Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1915-02-06
Roy Hoffman and Harry
PantecOst Make Pur-
chase of $4,000.
SANITARIUM CONTROL
Buyers Will Give State OPP
ton to Take Over
Norman Property.

Special VO The World.
OKLAHOMA CITY, Feb. s-Upon
order Of the comptroller Of the United
states treasurer all the stock owned
or controlled by the receiver Of the
defunct Capitol National bank of
Guthrie In the oklahoma Sanitarium
company amounting 10 $39.5OO was
SOFA today at Chandler az public auc-
,ion' Inc stock was purchased by
colonel Roy Hoffman of Chandler and
Harry w. PCnteCoSt of this Citv. ac-
cording to information received here.
for $4,000.
The sale was made after the state of
oklahoma. through action OF sub
committee of the senate public build
ing committee, had secured an option
10 purchase the stock from the new
owners AZ the same price which they
pald Tor II, the option to hold good for
thirty days after date Of sale. Mem
berS or the subcommittee will go 10
Norman. where The property OF the
oklahoma Sanitarium company IL lo-
Gated, and make Il thorough investi-
cation into the value OF all the prop
erty of the company 10 determine If il
is worth the proposed purchase price
and equipment Of the oklahoma SAN.
itarnum for the Insane at Norman,
with which the state has a contract
/ 10 keep insane patients at $500 a year
each. These contracts have been rec
neWed each year by the state or ter
ritoTial government for many years.
Tho property is the chief asset OF the
Capitol National bank and the rev.
enues from It have enabled the re-
ceiyers to pay 81 per cent Of the de-
posits, which We're In the Capitol Ma
tional bank at the time 1t failed.
Comptroller Controlled Stock
The total amount OF stock Of the
sanitarium company is about $4,000.
approximately $4,000 Of this amount
is In the hands of private owners. The
| balance has been owned and con.
| trOlled by the receiver Of the defunct
Capitol National bank, acting as the
agent OF the comptroller Of the cur
renCyo
The comptroller ordered the dis
posal Of the stock OF the receiver at
auction at not less than $4,000
This Is a sufficient amount TO pay all
| OF the depositors and other creditors
OF the defunct Capitol National bank
of Guthrie dollar for dollar and 10
per cent additional Us interest on
| their money.
The subcommittee Of the senate.
which has secured the thirty-day
! option on the sanitarium property, is
composed of Senators M $. Blassin.
game of Sallisaws $. w. Hogan OF
: fCashion and Charles T. Barrett of
| Shawnee. If the state exercises It's
opinion to buy II is to pay the new
on-nors 6 per cent interest for the
uga of their money for the time eXs
..rlrg between date Of their purchase
and date Of sale to the state. The new
purchasers agree to sell without any
advance in the price over that which
they paid for the property
No Recommendation
The senate committee on public
| buildings will make no recommends
| tions for purchase of the property
unless they find 1t IS worth the
money. II they make such finding an
! appropriation bill probably will be
| introduced providing for the pur-
chase. In case the state does not buy
! II will probably renew It's contract
with the sanitarium company as
operated under the new owners.
| a resolution by Representative Ew-
! Ing Of Logan county passed the house
! TO investigate the Oklahoma sanitar'
ium company. II has been In the
! hands Of senate standing committee
however since January 23 and no re-
port has been made upon it,