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$4,224,810. "Assets" Declared Worthless. (St. Louis Post-Dispatch.) Book values, or so-called assets, of the Bankers' Trust Co., to the amount of $4,224,810, are declared worthless by Francis E. Williams, receiver of the company, who has recommended, in a report to the Circuit Court, that they be stricken from the record of the company's resources. The largest item in the proposed reduction is the cutting of $3,949,000, the valuation of bonds held by the company, to $1,000,000. The value of real estate, it is stated, should be shown as $59,557,73, instead of $130,138.74. A reduction of about onehalf in the book value of stocks held by the company, which appeared as $955,677.50, is also declared necessary. Other items which it is sought to charge off are $719,623.33, as bills receivable, and overdrafts, cash items and judgments, comparatively small amounts. The Bankers' Trust Co. has been in a receiver's hands since 1914. Leon W. Quick, who was made receiver at that time, killed himself last July. Williams was at that time serving as co-receiver, and has since been in charge as receiver. W. L. Sturdevant, attorney for the receiver, said today: "Since the receivership began the receiver has liquidated more than $3,000,000 of indebtedness. The actual claims do not now greatly exceed $150,000. The report shows a cash balance of $33,370 76 on hand. "The matters to be charged off are not assets, bnt book valuations. The The receiver's report does not show some live and promising assets of the company, one of these being a $43,000 judgment, which is a lien on the Cross-S ranch in Texas, a valuable estate. "The Bankers' Trust Co. also owns between 9000 and 10,000 acres of land in McMullen and Atacosa counties, Texas. At present the oil prospects in the vicinity of the Atacosa county land are considered very good and S the land has a high potential value." e The receiver's report says that the y book values, as now appearing, are t a hindrance and an incumbrance. It a is also stated that Qulck's death has caused confusion as to some details o which have not yet been fully adjustf ed.
