The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1899-06-15
THE LAST CHAPTER.
DAN HEAD BANK FAILURE FINALLY
SETTLED BY THE ASSIGNEE.
ASSIGNEE GETS A BIG FEE.
Court Allows Him $4,000 for HIS Services
for the Four Years Work.-Attor-
news will Receive $4. 4O0.-
one More Dividend.

The final scene in the settlement of
the affairs of the old Dan Head bank,
which closed it's doors in August, 1895,
was enacted in the Circuit Court before
Judge Fish this morning, when the
assignee, George Hale, presented a
petition asking for the allowance of
the final account and the discharge of
the assignee.
The account which was presented
with the petition was exceedingly long
and covered all the transactions of the
banks business since the assignment
was made four years ago. To many
people this report will prove exceed
ingly interesting and not few were
present when Mr.. Hale was sworn to
tell of the settlement of the old
question.
The testimony of Mr.. Hale was the
same as the substance of the report
presented to the court. 1t was shown
that since the failure of the bank the
assignee had been able to collect from
outstanding assets of the bank the sum
of $146,998.18. Of this amount the re
port showed that four dividends had
been paid as follows: First a 40 per
cent dividend amounting to 1853, 694.06.
Second, a 20 per cent. dividend,
amounting to $31, 845.86. Third, a 10
per cent. dividend, amounting to
S15, 949.08, and lastly a fourth divi-
dend, amounting to per cent. or
$4,000. The division of the shrink
age in the assets of the bank was
largely shrinkage on notes and over
drafts. The shrinkage on notes alone
amounted to $40, 49751. The report fur
Their showed that some of the claims had
been paid in full to the amount OF
$1,000. The expenses (incidentaD in
the settlement of the affairs of the
bank were So, 930.7O.
Following the report of the settle
ment of the affairs of the bank, bill Of
expenses was reported in the way o.
salary for the assignee and the attor.
| neys in the case, which amounted in al
| to $40, 800. This is divided as follows
To George Hale, assignee of the bank
for four years labor, $780, To the
different attorneys who have beer
engaged in suits and other business
attending the settlement of the estate
| So, 400. The report showed that there
was still $18, 69082 on hand, and after
the payment of the fees of the assignee
and the lawyers this amount will be
divided into another dividend of 81
per cent, which will be paid to all the
| people having claims against the bank
There was no discussion of the allow
| ing of the account of the assignee, as
the Judge stated that he was of the
opinion that it was reasonable and that
the assignee was entitled to 800 a
month and the report showed that he
worked a total of fftY-eight months
and another month would be required
to settle up the minor details of the
bank failure. Judge Fish issued an
order admitting the account of the
assignee and he was discharged.
Considering all the attending cir
cumstances of the failure of tie bank
the people interested seem to be wholly
satisfied with the settlement which has
been made by Mr.. Hale.
According to the dividends paid and
to be paid the assignee will pay to the
depositors a total of 804 per cent,
leaving deficit of less than 20 per
cent. The details of the final settle
ment of the failure will be completed
within few days.