Semi-weekly herald., 1908-11-16
COLORADO STATE BANK AFFAIRS
ABOUT TO BE SETTLED.

COLORADO STATE BANK AFFAIRS
ABOUT TO BE SETTLED,
Our readers will be pleased to learn
that at last matters have been SO ar.
ranged rs that the payment OF the de.
ltofs OF the Colorado State bank de-
positors is In sight. As the receiver
and his attorneys figure 1t the agree.
ment offered and accepted by the
court. Judge Holbrook presiding. will
lack a small amount of paying dollar
Tor dollar. The proposition came last
week and was refused by the receiver
and his action approved by Judge
Pike. Last Saturday night Judge Pike
ordered the payment of a dividend of
70 per cent, to be paid on the 18th
inst. and as fast as the creditors ap
piled. Judge Pike having exchanged
with Judge Holbrook left Sunday
morning for Saguache. Then came
an amended proposition which was ac-
ceptable to the receiver provided Il
would be so changed as to take care
OF expenses. This amendment was
refused by the parties and after a pro
longed fight over the proposition, un.
less the amendment was made. the
receiver and his attorneys were over.
ruled by Judge Holbrook. and the
proposition accepted. Under the prop.
osition accepted. the parties have thir.
ty days In which to make good. The
nhtprtinn nruah
his attorneys was that by the terms of
the proposition parties who took bonds,
notes and accounts In satisfaction of
claims received their claims In full,
viz: Dollar for dollar and those who
receive money will have to bear all the
expenses of the winding up of the es.
tate. The court forced the receiver
and his attorneys to let the matter
go that way.
Judge Holbrook was called here to
try the criminal cases and of course |
was unfamiliar with the receivership
affairs as Judge Pike was and II would |
perhaps have been better all around
II Judge Holbrook had turned the ap- |
proval or rejection of the proposition
over TO Judge Pike. but he didn't and
1t will have to go as II looks.
Aside from this expense matter the |
proposition is fair and should be ac-
cepted; indeed. with that In the way
the creditors will doubtless realize |
more than they would by the case be. |
ing kept in court for an indefinite pc
riod. The sticking point is that Amer |
leans like to be treated fairly without |
preferences being accorded to any If |
those who take bonds and notes had |
been required to pay their proportion |
of expenses there would be no kick |
The court saw 1t the other way and |
we must acquiesce.
WAS 1T COURTEOUS?
The Herald last night lauded Judge |
Holbrook as "the man OF the hour"
Well. not as representing the senti. |
ments of the receiver, nor as an at.
torney in the case, but as the plain
fool editor. II you want to put 1t that
way, we want to know how the Judge |
has distinguished himself
Called over here TO try some Grim.
inal cases, he has in effect settled |
case peculiarly within the control and |
custody OF Judge Pike and OF Judge |
Pike alone. On Saturday night before
leaving Judge Pike made an order |
directing the receiver to begin the |
payment of a dividend next Monday |
Three days after Judge Holbrook who |
was called here to try the criminal |
cases set aside this order OF Judge |
Pike and enters an order settling the |
whole case and discharging within |
few weeks Judge Pixies receiver. For |
nearly twelve months Judge Pike had |
control OF the Colorado bank affairs |
through the receiver as his right arm |
Entirely familiar with those affairs
even to their minutest details. he
makes an order which Judge Holbrook
sets aside after consulting few citi-
zens.
Judge Pike may have made the
oTueT JuuBe hOlDfOOk ulu IL ne nau
been here, we are not going to speak
for him. as we have no right or au-
thority to do SO; but we do not believe
he would until the bankers who were
thus being relieved OF the criminal liza
bility had provided for the payment
OF expenses; and not left favored
few to escape the payment OF their
proportion, while those holding small
claims and unable to speculate in
bonds would have to bear the whole
burthen. We do not believe that 1t
was at all necessary to allow the or
der TO go that way, because we be-
lieve that before the accused officials
would have gone to trial they would
have provided for the payment OF
those expenses. To be plain we do
not believe that It was the province
OF Judge Holbrook. when called here
10 try these men on criminal charges,