Norwich bulletin., 1913-06-18
HAVE PLAN TO
 SAVE TRUST COMPANY
On Plea from Trustees and Directors Court Grants Postponement in Thames Loan Receivership.

In the superior court here on Tues 1 day morning before Judge Williams i the matter of the application made by | the state bank commissioners to have 1 8 receiver appointed for the Thames Loan & Trust. Go. came up according to postponement from last Thursday. Stating that there is a prospect that the bank can be put on it's feet, Attor- ney Allis asked for a continuance. He said the directors and trustees believe there is a, chance to enlist other inter ests that will help the company Judge N. J. Ayling. who appeared for the trustees and directors, presented a. pe- tition from President Harold Lawton asking for three weeks time for con sultation and work with the end in view of keeping the institution run ming. MT. Lawton, Judge Aydng said, was willing to put in hls own money and would secure other financial aid for the trust company.
 To the Judges question how a de- ceiverShip would retard matters Judge AyIing answered that 1t might destroy confidence and have a bad effect in that way. He said that the directors and trustees are all agreed about this matter.
 Attorney William H. Shields rep resented Mir. Iawton and addressed the court, saying that the bank had heen an institution for the small saver and that MT. Lawton was successful business man whose aid should mean much to the bank.
 The state bank commissioners were represented by Attorney Edwin s. Thomas, who would be satisfied if the matter were continued. The bank com missioners, he said. thought the in terest of the depositors would be con served by a continuance in the mai ter.
 Mir. Lawton, as president of the bank, told the court that he was anx- ious to save the bank for the depoSi- tors, and this was in line with his work in saving properties He would put in $26,oo0 and would try to get others to put in $1o0,0 900 more. He said that all the bad stuff in the se- curitfes had come from the affairs of the United States Finishing company. MT. Lawton said he had bought 20 shares of the trust company from for mer President Franklin s. Jerome and later had bought another share.
 Two other attorneys, A. 4. Browning and H. H. Pettis, representing people with small interests said they were willing to have the matter of the re- ceivership postponed.
 Judge Williams put the question to Judge Ayling as to how this sudden change of heart had come about from the conditions at the hearing last week when the bank commissioners had said a receiver was badly needed.
 Judge Ay1ing said that recently MT. Lawton was chosen president and in discussing the matter of the condition of the bank MT. Lawton proposed that the institution be saved, and then it was decided to ask for more time from the court.
 Robert W. Perkins said he has in terests that take up his time and pre- vent him from giving to the affairs of the bank much time, but he ap- proved of Mr. Lawton and the proposi- ton he offered.
 Judge Brown and Lawyer Tanning represent interests but did not ad- dress the court,
 Judge Ayling. the court. and MT. Lawton talked the matter over briefly, and then the court granted a delay until Friday, June 27