The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1907-12-27
STRENGTHENING
GLACIERS AFFAIRS
THREE MONTHS, OR MORE, BE.
FORE CHELSEA BANK CAN
PAY DIVIDEND.
LIKE HOUSE OF DEATH"
U. S. Marshal Serves Papers On Gla-
zier, Who is Very Sick Mantle
Receiver in Bankruptcy Files
6ond.

1t has been rumored that the Chel-
sea Savings bank would declare div
idend OF 10 to 10 per cent within a few
days. When asked regarding this ru-
NOR. Receiver w. w. Wedemeyer
said:
There is absolutely nothing to it.
We cannot declare a dividend of any
amount within three months, accord
Ing to the laws of the state. A notice
for the filing of creditors claims must
be published twelve successive weeks,
which means thirteen weeks before
any dividend can be declared. Even
then we don't know that we will be
able TO declare one, as a large creditor
may show up at the last minute. We
are just as anxious to clear up the
banks affairs as the creditors, and
everything Will be done as speedily as
possible.
Henry Wickham, of Detroit, with
the approval of the court, has been
appointed by me as bookkeeper and
accountant for the Chelsea Savings
bank. He is to receive 500 a month
This will be paid out of the funds
of the bank"
Asked as TO whether Mr.. Wick
ham was in the employ of the surety
company, he said: That | do not
know, but he may be. His appoint
ment was satisfactory to them and
he is TO indorse the checks that are
paid | am convinced that he is a
capable man for the position and
will prove satisfactory TO those that
have business with him"
II was a house of mourning which
Deputy United States Marshal Cas-
sius p. Taylor entered at Chelsea
when he served the papers on State
Treasurer Frank p. Glazier in con-
nection with the petition in invol-
untary bankruptcy filed in the United
States court a few days ago. Service
was not obtained on GlaZier immedi-
ately, owing to the statement of DR..
Woods, Mr.. Glaciers physician, that
the state treasurer was not in condi-
ton to withstand the shock. Mr.. Tay-
lor made two trips to Chelsea before
he secured service. The matter was
arranged through the physician and
Harold GlaZier, son of Frank GlaZier.
The son informed his father Of the
nature of the deputy marshaTs visit
and the physician and Mr.. Taylor
then entered the room. Mr. Taylor
says Glazier plainly shows that he has
been and is now very i'll.
The Security Trust company has
been appointed receiver in bank
ruptcy by Referee in Bankruptcy Da-
vock and has filed a bond for $4,000
Mr.. Taylor said after his return
from Chelsea. that he found the Gla-
zier home like house or death.
Shades were down, the door bell muf-
fed. the telephone disconnected and
everyone in the house having dis
tinct air of the realization of great
calamity.
The bankruptcy petition was filed
several days ago by Arthur h. Fixel,
Max II. Finkelston and Aaron Gregg,
each as assignee for one or more
creditors. Fixel, as assignee for
Timothy Hurley, fof J. & T. Hurley.
claims $36S96 for coal delivered to
the Glazier apartments on Jefferson
avenue. and as assignee for Frank
l.. Davidson, of Chelsea, asks $l6,2O
for LAYING cement sidewalk. Fink
elst N appears for Thomas NJ. Robin
SON Claiming 5000 for cut stone work
on an Ann Arbor building. Gregg,
for Michael j. Howe, claims 500 for
work done in October and November.
The creditors refer to several alleged
acts on the part of Glazier, chief
among which was the turning over OF
two pieces of property valued at $780,
600 10 the bank, evidently preferring
the bank to other creditors.