Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1912-05-02
ASSESSMENT
Of 100 Per Gent. Upon
The Stockholders
OF The Defunci WaierViIIe Trust
Company Ordered
In Decree Issued, Wednesday, by
Associate Justice Spear.


a GEORGE was handed down, Wednes-
day, by Associate Justice Albert NJ.
Spear in the equity case OF William
e. Sketon. bank examiner. VS.. the Wa
terVillc Trust Co., ordering an assess
lnent Of 100 per cent. upon the stock
holders OF record of the defunet bank.
The decree sets forth that from the
assets Of the Waterville Trust Co.,
which have been sold by the receivers,
Hon. Charles +. johnson and Harry L..
Holmes, and reduced 10 cash, but $780,
S46.74 remains and that this sum and
the amount that can be realized from
the sale OF assets yet unsold viii be
Insufficient by So, 05S.JO TO pay the
claims of eli depositors in full.
The doors of the Waterville Trust
CO. we're ordered closed 10y Associate
Justice Spear, May 10. 1909, upon Pc
tition of William b. SHELTON of Lewis
ton. who was then bank examiner
Justice Spear, July 2 1909 appointed
Hon. Charles r. johnson and Harry
L. Holmes. receivers
The text OF the decree ordering the
assessment upon the stockholders is
as follows.
Kennebec SIS: Supreme Judicial
Court in Equity.
William b. SHELTON. bank examiner,
VS.. Watervillc Trust Co.
This cause came on to be heard on
this I'D dag of April. \. ID, 1912. upon
the petition OF Charles +. Johnson and
Harry l.. Holmes, receivers of the Wa
teryille Trust Co, To ascertain and de-
tefmine the value of the assets of the
Wateryilie Trust Co. remaining in
their hands and unsold, also to deter
mine ant. award the amount OF the
compensation OF said receivers for
their services in said action, also To
ascertain and determine whether any
assessment should be ordered and de-
creed upon the capital stock of said
Natefville Trust Co, and the amount
of said assessment. And after notice
and hearing upon said petition, it is
hereby ordered. adjudged and deereed
That the amount of money which
can be realized in ANY event from the
sale of the property remaining in the
hands of said receivers ut this date
and unsold will not exceed the sum Of
5000. 5S531
M1hat. after dcducting the dividends
10 Is per cent. of the face
value of their deposits heretofore paid
all depositors of the WaterviIle Trust
CO.. in accordance with the DEGREES of
this court, there was due to said de-
positors of the Watefyille Trust Co.
on the first day OF April, 1912. the
sum of S3e7 .990g5, which sum still re-
mains due and unpaid
That from the assets of the Water
vile Trust Co, which have been here
tofore sold by said receivers and re-
Gnced to cash, there remains in the
hands Of said receivers the sum of
s6o.346..4.
That said sum of .$6G,346.s4 and the
amount that can be realized from the
sale CT the assets in their hands still
unsold will be insufficient to pay the
claims of all depositors in full by the
sum of Sl07 ,o5S90, without any dedue-
TORS from said assets for the pay
ment of the fees awarded to said re-
ceivers.
It is therefore, hereby further or
deder, adjudged and decreed
That an assessment of 100 per cent.
upon the whole capital stock OF the
Waterville Trust Co. amounting to
y
of said depositors.
And that said Charles +. Johnson
and Harry L. Holmes in their said ca
pacity as receivers of said iWateryille
Trust Co.. be hereby authorized and
directed to collect from each owner of
record of the stock of the Waterville
Trust Co, on the second day of July,
1908, the date when the said receivers
were appointed by this court, a sum
equal TO the par value of his stock to
be used In payment of the claims of
said depositors, when ordered by the
court.
Ana that the said Charles f. Johnson
and Harry l.. Holmes, in their said
capacity as receivers aforesaid. be au-
therized and directed to institute all
necessary proceedings in law or equity
10 collect the same and enforce this
decree.