The Alaska citizen., 1915-05-03

ideal for Mir de Jou-n.l vho would have everything to gain. and Lothins
 O lose. and as for dr Noyes u
 would 20 an that he would be k"nt c. a good pension :l no work for long time To come.
 The plan outlined by Mir Noyes
 for commencing litigation for the
 recovery of money from those inter
 ested in the Washington-Alaska bank
 of Washington. would promise bet
 ter returns to E. T. BaTncttc than
 it would to the depositors of the
 bank Mr Barnette has given
 trust deed to the depositors of
 the bank for considerable property
 10 insure the recovery of their
 losses. But if that property Is sold,
 the depositors get only such amount
 as is still due them at the time the
 property is sold.
 Thus If il should be possible for
 MT de Jourael to recover some of
 the money paid to various people,
 the result would be that MT. Bar nette would receive the surplus The continued litigation proposed by MT de Journel and Mir. Moves would aid MT Barnette in another way. for it would have a tendency to increase the value of the Mexican property included in the trust deed to the depositors. If the Mexican property is not sold until peace is restored in Mexico. it will probably due the depositors for there are IS 900 acres of valuable land in it.
 In this way, Mir Barnette would probably realize a half million dol
 lars in surplus money that would be returned to him after the sale MOVES IS INCOMPETENT. In the light of past events it is quite certain that MT. Moves would make the blunders in the proposed | litigation that he has in all that ! he has done in the past The Citizen has stood by the depositors ! in their fight against Moves, and ! it sees no reason for changing now. Mir. Noyes never was fitted for the position of receiver. and his accounts show that it is costing as much to maintain him in his present posi- tion as he is collecting for the de positors, not taking into considera- i ton the property he is selling. Some of the reasons why Mr. Moves should not be retained were outlined in the petition of more ! than 100 depositors of the bank filed with the court several months ago. in which the following ap- pears:
 "1-That We feel that all the duties 1 of the receiver can be performed 1 by one competent man, and that F. l c. Moves, the present receiver. IS not a fit or capable person to act as receiver for the reason that he l is not possessed of the requisite ! luuSillFHl. rHtI tlG! ltdl dbIiltt and tact he is unpopular. and on 1 that account tamong others) can not obtain Information as to prop erty owned by the debtors Of said l bank and that could be realized up on; that he does not devote his l time and attention 10 the duties of ,bo I,,t rn nj h CTS, thereby mourning great and un necessary expense, and particularly ! do We feel that the said Moves is culpably negligent in his duties in l leaving Fairbanks since the Sth day 1 of July 1913. the most available l time for the receiver to realize on | the banks assets
 MOVES IS EXTENSIVE.
 "2.-That the report of the receiv- | CT shows that the expenses of the receivership are eXtravagant and that a competent and capable person could have administered the receiy- ership at half the cost of the pres
 ent receivership: that from the re port filed by F. G. Moves 1t appears that during his incumbency the eX pense of his office has amounted
 to more than 42,000, without count ing earned but unpaid salaries of
 receiver and attorneys and other assistants, which will probably amount to a sum in excess of 10000 mak ing a total expense of the receiver ship of 24 and one-half months of more than s50,000
 "3-That said receiver has failed to collect assets of the bank that
 for the past two years have been
 and are now collectible, and has seemingly exercised no effort to do so, or to gather in. collect and dis
 pose of mortgaged property given
 to secure unpaid notes"
 The petition from which the fore
 going was taken is now a matter
 of record in the federal building.
 and speaks for itself Since that pc
 tition was filed, new reasons have
 been presented to prove that Noye.
 is an expensive and incompetent re
 ceiver.
 Among other things, he sold at