The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-07

Bank of NinnesOtn's Schedules to
BE Openly Recorded.

An itemized schedule of the assets
and liabilities of the Bank Of Mime
SCta, showing the names of all the deb
tors and creditors of the bank, will be
filed by the receivers during the next
ten days, in the office Of the clerk of
courts. Judge Lewis filed an order to
this effect yesterday, the order to be
complied with within ten days of the
service of a copy Of it on the receivers.
The order was made upon the petition
of Charles H. Stevens and GustaNe
Peterson, which was argued before
Judge Lewis at special term last Sat
urday. Besides the receivers, William
Dawson ST., the president of the bank,
the Bank of Minnesota itself, and State
Bank Examiner Kenyon, were made
parties to the proceeding. The follow
ing memorandum accompanies Judge
Lewis order:
The Bank of Minnesota Is now In the hands
of Frank A. Seymour and William H. Light
ner, receivers, appointed by this court, pur-
Suant to chapter AS, Laws of Minnesota for
1895. This law requires the receivers so ap-
pointed to make report of their acts and
proceedings when required to the superin-
tendent Of the banks in such form and man
ner as he shall prescribe. This act does not
authorize require the receivers to report
to or file schedules in court and had the re
ceivers in this manner published or filed
schedules without direction of this court the :
had assumed to act without authority, and
upon their own responsibility, so far the
law provides, but receivers officers of the
court appointing them, and no sue
cessfully deny the authority of the court t.
require receivers appointed under this act t.
make and file from tine tC time such re
ports as will inform the court and those inter
ested upon the condition and progress of all
matters pertaining to the receivership.
In cases of insOlvent banks there may be in
stances where panics and failures among their
patrons may be averted by temporary suppress
sion of detailed statements and schedules dis
closing names Of persons caught in the fail
ure. But in the case under consideration, the
reason for secrecy, if any there was, nc longer
exists. More than ninety days have elapsed
since the failure Of this bank, and reasonable
opportunity has been given the community to
adjust the affairs depending upon the changed
conditions resulting from the insolvency o.
the bank, and the public and all persons
interested are entitled to such protection as
may be derived from a full opportunity to
examine and inquire into the affairs of the in
solvent institution, especially at a time when
publicity will not jeopardize its assets, or re-
duce its securities
1t appears that the receivers in this matter
far consistent with their duties and
responsibility, have afforded persons intereste !
reasonable opportunity to inspect and examine
the affairs and the schedules Of this bank.
and the receivers express themselves as ever
willing to comply with any order this court
may make in the premises.
For more than three months the records
books and affairs of the Bank of Minnesota
have been in the hands of it's receivers.
The order to show cause to the Bank of
Minnesota. and William Dawson, its president
is discharged because the records and data
necessary to prepare the required schedules
are all in the hands of the receivers and be-
yond the possession and control of the officers
of the bank, and any schedules which the
bank might prepare would necessarily come
through and with the consent of the receivers
and for the further reason that the cashier of
the bank the officer best qualified to furnish
information and verify schedules upon per
sOnal knowledge. is now in position under
the law which relieves him from rendering
statements which might be discriminating in
their character.
Advice to Petit Jurors.
Judge Willis gave the petit jury panel a