Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1913-08-22
GOV. REPLIES
To ATTORNEY
GENERAL
Continued from Page One

ability that under any known method
or plan of handling the assets of the
defunct State Bank & Trust Com
pany there will be any reversion OF
money or assets to the stockholders
OF said bank, after satisfying the
claims Of depositors and creditors?
(2). II the foregoing interrogatory
is subject to answer in the negative.
then:
Is it a proper inference that any
procedure tending to eliminate such
stockholders from further direct or
indirect connection with the assets
injury to any such stockholders?
CD. II such second interrogatory
is subject to an affirmative answer:
Should the depositors and credit
itors Of said defunct bank elect 20
name a trustee, or to incorporate 20
acquire and themselves handle such
assets. are there any suits at law
pending in the courts, relating TO pre-
ferred creditors, or otherwise, which
would conflict with such procedure?
a.. Ii there be such suits at law
or decisions appealed from, pending
in the courts, then:
Can any method of procedure De
provided to continue the same 10
final issue or to satisfy any judgments
subsequently rendered or affirmed
and, at the same time, permit such
substitution of a trustee, or credit
ors' incorporation, for the receiver
ship?
(5). If the above fourth interroga-
ton is subject to affirmative answer,
then:
In the event that the depositors
and creditors OF said de%functbank
should name a trustee, or effect an
incorporation, and on proof that such
trustee or incorporation legally rep
resents such creditors and depositors,
would the Court, on the petition OF
such trustee or incorporation, order
elt dSsClS, lIdllIlilSCS, NhoSeS III '"
ton Of every kind and character,
belonging to said defunct bank, to be
sold, that the same may "be pur-
chased by such trustee Tor incorpora-
tom for and on behalf OF the de-
positors and creditors as provided by
law in case OF insolvent corpora
TONS provided that such trustee Or
incorporation complies with any pro
cedure which may be proper and nee
essary in respect To the above fourth
interrogaratory?
. Trusting that you Will appreciate
the good faith in which this inquiry
is presented to a coordinate branch
of State Government.
/ am, very respectfully,
ATASkER l.. ODDlE,
Governor.
In reply to the foregoing | have the
following letter from judge L.angan:
FIRST JUDICIAL DISTRICT
DISTRICT COURT CHAMBERS
VIRGINIA CITY, New. Aug. p
Honorable Tasker L. Oddie, Carson
Sity, Nevada.
My Dear Governor:
beg to acknowledge receipt of
yours OF recent date, in which yon
PROFOUND 10 me FIVE interrogations.
My answer to the first i%nterroga-
TRY is. that in my Judgment, there is
no reasonable probability that there
will be any reversion of monies Oh
assets to the stockholders of the bank
after the claims of depositors and
creditors are satisfied.
In answer to interrogatory number
two: Their only claim upon profits
by way of dividend would be after
every depositor had been paid dollar
for dollar. Under such a state OF
facts, and considering my answer 10
interragoratory number one, | can
not see how the stockholders would
suffer any real injury by a DISPOSE
ton Of the assets for the benefit OF
depositors and creditors.
In answer to interrogatory number
three: ! beg 10 advise you that there
are a considerable number OF suits
pending, brought by the Receiver TO
property and Indebtedness,
and suits and petitions brought by
others claiming preference over gen
eral creditors.
Answering interrogatory number
four, which will also be an answer to
the concluding part OF interrogatory
number three: | desire respectfully
to state that any plan or method OF
substituting a trustee or creditors
incorporation or the effect thereof on
pending suits might be presented in
my Court for a judicial determine
fion. and would undoubtedly call for