Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-04-12
BLAKELY NAMED AT TRUSTEE.
Was Selected by a Majority of the
Claimants Who Represent Deposits
Agg,egatng 500, 600.
RECEIVER ANDERSON NOW OUT.
Rrmors Of Compromise that cOa.
templates a Settlement on Per.
ceniage Basis,

Nearly 200 depositors IN the d, II,
Sohetter bank crowded into the court
room Of Referee In Bankruptcy Charles
Baldwin this morning, to hold the first
meeting provided by law for the cred-
TORS OF a bankrupt.
Mr. Schettler was not present, and
the personal examination was post
poned until Friday April q, at 10
o'clock In the meanwhile the books and
papers OF the bank win be gone over
and arranged so that the examination
can be made direct and to the point,
The main business before the meeting
this morning was the selection OF a
trustee In bankruptcy.
For this position Gould b. Blakely
was selected by a vote Of a majority
OF the creditors, representing about
$4,000 In money. David Hlrsche, a
creditor was the only other candidate.
and he received five votes, representing
E4SOO depositors, Upon motion OF
trustees bond was fixed at $4,000,
which is the estimated amount of mon
ey he Will be required to handle.
Mr., Blakely stated after the meeting
that he would file his bond this after
noon, and at once proceed to secure the
papers OF the bank from Received n.
r. Anderson, whose authority to pro-
coed IN the case, ended with the filing
OF the petition in bankruptcy. Mr.
Blokely has secured as his attorneys
stewart g. stewart, who have hereto
fore been representing the organized
creditors.
This move is considered good by tho
creditors as Il allows the firm to be
maid "a the 1RsfaIxFaA a
| of forcing an assessment OF the credi-
| tors as would otherwise be the case.
| The attendance today was larger than
! a any previous meeting of creditors,
and many OF those there were unfa-
miliar with what had preceded. Ref
cree Baldwin explained that # would be
necessary for each person to file his
claim, TO he entitled 10 vote for the
trustee, although he could still get his
money II the claim was filed later,
About $50 persons submitted claims,
leaving fully helf he creditors still to
be heard from. Attorney Stewart se-
cured a number of official blanks and
acted as notary for many OF those who
we're present but who had neglected TO
have their claims sworn to. At 1880
| the meeting adjourned until Friday,
April o. when MIR. Schettler will ba
present,
RuMORs OF A COMPROMISE.
After the regular meeting this morn
| ing knots OF creditors gathered IN the
Office Of Referee Baldwin and I'm the
| adjoining halls, and discussed the
| outlook for a compromise of the entire
| proposition. The committee In charge
| of such matters, elected by the cred
| itors. is known to have been consider
ing several propositions, but both Stew
art q Stewart and Attorney VIII Ray
| who with ex-senator RaWlins repre-
seuts Schettler deny any knowledge
Of u definite plan to settle the problem
one depositor claimed this morning
| that a local bank had offered $500 In
cash for the Schettler real estate hold
| in.s, and the stocks and bonds OF the
| bank, and that Schettler would agree
10 a sale Of this Kind provided he was
assured that the criminal proceedings
against him would be dropped, As
this sum would nay the depositors near
ly 80 cents on Che dollar, those discuss
| ing il seemed To- think II looked invit.
| ing,
| Another tlan talked Of Is to propose
10 the Schettlets that the suits OF Re-
| cciycr Anderson, which Attorney stew
| art says he will renew IN tho name Of
the trustee, be withdrawn IN consider
alton for Schetters turning over the
South Temple street property, minus
$4,000 TO be retained Cor his wife Mary.
The flnal proposition is To allow
Suhcttler 10 retain an OF his bank as
sets in consideration for 4 cash settle
| ment Of 20 cents on the dollar, provided
ne can finance Incorporation through
| local banks.
As to whether tho discussion ~ a
compromise win result In any definite
steps neither the attorneys for the cred-
itors nor schettler will give an opinion.
Nothing immediate can he done, how
ever, a the law forhids any dissolution
Of a bankrupt case until after the eN-
animation OF the bankrupt is completed
and IL IS not thought that this win oc-
cur for several weeks yet