Pine Bluff daily graphic., 1914-11-05
Application for Authority to Pay 10 Per Cent Divi-
 dend Is Filed.
$60,231 WILL BE
 DISTRIBUTED SOON
Holders of Approved Claims Aggre. gating $6O2,316 to Participate in Dividend. Which Is Recommended
 by State Commissioner.

Creditors of the defunct Bank of Pine Bluff will receive 10 per cent of the amount of their claims, as soon as Chancellor J. M. Elliott issues an order authorizing the state banking department officials to make the pay ments. Application for such an orde: was made yesterday by State Bank ing Commissioner John M. Davis through Bridges & Woodbridge, at torneys for the department in ti,=' Bank of Pine Bluff matter. Tine az plication states there are sufficient funds on hand to pay 10 per cent of the approved claims, excepting that of Edgar Brewster, which is not to be paid until all other claims have been settled.
 This means that approximately $74,371 dollars will be disbursed among creditors of the bank which closed its doors on June 3 and was placed in the hands of the state bank ing department. A report of the claims against the bank, submitted to the court on October Is by Special
 
 E. Pugh showed that claims for $9C9,-. 9SS.Sa were filed. Claims to the amount of STAB. .710.97 were approved. Of the remainder some were rejected in toto. while credits offset a num- .ber. a44 sse ..a--',r r'-.-s'-. -f.sf zs-=z
 The claim of Edgar Brewster, former sheriff, for $141,394 is elimi- po+od fro,o +boco ;nol,,dod in tho prO rata of the funds now on hand for the probable reason that some of the stockholders of the institution aided the sheriff and his bondsmen in se- curing the funds needed by the of- ficial when time for settlement with the state arrived, MT. Brewster as signing his claim to those who prac- tically repaid the deposit.
 Checks for the installment to be paid are understood to have been made out by the officials now in charge of the bank, and are to be mailed as soon as Judge Elliott is- sues the proper order.
 Frank l.. Milner, employed to assist the state banking department of- ficials in liquidating the affairs of the bank, professed ignorance of any i'm tention to declare a dividend among creditors of the Bank of Pine Bluff, when seen late yesterday afternoon. Mr. Milner censured the newspapers for what he was pleased to term "arousing the depositors," and as- serted that nothing could be done without a court order.
 We can't tell when we will be able to declare any dividend" sad MT. Miner, who then explained that considerable difficulty had been en- countered by the liquidators in col lecting monies due the bank because of newspaper stories asserting that the bank would resume business. MT. Milner did not mention that applica- tion for authority to disburse 10 per cent. to the creditors had been filed in the chancery court. His statement that newspapers had printed articles indicating the bank would resume business was an allusion to news paper reference to the organization ol the Jefferson County State bank shortly after the closing of the Bank |of Pine Bluff.
 Judge Elliott will probably issue the order authorizing the payment of 10 per cent of creditors claims as soon as he returns to the city, as the court has heretofore accepted the recommendation of the state officials in charge of the affairs of the de- funct institution.