The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-22
SALARIES OF RECEIVERS.
AorrespondeHt Thinks G Some of The M
Get Deal Too Mach.
m Tho

AorrespondeHt Thinks Son1e of Them
Get a Deal Too Mach.
To The st. Paul Globe:
On the 25th Of October last The Globe
published a communication of the writer on
the subject Of Salaries of Receivers" and
editorially commented on 1t as ''The Right
1dea," and one now generally accepted and
upon which the courts will act hereafter al
most universally" With fine discrimination
The G o b Q drew the distinction between
the building up and successfully carrying on
business and merely winding up the affairs
OF an inso.vent one 1t also said:
I'VE think that the courts everywhere are
now inclined to do strict Justice and be
worthy OF their name in limiting the COM
pensat1on OF receivers to fair amount
We do not believe that there exists any
cause for such apprehension for the future
as our correspondent expresses. and
we believe that the reform which he adyo-
Gates is already practically accomplished"
But later events proved that The Globe
and its correspondent were mistaken in be-
Hevlng that the courts would limit 'receiv-
ers' salaries to fair amount" for only a.
few weeks ago one of our courts allowed
William H. Lightner, one of the two receiy-
ers OF the late Bank of Minnesota, So, 600 for
services for 1897. and to Receiver Frank A.
Seymour $500 for the same years service.
Inc published announcement of this proceed
ing also stated that Mr.. Lightner had served
as attorney for the receivers Che himself be-
ing one) in the adjustment Of complicated
matters and was therefore allowed 81 500
more iran his fellow receiver. There is
vein of delicious artlessness in this last an
nouncement that would be highly amusing
! II the Whole business had not a very serious
slde The public supposed and had been as
| sured that Mr.. Lightner was chosen CO.
receiver because one of the two ought to be
| skilled in the law" and that this combina
ton of law and business would round out
the Judicial management of this broken bank
80 that there would be no necessity to creata
an attorneyship also to feed and fatten upon
the banks assets. But it appears that this
was mistake; that In lieu Of this sensible
way, the atsorneyship should be recognized
but should be half concealed, half disclos
| ed" by merging it in the person of one of tho
receivers. and that however it was mapipu-
lated salary should be provided for. Does
not simple statement of this matter show
u 10 De shameless raid upon the asses?
AND what of the court that ordered 1t!
Worse still, If possible: Why ara two re
celVers at these very high salaries continued
Indefinitely? There IS not banker or GOOD
| that one is enough; that the Continuance of
! two year after year is private snap pen-
stoned upon the unsquandered remnant OF de-
postors' money. The writer OF this has heard
several of our most respectable and eminent
bank officers and others say that there was
no no need for two, and that the salaries lowed
them were so high as to challenge public
Indignation Not judge in Minnesota in
GLIDING the United States judges gets a
salary s, much. If at all in excess of half the
sum allowed to each of these receivers Cow
J ernors state officers, federal judges. sena.
tors. congressman. and cabinet officers are
| The late comptroller Of the currency. James
| II: Eckels, replying to recent letter asking
what salaries were paid to receivers of failed
The salary of receiver is fixed by the
comptroller OF the currency, and depends alto
gether upon the size Of the failed bank and
the nature of the trust to be wound up. The
average salary paid receivers is about S. eco
for the first years service"
Would It not have been wiser and less sug-
gestive OF scandal. to have allowed the Old
bank management to absorb all of its
unfortunate tuna creditors, money in their own
salaries and fees to fortunates not to saw
fayorites? It is notorious that the little work
daily spared from cycling and other business
| and professional duties Of the two receivers
Is mainly clerical. and hence not in dis
tressing need Of such high-priced clerks It
| timized depositors OF that looted bank are
| men and women Of small means a numb r Of
whom had their little all fched from them.
suicide because Dawson had robbed him.,
when he saw the meager remnant Of the bank
0s at e su o in
ceivefs are not blamable for taking such
salaries as the courts allow, but is it perti-
| nent to ask, in the words of The Globe
| whether tie court in this case was "inc,ined
to do strict justice and be worthy NJ ts
name in limiting the compensation of re-
ceivers to fair amount?" Is it pertinent to
| ask how long the public sense shall he
| Knocked not to say scandalized by such as
| saults upon public virtue as THIS business dis
| closes? 1t Is sane to say that there Is not
| just mind in st. Paul that would NOT
feel n sense of relief. and Of hope for the
| future administration OF law, II one Of these
receivers was discharged. and the Others
compensation limited to fair AMOUNT as
The G o b 9 puts 1t. 1t is now, going on two
years twenty months) since this double
headed and double-salaried rscsivsrship was