Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1900-07-05
REQUEST MADE FOR RECEIVER
For the Republic Savings and
Loan Association.
200 WILMINGTON STOCKHOLDERS
Citizens of New Castle Also
Interested.
The Industrial Saving Society, Washing
ton Lodge, X. of p, the Knights OF Sc.
Lawrence and wilmington Lodge, A. o.
U. W., Among the Local Stockholders.

New York World, June 18th.
In the action by the attorney general
for the appointment of receiver for
the Republic Savings and Loan Asso-
citation of Manhattan, brought in the
Supreme Court, Brooklyn, Edward p.
Coyne, on behalf of the attorney
general, said yesterday that an ex.
animation of the affairs Of the assooia-
tion showed that it was hopelessly in
solvent. There was deficiency Of
800, 600, he said, and the sooner the
affairs Of the company we're closed the
better 1t would be for all concerned.
Affidavits in corroboration Of this we're
submitted. A report was presented
which alleged that the management
was dishonest.
Lawyer George j. Kilgen, for the
association, denied that it was in
solvent. The charge OF the deficiency,
he said, had been made with the
evident intent to ruin the defendant.
Stockholders had sent releases Of a per-
centage of all their deposits large
enough to wire out the alleged de-
ficiency. The stockholders had done
this 10 that the association might
escape being executed before trial.
Mr.. COyne said that every one Of the
building and loan associations that
had come under the knowledge Of the
attorney general was within this case.
Decision was reserved.
President Alexander II. Forman of
the Republic Savings and Loan Asso-
citation was seen last night at his home,
No. 573 st. Marks avenue, Brooklyn,
by World reporter. He declined to
say anything concerning the matters Of
the association.
MANY WILMINGTON STOCKHOLDERS.
About 200 Wilmingtonians are stock
holders of the Republic Savings and
Loan Association. 1t began business
here about five years ago, Wesley f..
Parsons being district manager: George
A.. Roberts, manager for Delaware,
Maryland and Southeastern Pennsyl-
vania, and j. R. King, formerly seore-
tary of the Young Mems Christian
Association, solicitor. The officers Of
the association are: President, Alexan-
der A. Forman; First ioe-President
and General Manager, f. B. Case, Jr.
Second Vice President, John Palmer
Seer etary, F. o. Case; Treasurer, u.
s. Grant; Attorney. George j. Kilgen
Directors, Alexander A. Forman, f. B.
Case, Jr., John Palmer, F. o. Case,
U. s. Grant, the Rev. Jesse L. Hurl-
but, ID. D., D. Ridgeway Hendricks,
Samuel N. Calender and George j..
Kilgen.
The officers of the Wilmington
branch are: President, William B.
Clerk; r irst Vice President. DR.. j. P.
Pyle; Second Vice President, John
Wainwright ;Secr etary, Frank J. Brobst
Treasurer, Henry Baird; Appraisal
Committee, Judge Bulge and W. d.
Haddock; Attorney, II. II. Ward
Directors, William b. Clerk, DR.. ]. p.
Pyle, John Wainwright, Frank j.
Biobst, Henry Baird, H. H. Ward, John
Bulge, W. ID. Paddock, John j. Hayes,
j. B. Bell, Daniel W. Lynch, NJ. L.
| McIlroy, j. jerome Smith, DR.. p. W.
Tomlinson, DR.. Boyd Baker, Hubert
A. Roop and DR.. j. Harvey Spruance.
Alexander Palmer was employed as
agent.
Besides 200 individuals, the Indus
trial Saving Society, Washington
Lodge, X. Of p, the knights of st.
Lawrence and Wilmington Lodge, A.
o. U. w., are local stockholders.
About two years ago, 20 citizens o.
New Castle Withdrew from the Citizens
Building and Loan Association, ant
became stockholders of the Republic
Savings and Loan Association. Somt
citizens Of New Castle also invested
several hundred dollars each in paid W
stock.