Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-01-08
STATE OF MAINE
Judicial
KENNEBEC, ss-Supreme Judiefal
Court. in Equity.

KENNEBEC, ss-Supreme JucicGl
Court, in Equity.
Fred F. Lawrence, Bank Commission
err, vs. Cascade Savings Bank.
BILL IN EQUITY
To Honorable Leslie c. Cornish, Chief
Justice of the Supreme Judlclal
Court:
Respectfully represents Fred f. Law.
renee of SkowheSan, in the county o.
Somerset and State of Maine, Bank
Commissioner of said state, and COM
plains against the Cascade SaVllBs
Bank, n corporation duly eXlStlne u!l-
der the laws of said state rclatlns 10
savings banks, and located at oakland
in the County of Kenncbec,. and says:
First: The plaintiff is. the duly APP
pointed and legally qualified Bank Com
missioner of the State of Maine.
Second: The defendant is. ana since
Nav Z, 1869, has been a banking cor
poration engared in the TRANSACTION
Of a savings bank business at OAK,
land in the county of Kennebec IN salu
state, and as such amenabie 10 ire
Laws of this State duly enacted Tor
the regulation and control OF SUCH III
Third: The plaintiff. upon examina-
ton of said defendant corporation as
required by law, is of the opinion mat
IL is insolvent and that it's CONDITION
is such as to render its further pro-
ceedings hazardous to the pubic ana
TO those having funds in its CUSTODY
WHEREFORE the plaintiff prays:
]. That this court. upon prescnta-
ton Of this bill in equity. will issue
Temporary Injunction or restraining
order to restrain said defendant hank
in whole or in part from proceeding
further with the transaction OF It's
business until hearing can ne hsu.
2. That after a full hearing of the
CORPORATION said injunction may he
made perpetual or modified as circum-
stances may require.
& That said Cascade Savings Bank
may be decreed to be insoirent ana US
condition decrecd to be such ?s TO
render it's further proceedings hazard
Gus to the public and to these having
funds in its custody.
q. That this court will appoint one
or more receivers or trustees to take
possession Of it's property and effects,
subject to such rules and orders as
may he from time to time prescribed.
5. That this court will make and
issue such further orders and DEGREES
liqudating the affairs of said bank.
the distribution of it's assets and the
prot lection of its depositors.
6. That the Court will grant such
other and further relief in the prem
iscs as the nature of the case may re-
quire.
And may it please this Honorable
Court to grart the plaintiff its writ
of injunction directed against the SAID
Cascade Savings Bank to restrain it
and its officers. servants end accents
from the further prosecution or It's
business as a savings bank under the
laws of this state. and also issue its
writ of subpoena to said defendant
commanding ii to aprear before this
court. ard answer to this bill OF COM
plant at the February rules following
and abide the orders and DEGREES OF
FRED F. LAWRENCE
Bark Commissioner Of the state oil
STATE OF MAINE
K CNNEBEC. SIS January 5. 1924.
Then personally appesr'1d the above
named Fred i. Lawrence and made
cath that he has read the above bllI
and knows the contents thereof and
that the same is true of his own knowl-
edge
Before me,
HERBERT w. TRAFTON.
Justice of the Peace.
STATE OF MAINE
Supreme Judicial Court in Vacation.
Upon the foregoing petition. it is
hereby
ORDERED
That hearing be held at the Court
House in Augusta. in the County OF
kennebec. on Thursday, January II.
1924. at ten O'Clock in the forenoon.
and that notice thereof be given to the
defendant Cascade Savings Bank by
giving in hand to its clerk and treas
urer a true and attested copy of the
foregoing application and of this order
of Court thereon. at least seven days
prior to said 18th day of January and
that public notice thereof be given by
publication in the Kennebec Journal.
a newspaper printed and published at
Augusta. in the County of Kennebec.
and in the WaterviIle Sentinel. news
paper printed am Nrhiished in Water
vile. in the Coz IF kennebec. said
publication in G said newspapers
TO be for three sive days. the last
day to be at leas, wen days prior to
said January IL 1924. that all per-
sons interested may then and there ap-
pear and be heard relative to the alle-
cations of said application. IL they see
fit: and that until said hearing and fur
Their order of court. said Cascade Saw
ings Bank and its officers and agents
be wholly restrained from making fur
Their payments to its depositors or
transacting any business.
Given under my hand and the seal
of said Court, this fifth day of jan
uary. A. d. 1924.
LESLIE C. CORNISH,
Chief Justice. Supreme Judicial Court.
true copy of petition and order Of
court thereon:
Attest: C. ~, JONES.