER KERST.
PLAINTIFFS ARE WILLIAM p. JEW
EFT AND ALEXANDER nj.
DRAKE, TRUSTEES.
THERE ARE 300 DEFENDANTS.
Petitioners Ask That q Rec eiver BE
Appointed by the Court to Sue
coed the Assignee.


Bank of st. Paul and all CT it's stock
holders to enforce the double liability
rule, and for the removal Of Peter M.
Kerst as assignee and appointment Of
a receiver or receivers of the bank.
The plaintiffs are William P. Jewett
and Alexander M. Drake, as trustees
for land grant bonds of Sioux City &
St. Paul Railroad company.
The stockholders are about 300 in
number. A full list Of them, together
with the number Of shares held by
each, is appended:
The complaint says that on July Is
the plaintiffs deposited in the bank
$4,000 taking a certificate of deposit
| at per cent, at six months, August
Is another certificate of deposit was
purchased for the same amount On
sundry occasions since February, 1887,
the plaintiffs say they have demand
ed their money on the certificates and
have been refused payment
The capital stock is $780, 900, divided
into 1000 shares Of 500 each. The in
debtedness of the bank Is now about
81 ,044 1891.
Judgment is prayed against each one
of the stockholders to the extent Of
| a sum double the par value of the
stock
money was deposited in the bank. the
| plaintiffs made diligent inquiry of
Peter M. Kerst, the cashier of the bank
at that time, regarding the solvency
| of the bank. and that Kerst gave them
| specific assurances Of the solvency Of
the bank, Of its solid character, and
| the like That Notwithstanding these
assurances SO given, Mr.. Kerst knew
at the time that the bank was in an
| insolvent condition, and satisfied the
minds Of the plaintiffs in order to Sc
cure the deposit in the bank Of the
| $4,000 as aforesaid.
That Kerst knowing the bank to be
II! an insolvent condition, and that the
suspension was imminent resigned his
| position as cashier before the suspen-
sion in order that he might be ap-
| pointed assignee, since he was pre-
Guided by his office of cashier from be-
ing appointed such assignee.
Mr.. Kerst, In his official capacity,
| has appointed as his attorney and
counselor, E. o. Holman, who was a
| director of the bank, and that the liqui-
dation of the banks affairs is in the
| hands of two directors and officers who
are responsible with the other direc-
tors and officers for the failure.
| Proceeding to arraign Mr.. Kerst, the
| assignee, the complaint continues:
1.-The said defendant, Peter M. Kerst.
is not a fit party to be in charge of
| the assets of the institution for any
| longer time, and that for the proper
| administration Of the assets he should
| be removed from his position as such
| assignee and another party who COM
mands. the confidence of the commu-
nifty and who is not in any way re-
sponsible for the existing condition of
affairs and who will be free from aSso-
Citations and obligations to the debtors
of said bank Gas the said Kerst and
Holman are not by the order of the
court should be appointed"
In conclusion the plaintiff prays for
judgment, and asks that Peter NJ.
Kerst be removed as assignee, and that
| the court appoint one or more parties
| as receiver, or receivers of said bank.
| The prayer further asks that those
wishing to join in the action be permit
| ted to do so within six months from
! date
Following is the list of stockholders,
their places of residence and the num-
Der of shares held by each:
w. s. Alexander, St Paul, 10; ]. S. Arnold,
| Chicago, 6; Ernest Albrecht, st. Paul so;
st. Paul, %; George Benz St. Paul, /; Abbey
Bartlett, Minneapolis, 5; Peter Bott St. Paul,
s; Peter v. Brown, St. Paul; 3; Adam Boyer,
Joseph Bobleter, Minneapolis, s.; Anna Bene-
dict, Sank Rapids, 10; E. F. Benson, Lake
City, 10; W. Behnke, st. Paul, IA; E. c..
| BuSSe, SnakOpo6, 4, VI. r. benson, Lake City,
8; ]. E. Benedict, Kasson, TO- K. N. Berris-
ford, st. Paul, 10; Marguerite NJ. Birch, St.
Paul, 10; Mary E. Brown, St. Paul. 10; j..
P. Christophel' st. Paul, s; F. G. Carel; St
| Congdon, Duluth, 10; E. F. Berrisford, St.
Paul, 2S; ]. Dudley Condet, St. Paul, 10;
Henry Christophel, St Paul, 1S; Edward
Candy, Dayton, O., "a; Frank Crawshaw, St.
