The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1914-04-29
Order is Made as a Result of Depositors' Wishes
and in Justice to All Who Are Entrusted
With Its Liquidation.
JUDGE CALLS ASSGNEES AND PART or DPOORS COMMITTEE INTO
COURT AND MAKES VERBAL STATEMENTS IN REGARD TO
PASSING OF THE OFFICIAL ORDER.
The Official Order and Report in Substance Of What Judge Said to
Assignees and to Committee in Regard to it.

Before small crowd of specta.
tors. most of them court attaches.
Chancellor P. z. Jones in chancery
court Monday morning passed an
order of vital interest to the $500
depositors. as well. as the stock
holders, of the Commercial Bank 4
Trust Co., which failed here jan
uary 5, and of which institution.
Louis Cohn, former director. and
L. H. Baggett. former assistant
cashier were confirmed by order
of court as assignees. The order
passed came as a elimination to
continuous dissatisfaction among the
depositors. due to the fact that no
representative from them had been
permitted a voice in the final liqul-
dation of affairs now being carried
out by the assignees. This feeling
resulted in three depositors' meet
ings at the county court house, the
last gathering giving authority
to F. S. Swain. Paul M. Hobbs,
E. Nations. P. M. Mason and A.
W. Smith, as a committee to carry
out their wishes.
After a committee consultation
with Judge Jones, the Chancellor,
while not complying directly with
the resolutions passed by the de.
positors, public notice was given
of his intention to pass the order
officially acted upon today. the de-
positors' committee meantime en-
dorsing the plan submitted. The
assignees answered the proposition
by getting up Is large typewriter.
pages of objections to it and
tsubmitted them to the court for
perusaI several days ago.
The official order declared is as
follows:
OFFICIAL ORDER
Louis Cohn and L. H. BagQett, VS.
Commercial Bank & Trust Co
In this cause after due consider
alton, it is ordered, adjudged and
decreed by the Court of its own
motion. that Allen Thompson, of
jackson. Miss. W. z. WiIdberger
of CIarksdale. Miss and DR. V. l.
Terrell. of Magnolia Miss shall be
and are hereby appointed as special
masters or commissioners with all
the powers properly belonging to
special masters or commissioners in
Chancery according to the practice
of equity courts.
That the said special commits
sioners are hereby directed and in
structed to examine and report to
the court as to the sufficiency and
correctness and as to the propriety
of all disbursements allowed and
shown by the account to be filed
in this cause during this term of
the court by the assignees which
said account is to show receipts and
disbursements made by the as.
signees since their appointment.
Second The said commissioners
are to examine the report of the
auditor when filed together with
the schedules in the case now on
| tiIe and report to this Court or to
the Chancellor, whether or not in
their opinion and judgment such
audit is sufficiently thorough and
complete and whether from such
auditors report and the schedules
it appears that anv suit or suits
should be brought by the assignees
to enforce the personal liability OF
any officer. director. or stakeholder
of the Commercial Bank because of
any liability incurred in and about
the business and management Of
said bank.
| Third. All of the resolutions
adopted by meeting of the de.
positors held at the court house OF
this county on April IL. 1914 are
hereby referred to and said com.
missioners are directed and re.
quested to report thereon and to
| make such recommendations as ir
| their judgment and opinion they
n may find and consider proper
4 The said masters and cummls-
sioners shall have the power to
| issue subpoenas for witnesses tc
attend before them and to testify
about any of the above matters
and the Clerk of this court ii
4 directed to furnish them with
copies of such accounts and reports
, and other papers on file in the
cause as they may desire for theil
convenient use in performing theil
duties as commissioners.
While the above order is made
Iby the court Of it's own motion
yet the same is not without notice
to the assignees and is made il
response to resolutions made by de-
lpositora on April Ii, 1914. Motto.
TO the asHignees is disclosed b.
decentralization of the Chancello'
Ton this subject and the reply Of thl
Eassienees which correspondence
u III