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FEE OF RECEIVER IS DENIED Twenty Thousand Dollars to H. T. Clarke Knocked Out by Munger. ORDER OF YEARS AGO IS ANNULLED Such is the Import of an Opinion from Federal Bench in Old Union Trust Company Case. : Judge W. H. Munger handed down a memorandum opinion Thursday morning bearing upon the failure of the Union Trust company of Omaha eight or ten years ago, particularly as pertains to the compensation allowed the receiver, Henry T. Clarke, $20,000 to the date of closing up the affairs of the company, and for the allowance of the claims of other parties. This order was granted and entered in the United States circuit court June 20, 1899, and is now set aside, and certain other claims affirmed. The case is that of Henry Fielding, one of the stockholders of the company, against the Union Trust company, and was submitted on an application to vacate the order allowing the receiver (H. T. Clarke) $20,000 as compensation to the date of June 20, 1899, and for the allowance of claims of certain other parties. The basis of the application to vacate the order was that It could not have the force and effect of a final order without notice to the defendants. No Record of Such Notice. It does not appear in the record that such legal notice was ever given the trust company. The receiver thus appointed was the president of the trust company, the claims was his own, was presented for his services, and he was a party adverse to the trust company. J. B. Piper, another of the claimants, was a director of the company, was present and had knowledge of the hearing. Piper had acted as manager of the company before the receivership, and all parties represented, it is brought out, were interested in having a large compensation awarded the receiver, sufficient to cover any possible liability or assessment on their stock. In his opinion Judge Munger says: I am of the opinion the compensation allowed the receiver was excessive. At the time of his appointment the company was liable to the approximate amount of $800,000 upon mortgages which it had negotiated and guaranteed. also upon debenture bonds approximating $60,000, to secure which collateral in the shape of real estate mortgages had been deposited with a trustee. No new business has been transacted since the receivership, the business as conducted being in arranging with parties representing the holders of the mortgages guaranteed to take the mortgaged property and their mortgages In liquidation of the obligatins of the company as guaranteed, and the holders of the debenture bonds were in like manner paid by accepting property in discharge of such bonds. For the foregoing reasons the order allowing the receivership will be vacated and set aside. The question now under consideration was. Did the receiver before his appointment induce members of the board of dlrectors to recommend his appointment as receiver? After two years I have read carefully all the records pertaining to the case and given It the utmost consideration, and from it the conclusion is Irresistibly reached that the consent of Mr. George Barker and Mr. Erastus Benson to the receiver's appointment and going on his bond as such were. because of representations made by him to induce them to believe, and they did believe if he was appointed that he would ask no compensation. Both say that he told them so, but this the receiver denies. It follows from these conclusions that no compensation will be awarded Mr. Clark as receiver. Some Claims Allowed. The decision allows the claims of the S Commercial National bank of $290, W. G. Maul for $250, George Barker for $850 and S Erastus A. Benson for $100; also the claims of W. G. Maul, E. A. Benson and George Barker on certain debenture bonds bought by them in December, 1900, and September, 1901, subsequent to the receivership, for 13 cents on the dollar, for their full face value. The claim of J. W. Carr as attorney for $1,000 and of Joseph B. Piper for services to receiver for $1,250 are also allowed. Until certain securities belonging to the C Union Trust company on deposit with the Central Trust company of New York for S the security of the debenture bonds and n their value is established, the court is unable to determine what assessment should be made on the stockholders. The order further directs that the attora neys shall prepare the proper findings in accord with the opinion and provide for non tice by advertisement for all creditors to present their claims or be forever barred, d and submit the same to the court Apr'l 1. Proper will noted