The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1898-08-05

ground as ODJeCGlOn was maui w ulu
they would object to the appointment
of any one who was friendly to the
other creditors and especially to the
bank. He suggested that the court
appoint an outsider.
Mr.. Cannon said that if any credi-
tor objected, he did not desire to be
appointed assignee. He would pre-
fer that neither side have a favorite
as assignee, and suggested that the
court appoint someone whom he knew
to be absolutely independent and
honest.
Mr.. Hughes said that it would be
desirable to probe into the affairs of
the present assignee, and that some
one should be appointed who would
do it.
The court said that he proposed to
appoint somebody who stood perfectly
Indifferent to the whole matter and
who could give the necessary bonds.
He asked how large a bond would be
necessary.
Mr.. Cannon said that Mr.. Schwartz
has collected $3,111, and has secured
an order for judgment for $4,000 and
interest against the National Citizens
bank, which is now pending in the
supreme court.
The court suggested a $40, 900 bond.
Mr.. Cannon replied that in the
opinion of two. thirds Of the creditors,
bond for SIS, 900 would be enough.
The court said that it was charged
that money had been paid out where
there was no order of the court.
Mr.. Metcalf said that the security
company is liable and could pay any
sum that was improperly diverted.
Mr.. Cannon said that Mr.. Schwartz
had told him that he would at once
send a report, showing what money
had been received, what was done
with it, and what the undistributed
balance was. 1t would probably be
on file here within three days. Mr..
Schwartz had stated that he would
turn over to his successor whatever
he had.
Judge Severance said that he was
disposed to appoint Geo. Fl. Clark as
assignee.
Mr.. Metcalf assented to this.
Mr.. Plymat said that the court
might as we'll appoint the National
Citizens bank as Mr.. Clark. He had
been cashier of the First National
bank and had since been assignee of
its president and was closely associat-
ed with it's interests. If those favor
able to the National Citizens bank
taking $4,000 from the estate were
appointed assignee, the suit might as
we'll be dismissed.
The court asked what the state
ment in regard to Mr.. Clark's connec-
tion with the First National bank
had to do with the National Citizens
bank.
Mr.. Plymat said that he believed
that there was tacit understanding
between the First National bank and
the National Citizens bank, and that
the other creditors could 20 lowell,
somewhere. He believed that Mr..
Clark was in affiliation with persons
who would favor the banks.
MIR. Plymat was asked to state
some reason for thinking so, and he
replied that there were many reasons,
one being that the banks had joined
to- have the assignee removed. All
this talk about money being collected
and unaccounted for was said for
effect. Mr.. Schwartz's bond is good
and no money will be lost. He was
not satisfied to have the First
National bank as assignee or anyone
who was nominated by it.
1t was said that the security COM
pany would not put up unless it was
sued, but Mr.. Plymat said that the
money could be recovered on a
suit.
Mr.. Cray arose to his feet, but the
court did not desire to hear any fur
ther argument, saying that he would
not consider what had been said, un.
supported as it was by evidence.
Mr.. Cray insisted on his right to
an swer Mr.. Plymat. He said that he
was utterly astonished that man
would stand there and make such un-
blushing statements as had been
made. A large number of the credi-
tors had resisted the appointment OF
Mr.. Schwartz as assignee, when he
was appointed. The men who want
him removed now are the ones who
ia vored him then. He had not in
tended to say anything but for the
falsehoods that had been flung in their
faces. The National Citizens bank
was the largest creditor of Mr..
Cassidy, having over s1O,OOO,and it had
not asked for the appointment of any
one as assignee. Any man of integ-
rity would be satisfactory. These
men have never asked Mr.. Schwartz