The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1909-04-30

of one year from the first publication Of
notice to creditors he may declare final
dividend, such dividends to be paid to
such persons and in such amounts and
upon such notice as may be directed by
the said district court. Objections to
any claim not rejected by the public ex-
aminer may be made by any party IN
terested by film" copy of such on1ec,
tons with the public examiner, who SHAH
present the same to the district court at
the time of the next application TO de-
clare a dividend. The court may make
proper provision for unapproved or UNI
claimed deposits Whenever any SUCH
bank of whose property and business the
public examiner has taken possessio n as
aforesaid. deems itself aggrieved thereby
1t may at any time within ten days AFTER
such taking possession apply TO me oiS,
hank is located to enjoin further proceed
mss, and said court after citing the pun
lie examiner 70 show cause why curther
proceedings should not be enJoiDeyd, ana
hearing the allegations and proofs of the
parties and determining the fscts, may,
upon the merits, dismiss such appIica-
tion or enioin the public examiner from
further proceedings and direct him to
surrender such business and property TO
such bank Whenever the public exam
finer shall have Maid each and every de-
positor and creditor of such hank mot
including stockholders) whose claim or
claims as such creditor or deroSitor shall
have been duly aDrroved and allowed the
fun amount Of such claims, and shall
have made proper provision for unclaimed
and unraid deposits or dividends and
shall have paid oil the EXPENSES Of the
liur;aation, the public examiner shall call
meeting of the stockholders of such
corporation by giving notice thereof for
ten days hv publishing such notice In
one or more newspapers of the county
where the bank Is located At such
meeting the stockholders shall determine
whether the public examiner shall be
continued as Nruidator and shall wind up
the o-sai-s Of such bank or whether an
agent or agents shall he elected for that
purpose, and IN so determining the SAID
stockholders shall vote by ballot In per-
son or nv proxy, each share ~ stock en-
titling the holder to one vote, and the
majority Of the stock shall be necessary
to a determination In case II is deter
mined TO continue the liquidation under
the public examiner he shall complete
the liquidation of the affairs Of such cor
poration. and after paving the expenses
thereof shall distribute the proceeds
among the stockholders in proportion to
their several holdings of stock In such
manner and upon such notice as may De
directed by the district court In case
agents to liquidate, the stockholders
shall thereupon select such agent or
agents by ballot, a majority of the stock
present and voting, in person or by
proxy, being necessary to a choice. Such
agent or agents shall c-Acute and file
with the public examiner a bond to tne
State Of Minnesota In such amount, with
such sureties and In such form as shall
be approved by the public examiner, con.
ditioned for the faithful performance OF
all the duties of his or their trust. and
thereupon the public examiner shall
transfer and deliver to such agent or
agents all the undivided or uncollected or
manning in his hands. and upon such
transfer and delivery the said public ex-
aminer shall be discharged from any and
all further liability to such bank and its
creditors. Such agent or agents shall
convert the assets coming into his or
their possession into cash and SHAH &C
count for and make distribution OF the
property of such bank as Is herein pro-
vided in the case of distribution by the
public examiner, except that the expenses
thereof shall be subject to the direction
case of the death, removal or refusal to
act of any such agent or agents, the
stockholders. on the same notice as that
after which they We're elected and In the
same way, may elect a successor who
shall have the same powers and be sub
ject to the same liabilities and duties as
the agent originally elected Dividends
on unclaimed deposits remaining, unpaid
in the hands of the public examiner for
six months after the order for final dis
tribution shall be by him deposited in
panies to the credit Of the public exam
liner as such, in trust for the several de-
postors with and creditors OF the liqui-
dated bank from which they were re.
public examiner shall report semi-annual-
ly in his public report the names OF banks
so taken possession or and l1Qu1dated ana
the sums Of unclaimed and unpaid de-
posits or dividends with respect to each
of them respectively. and also brief
statement of the principal facts as to
each such LIQUIDATION. The public ex-
aminer may nay over the moneys so held
by him to the persons respectively en-
titled thereto upon being furnished sat
isfactorv evidence Of their right to the
same. In cases of doubt or conflicting
claims he may REQUIRE an order Of the
district court authorizing and directing
the payment OF such claims. lie may
apply the interest earned bv the moneys
so held by him towards defraYing the
expenses incident to the payment and
distribution Of such unclaimed deposits
or dividends to the depositors and cred
itors entitled TO receive the same. and he
shall include in his said public report a
statement Of the amount Of interest
earned by such unclaimed deposits and
dividends.
Sec. 4. This act shall take effect and
be IN force from and after its passage.
Approved April 10. 1909.
CHAPTER 1885, F. NO. SOS.
AN ACT relative to special elections in
cities of the third class, the nomina-
ton of candidates for election and the
registration Of voters at such elections
Be 1t enacted by the. Legislature Of the
State Of Minnesota:
Section l. That whenever a special
election shall be required in any city OF
than ten thousand inhabitants and less
than twenty thousand Inhabitants, to fill
any vacancy in the offices of such city
ard the charter of such CITY shall not