Semi-weekly herald., 1908-08-24
USUAL MlsREpResENrArIoNs.

USUAL MISREPRESENTATION.
The receivers organ is getting busy
again. For, few days the paper. as
well as the receiver, were knocked out
of the ring by public opinion, but with
time the organ labors under the i'm
preston that people forget, and re-
news Its lying on the same old lines,
and we may expect a continuation
until given another knock out blow.
The receivers organ says the propo
sitions submitted have been agreed
to and It's up to the bank officials to
make good. This is not true. The
proposition has not been accepted.
The proposition was turned down by
the court, and while court was in ses-
sion similar one, or one much better,
was turned down by the receiver.
After court had adjourned and the de-
positors began making 1t warm, when
they ascertained that the receiver had
endeavored to hold out nearly $50 900
in good assets to pay costs, he rushed
into print accepting the 1880 Of
fered as remuneration for himself and
attorneys. but up to this hour the prop
Osition has not been filed in the dis
court court. nor has the court given
an intimation that 1t will reverse its
position and accept the proposition
Having been turned down by the court
the bank officials have. no alternative
but to await developments. The prop
Osition Of the bank officials was to
put up sufficient money to make good
dollar for dollar for depositors in con-
nection with those subscribing for
bonds and the money already in the
hands Of the receiver. To bind such
q proposition they offered to immedi,
ately put up 1880 in cash to pay the
receiver and his attorneys. In return
the assets Of the bank were to be turn
ed over to those advancing the money.
In other words, the assets Of the bank
are purchased for sufficient sum, in
connection with the bonds subscribed.
to pay every dollar Of indebtedness
Now read the evasiyeness of the re-
ceiyer's card. The, receiver accepts
the $500 proposition hut does not
sccept the remainder hut asks for
everything to be placed in the hands
Of the court, which means the present
receiver. Why did the receiver wait
until court adjourned before coming to
the front? This is question that the
receiver nor his his organ can ever
answer to the satisfaction of any one.
Again. the organ Of the receiver
came out Thursday morning and de-
clared the receiver had not received
bids for the Durango Mil and ELEVATOR
company property. The receiver was
asked directly by Herald reporter. II
he had received bids from $1,000 to
| $4,000 and he answered direct that
he had. He was asked why he had
not sold the property and he replied
that he had not yet submitted the mat
ter to the court. So our readers can
| see wide difference between the
statement Of the receiver In this In.
stance and that Of his organ. The
efforts to mislead are so patent that
even blind man can see through it. :
or course the organ is greatly dis
appointed to know that Mr.. Freeman
and his associates have friends who
have the utmost confidence In their
integrity to do the right thing, and
that the chance OF sending Freeman ei
al over the road has gone glimmer
ing.
But no matter how much lying ths
organ may indulge In. will not sltel
the purpose of the bank officials Il
secure payment in full for creditors q
the bank. Subscriptions to the bont
proposition re being handed In dali,
and the total now foots nearly &75,000
Thee bonds are better than the casl
for those having idle money. The Sc
CURLY is first-class and the rate o
interest Is, higher than municipal o
district bonds are commanding. 81,
Il Further. the bank officials are goin
to renew their efforts and before tn
Sth of September will make 1t plai
to Tie court that they are prepared I
do snsiness. Pst. those who are putin
J up tssist on hANing, .thef rishts p4
> seettd, 9th~Ki.S they VI ia lpsubs
the money. and NO one should objec
All ,he .depoaitors, and creditors wsz
70 dollar for dollar or its equivalent