The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1914-06-27


commission. and pay them, my
judgment may be questioned and
the wisdom of that selection may
be questioned. but / think Ill ave
the same authority to elect these
commissioners that had to author
ize the selection of the first audi
tor. II / had the authority then,
! have 1t now, according to my
Judgment or rather according to
my understanding of the law and
these gentlemen are trustees, it is
true, appointed by the stockholders
OF the bank but at the same time
the instrument appointing them is
made in connection with the Code
Chapter on the Suggestion of AS
slgnments and the Code Chapter is
incorporated in the question of as
sigDment the same as If it were
written and incorporated in it and
taking them all together, the judge
of this court is a kind of co-trustee
with them with the right TO cast
the deciding vote and the controll-
ing vote and that is what has been
done in this instance. And / think
! am acting within my province in
appointing this commission and
want them paid. Since discussing
the matter with you. / have consid-
cred the proposition. We have
got to act together. II the re-
ceivers and the judge of the court
can't get along together, some
different arrangement will have to
be made.
NEW JUDGE OR NEW RE-
CEIVERS.
We will have to get new Judge
or new receivers because we can t
move all against one another; and
possibly / ought to resign but
haven't made up my mind yet to do
SO and | want their cooperation
and assistance and | wapt--
HON. H. CASSECY:-Well,
they want to give their co-opera-
tion and assistance. With refer
nece to the motion we have made
here to set aside the allowance, all
we are doing in that, the Court
may be right and probably is right
but any payment they might
make in the wind up another court
or the Supreme Court might decide
that the Court was not right, then,
this money comes out of their
pockets. They will be paying out
of their own private funds and not
out of the estate. That's the only
thing that they are trying to do.
They don't object to the thing 60
ing on like it is; don't object to
the commission staying in office,
but all they want to do is to get in
position where they will be pro-
tected IN case of that kind.
DEPOSITORS HAVE MORE
INTEREST THAN STOCK.
HOLDERS.
When reference was had to the
expense of, the commissioners,
Judge Jones SAID:
The depositors have more inter-
est in this than the stockholders
and, if they want to- spend it that
way. | think it is all right.
Hon. H. Cassedy-Of course.
My conception Of the assignees is
that they represent the depositors
of the bank and up to date the as
signees have made the objection
not for themselves but for the ben
e6t of the estate That's their
idea about it.
MONEY WELL EXPENDED.
Judge Jones-With that expen-
diture of $500 they have found
what they consider to be items
amounting to between $780, 600
and SIPS. 900. If they should re-
cover that, there would be $1,000
or Sc, 600 we'll expended.
Hon. H. Cassidy But. if they
should not be able to do it?
Judge Jones: Then they would
have the Satisfaction Of knowing
that things had been specifically
handled and in justice to you and
to myself, | don't see how we can
get over it.
Judge Jones:--I was going to
ask the Sheriff to telephone Mr. A.
"A. Cohn and Mr.. Tom Brady and |
thought they might be the attor-
neys to handle this.
Call them up Mr.. Sheriff and get
them over here.
Mr.. Louis Cohn:-If. in the case
of the Bank of Franklin, you can
take up my record and you will see
that ! have been ss anxious to sue
Mr.. McGrath. the President of our
bank. as anybody else. have
tried to walk a straight line all the
way.-all the way through. We
don't decline to bring any suit at
all.
Hon. H. Cassedy:-We don't OBJ
ject to bringing any suit the Court
orders to be brought We are pre-
parng to present that to you 10
this matter. OF course. with ref.
erence to the Bank of franklin. |
probably will--some Of would
have to be witnesses ,r parties to
the suit.
OBJECTIONS TO COIN AND
BRADY.
Mr.. Louis Cohn:-Now your
Honor. take Mr.. Cohn ard Mr..
Rradv fhav have haan fiohfsnn fl,o