The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-01-11

referees decision. They claim that
Karnes. New & Krauthof should not
be allowed anything for their services
performed after the adjudication in
bankruptcy.
Judge Hazen agrees with the conten-
ton of the trustees that no allowances
can be made to the attorneys for the
petitfoning creditors on account OF SER
vices rendered subsequent to the adjudt-
cation. He states that 1t Is true that
rendered valuable services to the bank
rupt estate. That they helped to re-
duce the Indebtedness of the company
by resisting illegal claims resulting In
their disaIIowance and made discover
les which may be valuable to the bank
rupt estate.
In vieW of the fact tht the receiver
was ably represented by counsel at
the various creditors meetings, tn 9
referee does not think that there was
any necessity for the services of at
torneys for the petitioning or inter-
vening creditors after the adjudication
in bankruptcy as would justify the
court in making an allowance for
their services. E.t1.
In allowing the attorneys fees to
Charles Williams, the referee states
that Williams was responsible IN part
with securing a reduction in the III
debtedness against the Uncle Sam Oil
company of about 100000, consisting
of more than $4,000 worth of diyi-
dend checks and rs, per cent of the
face value of bond issue of $257,000
which We're held to be illegally issued.
In addition it Is stated 1900 claims
were looked into and examined be-
fore being passed on. Because of all
this in which Williams was assisted by
krauthof of Karnes, New & Krauth..
off, the referee thinks that $4,000 ao-
ditionai to $1,000 already paid is e
proper fee for Williams and Krauth-
off. who will apportion the fee among
themselves.
Concerning the receivership of J.; C.
Q. Morse, Judge Hazen says:
He did the best he could, handicap
ped as he was by not knowing what
day a trustee would succeed him in the
management and control OF the prop
erty.
TT is claimed by the bankrupt that
the property in the hands of the re-
ceiver as going concern was of the
value of fifteen thousand dollars; but
the appraisement that is now being
made by the appraisers will probably
fix the value at from five to six hun
dred thousand dollars. The. receiver
! took possession of property of the value
of at least five hundred thousand dol
lars, cared for it and operated the plant
from April % to November Z. This was
not an ordinary receivership. It entail
ed far greater responsibility than If
there had been involved only a few
hundred or a few thousand dollars. The
greater the care required and the
greater the responsibility assumed the
greater the compensation should be. To
take charge of this property and con-
tinue the business required person Of
! more than ordinary business qualifica-
lions.
1.-The receiver has filed no formal
claim for compensation but 1t was stat
ed at the hearing that the receiver was
asking ten thousand dollars for his SER
vices. do not feel justified in making
an allowance of that amount but be-
lieve that the receiver should have five
thousand dollars for his services. He
has heretofore been allowed two thou
sand dollars and an order will now be
made that he be allowed three thousand
dollars more. making five thousand dol
lars in full for his services as. re-
ceiver."
Judge Hazen thinks the Uncle Sam
Oil property to be worth $500.000 and
says the value of 81, 900 given is ex-
caSSiVe