The Waterbury Democrat., 1935-09-24
,$25, 900 Fee Giuen
 To Bank Receiuer
(Continued from Page l)'

happens that l nave naQ COnSlQeT- able personal contact with this re- ceivership.' I feel that 1t has been handled with energy, originality, in- dustry and success. In view of the distressed condition of the country in general and of Waterbury in particular at the time of closing. 1t does not seem possible that the af- fairs of the bank could be as fully and well liquidated as their final re- port indicates.
 Other considerations arc briefly referred to. The tone of the coun- try at the time of closing was hys- terical. No less than five Connec- ticut banks were closed in this same month. The duration of the task was certainly not anticipated
 nor was it's Magnitude appreciated. Because of its resignation as re- ceiver there has been no oppor- tunity to appraise the final outcome of the affair.
 On the whole, it seems to me that the application should be granted. Had it had the opportunity to com plete its work, should feel, as did Judge Cornell. that the decision should await that event. Its work is now over, however, and is to be taken over by different agency. It should receive some compensa- ton.
 The question of amount Is most difficult. The receiver has request ed $57,O00. based on one per cent of the assets coming into its hands for administrations. (See General Statutes Section 3937, since re- pealed.) Its officers feel very con- fident that if they were allowed to would be able to pay one hundred per cent to depositors. If they had succeeded in doing this, the fee asked would not be unreasonable in view of the extent and character of the services rendered. The de- positors strenuously object to any fee for the reasons set forth above. The outcome of the liquidation Is uncertain. It is clear case for compromise due to changed and |unanticipated conditions over which the receiver had no control. l find that, under the circumstances, $25,- 900. is a reasonable fec and that amount is allowed. The amount is only one and one quarter per cent of the remaining assets and, while it will certainly not fully compen- sate the receiver, will materially assist in taking care of the over head expense, not included in the amount paid for reimbursement. In addition to requesting fee for services the receiver has requested the allowance of its ordinary ac- count for reimbursement for sums paid to its officers and employees engaged on the work of the re- ceivership. This motion is also granted.
 Motion by Attorneys for Compensation
 The attorneys for the receiver have also requested compensation for the completion of their ser- vices. Judge Reeves, whose place they took. received $35,O00. and they suggest for reasons stated in their brief that they should re- | ceive an equal amount.
 I have always felt and believe
 that have demonstrated 1t by my ruling on such motions during the ast i've years, that attorneys should receive fair compensation for the
 very difficult work involved in re-
 ceiverships of this character. When
 so many of our Connecticut banks
 were folding up the whole proposi-
 ton was new to Connecticut and
 very difficult legal questions were involved. The law with reference
 to this type of litigation. while not
 entirely settled, has however been
 greatly clarified by numerous Su- preme Court decisions and the work
 now Is of e much more routine
 character than 1t was at the outset | five years ago. As stated before. am quite familiar with this re- ceivership and know the numerous and difficult questions which faced the receiver and its counsel during the first year or two. Since then,
 while the work has been difficult. the legal questions arising have
 been neither so numerous nor so intricate. It may be true as claimed
 by present counsel. that the large number of compromises completed
 ln this estate have involved more detailed work then devolved on
 Judge Reeves but it certainly was of n more routine character. with
 the possible exception of the work
 involved In final closing. This N apparent from an examination Of
 Inc detailed statement of services ] irenderod by present counsel. I ale