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In Litigation in Former Bank of Americus Case. Mr. Thornton Wheatley as receiver of the old Bank of Americus, was instructed yesterday by order of court to pay to Messrs W. P. Wallis and R. L. Mayward the sum of $500 each, as partial payment of their fees in the very lengthy litigation growing out of the collapse of that bank eight years ago. It is thought that the lengthy and intricate case may be finally wound up at the next term of court.
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PROPERTY OF AMERICUS BANK Will Be Sold at Public Outcry On 16th Inst. Mr. Thornton Wheatley as reciever for the defunct Bank of Americus advertises for sale at public outcry on November 16th certian notes and fifas, the property of said bank; also two hundred acres of land in the Fifteenth district of Sumter county. This will practically wind up the disposition of assets of the old Bank of Americus, which failed in 1892
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Magnificent and Sumptuous Scenic Production, Properties, etc Reserve seats on sale at Hudson's Drug Store. Receiver's Sale. Under and by virtue of an order of the Hon. W. N. Spence, Judge of the Superior Court of the Albany Circuit presiding in Americus, ira., Sumter county (in the absence of Hon, Z. A. Littlejohn, Judge of the Southwestern Circuit, who was disqualified) on the 19th December, 1900, will be sold before the courthouse door in the city of Americus, Sumter county, Ga, between the legal hours of sale, on the 16th day of November. 1901, certain notes and flfas which are described in a schedule this day filed in the clerk's office of Sumter county, Ga., and to be sold as the assets of the Bank of Americu, and which are held by the undersigned, T. Wheatley, Receiver of the Banz of Americus. Reference to the said list of chose-in actions is made and are there subject to inspection of any who desire to purchase the same. I also have a list of the said papers as well as the said papers in my possession and will be exhibited to any prospe tive purchaser. Said order of the court will be found in minutes "Q" pages 339 and 341. Also at the same time and place will be sold, one hundred acres of land off of the north side of lot Number 204 in the 15th district of Sumter county, Ga. All of the said chose-in actions and real estate to be sold as the property of the Bank of Americus and for the purpose of distribution. Said notes and fifas are considered by the Receiver as being insolvent or disputed. Terms of the sale will be one fourth cash and the balance of the purchase money to be paid over when the court confirms the sale; default of the payment of the balance of the cash the property will be sold subject to the risk of the purchaser as per the order of the court. T. WHEATLEY, Receiver of the Bank of Am ericus.
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Receiver of the Bank of Americus FINEST FISH AND MEATS.
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# LITIGATION OF BANK AMERICUS. Illness of Attorney Prevents Hearing Yesterday, Judge W. B, Butt, of the Chattahoochee circuit, came over from Columbus yesterday for the purpose of presiding in the hearing of some special feature of the old Bank of Americus receivership, Judge Littlejohn being disqualified. A telegram from Macon, however, announced that on account of illness Judge Miller, of counsel in this case, was unable to come to Americus at this time and the hearing was, therefore, continued.
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# JUDGE SEABROOK TO PRESIDE. In Bank Case to Be Heard Here On Monday. The special hearing in the old Bank of Americus case, to distribute certain money in the hands of the receiver of said bank, will take place tomorrow. The hearing was to have taken place on Friday last but was postponed for the time. It is expected that either Judge Seabrook or Judge Spence will preside tomorrow in this case, Judge Littlejohn being disqualified.
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THE AGREEMENT NOT RATIFIED. By Court and Bank Case Was Continued. Judge William H. Felton, of the Macon circuit, presided in Sumter superior court yesterday for Judge Littlejohn in the hearing of the case of the old-Bank of Americus. When the case was called Judge Felton was asked to ratify an agreement between counsel representing banks in Baltimore and New York, and the attorneys representing the local end of this long liti gation, whereby the three northern banks were to be relieved from payir g back into the hands of the receiver, Mr. Thornton Wheatley, the full amount received by them from the assets of the bank and which had been previously ordered returned to the receiver. Local counsel agreed that this might be done by the banks in question paying into the hands of Receiver Wheatley $5.000 and such other sums as may be required to comply with the order of the court, whereupon the sales of property, made by the trustee of the bank, might be confirmed. Judge Felton, howeyer, refused to approve the agreement thus entered into until the sales of realty, etc were first confirmed. To this counsel representing local creditors objected, and the case was continued.
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ASSETS DISTRIBUTED. Old Bank of Americas Case Finally Concluded, Americus, Ga., Nov. 28.-In the Sumter Superior Court to-day, Judge William B. Butt, presiding, the old Bank of Americus receivership case was finally disposed of in the distribution of remaining assets among preferred creditors, principally in New York and the East, though others here shared in the distribution. The Bank of Americus, capitalized at $150,000. failed ten years ago, and its affairs have since been in litigation. The depositors received little or nothing, the available assets going to preferred creditors, as stated. The Bank was to an extent associated with the old Americus Investment Company, which failed for $1,000,000 about the* same time, the collapse being the most gigantic ever known in Southwestern Georgia and sweeping away the property of hundreds of people here and elsewhere throughout the state.
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PART OF MONEY_IS READY TO BE PAID. Creditors Bank of Americus Get a Part. ELEVEN PER CENT THE AMOUNT. Apportioned Those Creditors of Bank Who Proved Their Claims-Only a Small Part of Their Losses is Thus Made Good. With the settlement of the old Bank of Americus case a day or two ago, mention of which was made by the Times-Recorder at the time, those depositers and other creditors who proved their claims during the long years of litigation will now get a portion of their money. Not a great amount it is true, but they get something. The money now in the custody of Receiver T. Wheatley is to be thus disbursed under order of the court, and creditors who proved their claims will get 11 per cent of the same. However, there is not a great number of creditors of this class. Many, it seems, did not take the precaution to assert there claims, probably thinking that the bank was hopelessly insolvent, and these, of course, cannot share in what there is left. The three northern banks having claims [against the Bank of Americus got the greater portion of what there was in the way of assets. The trial of their claims was only recently concludS ed, and this renders the settlement of the case much easier. Messrs Wallis and Maynard, to whom is due great credit for their presistent fights in behalf of the local creditors get about $7,000 in fees out of this celebrated case, as has been stated. And thus the ten years litigation is drawing to a close. The recent decree of the court settles t another important point of interest to many in Americus, and perhaps in other portions of the state. The old Bank of Americus, at the time of its collapse, owned considerable realty, including its banking house C and other property. This was aftert wards sold to various parties, but pending litigation probably caused some of them to feel uneasy as to title. The recent decree, it is understood, confirms all sales of real estate that have been made. If there is any further litigation it will be in proceedings against former stockholders of the old bank under the personal liability clause, the old bank charter making them liable to depositors, Whether or not such proceedings will be pushed remains to be seen. But at all events the long litigation begun in 1893, ten years ago, has about drawn to a close.
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at that date could thus be held liable for the debts of the defunct bank. It was further held that the judgment obtained heretofore by creditors against the old Bank of Americus was not a good judgment against the stockholders, but that the creditors in this suit must set forth fully their claim just as though it had never been sued. The effect of this is that as the suit against the stockholders was not filed until ten years after the receivership of the old bank nearly all the claims are barred. If this ruling is held good by the supreme court there will be very few debts in date for which any stockholders could be held liable. The case is the most important heard in Sumter county for years, for a large sum, possibly a hundred thousand dollars, was involved. The defendants, stockholders of the past twenty years, are scattered throughout the United States though, principally residents of Georgia.