The Alaska citizen., 1915-04-26
WA. Bank Depositors May be Repaid Moves Explains Plan to Regain Funds

SJop,uut Is the statement made by r G Noyes. the receiver, in a peti- ton filed ln the clerks office by h.w lest saturday tn which the court .s asked to confirm the selection of Feruand de Journcl as the new attorney for the reCeiyership and ia w.ICh permission is asked 10 commence legal actions Co recover the money remaining due the bank
 Mir. de jouruel has been making 'nNestisafionS in the affairs of the bank and the result of these, as outlined iH the petition filed with the court has assured him that the consolidation of the Washington Alaska bank Oi Nevada. which is the oilciEal institution involved in the rectNer-hip. and the Washington . Alaska ,aak Cf Washington was not legal Therefore. he asserts that the money paid 10 the stockholders ! ot te NasaingtoH-Alaska bank of Nashineton. iu the form of diyi- deud-. dI not belong to them. and can be resaineJ by proper legal action. Also. that the depositors of the two banks were not entitled to the same proportion of dividends
 The amount of money now in the ! hands Of MT Moves belonging to !. its creditors, as well as other fea ! lures of the condition of the receiv- ership, IS described in the petition filed ty Mir Moves Saturday, which was as follows:
 THE PETITION.
 Comes now r. q. Noyes the duly !. appointed receiver of the defendant ! corporation herein, and being first duly sworn. deposes and says:
 That the defendant corpora . ton herein became iusoNent. sus- . pended payment and closed it's doors . On tLe 4Ju day of January 1911, ! and the statement of its affairs at ' that tune disclosed liabilities amount . ing 10 about tEe same amount.
 That the said assets were part . ly fictitious and the sum of fifty ! cents on the dollar is the only , amount so far paid to the creditors . of said corporation. and there is . still due and owing to the creditors . of said corporation a sum in excess , of S550 000 and the only available | assets on hand to pay and liquidate 1 said claims are about 5000 in . cash and $20,00O in real estate and . personal property subject however to certain claims here matter men toned. and as the affairs and ac-
  stand there will be a deficit Of about $500 coo after tie assets are fully distributed and the expenses of . liquidatien paid off
 TRUST DEED GIVEN
 Shat on or about March 18th . 1911, F. r. Bar1ette and Isabelle . Baruette conveyed by trust deed to the receivers of the defendant cor poration certain land in Mexico, but . that the said L. T. Banette and Isabelle Barnette have now entered . actions to set aside the said trust deed and 10 obtain an accounting from the receiver which said ac- tions have not as yet been deter mined, That in the event of the said E. T. Barnette and Isabelle Barnette being successful in said actions, the estate will lose, besides the land involved therein, the furth- er sum of 3O000, or thereabouts, collected on account of the other similar trust properties situate in Fairbanks recording district, that the state of the government and of the control of property by the civil . authorities in Mexico at the present time is such, that nothing can be reeli7eG oul uf the said Mexican
 
 that under the best of conditions, and after the government and civil authorities regulate the control, it is my opinion based upon valuation and report made to me thereon. that no more than $1S0000 can be real ized for Sue. out of which must be deducted the costs of sale and other costs connected herewith.
 4.--That two receivers of the as sets of the defendant corporation Were appointed prior to the appoint ment of the petitioner, and during the receivership Of these three re- ceivers. various counsel and attor neys were appointed by three Hon. oIable Judges, who passed upon the matters connected with Il is receiv ership.
 INVESTIGATES STOCK.
 5,-That under the direction and order of the Honorable Judge Mu- rene who was then Judge of the Fourth judicial division, Territory Of Alaska, 1 went to Seattle to in vestigate the state of affairs regard ing the Gold Bar Lumber company involving a $341 coo asset of the de fendapt corporation, and thereafter, the petitioner herein also obtained | leave to proceed to the outside for the purpose of attending to certain | action entered by the Dexter Hor- ton National bank of Seattle, against l the corporation for the foreclosure and sale of the said Cold Bar Lum Der company stock, which, as the | bank alleges, was placed in their hands as. collateral security; also for the purpose of having valued, that certain property situate in the Re public of Mexico, being the tract of | land deeded in trust by l.. T. Bar nette and Isabelle Barnette to the receivership as hereinbefore men toned that there is also now pend ing a case in appeal from this Hon. orable Court to the Ninth Circuit Court of Appeals Cease no. l756) 1 which also required my attention;
 RIDER RESIGNS.
 6.-That after said matters had . been attended to by the said peti- ! tioner, he called upon MT. Rider in St. Louis who was heretofore the . attorney appointed by the Court, and . WAS then informed by the said Rider | that he did not intend to return to ] Alaska. and that he had been dis 1 pensed from so returning by the i Honorable Judge F. E. Fuller and l that an order had been granted to | him to that effect, which said order | he presented to the petitioner; and |