The Alaska citizen., 1912-12-16

'tlldt1 hdEHtl3F al the time the
bank closed In 1901. concerning the
adyisabiI,ty OF appointing a receiver
who would be favorable both 10 the
arlosltorS and To the officials OF
the bank The result of the con.
yorsatiou was that a meeting of
the depusitnrs was held and a com
Wittee eft five appointed to invest
gate the condition OF the bank 4
part of the information gathered by
THIS committee vas that the Gold
Bar stock was carried on the books
of the bank Al a valuation of S246.-
600. J. w. Hill presented the com
Wlffrc with a statement signed by
Armstrong. OF the Gold Bar com
uanH. pUrUorting to show that the
value OF the stock had increased
10 $&il.upu. owing 10 the increased
value of stumpagc. The results of
the Investigation and the represen-
fariun Of the bank officials regard
.D- the value of the lumber stock
satisfied the committeeman. declared
Cassels. and their report vas fay-
orthic- Dr Casspls who was a
member Of the committee. stated
That he objected to the acceptance
OF the Gold Bar stock at its III
creased value. but had signed the
committee report because a MAORI
ty OF thu committeeman had agreed.
In an effort 10 hasten the hearing
Judge Lyons called a night session
Of court
The curt convened - : O'Clock.
The session opened with K. c. Wood
called on the stand. who testified
that he had attended a meeting of
the directors of the WashngtOu-
Alaska bank. Of Nevada. a. which
was declared the dividend of SO Is
per cent on the capital stock of the
bank. $2-.Uou of which had been
placed TO the credit OF the stock and
bond account of the Fairbanks Bank
in company and the balance 10 the
account of undivided profits. The
Fairbanks banking company also dc.
Jared dividend OF p per cent. OF
which amount Barnette should have
received $5.2eo, Barnette being
present when the dividend was de
clared. Wood declared that many
Of the notes represented as real
money at the time. We're doubtful.
Receiver Moves followed Wood on
the stand. He testified that there
were eighty notes held by the Wash
ington-Alasha bank which were past
duo i'm Sruf,p,bar 1000
Bank Eynmfrar rohn / procto,
for the government eboood mot
Haruette had Withdrawn fro,, tbo
bank The sum of sopo can in 1oIa lie
also informed he court that IN SON.
fennar 1000 al tho tir,o of tbo
purchasa of tho V-asrirc,o, ,l..I,..
bank by The Foirb,nk. ponI,i,n
rnuuany tbara u.ac och nv, ta,,s
to the amount nf s57S 0OO
A = Armstrong tho loo, ,,-itroc.
called At the night session teetiriad
Thai The assets of the cola par in
1919 amounted to from no o"o 10
<42u6an Tho oriai,,al ,a1no ,,.ao
5000 6un buf that tho tou.rsito ava
store ffv,rrae ,f,ar.,-a.ds, ,,,,,.,t,aa
ed. increased tbe value
At the conclusion Of Ar,,,..r,,,,,r,,
TESTIMONY an adiournmant was -.
-, n,,tI =" a'',So1I 49, "'' tan
inc - ~ '''' '''' '''0' II
On the openinq of coprt arr,,stro,,..
p.,s Ill 80 r. ,.t.'i ~ 80. "I'1
sumpon 7| Of 10 his e Stana ana aat on Re,
cold Rar stool. in Ian"or ,s''' o ,''S
had increased So non oyinr 70 mo-
increased yaIua of the etunnoeo 10
nrther stated thar tho na - r.t1 lie
Ion ban. had afvan rho nronort,, =
valuation of 81 oo0
Iahr ,faCi,, s.u..,
strong and testified tha, The Sou.
dinayian-Amarican hanl bad ,,irad