Omaha daily bee., 1902-09-16
MAY REINSTATE STILWELL
Receiver of Guardian Trust Conn
pany of Kansas City.

KANSAS CITY, Sept. 15.-Judge Amos NJ.
Thayer Of the circuit court today granted
the petition OF the stockholders, represent
ing Arthur z. Stilwell to discharge the re-
ceivers Of The Guardian Trust company, APP
pointed over a year ago at the instigation
of John w. Gates and his following.
The supporters Of Mr.. Stilwell, who at the
time the company was thrown into the re-
c~eiver's hands was president Of the COM
pany, asserted in their petition to have the
receivers discharged that the business could
be conducted more economically with them.
The Gates contingent opposed the move
on the theory that Stilwell desired to merge
the Gulf and Trust company into the Mex
lean Trust company. 1t is said that Mr..
Stilwell will be reinstated as president.
Judge Thayer's order authorizes the re-
ceiver to pay immediate direct liabilities to
the sum Of S199, 433, and make payments Of
contingent liabilities to the amount of $751;
$50, taking from the persons holding the
contingent claims agreements extending the
time for the aymen OF the residue. The
direct liabilities ordered to be paid include
outstanding debenture bonds, mortgages on
real estate, trust funds, open accounts and
SIG, 900 due the estate Of the late F.. NJ.
Black, by order of the court for services as
receiver.
A statement accompanying Judge Thayer's
memorandum shows that there is $685.. 1897
cash available at this date to meet the re-
Quirements Of the order, and 1t will leave a
balance Of 1851, 624.
Judge Thayer's order authorizes and d.
reefs the receiver, Immediately on the cleo
ton and organization OF the new board Of
directors of the Guardian Trust company,
which the court understands will be elected,
and will convene on October %, to turn over
to such board all property and assets OF the
Guardian Trust company in his hands.
The stockholders of the company at their
coming meeting are to adopt a resolution In
structing the directors Of the Guardian
Trust company and it's executive committee
to sell to the best advantage all the real
property Of the company, save such as may
be needed for the transaction Of business,
The executive committee is also to sell, col
lect or otherwise reduce to money, with all
convenient speed, all bonds, stocks. bills, de-
mands, claims and securities which the not
good Understanding securities, to the end
that the affairs Of the company may be put
in a condition for speedy and convenient
liquidation.
The minority stockholders who have OBJ
jected to the discharge of the receiver must
be given at least one representative on the
board OF directors to be elected October %,
who shall also be a member Of the executive
committee Of the board, II such a committee
is elected.
Today's order by Judge Thayer marks
the near approach Of the end Of the Guard
ian Trust company. This company was or
ganized as the Missouri, Kansas and Texas
Trust company in 1889 by A. e. Stilwell
80 q NIorfgn Nth m outhorfzaN nap-
itaI stock of 81, 900, 900, divided into 10 1000
shares Of 800 each. In 1899. soon after the
capital stock had been increased from
81, 500, 900 to $500. 900, the name was
changed to the Guardian Trust company.
The efforts Of John w. Gates to secure
control Of the company and Gust Stilwell
eliminated by Gates throwing the COM
pany into the hands of a receiver. This
was in November. 1900.