Paul, "A; John Conway, st. Paul, 81; L. 1.
Casserly, st. Paul, 5; Frank E. Chichester, ST.
Paul, 10; ]. A. Chamberlain, Owatonna, "a;
=.
st. Paul, 5; Hartwig Deppe, st. Paul, g.;
George Decker, St. Paul. 6; John Douglas,
St. Paul, 5; Mrs. E. L. Douglas, Wabasha,
49, G. A. Du Toit Chaska 15 NJ. L. Du Toit,
Chaska, Is; Leonard Erger, St. Paul, 8; John
Ellis, St. Paul, 3; William Esch, St. Paul,
st. st. n PAUL o. ritz G Ernst St st Paul Paul
Michael Funk, St. Paul So; Mrs. NJ. R. Fur
ness. st. Paul. rs; F. J. Funk, st. Paul, IA;
H. Il. Fuller, St. Paul 10; Mrs. N. Funk,
Charles Funk St. Paul, 80; W. H. CRUDE St.
Paul 5; William Guhler, st. Paul, 10; c. B.
Gilbert Newark \. j. 10; Clara Gruhs,
1; NJ. Gantzler. st. Paul, 6; A. ]. Greer, St
Paul. 8; German-American Bank of Hastings
50; Mrs; R; F.. Goodrich, St; Paul. 6S; G. L.
5; L. H. Hemingway, st. Paul, s; Joseph c..
Haag, st. Paul, 10; E. Hammer St. Paul,
8; Theodore Hamm, St. Paul, IL; W. NJ. How
ard st; Paul, IS; J.; B. Herman, St. Paul,
| 20; G. w. Hardacre, St. Paul, L. George Her
bert, St. Paul, s; Ella Hayden, Saltwater, 10;
Mrs l. III, E: Hicks Eva Evanston; Wye, 81;
St. Paul, rs; John Hook, Red Wing, Al;
William Hamm, st. Paul q; Mrs. j. H.
Hare, Chicago, 5; B. Hurlbert, New Center
vile. Wis, /; Mrs. Lilah NJ. Hirst, St. Paul,
II; John Hoffman, st. Paul, 80; ]. w. Hack,
ST. Paul. 8; A. F. Heisong, Menomonie,
Wis, 8; w. H. Harries, st. Paul, %; Theo-
ecutor Michael Item, st. Paul. 5; c. H. Iltner
St Paul, y; John Iffert, st. Paul, 80; P. o.
Justus, St Paul, 10; S. P. Jennieson, Red
Wing, 10; Henry Jensen. st; Paul, 10; j.
St Paul. 20; Daniel Kelly. St. Paul, 10;
Charles Kitelson, Minneapolis, l. Peter NJ
kerst, St. Paul. 10; Matthias Kock, St. Paul,
8: Joseph * Kraen, Melrose. 10; John Klein
Ferdinand Knauft. st. Paul. IL; K Kuime,
mund, St. Paul, :; John Kelly, Owatonna
Is; ". D. Kelly. st. Paul, 5; H. Klosterman
St Paul. 8; Thomas A. Kemp, St. Paul, TO-
| F. J. Kock, St Paul, 20; G. P. Lewis Wath-
| ertoen, 80; Andrew Lauer, ST. Paul. 2: l.. Lu-
ths G.. St; Paul, q Nathan Lyons, Los An
Lair, St. Paul. 10; M. H. Lair, St Paul, 10;
E. W. Leighton, Boston, 40; J. H. Moritz St
Paul, Z; c. F. Menk, st. Paul, Is; Henry
Meyerding, st. Paul, i; Theodore H. Menk
Edward Mcfarland. St. Paul, S; Michaud
Bros, St; Paul, 2; ". A. MeManagal, St
PAUL Il, Z; Mrs A. H. Moss, St. Paul. 20: Mrs
a4ecnier cs Not St Paul G. Mitsch
s.. Paul. s; Robert Mannhe ai Aes S.
st: Paul, 1; Emil J: Muller, st. Paul, s.;
lock, Jordan, 10: L. E. Menk, st. Paul, q;
| c. E. Mcfarland. Minneapolis, 8; Minnesota
Savings bank, St. Paul, q E. A. Miller,
10 c angeles .i 10; a A. D. ,Metzger ST. Paul
gheim, St Paul, 2; S. H. Nichol, Everett
| Wash, 8; H. Orleman, St. Paul. II: Peter
Otto; St. Paul. 15; A. J.. Oertel, St Paul,