Semi-weekly herald., 1908-02-10

that Mr.. Freeman will be able to get
certain securities In shape mucn
quicker than anyone else.
ton witn the deciding OF the proposed
property over to Messrs. Freeman and
Chapman will be rectiHed. and the
wording of the deed is being prepared
In which will be shown the exact con
ditIons. The receivers must perform
faithful service and should they re-
sign or refuse to carry out the trust
Imposed upon them. then the property
remains the assets OF the bank And
should they both die. then II will pass
to their successor. The only 2rovis
ion Is that II Is not TO be sold to pay
depositofs before the expiration OF
three years. Mr.. Freeman Is very
confident he will have every depos-
itor paid long before three years roll
around and there are many others
who believe the same thing. There
arr plenty of reasons why II is better
for depositors to have them In as re-
ceivers. II is well known that along
at the last collections come In slowly
and 10000 to $4,000 may hang fire
for months-yes. years. 1t is for this,
with the consent OF the court that
the proposed receivers insert tho
clause permitting them to sell or
1t can be done for sufficient amount
to pay depositors in full with per
cent interest. No outsider could do
this. But being their Individual prop
erty they will have a right to do just
rs they please with 1t 30 long as their
contract is fulfilled
Now as to the payment Of dspos-
itors having $50 or less. The $1,000
raised for this purpose simply reduces
the liabilities Just so much. 1t does
not work . hardship on the other do
positors because the agreement calls
for the money to be put up In ad.
dition to the property to be decided.
And 1t was plainly shown last night
that It does not lessen the liability oil
shareholders should 1t become ueces-
sary Cor depositors to look to them
for their money later on.
And. finally. the whole question
comes down to this point: What
viii the court do in the premises?'
No one. so far as The Herald has
heard. knows. True. the Democrat
editor. Mr.. Day, has given 1t out al
straight goods that he will not sane
ton the agreement. This may be
true. but we do not believe Judge
Pike is making the Democrat his
pouthpiece MS to what he will or wnI
not do. II Is q matter that will nee
essarily have To be presented to the
court. and there Ii no use In crossing
the bridge until 1t Is reached. but 1t
is folly to refuge to sign the agree
ment because you do not know what
the court will do. Surely the court
will not tell what position will be
taken until the matter comes to 1t of.
ficially, and the committee will do
this at the proper time. The best
Judgment OF an Overwhelming major
ity sis .gsnetaiiy followed when 1t
comes to financial matters wherein
the court ia only Interested to the cx-
tent OF securing the best returns.
4.- tsA-9 ssisss
Now as to MIR %. +. Boyle. AS stat
cd In thesUs columns on different oc-
casions.i the agreement signed up by
the committee ID rot a slap thin IN
any shape. when the meeting was
held aztec Nj. Boyle made hts report
the feeicnc was not Of ths best The
showins was not good. And by uDan-
imous consent the committees was con.
unued saA given Instructions TO carry
on negotintiohs with the bank afYic-
Iisls Nat would siss them more mon
ey. VITA these Instructions the com
mittee went ensfgstlcsily to work
with the result that terms were no
cured that appeorsd TO the members
to- be the best possible under any cir
cumstanccs ard whereby depositors
win sNcure their money. Hsace the
was only following instruc-
tons. CsrtainlJ this u not a slap at
Mr boyle Again. the committee
went on the. hypothesis that Mr..
Boyle would willingly resign If sat
isfact0sy settlement OF the banks af-
fairs could be obtained. And we en-
tertaiA . high res2sd for Mr. Boyle's