The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-10-04
IEODETTER WITHOUT
COPY OF PETITION
Attorney for Commissioner Young
Given Time 10 Prepare
an Answer

Attorney c. h. Ames this after
noon filed a petition in the Federal
court charging Bank Commissioner
A. NJ. Young with violating the
temporary restraining order issued
by Federal Judge J. H. Cotteral
late Saturday afternoon. Mr.. Ames
in his petition sets up an affidavit
signed by Secretary Ley, of the Ma.
iional Insurance company OF Chica-
80. which recites that the Columbia
Bank and Trust company opened at
banding hours thtls morning. that
the bank is paying off depositors and
again refused TO pay the $4,000 on
the certificate OF deposit in the name
OF the National Insurance company Of
Chicago. Accompanying the petition
Attorney Ames filed motion asking
that the court proceed to try Bank
Commissioner Young on the con-
tempt charge.
. Attorney w. A. Ledbetter, repre-
senting the defendant, at noon to-
day drew a draft for $4,000 on the
Columbia Bank and Trust company
of Oklahoma City In favor Of the Ma
tional Insurance company Of Chicago
one OF the plaintiffs in the suit filed
saturday, which in turn will be GER
titled to the clerk of the Federal
court this afternoon by the Guthrie
National bank TO be turned over TO
the plaintiff by order of the court
He then filed a motion asking the
court 10 dismiss the suits under the
stipulation with the attorneys for the
plaintiffs that the suits should be dis
missed when the claims were paid.
Judge Coiteral took all motions
under advisement ana VIII announce
his decision at Oklahoma City to
morrow morning
State kBank Commissioner A. NJ
Young, who Is III at the Lee hotel in
Oklahoma City, was represented by
Attorney w. A.. l-edbetter, of Okla
homa City, IN the Federal court here
this morning 10 answer to the temp
orary injunction issued by Federal
Judge ] II Cotteral late Saturday
afternoon restraining Bank Commits
sioner Young from paying any cred
itor Of the Columbia Bank and Trust
company 1f Oklahoma City IN prefer
ence TO another Attorney Ledbetter
explained TO the court that although
Commissioner Young had thought the
order Of the court was unnecessary
he had and would abide by the or
der, while denying allegations made
by the petitioners that the state
banking board was discriminating in
the paying of OF depositors, and es
pecIally not discriminating against
the claims OF the plaintiffs the Ma
tional Insurance company OF Cnica
go, which holds a certificate of de
p0sit IN the involved bank for $4,000
and @. c. Smith of Springfield. Mo-.
who Is creditor to the extent OF
S70.500.
Predicts Speedy Settlement.
Attorne3 Ledbetter stated that the
plaintiffs claims would have been
paid of before now had ii not been
that the state banking board is con-
siderfng proposition of turning the
bank over TO its officers today The
attorney declared that the deal was
Almost consummated at 2 O'Clock this
morning, wlIen the banking beard
and officers Of the bank agreed upon
terms of the turning over of the
hank today. providing certain secur
ities were raised Mr.. Ledbetter
stated that the officers of the Co
lumbla Bank and Trust company had
requested that they be allowed to
settle al accounts with their cred
itors after taking control of the bank
Attorney Ledhetter gave the court
assurance that the claims would be
paid today, and vels likely before
noon.
veasey corroborates.
J. "a. Beasey, of Bartlesyille, at
torney for the Columbia Bank and
Trust company, reiterated the state
ments made BY Attorney Ledbeiter
and also denied the allegations made
b. Attorney d. T Flynn. who filed
the petition for the plaintiffs. that
Bank Commissioner Young was show
ing fayoritism In paying off credit
ors Of the bank. He announced that
be was authorized to state that the
moment the state banking beard re-
turned the bank to its officers that
the pl9intiifs and every other cred.
itor could and would get their money
Immediately
Attorney Ledbeiief also reported