The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-16
GERMANIA'S AFFAIRS.
Peter M. Kerst Informs the Court
What's Been Done.


What's Been Done.
The hearing Of the application Of
Gustav Willius for the reorganiza-
ton of the Germania bank was on the
special term calendar of the district
court yesterday, but as the attorneys
were not ready and no serious objec-
tions to deferring the matter were
offered, Judge Kelly continued the
hearing until next Saturday. In the
meantime all DIRECTORS are required to
file their formal appearances on or
before Thursday next.
Accompanying the petition for reor-
ganization of the bank, Peter M. Kerst.
the assignee, has filed an answer, in
forming the court what has been ac-
complished. The answer sets forth the
following facts:
That at the date Of the assignment the in
solvent was indebted to the Hanover National
bank, of the city of New York, in the sum
of $50 900, upon a promissory note made by
the said insolvent and secured by bills re-
ceivabe payable to the order OF the 1nsov oao
that at the date of the said assignment the
said insolvent was also Indebted to the Union
National bank. of Chicago, in the sum OF
S24 500 upon promissory note made by the
.insolvent. and secured by bills receivable of
the insolvent amounting to the sum Of about
$50, 900; that the assignee has settled and
paid off In full each of these promissory
notes, and that neither the assigned estate
nor the said bank now indebted to any
Individual, partnership or corporation upon
any rediscounted paper. and that all the re-
discounts of the said bank have been paid
and satisfied in full.
That under the order Of the said court this
respondent has paid the full amount due to
the state of Minnesota for all moneys de-
posted by the state treasurer of the said
state with the insolvent.
This respondent pursuant to the orders Of
the district court, has refunded deposits made
dav 0f January Amounting t0 the
sum of SIS 603.90, and that, so far as this re-
spondent is advised, there are no other claims
for the refunding Of deposits made on the
said I'd day of January, 1897, or for deposits
made with the said bank at any other time
That this respondent, as such assignee, now
has on hand and on deposit with three solvent
banks of the city of st. Paul, in said county,
SOL 700.68 in cash.
That the time for presenting proofs Of
claims in the matter of the said assignment
expired on the 18th day Of April, 1897, and
that this respondent has allowed claims duly
presented by the creditors Of the said bank
amounting to the sum of $761. 60S34; that the
claims disallowed amount to the sum of $15,-
509.S9, and that an application is now pending
in the said court for the extension Of the
time OF presenting and filing proofs Of claims
in the matter of the assignment.
That the respondent makes no objections to
the approval of the plan Of reorganization Of
the bank.
Receipts
From Germania bank -. .......... $50. 907 "a
interests on notes ................ 1893 Al
banks 49,. ..................... 1904 10
On account Of overdrafts paid 900: 62s Sc
On deposit with Hanover National
r rae unit" -. .......:.....: 1884 50
Balance on deposit with Union Ma
on a9n red seoa so ale apDss 1887 so
in in maintaining bank building...... 1,1s4 81
Rents from other property .......... 1853 90
LSNnyr MIR moi hvysn ffC0 n dol
and drafts ps " ............ s7o45 II
Notes paid to and held as collateral
by Hanover National bank and ap-
piled on rediscount and on drafts. ~. 500 -