The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1904-12-28
BANK INS0LVENT
FOR MANY YEARS
So Alleges Receiver Anderson
of SChetiIer Institution.
FILES SUIT TO GET PROPERTY
DECLARES LAND WAS DECIDED
CONTRARY TO LAW.
1 NsoLvENcY on March 5. ~. - II

1 NSOLN ENC1 on AaECA Us, 1876 dAQ loE
years prior to that time and ever
since is alleged by Receiver Robert r
Anderson concerning the financial cono--
zion OF t.. II. Schetuer, private tanker
whose depOsitOrs are endeaNorlns 90 ll--
ure out some scheme thaL VIII enaDie
them 90 collect Al least % per cent uL
the money they COnnded 10 Schetller
care
Receiver Anderson yesterday filed a
suit i'm the office of the clerk of the DIS
Trict court lu which he seeks TO nave
title made by Schetuier TO three tracts
of land which he decided 10 relatives an
uulled on the ground OF lnsolNehcy De
fore and at the time ana subsequent ~
the making Of these deeds The lana ls
estimated 10 be worth $4,000
The title of the suits Is RonerL X
Anderson. receiver Of Is. ri. Scntttter' -
private banker, plaintiff, vs. Ernest
SChettler ana Emily Davis Schetllef ms
wife, and r. u. ScheItler, u. Herman
Schettler, Cornelius ID. Scnettler anu
Florence A. Schettler MS wife ana MARY
Schetticr. wife of b. H. Schetuer.
Mr.. Anderson alleges that on Marcn
13 1897 b. H. Schetuer and Mary ScneLl-
Ter his wife executed and delivered 20
Ernest T. Schettler. their son. a war
Tanty deed 10 the east MALI or lot T. iA
block o. plat -, salt Lake cry SuEFe5'
i'm salt Lake county and state or iaI.
containing fifty square ro0s. ana thdt
Mary Schettler IN and by TINS deed hau
simply dover interest and no other anu
that b. H. Schettler was the owner on
Z
passed from The grantee, Ernest r.
Schettler or from any other person Tor
him TO 3. n. Schettler, or Mary scnelueI'
his wife or either of them except 81
which was merely colorado ana mao no
existence in fact
Insolvent For Many Years.
Ii Is further alleged by Mr.. Anderson
that at the date of this conveyance and
of it's delivery B- II. Schettlcr, as private
banker, was insolvent. and had been m
solvent for several years. and from
thence thereto has been insoivent
The allegation is also made that large
proportion of the indebtedness now eN-
listing against 3. IL. Schettler arivate
banker. amounting TO more IN value than
the real estate described. had been m
CURED before and did exist Al the Ilne on
the execution and delivery of this deed ID
/ Ernest r SchetJer.
This allegation of insolvency is blau-
! Eet aSscveratiOu that covers all the oIner
transactions complained of by the re-
cefver. The half lot described least mar
of lot I, block ga, plat ID, Salt Lake CIV
survey) situated ut the corner OF Fourth
and b streets. with ten rods facing east
ON b street is divided into three tracts
/ One Of these. Xxx RODS on the So5HoI
I of b and Fourth streets. was decided 20
/ Cornelius y. ScBettler, the Oldest son, on
4 Dec. -. 1901. TO consideration. the re-
ceiver alleges. passing Ihis same tract
I of land was decided by Cornelius ID
/ Schcttier 10 his wife Florence Adler
Z Sohettler Nav - 1873 but the deed was
: NOT recorded until MAY 70. I0f, AFTER INC
Miller suit had been started ln the Lniru
/ district court The consideration was ST.
I which the receiver alleges was wholly
+ cuforaihle rnyi lf,f-r-ifer ss tsto7l-e en- t;fel
I The second tract 2tzG6 r0us. on Fourtn
Z street Just west OF the torhel4s -
I Schettler tract was decided by Ernest
/ Schettler To- his wife, Emily Davis Schett-
{ Ter. i'm April. 1904, also after the Alllct
/ suit was brought The consideration wa
/ 81 and other value. This the receiver also
/ says was wholly colorado and had no
B existence in fact.
Willing to Pay Mortgage.
The third piece of ground, being Sx9
( rods facing ON 5 street. with a one-roo
wagon road right Of way. was decided by
B. f. Scnertler as attorney IN TACT Tor
r. F. Scnettler April -, lSN. inc re
F ceiVer alleges that there was no con-
SideratiOu. but that 500 was mentioned IN
the deed by b. H. Schettler 20 ett1p-e
+ his son. Herman. 20 OBTAIN Sl-lO0 lOaA
on the same day from the United States
p Mortgage * Trust company This com
pauy il is alleged. found next day that
g. H. SchettIer had not recorded the deed
. Of Mayor +. H. Wells 10 him. Hence ne
was compelled TO place the deed on record
April IS 1850. so Is 10 give Herman a
{ good title and 10 enable nm 10 OBTAIN th9
4 loan on the mortgage Inc receiver Say >
i'm his COMPLAINT that he IS READY anu
willing TO assume the payment or the
amount due or to become due Or salq
. mortgage The mayor deed covered all
.
+ otherwise il would not nave Decn pidcel
/ on record. the receiver alleges until dlaN
or June of this year. when the dSecS OF
. ScheItIer TO his wives were recorded
1 Receiver Anderson filed in the otuce
f of the county recorder yesterday after
+ noon q lis penGens on the three tracts
/ named i'm his suit, which gives notice 10
! everyone that suit Is pending against lhe
: parties named 80 determine title 10 these
Mr.. schettIer has admitted that he re-
/ cciVed no consideration IN the trans
actions complained of in the suit de has
said that they were voluntary convey
ances. and that he did not receive as
. much as 81 from any of the parties 10
I whom the tracts were conveyed
Committee Of Depositors Meets
A meeting Of the general committee or
the defuuct Schettler private bank was
I held last night at room % Hooper
Eldredge block. Andrew GruufCr pre-
/ sided He made a speech I'm which he
I said he had Investigated the official acts
1 of Receiver r r. Anderson and found
them straight. The receiver was doing
| everything possible, he said. TO conserve
/ the interests OF the depOsitOrs. From all
| the information ne could get he had
Z reached the conclusion that they would
! get about - per cent OF their deposits
when the affairs OF the bank were finally
+ wound up.
The following were appointed q COM
mittee to collect money from the de-
I Dosftors TO hire an attorney TO assist
I Judge C. s. Zane to look after their in
I tereSts i'm the courts. Andrew GrunfOr,
-qS West Sixth North street. a. w Davis.
732 First street: +. J. . Brien with p j.
/ Moran. Peter Hanson, Danish consul.
THE latter was made treasurer Of the COM
! mfttee Thus far the collections have
amounted 10 $3.50. 1t was decided 10 ask
ON each dollar OF their deposits I'm TIN
bank and an adjournment was taken un-