The Saint Paul globe., 1897-08-13
GERMANIA BANK COMPLIES WITH
ALL THE CONDITIONS OF
REORGANIZATION.
COURTS FINAL ORDER MADE
CLEAR AND WELL DE-
FINED.
CITY DEPOSIT is TO BE PAID.
Fees of the Assignee and Receiver
Are AIIowed-Has 100000 I'm
impaired Capital.

The final order authorizing the re-
| opening of the Germania bank next
| Monday morning was signed and filed
! by Judge Otis yesterday. The plan ol
| reorganization, which has frequently
been set forth by the G o b e, was ap-
proved by the court, and all the re-
| quired conditions as to capital stock
cash on hand, etc, have been complied
with. The title of all the banks prop
erty in the hands of Assignee P. M
| Kerst, will be transferred at once back
| to the bank. Upon the assignee max
! ing a proper showing that he has sc
turned over the property to the bank
the court will formally discharge him
from his trust
| By agreement, the board of directors
have decided to allow Assignee Kerst
| 81, SEQ and his attorney, o. E. Holman
| $4,000 for their services since the sus-
pension of the bank last January.
| Upon the reopening of the bank next
Monday, the city of st. Paul will re-
ceive it's deposit in full, amounting tc
| $51 ,S7450, with interest, from Jan. /
at per cent per annum.
The final order, after declaring the
terms on which a number of unsecured
creditors shall be paid, according tC
| the agreement made with them, pro-
| ceeds:
| Each and all of the unsecured creditors OF
| said Germania bank be and each of them is
hereby enjoined and restrained from in any
! manner inforcing, or attempting to enforce
payment collection Of any of their respec-
tive claims Or demands against said bank, ex-
cept as default shall be made in the payment
thereof, under and in accord with said
plans, terms and conditions of reorganization
and adjustment
| That the Germania bank has placed in the
hands Of it's present assignee, Peter NJ. Kerst,
for the parties respectively entitled thereto
the certificates covering all OF its unsecured
indebtedness, except that to be paid in cash
| on the reopening of said bank, and made and
executed in the form and manner. and in ac-
cordance with the requirements of the order
of July 1st, to be held by said assignee for
and delivered to said parties respectively on
demand, and upon the surrender by them to
said assignee, for said bank, of such evidences
of Indebtedness as they now respectively
| hold.
That said Germania bank now has an unim-
paired capital stock of 100000, paid up in
cash. and approved evidence of indebtedness;
and that this fact has been certified, and said
evidence of indebtedness approved by the
superintendent of banks of the state of Min
| nesota, by certificate now file with the
clerk Of this court in this proceeding.
That said German!a bank has on hand
for the transaction Of business, cash to the
amount of at least 5000 600, and that this fact
has been certified by the said superintendent
of banks by certificate now on file with the
clerk of this court in this proceeding.
| That the Germania bank is pleged to a
careful, conservative and economical admin
istration of its affairs, and that until said GER
tifcates Of Indebtedness are paid in full, the
president and cashier of the bank viii devote
their whole time and attention to such ad-
ministration at salaries not to exceed in the
| aggregate $1,000 per annum; and that other
officers of the bank; not occupying clerical
positions and devoting their entire time there
to, will not receive any compensation for
their services; and that this policy and pledge
is evidenced by resolution of the board of
directors of said Germania bank and the
acceptance thereof by its officers, a certified
copy of which resolution, with such accept
ance, has been filed in this proceeding with
the clerk of this court.
That the Germanfa bank through it's board
of directors, has agreed with Peter NJ. Kerst,
the assignee, and with his attorney on the
| amount to be paid said assignee and his at
| torney by the bank for their fees and ex-
penses in said assignment matter that the
amount has been paid by the bank; and that
the assignee is prepared and willing to forth
with account for and turn over to the Ger
| mania bank all Of the estate property and
effects of the bank in his possession or under
his control, when so ordered by this court