The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-09-27
PRICE ONE CENT.
RECEIVERS FOR THE BANK.
American Savings Institution in
the Hands Of the Court.

] Today's Application of Nicholas T.
| H"iIer, StOckhoIder and DepoSItor,
Results in the Appoi=tment OF
r. L. JeTOrds and c. II. Syme.
| Tracy L. JeFords and Conrad r. syme
were today appointed receivers OF the
American Savings Bank by Chief Justice
| Biugham.of the Supreme Court OF the Dis
| trict- The receivers are required 70 give
bond in the sum Of $1,000 for the per-
| formance OF their duties
The condition OF the affairs Of the bank
was called 70 the attention OF the court
in petition filed today by Nicholas T
Halter. who asked for the appointment OF
a receiver to conduct the business Of the
institution Mr.. Haner states that he Il
owner Of $1,000 worth OF the capital stock
Of the American Savings Bank and is
also depositor. The capital stock Of the
I bank, he states. is 5000
As part OF his petition Mr.. HaIler in
corporates the circular letter sent out bv
I the bank on Monday last ia which IL is
stated that on account Of large discounts
made by the bank, it would require sixty
days notice 20 be given BY depositors Of
tnelr intention 20 withdraw their deposits
Continuing, Mr.. Hailer states that since
Monday the bank has kepr its doors. .onaB
and has apparently been transactine, its
usual business. except the payment cf
checks- Many checks have beer present
"a Tor payment. il is stated and Davr7eot
refused, While other checks have been
presented and been paid promptly By the
= u Hfffarl
this condition OF affairs at this time OF
Year mas resulted and will result in de-
trOying ;he confidence Of the public and
ot It's deDOsit0rs. who viii demand the
money al the expiration Of sixty davy
IL IS stated the assets Of the bank VIII
De exhausted IN paying same and viii
ne iAsulnclent 20 meet all demands and
h ADDITION the bank viii be burdened
"ilE It's expenses for sixty DAYS. thereby
making further deficit.
While the bank is refusing 70 honor
the checks Of certain depositors. il is al
legged. IL is honorfnE those OF others and
accepting them IN some instances. fl. nav
ment Of promissory notes held bv the
bank against such depositors. In this and
other ways II is claimed the bank is dis
eliminating against certain depOsitors and
against the petitioner, and disp0sing Of
some Of its assets 20 the prejudice Of the
deposit0rs-
II IS contended that the present busi-
ness operations Of the bank and its
continued unbusiness-Iike and alleged IN
lawful actions viii waste and diminish
the assets Of the corporation and viii add
unnecessary expense TO its management
II IS further stated that the liabilities Of
the American Savings Bank are about
S30.e9 while the asseJs-nOt all OF which
are good-amOult 10 about twice that
sum.
T. L. JeFords is named as counsel FOR
the petitioner.
The appointment Of the receivers for
the bank has broken into the plans OF
President Ruome and the other officers
looking 70 its resumption Of busi-
ness. As stated several days ago
in The TlmCs The officers OF the
bank began Immediately after il sus-
pended payment 10 make arrangements
to resume A considerable portion Of its
liabilities were cancelled with moneys
and ir was hoped this morning
that its affairs would be in condition for
a complete resumption by next Monday.
"A meeting Of the stockholders Of the
bank was Co be held this afternoon at l
o clock, and Pre- Jsideut Roome stated this
morning that h- believed this meeting
would decide on some plan for wiping out
the other liabilities as Tar as necessary
Nothing was known by PFC sident ROOme
lr the other officers OF the Institution re-
sarding the Intention Of BIr. HaIler 10 ap-
ply for a receiver
ar Syme. one OF the receivers appoint
Cd by the court, is The attorney for the
bank Mr. Jen0rds Is the choice Of Mr.
Haller-
il is not known whether the receivers
win take up the plans Of President Roome
and the other stockholders OF not. but il
IS supposed that the appointment OF the
receivers viii prevent the immediate re-
contemplated by the officers