Arizona republican., 1914-03-13
RELIEF F0R PARTIES
 IN b|G SUIT
Judge Sawtelle Enters Final Decree in Arizona Mutual and Arizona Trust Case Leveling All Interests in Assets

Ending the litigation of several years, Judge SaWtelle entered his final decree in the case of Clark versus the Arizona Mutual Savings and Loan Association, and dlstrlbut- ed among the two hundred stock holders in that company and its sup sidiary equal shares in the assets. The troubles of the Arizona Mutual and the Arizona Trust Company are now to be handled by the courts standing master in equity, Edwin +. Jones of Tucson.
 The intervenors of the second group, are. by this decree established on d plane with those of the first. The former decree delivered by Judge Sloan just before he left the bench, discriminated between the two classes of stockholders, and there fore left the loophole by which At torneys R. E. Morrison, J. E. Morrl- son. oscar Hickey and Benton DICK for the second intervenors broke the steadfast rule that a final decree cannot be attacked in a subsequent tarm of court
 It was by the exercise of a good deal of hard work both by the court and the attorneys that this case IS ended thus satisfactorily. It has been a sharp legal battle, in which some clever work has been accomplished.
 Briefly. the case was this: The Arizona Mutual Savings and Loan cd in phnpniY and stock sold all over the United States, Canada, Mexico and the is land possessions The assets re- solved themselves into about S13O,O0O when a receivership was sought ana secured some years ago. The offl- cers of the company had formed an other corporation known as the Arl- zona Trust Company, and had de- livered the entire assets to the sub sidiary, an action that has been held to be fraudulent by two court de- crees. Then followed the receiver ship and soon after a suit instituted bv Charles w. Clark, stockholder. a citizen of California. His suit was to compell the officers to restore to the Mutual the assets which had been 
 transferred to the trust company.
 The fact that Clark resided in California threw the case into the United States court. When Clark withdrew later, and the fight was taken up by the Arizona inter yenors.' the courts jurisdiction had been established, so the case was continued in the federal hands.
 Judge Sloan held that because there was no legal consideration toI the exchange of assets, the change was fraudulent, as far as the origin al intervenors were concerned. Some stockholders had had their stocF transferred and others had not. The intervening stockholders held Wltf Clark that the transaction was void and asked for a sale of all asset: and their own remuneration. Sloaf ordered that the assets Of the trus company be sold, as it was impossi- ble to return them to the Mutual This would have effected return O. all assets sufficient to repay the ori ginal parties, but did not take care O. the other stockholders. They wer' to get what was left. which was yer! little.
 That brings the case up to recently Sloan's decree was entered just be fore his term expired. The fedora court rule is that no decree can p attacked after the term in which l was entered, has lapsed. But tn four attorneys for the second batci of intervenors maintained that Sioal had exceeded his jurisdiction Tn en tering the decree. and on anotne provision covering this contingency got what is practically reversal portions of the decree This is de signed to give equal relief to al stockholders, whether they nav transferred their stock or not.
 Claims are now ordered to be file with Edwin F. Jones of Tucson.
 There will be much more bushes to transact before the case IS en tirely settled All of the two hun dred stockholders will have to com fin and take their chances Of sharln in the distribution of the assets. is believed that the two companle will now pay about 60 cents on tn dollar.