The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-04-05
ASSIGNEE MOTIFS FEES
They Were Pared Down More Than
-Four Hundred Dollars by Judge Il.
". Archibald.

Once again, as has been it's custom
periodically for the past eighteen
years, the old Hyde Park bank assign
ment came up in court yesterday.
Last April the assignee, Smith b.
Mott, reported that there was $S,27S.S9
ready for distribution and court APP
pointed Attorney John M Harris as
auditor to make the distribution.
Among the items allowed by the aud
itor was one of S13S7,5O for compensa-
tion of the assignee The creditors of
the bank, through Attorney Charles r.
Pitcher took exception to this allow
ance and the matter went before Judge
Archibald for adjudication.
Yesterday the judge handed down
lengthy opinion dealing with the con-
troversy. Five per cent, he says, is
the usual allowance for assignees two
and one-half per cent. for collections
and a like amount for distributions
This rule applied to the present case
would give the assignee S552.5O, which
is $685. less than the compensation
claimed.
When asked to account for the addi-
tiOnal claim, the assignee made the
statement that he had charged regu-
lar fee Of 800 a year for services as
accountant during the nine years that
the present partial accounting had
been under way, and credited himself
with the $4S750 additional for extra
services, entailed in conducting liti-
cation that was encountered from time
to time and which compelled him to
foregO other employment
Judge Archibald declines to adopt the
time basis" as suggested by the as
signee. This is palpaby inappropriate,
he claims, because it would mean that
the longer the assignee could keep the
creditors out of their money the bigger
would be his fees. which is the exact
contrary of what ought to be. The
correct solution, the judge held, would
be to allow the usual percentage and
il anything calls for extra compenSa-
tion allow it providing il is meritorious.
Proceeding on this basis he allows
the regular percentage, which amounts
to S552. 80 1t might be contended, he
goes on to say, that the collections that
| are made without any more eXertion
| than receiving and receipting for them
would offset such as required lawsuits
for their collection, but brushing this
aside the judge doubles the amount
allowed for counsel fees to Mr.. Merri-
field, attorney for the assignee, whose
| services unquestionably were as Valu-
| able in the litigation as was those of
| the assignee, and then, for good meas
! ure throws in an extra 800, and put
! ting it all together, s552.5O for regular
| services, $500 for work as a litigant
! and 800 for instance, the judge says
| take all that and be satisfied.
| This gives the assignee $952.5O and
! places Sf35 more to the amount to be
| distributed. 1t is deemed better, how
| ever, to hold this S435 until the next
! distribution, so as not to make neces-
! sary another auditors distribution OF
/ the fund at present ready.
The claims of the creditors altogether
amount to 100000. Forty-six per cent.
has been paid and twenty-six per cent.
more is embraced in the present dis
tribution. The judge says he intends
to have the bOthersome assignment
settled up as soon as possible and got
| ten out Of the courts.