Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-12-16
Analysis Of the Report of Receiy.
er R. R. Anderson Filed
Yesterday.
SOME DOUBTFUL SECURITIES.
Some Of the Collateral Listed Will
Not Bring Prices Indicated 10
The Open Market


schettler, as published In the News
last night. showed according to the
figures OF MIR. Schettler's books assets
amounting to 1lOO186St with liabilities
totalllng slOl2lS36 The apparently
excellent showing OF only a small ex-
cess in liabilities, is, however, greatly
changed by the fact that many Of Mr.
schettler's securities are listed, It Is af-
hrmed, at values that cann)t be reaiz-
ed on them, Especially Is this true Of
great portion Of the real estate secur-
ity, much Of which in oren market
would not bring anywhere near
the valuation listed The notes re-
celyabe department includes also many
items that win probably turn out to be
bad security on which payment cam
not be forced; tll5SSl3 Of the items
listed as notes receivable have no Sc
CURLY behind them, The stocks and
one bond listed are valued In the books
at about twice what they could be sold
for, according to present market con-
dltons, one item In the is am
oyerdraft Of y. II Schettler Of Sl,293.5l
upon which II is thought that not
great deal can be realized.
Discussion Of the case today took tho
form Of a suggested combination Of
creditors for the purpose Of sueIng the
state on the grounds that Mr. Schettler's
own published statements showed the
bank insolvent FOR long period before
II ceased receiving deposits Another
suggested action WIS against Mr. Schet-
tier on the grounds that last MAY GER
tain valuable real estate was transfer
red to his wiyes-the homes they oc-
cupy
SOME OF THE ASSETS.
The various items making up the as.
sets ana which show on examination
TO be oyerrated IN value are as follows.
IN the real estate the total assets are
16StO225, more than hair OF the total
assets listed. IF the property holdings
which are scattered through Salt Lake
county and Davis county with few
farms IN other places In the state were
10 be forced on the market at once II Is
doubtful II over $4,000 could be realiz- |
ed on II. However, some OF Il IL deslr- |
able property and In time should repre- |
sent greater valuation than what could |
be realized NJ once
Under the head OF notes recelvobler |
much Is listed that has but little mar |
ket value; S200s5 Ia listed as secured
ana SIT 55SlS az without security
Among the notes receivable unsecured
Is one SIGNED bv r. II. schottler for
5000, which Is nearly half OF the total
amount unsecured Another note nm
secured. by b. Fl. schettler is for 50 FOO
dated only a month before the bank
closed.
ARE UNCoLLECTABLE.
Another item In the assets is a iudg.
ment against G, W. Aldrlch, r.. 1.
Brltton, and w. II, Rowe, for q.25295.
which is conceded TO be uncollectable
by parties Interested In the banks az
fairs.
The stocks rated are not OF recog.
ni2ed market values, except I'm a few
cases. There Is no recognized value 10
20 shares OF the Chicago pumlce COM
pany, rated at $500 The Black Pine
Mining company's stock has no mar
fet value now, although IL is rated at
'l,O4O for 5000 shares, which the bank
holds.
How the case will finally be settled II
y hard TO torsee. Mr. Schettler claims
hat he will settle In full II he Is not
provided too much on real estate sfles
It sacrifice prices, AS Mr.. Schettler is
lged, and has for years not changed
MS valuations, much real estate still
standing at the prices paid IN
he BOOM 4 Is not considered
hat final settlement will reach
he percentage he predicts. OF
IFS slO727s.36 liabilities. over 500 900 Is
lue to deposltors, on their accounts.
These accounts represent mostly tho
avlngs Of poor people throughout the
tate, and are held IN small amounts
" large number Of deposltors. II 10
mong these deposltors that the blow
4 the failure will be principally felt.
OLD TIME BANKING METHODS.
The bank has been established for
many years and Is something Of a relic
I pioneer days, and its sinking into
eep water comes rather as the result
{ It's inability 20 meet the greatly
hanged business conditions OF Salt
AXE as a city rather than a village.
he large amount OF money loaned
'lthout security echoes the days when
II the trading was between friends and
eighbors, when every mans word was
is only desired security
II is but justice to Mr. Schettlcr to
tate that he was as unecqualnted with
ne actual condition OF HIS affairs 40 :
ere his depositors and IN his own pub
shed statements showed himself to be
lsolvent according TO the standards OF ;
lodern business requirements, His :
ank did not come under the Inspection ,
Z the state bank examiner, as It was =
private concern. There is a long 1
anding dispute between Mr.. Schettler !
nd the secretary Of state. over the
OF Mr., Schetters capital stock
r. Schettler claiming that the law
'quiring II 10 be $50 900 or over did not
pply to him, as his bank was doins \
lslness before its enactment. The
,tlon against him was finally taken by
Ie secretary OF state on account OF
Il continued noncompliance with the Il
W. r.
Most OF Mrschettler's deposltors were n
,ope whom had known him In the Il
oneer days, and had continued 10 DO n
isiness with him through all the years h
nee then. b
MR.. sCHETTLER's STATEMENT. o
Mr, Schettler was interviewed by n z
of the News" today. r,
no asked him II Il was true that ne n
d transferred TO his wives property u
cupled by them as their homes. I'm. II
ldlng the valuable piece Of property q
east South Temple, tn May last. He OF
Id II was true that the deeds were on. il
recorded at that time. but that they n
d been given the members Of his FAM ci
many years ago. They had, how. al