The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-10-20
RUSH FOR A RECEIVER.
Failures Of Trust Company and
Banks at Different Points.

Dover, Della. Oct. 20.-Tbe insolvency
of the International Bank & Trust COM
paDy of America at the City of Mexico,
which is a corpora ton of the state OF
Delaware and which was recently given
authority to increase its capitaI stock
to $5,000,000, caused one of the most re-
markable dashes for u receivership ever
known here. A number of those inter
ested in the big company who were op-
posed to the receiYerShip obtained in
Mexico, which closed all the company 5
Mexico banks and also opposed the Sc
lection OF Don JacinlO -Patteres, "A law
yer, as receiver, gathered here with the
object of obtaining the Judgment of the
highest court IN the state which created
the company Those present We're.
Charles L. Phillips, vice president;
Joseph G. Deane of New York, a direc-
tor; James L. Wolcott, a lawyer OF
Dover. another director: former Cover
nor W. 7. Watson. also d director
Henry RidgeieY, special counsel for
Herbert Compton, a stockholqer, ana
William L. Gooding, special counsel roa
the company.
An application to Chancellor Nichol-
son was hurriedly drawn up PRAYING
him to appoint a receiver who could go
into Mexico and elsewhere and take
charge OF the company's assets.
Later the party hurried aboard a
Delaware railway train for Lewes and
-
cellor Nicholson by boat, the chancellor
having gone on a trip from the Della
ware breakwater on the pilot boat PhiIa-
delphia.
The members of the party expect to
oVertake the chancellor and express the
belief they will get a receiVerShlp. They
claim that because this is corpora
ton OF the state of Delaware the action
of the chancellor will take precedence.
Herbert Compton, a stockholder, makes
the application to Chancellor Nicholson
on the ground OF insolvency.
New York, Oct 20.-Assistant District
Attorney Miner today began aninVesti-
cation into the affairs of the Interna-
tional Bank and Trust company, a con-
Germ incorporated under the laws of the
state of Delaware with a capitalize ton
of $40, ,000, 900. Thus far $500, 900 of
stock has been issued. The company
seven branches. It's office in this city
was in Wall street. The officers are
VIM. H. Hunt, president; Chas. F. Phil
lips, first vice president, and John H.
Maugham second vice president.
On Saturday the concern failed. 1t
was then learned that $56000 of the
firms notes were protested here and it
was then charged that the company
had been doing a banking business in
this state without certificate with the
state banking department. ME-. Miner
announced he would examine the Off
Gals of the company.
BANK DOORS CLOSED
Milwaukee. Wis, Oct. 20.-An evening
Wisconsin special from Montello, Wis,
says:
A notice was posted on the door of
the Montello- State bank today stating
that the bank was closed by order of
the state bank examiner A large crowd
of depositors gathered and were told by
Cashier Currie that they will receive
every dollar and that businss will be
resumed as soon as the affairs can be
Strengthened out
PRIVATE BANK ASSIGNS.
Bloomington, ILL.,, Oct. 20.-The pri-
vate bank of J. Z. Brown q Co., at
Chatsworth, assigned today and will be
closed pending a settlement for the ben
eft of creditors The liabilities are es-
timated S35, 900 with assets probably so
per cent of that sum.