The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-04-07

VALUE OF NOTES HELD BY RE.
CEIVERS OF MINNESOTA
SAVINGS BANK
RECEIVERS DELAYED REPORT
1t Contains Information More DeA-
mite Than Measuring to Cred
itOrs of Willie BickeIs
Broken Bank.

Messrs I. d. Sheehan and F. N. Dick
son. receivers for=the Minnesota Savings
bank, filed theiFsfirst report In the clerk
of courts office Yesterday. The report Is
a very lengthy one, and the receivers dc
not state in their report in which bank
or banks the cash on hand ia deposited.
The report does not purport to contain
| detailed statement of the work done In
| reference to said estate or to the condi-
ton or such matters which are now In
court involved in litigation, some of
which are still pending.
Exhibit A is list of bills receivab, G
that have not yet been disposed of.
Class A. consisting Of a total face value
OF $2l,59S.S1, are, In the opinion of these
! receivers, practically, II not absolutely,
worthless.
Under Glass B are listed several bills
receivable of the Minnesota Savings
bank that have not yet been realized
upon, the total face value of which Is
$S,29S.SS, which, in the opinion of the re-
ceivers, can be realized upon to GER
tain extent
Class {, consisting of So, 456. 9S, are offset
by deposits and claims against the Min
nesota Savings bank, held by makers of
notes.
Class E, amounting to a total face
value of $50, 4S171, consists of certain bills
receivable turned over to us as receivers.
and which the receivers feel need some
explanation, The note for $500 made by
X. h. Mcleod and u. F. Polk is a note
claimed to have been given without con-
| sideration, and payment has been re-
fused on that ground. Henry Burkhardt.
note, El,991.S5, and H Burkhardt, note.
5000, are claimed to be without consid-
| Grafton:
The Burkhardt note for 81, 931 IS, Mr..
Burkhardt claims never to have signed
nor executed.
The one for $7O2O was placed in the
Minnesota Savings bank for the purpose
of reducing the indebtedness at that time
to the Minnesota Savings bank for one
Hazel M. Bickel, as evidenced by prom
tssOry notes to that effect then in the
Minnesota Savings bank, for which the
bank at some previous time had parted
with consideration.
The Security Real Estate and Invest
ment company note for $9,226.44 was a
note originally given to the Minnesota
Savings bank for-S15,000 The records of
the bank show that this $4,000 did not
pass to the maker Of the note, but was
passed to the credit and on the books Of
the bank to the managing officer of this
Institution The maker of the note ap-
pears to have been corporation, with
which Warter r, Wilmot was actively
connected at one, time. and appears not
to have been In the possession of any
property whatever, and is absolutely ir-
responsible.
The notes of Alfred Kittson, amount
| ing to something over $4,000, purport to
| have been given by Mr.. Kittson and John
| +. Baker as q consideration of a contract
between J1ittsong and Baker for a one
| half interest in the franchise, charter,
good will, business and profits of the
| bank at the time of the execution of
| the contract In April 1885, The contract
was made with BicSel as an individual,
and not with the bank, and he became
| the owner Of the notes. These notes
were discounted in the bank and made
| payable directly to the bank, and they
| were placed In the bank for the purpose
| Of taking up certain Indebtedness repre-
| scented by certain notes signed by the
! Security Real Estate and Investment
| company, and other notes representing
| indebtedness of Hazel NJ. Bickef.
The three notes given by Walter r.
! Wilmot to the bank for sums aggregating
| $500 are practically worthless.
The note of M Z. Kelly, $2,4O0, appears
from the records to have been given
without consideration, but was placed in
the bank for the purpose OF reducing the
indebtedness of persons directly or indi-
rectly connected with the institution.
The Northwestern Security Investment
company note for $500, Endorsed by AL
bert Scheffer and Fl. a. Castle, purports
on it's face to have been accompanied by
$4,000 in bonds of the North st. Paul
Land company.
Before the failure Of the bank the
bonds were delivered by the bank to AL
| bert Scheffer, as the receivers had been
| Informed, with the understanding that
said bonds were to be delivered back to
the bank to be held as security for the
said Indebtedness. This has never been
done and at the time the receivers took
possession the bonds had passed beyond
the control of Mr.. SchefHer and he was
powerless to return them.
The Chris Stahlman Brewing company
notes appear to have been without con-
sheraton the bank never having parted
with ANYTHING as q consideration there
for. but. on the other hand, 1t appears
that the consideration for the Stahlman
brewing company note of $4,000 was
given in payment of the Hazel M Bickel
| note for S, 2SS 49, the difference being ap-
piled to reduce the Security Real Estate
and Investment company note to the
amount of SO, 40
The notes referred-to In Class F are
| secured nv real estate mortgages, the real
estate being so encumbered that it is of
! little, if any, value.
The items of judgments and overdrafts
are worthless.
Summary OF receipts
| PITIs discounted .................. 1921 Oh
pts Iar ............... 96S 90
Wiecellaneous ..................... 3,03S 81
NJ, s17 163 IS