Semi-weekly herald., 1908-08-13
Receiver e eiI',!' I. Wait Waited Until
/ ...,..s ...s,,. Court Adjourned


y S'..l" .I5A3o ,lo ana..a. a-mi i
: '''v. Durango Colo, Aug. 8. 1908.
Hon T. j. ODonnell and Hon B. w.
. Ritter. City.
Dear Sirs: .aYsis 44e --4.. ~ - a.lt
I B. N. Freeman. Frank Eldredge and
W. G. Chapman having presented a
formal proposition to the court to al
low as compensation to the receiver
and his attorneys $500. -.
We hereby agree that we will pre-
sent to the court petition asking said
,coirt to fix us such reasonable COM
pensation as our services shall merit,
which in the aggregate shall not ex-
coed sT.500 upon signing of said con-
tract and placing the property In the
hands of the court. -st r.....4
Whatever amount by the court is
allowed, shall include all services to
the closing of said estate II said agree
ment is carried out by your people. b
----- OWEN F. BOYLE.
s.ssi-.2S REESE M'CLoSKEY.
''-'o ao'.slD 20. 8. GALBREATH. 80
| -"ot..s .soSG1t-- saI -.lp -..l ~
| The above appeared in the Democrat
Sunday morning. copy having evi-
| ienr1y been handed the Democrat be-
fore 1t was delivered to Mr.. o'Donnell
Nh. fact; we doubt If Mr.. O'Donnell
has seen q copy of 1t up to this time.
| A representative OF The Herald called
on Mr. Ritter this morning in regard
to the proposition. Mr.. Ritter said
that he did not care to discuss these
matters IN the newspapers. but that
"-Phe- letter published by the re
cefver and his attorneys was not de-
livered to me until after Mr.. O'Dont
nell, who has had charge of these ne
gotfations for settlement, had left
i town. "sy 50 srtpl ,.t,.l- n, .aa.
ut is to be regretted that the re-
ceiver and his attorneys did not ac-
cede to the repeated request to name
some sum which they would be salts
fed to accept and that they allowed
the court to adjourn and Mr. O'Don-
nell to leave for home before they
gave any intimation of their change
of heart. ~ tsaJaisa Ina a,.l. a.s
2a'They could have obviated the nee
essity of making the application to the
court II they had acted at any time be-
fore they broke off the negotiations.
.-"The letter will be sent to MIR.
0'Donnell and when court meets again
such further action as may seem nee.
essary in the premises will be taken.
LIT is to be hoped the receiver and
his. attorneys will, at that time, be
willing to take such action as will en-.
able Mr.. O'Donnell to complete the
settlement and payment of the credi
tors of the bank -. a.as,.5
as s1it..aAsa. ........,... ...
Now The Herald is pleased to have
the receiver show some disposition at
last to get In line for winding up the
affairs Of the bank, although during
the week while the court was in ses
sion every effort in this direction prov.
ed unavailing, the receiver going 20
far. at one time as to demand nearly
nifty thousand dollars in securities. and
the last proposition demanding $40, 600
In cash. $4,000 in gilt-edged bonds and
then such other sum as the court
might fix. Mr.. O'Donnell came to Du.
range representing the syndicate in
Denver backing Mr. Freeman at con.
siderable expense, and put in week
endeavoring to secure settlement
and day after day urged that the com
pensation of receiver and attorneys be
liked, This was not done and the
possible expenses of concluding the
trust were SO out of reason that Mr..
lO'Donnell would not bind his people.
or course there are numerous loop
holes In the letter signed by Mr.. Boyle
and his attorneys and the organ of the
receiver comes out and declares that
those putting up the money can have
no say In Its disposition and that the
receiver must not be hampered In
other expenses, etc. Well. every de-
positor knows what the propositions
were submitted by Mr.. O'Donnell.
They were published verbatim and all
that was necessary to have every de-
tail carried out as outlined was the
naming of reasonable receiver ex.
penses. Now court will not be in
session until the last of the month and
the Judge cannot sanction or ratify
any contract until court is again In
session, and It is pity the receiver
waited until after the adjournment Of
court before waking up to public opln-
ion. o,.t al.
In the meantime Messrs. Freeman
and his associates will keep on work
Ing. They are bound to see that de-
positors get dollar for dollar no matter
how much they are handicapped. And
no time should be lost in signing for
bonds Of the Freeman Investment com
pany and the Income property bonds.
These bonds are Just rs good az gold,
The receiver and everyone acknowl-
edge the property back Of them isl