Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-01-09
STATE OF MAINE

KENNEBEC. ss-Supreme Judicial
Court. in Equity.
Fred f. Lawrence, Bank Commission
er, VS.. Cascade Savings Bank.
BILL IN EQUITY
To Honorable Leslie C. Cornish. Chief
Justice Of the Supreme Judicial
Court:
Respectfully represents Fred F. Law
renee of Skowhegan. in the County OF
Commissioner of said State. and COM
plains against the Cascade Savings
Bank. a corporation duly existing un-
der the laws of said State relating to
in the County of Kennebec, and says:
First: The plaintiff is the duly ap-
pointed and legally qualified Bank Com
missioner of the State of Maine.
Second: The defendant is. and since
May Z. 1869. has been banking cor
poration engaged in the TRANSACTION
of savings bank business at Oak.
land in the County of Kennebec in said
State, and as such amenable to the
Laws of this State duly enacted for
the regulation and control of such in
situations.
Third: The plaintiff. upon examina-
tion of said defendant corporation as
required by law. is of the opinion that
it is insoivent and that its condition
is such as to render it's further pro-
ceedings hazardous to the pubic and
TO those having funds in its custody;
WHEREFORE the plaintiff prays:
I. That this court. upon presenta-
tion of this bill in equity. will issue
temporary injunction or restraining
order to restrain said defendant bank
in whole or in part from proceeding
further with the transaction OF its
business until hearing can be had.
2. That after a full hearing of the
sal ,,,S,, no
made perpetual or modified as circum-
stances may require.
8. That said Cascade Savings Bank
may be decreed to be insolvent and its
condition decreed to be such as to
render it's further proceedings hazard
Gus to the public and to these having
funds in its custody.
4. That this court will appoint one
or more receivers or trustees to take
possession of its property and effects,
subject to such rules and orders as
may be from time to time prescribed.
5. That this court will make and
issue such further orders and DEGREES
in the premises as seem proper for
liGuidating the affairs of said bank.
the distribution Of its assets and the
protection of its depositors.
6. That the Court will grant such
other and further relief in the prem
Uses as the nature of the case may re-
Quire.
Court to grant the plaintiff its writ
of injunction directed against the said
Cascade Savings Bank to restrain it
and its officers. servants and agentS
from the further prosecution of its
business as savings bank under the
laws of this State. and also issue its
writ of subpoena to said defendant
commanding it to appear before this
court and answer to this bill of COM
plant at the February rules following
n "a NJ M
court thereon.
FRED F. LAWRENCE.
Bank Commissioner of the State of
STATE OF MAINE
KENNEBEC. SIS. January ). 1924.
Then personally appeared the above
named Fred T.. Lawrence and made
cath that he has read the above bill
and knows the contents thereof and
that the same is true of his own knowl-
edge.
HERBERT w. TRAFTON.
Justice of the Peace.
> STATE OF MAINE
Supreme Judicial Court in Vacation.
Upon the foregoing petition, it is
hereby
ORDERED
That a hearing be held at the Court
House in Augusta. in the County of
kcnnebec. 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 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.
newspaper printed and published at
Augusta. in the County of Kennebec,
and in the Waterville Sentinel. a news
paper printed and published in Water
vile, in the County of Kennchec. said
publication in each of said newspapers
to be for three successive days, the last
day to be at least seven days prior to
said January II. 1924. that all per-
sons interested may then and there APP
pear and be heard relative to the alle-
cations of said application. if they see
st: 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 it's 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 G. CORNISH
Chief Justice. Supreme judicial Court.
A true copy of petition and order of
court thereon:
Attest: c. w. JONES,
jan7G2t Clerk.
one particularly large item in the manu-