Semi-weekly herald., 1908-08-10


of said bank. in full and is an indica
tion that such amount is considered
necessary TO cover the probable de
mands which will be made by him fo
his and his attorneys charges.
The second alternative requires tha
at. the time of taking over said asset.
petitioners must cause to be paid t.
| the receiver the amount necessary t.
discharge all the remaining liabilities
OF said bank, plus an unknown ant
unascertained sum, upon the amount
of which the receiver and your peti
toners may not at said time be able
to agree
That any dispute or difference oi
opinion that might arise over said
subject or any dissatisfaction which
might be felt by the receiver or his
attorneys with respect to the amount
ultimately allowed by this court for
their charges, would tend to, and
would, in the opinion of your petit
TONERS, greatly hamper, interfere with
and impede the full adjustment of the
affairs and embarrass petitioners in
such settlement of the affairs, and
that the receiver at that time, by rea.
son OF having in his possession the
property of these petitioners to the
extent of at least 100000 as well as
the assets Of said bank, would occupy
such position of advantage that pc
titioners would not be on equal terms
with him or be unhampered in their
efforts to agree with him as to the
compensation he and his attorneys
should rightfull ask the court to al
low.
And that, on their failure TO join
with him in asking such allowance as
he might deem proper, 1t would be in
the power of such receiver, If he so
desired. to place such obstacles in
the way of final settlement as might
prevent the same and cause the loss
and forfeiture by petitioners of the
property turned over by them, and
also delay the payment of the llabill-
ties of said bank
That for many reasons, 1t is i'm
poriant that petitioners should know
how much money is required to be
paid in TO effect such settlement, and
that your petitioners have made every
effort to agree with the receiver upon
a reasonable sum to be paid for the
compensation of himself and attor.
neys, but have been wholly unable to
get him or them to name any sum
whatever as the amount he ,r they
desired or with which they would be
satisfied, and have been wholly un.
able to get from him any suggestion ss
to the amount, except only such sug
gestion as is conveyed by the propo.
sition that $4,000 in cash and bonds
be left in his hands to cover such
charges.
That petitioners desire to provide
for the payment of all reasonable
charges of said receiver and attorneys
and that they believe that sucn re
ceiyer and attorneys know and are
familiar with the services rendered
and are able to give their own opin
len as to their value and TO so advise
the court as TO enable it TO ax the
amount thereof
That petitioners believe the sum q,
$4,000 is far and above any Just oi
reasonable sum which ought TO be de
manded or allowed for such services
That upwards of 81 500 has alread,
been paid out by said receiver as ex
penses. as shown by his report, to tn,
state bank commissioner and that tn,
| $4,000 proposed to be retained Il
cover receivers and attorneys charges
in itself amounts to more than 16 pc
cent upon the total cash collected ant
received from all sources including tn,
amount turned over by the bank com
missioner 9nd offsets allowed, an,
money turned over by other banks
and that the suggestion that any sucl
exhorbitant sum Is required to cove
the possible demands for such pur
pose does greatly hamper, impede, an
= efnbarrass the proposed adjustment
That your petitioners, through thei
counsel, and the receiver and his cour
sci had agreed practically upon all @
the terms of a contract, under propt
sition "B" contained in your petition
ers' said petition. and no essential Ell,
I ment of such contract remained to /
agreed upon when said negotiation
came to an end by reason of the Il
ability to agree upon said matter ,
receivers fees and attorney fees {
D herein aforesaid.
To obviate the difficulties encou
tered In the attempts to adjust sue