The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1914-11-13

ord but as yet has been unable to see
it.
SUITS FILED.
| The Commissioners has filed suit on
the note of the Paris Baseball Club
amounting to about $1,600.00. This
note was secured by mortgage on
real estate, judgment was taken and
: the property sold under order of court
| for $1,606.00. This with the small
! balance to the credit of the Paris
Baseball Club will practically pay the
| note.
We also filed suit against l.. M.
Kern and R. B. Hutchcraft on a note
of $4,000 and one against M. j. Muir
ply for about $1,200.00; one against
| Walter Clark for about $2,500.00. The
defendant, Clark, is a member of the
| firm of Clark & Wills, this firm had on
deposit with the Geo. Alexander & Co.,
State Bank, $2,91S.03, and he claims
! that he has a right to Offset his in
debtednesS to the bank by half of the
amount of deposit of Clark & Wills.
| He has sued A. j. Winters e Co., on
| three notes aggregating S4,S00.00, and
he has sued William Berry on lien
note amounting to $1,929.27. These
matters are now all pending in the
Bourbon Circuit Court.
LITIGATION WITH THE DIRECTORS
The only action thus far taken with
| the Directors is a suit filed against
them by the Commissioner to recover
! oh WI h0 ic
sioner claims they unlawfully paid out
| to the stockholders of Geo. Alexander
e Co., State Bank, while the bank was
insolvent. He is advised by counsel
that the Directors are liable to him,
representing the DepositOrs and Credi-
tors in large sum of money, sufficient
he hopes with other assets available
to pay the Depositors and legitimate
creditors of the bank in full.
He has not filed any other action
against them because he is advised
by his counsel that in the event he is
not successful with his litigation
against the Fifth-Third National Bank,
of Cincinnati, O., and the American
National Bank, of Louisville, then the
Directors are liable to him for the
sums which he is seeking to recover
from these banks, and he has been
advised to defer any further action
against the Directors until he knows
he outcome of this other litigation.
DISTRIBUTION.
The Special Deputy Banking Com
missioner now has to his credit, in
ole nf ovstcs
sums of money amounting to $11S,-
908.52. Included in this sum is the
proceeds of the collateral or at least
a large portion of it, claimed by n.
Kriener, and in the action of n. Krie-
ner against the Commissioner, ThOs.
J. Smith. and the Snecial Deputy Com
missioner, B. Wcodford, n. Kriener,
the Special Deputy Commissioner has
executed bond to the plaintiff, N Krie-
ner, TO surrender to saidKriener
all CT the paper described in
Kriener's petition ounting to $40,-
10000, or in case he collects any of
it, then by the terms of his bond, he is
to return 10 Kriener the proceeds of
such papers. AS matter OF pro-
lection to himself, he now asks that
he be allowed to hold said collateral or
the proceeds of such of it, as he has
collected, until the case OF Kriener
against him is finally disposed of by
the courts.
The total outstanding Indebtedness
Of the bank including rejected or con-
tested claims, as shown by this report
is $406, 151.S1. The Commissioner now
desires and asks permission of the
court to distribute all monies on hand
to the depositors and creditors of the
bank of Geo. Alexander e Co., State
Bank, Withholding only such a sum
as will be necessary to pay the costs
of administrator, except he asks as a
matter of protection to himself and to
his bOndSmen, that he be allowed
to retain the pro rata going to those
persons whose claims he has rejected,
most of whom are now suing him,
until these matters are determined by
the courts. He says he is now able to
distribute % per cent to all the credi-
tors of the bank, whose claims he rec
ognizes and he now asks that he be
allowed to distribute 25 per cent to
them.
All of which is respectfully submitted,
THOS. J. SMITH,
Banking Commissioner of Kentucky.
Py d MOOnEODD