The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-01-08
CREDITORS MAY
ASK STATE AID
SchettIer DepositOrs Plan to
Petition Legislature.
TOTAL SHORTAGE is $4,000
RECEIVER CHARGES INSoLVEN-
CY OF TEN YEARS STANDING

t. make some provision toward salts
flying the final Indebtedness of the de-
funct ScAettler bank in case Receiver
r. r. AndersOn's three suits against B.
II. Schettler and his three wives TO
recover $4,000 worth of property are
successful.
Present plans are to present urgent
arguments to the legislative body
showing that while the 200 creditors do
not hold the state responsible for their
loss they feel that their interests might
have been better protected had the
Etatutes been enforced and that their
present plight demands state aid.
This proposition and the filing Of
three amen ded complaints by Receiver
r. r. Anderson against Schettler and
his wives, and the failure of Schettler
to accept David Hirschfs offer of $780,
600 for the property 5nvOlved in the
suits are the latest features in the case.
As yet, arrangements 10 petition the
legislature fol' relief are not complete
The creditors have been quietly dis
Cussing the advisabilitsF of such course,
however, and are agre ed that the step
would be WISE one No public an
nouncement regarding the proposition
has been made.
Amended Compl Amt Filed.
The second feature. the fling Of the
amended com plants ~. Receiver An
derson, IS Important, a in the amended
complaints are given f5or the first time
nEureS which the depO G51TOrS nave Deen
anxiously seeking for some time. These
relate TO the total ca sh market value
cf all schettier's DOS sessions which
may be listed as securs ties of the bank,
to his total liabilities and the gross de-
felt.
OF the third feature the failure of
Schettler TO accept the liberal terms
OF David Hirschi, rep resenting about
fifty deposItors of '-DiS ie,' there is lit
tie but the bare sta1 ement OF the
SChettler family that mo negotiations
are being considered Mrs. Mary Nor
gan Schettler stated, last night in the
absence OF her husban d. that he was
not comforting with EfirSchi and that
nothing could be said of the proposed
sale of the Schettlcsr properties to
Hirschi for $4,000.
Details of Amendment.
The three amendments to the three
suits flied by Receiver r. r. Anderson
against Mary Morgan S,chettler and b.
II Schertler. as cO-defeD dants; against
Elizabeth Parry Schettler and B. II.
ScnettIeE, as co-deftendants; ana
against Peters Scl8ettIer and B. n.
Schettler. as co-defe nda1lts, all seek to
emphasize the allegation that for the
past ten years b H Schettler has been
iESolvent.
In the second section of the amended
complaint against Nary Morgan Schet-
tier and her husband is found the
charge that said defendant, r. H.
SchettIer, was on the 10Th day of Feb
ruary 1892 a private banker. and. as
such banker, owned and conducted a
private hank in the City of Salt Lake
and from thence until the 18th
day OF October 1904. and that he has
been insolvent for as much as ten
years preceding the commencement Of
this suit"
Receiver Anderson states in the third
section of the first amended complaint
that he took possession ''Of all prop
Crty. Ghosts i'm action. and effects of
Is. II. SchettleT. as said private banker.
so far rs receiver was able to identify
and discover the same" the cash mar
Eet value of said possessions being to-
cay about $37, 0oO-
This section cites that all of this
is in the possession of the plaintiff Gre
cciveT Auderson), and tnaz all has
been embrace in the first report TO the
court, filed Dec. 10. 1904
The Indebtedness. the abOve-qUoted
section relates. totals S107 600.
Total Deficit Is $4,000.
In The fourth section of the first
amended complaint the receiver says
that "aH property Is now and viii be
Insufficient to satisfy or pay the in
Gebtedness of said B. H. Schettler. as
such private banker, by large sum Of
money. to-wit $40. GOO
In section five of the first amended
complaint are found allegations re-
Carding the tardy recording OF the deed
hy which SchettI5r transferred the
g property
wife. and his reason fO- so deferring
the filing of the deed. This section. in
Tart. charges; That Aug. q, 1888. 3.
II. Schetter made and signed a deed
Ia his wife. Mary Morgan Schettler.
which purpDrtcd to transfer to her the
following real estate 100 square
rods ON the northwest corner Of Brig
ham and Q streets. facing Brigham.
This section charges Schettler with
retaining the deed in his possession
led
with the recorder. The deed was not
delivered until the day it re-
corded No consideration. according to
the complaint. PASSED from Mary Nor
gan Schettler TO 3. II. Schettler, al
though the sum of 81 is mentioned in
the deed transfer. The dollar, the
complaint cites. was simply colorado
and did not constitute a consideration
~ fact.
Specific Charge Against Banker.
The complaint further alleges thai
the control and possession of the prop
erty were retained by Schettler lin or
der that il might appear that sale
property belonged TO him." and was
behind the bank. The effect of moi
placing the deed on record. cites thi.
section. enabled B. II. Schettler to re
tain the confidence of his depositOr:
and creditors doing business with him
land they relied on his being the own
er OF said real estate and thus CAV,
him credit
Schettler with having paid taxes ans
assessments on the property cOncerne'
and with having held title from Apri
4. 1861, (the date of President Brigham
Young's deed t. 3. II. Schettler), unit
May &c 1904 when the deed In favo
OF Mrs. Schettler was recorded
Hardship on Creditors.
Further, section says that il woul
work hardship and a wrong upo;
the said creditors not 10 subject tn
said real estate to the payment OF tn
debts of said creditors; and that sal
real estate above described, is Of tn
value OF about $50 000'
The sixth section alleges that som
of the creditors are about to institut
suits against Mary Morgan Schettle
ana b II Schettler to subject tn
above described lot to the payment Q
their individual claims that they ma
obtain an advantage over the othe
creditors"
The said plaintiff. as receiver. rep
resents all of said creditors, and sal
property should be subjected 10 tn