The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-11-28
SALE is APPROVED.
Judge Pollock Places His o. X. on
Transfer Today.

The faith of the depositors' commit
tee in the ultimate paying out of the
First National bank, dollar for dollar,
was exemplifed this morning, when at
the committees request Judge Pollock
of the United States circuit court, is
sued an order authorizing the sale of
the bank building at the corner of
Seventh and Kansas avenues to the
Knights and Ladies of Security for a
sum approximating $87,50O.
The sale between the parties was
made some time ago, but before 1t
could become final and legal in an
instance of this kind, the federal court
had to authorize the transfer Accord
ing to the terms the Knights and
Ladies of Security take in the building
on claim of $4,000 which the order
had deposited in the defunct bank, and
by the payment of $4,000 cash. One
cash offer of $4,000 from an eastern
man named Davis was for a time con-
sidered
But the depositors have now become
convinced that the bank win probably
pay out and were therefore willing to
give the Security lodge the building,
both because it settled a large claim
and because it was the largest bid.
TT shows that we feel sure that the
bank viii pay out or come mighty
close to it" said Judge s. H. Allen, q
member of the committee which wait
GQ upon JAuEG POLLOCK LLllS morning.
IF we didn't feel that confidence. then
we would not be willing to give the
Security lodge the advantage and
preference of tn cir offer, 1nasmuch as
they liquidate the price with the big
deposit which they had IN the bank.
We felt this to be the best offer under
the conditions. The depositors' com
mittee feels very. confident Of a good
big share of their money back and
many of US think that we will get all
aF mr. dpo7GioT1 n sell fn tn a
Knights and Ladies of Security was
made after considerable reflection and
investigation. The comptroller of the
currency permitted us to appoint q
stockholders and a depository special
committee of six members to confer
with Receiver Bradley Of the bank
and obtain from him whatever fnfor-
nation we desired. We are also to
confer and advise with him in matters
that may come up and this is one of
them. It was our unanimous judg-
ment that this was the bid to accept,
for it offered the best advantages. It
demonstrated our faith in the bank
paying out The order by the court
this morning was simply formal, but
something that must be done in in
stances of this kind"
The members of the depOsitors
committee present were, Mr.. Hackney,
Mr.. Radges and Judge Allen of the
stockholders committee. Mr.. Smith
and Mr.. Snattinger. Receiver Bradley
and his attorney Mr.. Gault were also
in attendance
The case was stated by Judge Allen.
who has been acting as the advising
attorney for the depositors. Different
members of the two committees also
spoke.
The court asked each member of the
committee in turn whether it was his
opinion that this was the best bid and
whether it was the best and most adj
visable thing to accent it. Each mem
Der Of the committee nodded in the
Affirmative and most of them took oc-
easion to express. themselves in the
matter.
"Since you represent the depositors,' .
said the court. land since it is your
opinion that it is best to accept this
offer I make the order for the sala.,'