The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-02-04
RECEIvERSHIP OBJECTED TO.
STOCKHOLDERS OF THE ATLANTA
NATIONAL TAKE \ HAND.

Some of Them at First Presented At
fdavits Expressing Confidence in
the Managemcnt-The Court
would Not Entertain These, aud
They Then Came IN as Parties ia
the Suit-CIaimed the Association
Is solvent.
Atlanta. Ga. Feb. 3-The defense in the
Atlanta National Building and Loan Asso-
cation receivership case had its day in
court to-day.
Tomorrow the hearing viii be finished
ana the fate of the association. which con
Germs thousands of stockholders scattered
throughout the South VIII be in The hands
of Judge Lumpkin.
A score or more of affidavits were intro
duced by the defense to refute the ale
cations of mismanagement and bankruptcy
brought by Malcolm Johnson, former at
torney for the association, but now appli-
cant for the receivership, and there was a
whole drayload of books and papers and
records dumped down in the court room
upon order of Judge Lumpkin, VIII an
nounced his determination to go to the
bottom of the matter Tor himself by per
sonal inspection of the books.
In support of the sOlvency of the asso-
citation, an affidavit was read from w. H.
Henderson, secretary and general manager
of the Southern Home Building and Loan
Association, in which he said he had ex-
amined the last annual statement of the
Atlanta National and found IL to be in ac-
cordance with correct building and loan
methods. A similar affidavit was read
from Charles f. Currier, cashier Of the
Atlanta National Bank and treasurer and
director of the Southern Home Building
and Loan Association. There are other
ahidavits from Herman Stavarius, secre-
tary of the Interstate Building and Loan
Associa ton.
Several afidavits were offered from the
stockholders of the association. in which,
among other things. they expressed con-
fidence in the management and stated they
believed the appointment of a receiver
would be harmful.
Stockholders Intervene.
The opinions of. the shareholders as to
the advisabiity of the receivership were
objected to by the plaintiffs counsel, and
the objection was sustained. Judge Lump
kin held that it was not permissible for a
shareholder to express his wishes to the
court i'm the form of an affidavit, and If
any expression was DESIRED the StOcknOld-
ers would have to become interveners
Thereupon about 100 of the Stockholders
were made parties or interveners. These
stockholders united in the following affi-
davit sustaining the management and op-
posing the receiVership:
"Afiiant has confidence in the honesty
integrity and business ability of the pres
ent management of said association, and
feels confident that under the management
of said officers the affairs of said associa-
ton will be so conducted as to preserve
and forward both the interests of affiant
and of other stockholders therein. 1t is
the further belief of affiant that the ap-
pointment of a receiver for SAID assocla-
ton would work a great hardship upon
himself and other stockholders of said as
ISOLATION, and he feels assured that no Of
fieers of the court or other party could so
well conduct the affairs of said association
as the stockholders therein"