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RECOVERS $67,500.00. A Compromise Effected Between As= signee McCurdy of Colorado State Bank and Stockholders of Sugar Company. Depositors Rejoice at Good News of Coming Dividend. If it isn't good news it ought to be that a compromise has been effected between Wililam McCurdy. assignee of the defunct Colorado State bank and the stockholders of the Colorado Sugar Manufacturing company, whereby there has been turned over to William McCurdy the sum of $30,000 in cash and $75,000 worth of the stock of the newly organized sugar company, in lieu of 3800 acres of land and all the holdings of the Colorado State Bank, against the sugar company. It has been further agreed by the present owners of the Sugar plant that they will take at any time during the year, if the assignee of the bank so desires, the $75,000.00 worth of stock of the company held by the assignee and as part of this consideration, for 50 cents on the dollar. If Assignee McCurdy should desire to accept the promise of 50 cents on the dollar for the stock, he would be able to secure for the stockholders of the bank all told from this deal, $67,500.00 or almost enough to pay dollar for dollar on the deposits of the bank. This compromise which Assignee McCurdy has effected with the principal stockholders of the Sugar company, was secured through the tact and discretion of a certain gentleman of this city, who will be named at some future period and to whom credit is due for urging a suit against the stockholders of the Sugar company to protect the rights of the bank. The suit, however, was not brought, but a threat to sue led up to the compromise which has brought to the assignee of the bank this great sum of money, amounting to $30,000 in cash immediately and another $37,500 in cash, if the assignee agrees to accept the new company's offer for the stock. This compromise was a splendid one for the depositors of the bank. For a time it did not look as it they would realize much more than the dividend already declared. Now it is certain that a goodly portion of the money that the depositors had in the bank will in time come back to them. The 3,800 acres of land was practically valueless to the bank as an asset. In the hands of the Suagr company it can be made to earn something in raising beets. The consummation of this compromise is to be heralded with much pleasure to the depositors. They can see in securing that amount of money another dividend on their deposits. The new company which has effected this compromise is composed of some of the stockholder in the old company and Judge Alfred Hand of Scranton, Penn. It will be remembered that it was exclusively published in this paper several weeks ago, that Judge Hand had become largely interested in the Suagr company. It was alsostated that the factory would be run the present year. The Sentinel is informed that it was hoped to effect the present compromise sooner, in order to attempt to start the factory in operation this year, but as this was delayed all that can be done is to make thorough preparation for the work next year. This will be done at once.
