New-York tribune., 1908-02-22
MORE DELAY ALLOWED
Still 1nother Week GiUen to the
KmckerbOcker Trust.

The depositors' committee OF the Knicker booker
Trust Company has another week in which TO IN
duce the remaining 10 per cent of the company S
depositors to join with in its plan for reorganiza-
ton This respite was granted by Justice Clark at
St. George Staten Island late yesterday afternoon.
when he adjourned the application of Attorney
General Jackson to make permanent the knicker-
bockers temporary receivers.
James Russell Soley. counsel for the depositors
committee, read report from Clark Williams
State Superintendent of Banks. in which he said
the receivers did not have enough money to meet
the demands of the depositors who had not con-
sented to the rehabilitation plan. Mr. Soley then
urged that If the depositors committee had an
other week it could see those depositors and get
their consent to the plan for the resumption of
business. He said that in the last few days some
of these had consented to the plan. and asked for
the adjournment
The Superintendent OF Banks suggested that his
report showing the present status OF affairs and
recommending the non-consenting depositors to join
in the resumption plan be published in New York
papers to-day, Monday and Wednesday.
Justice Clark in his opinion said he impressed
with the propriety and necessity of giving all de-
positors chance to read the report. He said he
would sign order to that effect and authorize
payment of the expense ny the receivers
Mr.. Williams received letter from the Attor-
ney General yesterday in reply to one he had
written Mr.. Jackson the preceding day. Mr. Will
Jams told the Attorney General that the tenta-
tive inventory and appraisal by the receivers and
appraisers of the knckerbocker Trust Company
in his hands for consideration prior to its COM
pletion. He said that in his Judgment the pro-
mitigation of such statement would be detri-
mental at the present time, and asked if would
not be a sufficient compliance with the statute to
have the inventory and appraisal conform to the
published annual reports of banking corporations"
The Attorney General. in reply advised Mr. Will
Jams that the statute prescribed form of MAX
ing the inventory, and that inventory and ap-
praisal of the assets of the company which con-
tained the same statements in the published
annual report of trust companies. and which would
show the amount with which the receivers were
statute
Il fully concur with you in the opinion that the
tentative inventory submitted you by the
ceivers" SAID the Attorney General would be det-
rimental not only to the trust company and TO the
individuals whose credit would be seriously af-
fected by such publication. but also the gen
eral public, and l believe that it would seriously
interfere with the plan of resumption under
consideration by the court, which, l under
stand, has been .ubmitted to you for your opin-
ion as its practicability-"
Mr.. Jackson advised the Superintendent of
Banks that if the suggested inventory and ap-
praisal did not properly show the with
which the receivers were chargeable he could make
an application to the court for an order reuur-
ing the receivers to make such additional inven-
tory as the circumstances might require