Putnam patriot., 1924-09-19

all probability be returned to the stockholders.
 Recover on Doubtful Loans
 Another reason why the sentiment $ entertained that the loo per cent as seSsment will not be required, event ually, in making up the losses. is the savage t k believed possible on the so-called worthless loans or loans that z~e of doubtful valle. The total Of these loans is stated to amount to sz0u .UvU. Those m position tO know are of the belief that fifty per cent Of this total of so-called bad loans is pos able of collection. In other words, sI30.e00 may be salvaged from that sort of paper. If Receiver Coffin Is successful to this degree, the sum of hs lahors would be equal to the es- timated receipts of the 100 per cent assessment.
 Counteracting this favorable con i ton. if it really should develop, IS the fact that Gilpatrie's personal cred tors may file claims for a total equal to the salvage possible on the bad la 4ns he made in the name Of the bank. Gilpatrie is personally respon- sible for the shortages in the Gardner and Cutler estates These amount to d least S55.00O. To allow for addion- al claims. vet Co be filed, Mir. Gilpat- ric's attorney places his liabilities at s100 coo l. is not believed that they VII reach any such figure, but to be on the safe side. this sum Is estimated.
 Though the salvage from the loans is balanced pro rata by the loss through Gilpatric's personal liabilities. there is one more hopeful aspect Of the situation, and it is again MT. ! Morse who states the case. IL IS ofh- ciallv stated that recovery on Gilpat- ric's estate is estimated now at Szbu,- 06O. but Mir. Morse believes it wholly within the realm of possibility that the salvage may 20 as high as S3OO,0ou to even S35O, GOO. At the top figure, then is an increased estimate Of SyO,OOo which may be raised 10 offset the losses at fhe bank and to Gilpatric's personal creditors. This S90.000 of course. fl it ig eventually collected, will go to rfdacing the losses to Gilpatric's per sonal creditors and the 100 per cent aesesxmant levied on stockholders ot the bank.
 Altogether the situation IS about as had las it could possibly be. yet there are these several possibilities which brighten the aspect of things generally and make the outlook a shade more hopeful for stockholders.
 confdcn, Concerning DePesi'ors
 As far as derositors are concerned, there has been apparently practically no doubt sll along that they would re- ceive all of their money back again, Tint they will receive a substantial dividend, representing good percent are If their balances with the bank, within a comparatively short tlme' is the prevailing belief. And these de aositors join in saying; "fhe sooner the better. More power to Receiver Coffin
 Comptroller Dawes has authorized Receiver Coffin to make demand upon the stockholders, Ia his name, for an assessment of 100 per cent on each share of stock each individual owns tor controls. There are 800 out standing shares. and normally the rev enue would amount 10 si580oo. Not much more than SlOe 900 is expected Id te received. Receiver Coffin is au- ,h0rized by the Comptroller Co permit Stockholders to meet their assessment In four monthly iustallments of 2a ner cent each of their individual as- easements. The first installment i'