The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-29
AND THE WEST SIDE BANKS.
SOME OF THE DEPOSITS WHICH
THE INSTiTUINONs WANT To
HOLD ON TO.
GERMANIA CONTESTS CLAIMS
Claims, for Checks on other Banks,
Drafts and .POstoI1ce Orders
Not Contested.

! SlSnee's of the Germania and West
Side banks for directions from the
| court as to the disposition of deposits
! received by each of those institutions
during the last business day before as
! slghment. The cases were announced
! to be heard in chambers, but owing to
/ the large number of interested specta-
\ tors, Court Room No. was used. A
\ number of attorneys appeared in each
/ case, but most Of them took the posi-
/ ton. OF spectators rather than partici-
pants. In the Germania bank case the
+ assignee, Peter Kerst, was represented
by ., p. Holman, and the appearance
on the part Of the depOsitors was sus-
! tanned principally by Attorney Palmer,
/ VINO represented three of the heaviest
claimants.
Inc petition of Mr.. Kerst, assignee
OF the Germania bank, was first taken
UP, and proved to be a voluminOus
4 document, presenting several points for
individual decision Only portions of
1 TINS petition were read, and as Att0r-
neY Holman, who represented Mr..
herst, refused to allow the newspaper
representatives to see his transcript,
the other contents will not be made
PUBIC at present. Mr.. Holman SKINNED
Through the document reading such
portions, as he wished to bring forward
and now and then consulting the court
as TO the necessity of reading. other
portions
The petition, after the usual intro
ductory formula, alleges that the Ger.
mama bank was open for business I'M
( tlI~l2:45 on Saturday, Jan. 2; and that
1t was solvent ion that day, and the
| Officers had no knowledge to the con-
|, trary, although the board of directors
on the evening of that day held meet
lng~and- authorized an assignment. At
this point Mr. Holman stated orally
that 1t was not his purpose at this or
any future time to. raise any question
as to the insolvency of the bank on
that day, but he would on all other
grounds contest certain claims to be
designated further on in the petition.
For the purpose of record Mr.. Holman
admitted that the directors, knew or
should have known Of the insolvency
of the bank
The claims for checks on banks other
than the Germania, Crafts and Iostoffice
orders deposited on Jan. 2 and net sent
through the clearing house would not
he said, be contested. These or the
money. collected upon them were in the
hands Of the assignee and the total
amount was stated at $500. The claims
as follows: 4
Cash deposits, $40S9.7O; checks upon
the Germania bank, 50, AIS A; renewals
Of certificates Of deposit, 81, 807; checks
on other banks which went through
the clearing house, 81, $3.50. The Ger
mania bank, Mr.. Holman explained
was $1,000 short pm the clearances OF
Jan. ?. Among the claims to he con-
tested were 1000 Of checks on the Ger
mania bank deposited by the city. Of
St. Paul. .--,'i..
Attorney Palmer at this point stated
that he represented three claimants
one Of whom was Fred Zimmerman.
who had deposited $1,000 in cash and a
matured certificate of deposit Of $500
in return for which he received a certi-
ficate Of deposit Of 81 800 Mr. Hol-
man explained to him that the $500 was
included in the $1,S07 of renewals al
ready mentioned. Mr.. Palmer also rep
resented the st. Paul Book and Sta
tiOnery company, who deposited 1856 in
cash, and the St. Paul Rubber COM
pany, whose claim is S. 225.13. This last
mentioned claim was assigned by the
st. Paul Rubber company to a New
York firm, 30 who attached funds of the
Germania bank ins the possession OF
the, Hanover National Bank of New
York. ri
% Mr.. Wedge. paying teller. Of the
stated that he had on hand jan $52,-
,Z01. 80, and received cash deposits Of
1,490, which were9a as fellows: Fred
81 900; Gus ~SwensUn, ST5 :;
Gus Anderson $500; N. Crosse, 500;
Pauline Thon, SIS He also received the
5000 certificate of deposit from Fred
Zimmerman and issued to him the GER
tificate for $1,000. -He-paid out $42,-
269.46 that day. and continued to cash
checks until 1915. One check caShed
by him after Il O'Clock was for $3.50 and
was paid to the order Of the North
western Telephone company He
thought the amount paid out by him
after noon that day was nearly. So, 000.
When the bank closed he had on hand
$11,42206, which he turned over to Mr..
Kerst, the assignee.
Mr.. Wedge was carefully questioned
by Mr.. Palmer as to Whether he had
cCmingled the money received by him
with that which he had On hand, and
stated that he had. He paid out what
ever money was most convenient to
his hand, and usually took that which
had been paid in over the counter. as
the cash on hand was done up in pack
ages and ne thereby saved trouble in
counting and putting it up in packages
The money he received from Mr.. Zin1-
norman was in packages of $500 each,
and he paid out one package almost
The other package he broke to cash a
check of 5000 or $500.
Mr.. Funk, the receiving teller, was
also called to the stand, and testified
to some of the customs in the transac-
ton of business at the Germania bank
He stated that he had paid, as we'll as
received money on Jan. 2, -~but when
questioned as to figures, said Mr.. Wedge
had prepared the statements of both
departments, SO that gentleman was
recalled He testified that the receiv-
ing teller had on hand Jan. 2, S., $50. SO;
took in cash deposits amounting to
s4,791. Sc, and paid out $2,072.94 There
was a balance left at the close CT the
day Of $6, 599 go, which WIS turned over
to the assignee Jan. a. Mr., Wedge also
testified that the transaction between
himself and Mr.! Zimmerman took place
at 10 O'Clock or earlier
After the noon RECESS Mr. Wedge was
again placed On the stand and stated
that Of the funds on hand on the morn
ing of Jan. 2, therewa a package of
SIC, 900 which had been received by ex-
press on the previous day.
At this juncture Attorney Palmer in
troduced a bank book, on the corner of
which is a printed notice tc depositors,
in which the bank declares that in re-
ceiving checksIic Of ether banks in de-
post 1t acts merely as the agent or
the depositor and renounces all liabil-
ity for checks so received, further than
! that of such agent. Mr.. Holman ad-
mitted fer purpose of record that all
deposits on Jan. 2 had been made I'M
der these conditions.
(" Mr.. Palmer called H. B. Nordstom
boy, in. the employ of the St, Paul Book
and Stationery company, who testified
he C-it of ON NJ