Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1901-03-14
REpuBLlO,LoAN ASSOCIATION.
The Receivers Issued a Letterto the Share
holders Here and Elsewhere.

The Receivers Issued a Letter to the Share
holders Here and Elsewhere.
Edward G. Riggs add Otto Kelseys
the receivers of the Republic Saving.
and Loan Association, have issued the
following letter to shareholders here
and elsewhere, under date OF March 9Th
To the Shareholders Of Republic Saw
ings and Loan Association: The re-
oeivers deem il their duty to call the
attention of shareholders to the follow
ing matters, to wit:
First-That, while IL is OF no per-
sonal interest to the receivers, 1t Is en-
tirely Unnecessary for shareholders to
employ an attorney for the collection OF
any sums they will receive on their
shares, for the reason that in practi
cally every Instance the amount claimed
by the shareholder agrees with the
amount appearing on the books OF the
association, upon which amount the re-
ceivers will be directed by the court to
pay dividends, which will be forwarded
by mail to eacn shareholder. To en-
ploy an attorney simply means the de-
duction from what this shareholder will
ultimately receive OF whatever he pays
the attorney, without deriving any
benefit.
Second-That, owing to the real
estate aud securities OF the association
being Sd diversified, and so widely
scattered % through several different
States, itsis Of. necessity impossible
for theapt0give any approximate esti-
mate OF the amount OF dividends that
will be paid; although Some OF the
parties 10 control Of the ass collation. at
the time of the appointment Of the re-.
lut hat al In
pay a large dividend.
Third-That spectators offering to
purchase the stock of shareholders will
necessarily not pay anything like what
the shareholder will reoevs on final
distribution, because there would be no
object for the speculator to purchase 1t
were he not to make handsome profit,
| and generally ic such matters the speou-
lator receives many times what he pays
| therefor. y
Fourth-That the receivers represent
all the shareholders, being created and
! appointed for that purpose by the Su-
creme Court Of the State of New York
| and the various Circuit Courts OF the
United States, to whom they are re-
sponsible and 10 whom they are under
pond to the amount Of several hundred
thousand dollars for the faithful per.
Torrance of their duties; and that, had
the court deemed 1t proper 10 have any
party appointed receiver who was con.
nected with the control of the associa
tion, it would have appointed some oil
them on the application which they
| made therefor.
| Fifth-phat each shareholder must
file with the receiver his certificate OF
stock, and in case he has one, his pass
book. A receipt will be given for each
certificate and pass-pook as soon as
they are received by us, and they will
be accepted as sufficient proof Of the
shareholders claim against tho associa-
ton, unless the court hereafter directs
additional proof, in which case we
will notify you. No dividend can be
paid until all certificates are filed.
Sixth-That the time OF the payment
Of frat dividend will necessarily depend
almost wholly upon the assistance Of
the shareholders themselves rendered tc
US by the prompt filing OF certificates
ana pass-books, and the speed with
which we may be allie to turn the
assets of the association into cash.