Click image to open full size in new tab
Article Text
INSOLVENT BANK TO PAY 15 PER CENT DIVIDEND TODAY notes, in the possession of said ReAn order for the payment of diviceiver, due from said depositors to dends was issued yesterday aftersaid Bank at the time a Receiver noon by Judge Bunnell to the rewas placed in charge thereof, and ceiver of the American Bank of Althat no order has as yet been made aska, which closed its doors on the relative to said set-off, and it fur27th of August A Bruning, the ther appearing to this Court that receiver presented a petition to the certain claims have been presented court setting forth the fact that the to the Receiver, not shown by the liabilities of the bank were $136. books of said Bank, and that have 855.35 as shown by the books of that not been allowed by this Court as bank and that the other outstand claims against said Bank, and the ing liabilities would not exceed Court being fully advised in the $1,500; that he had in his possespremises and being satisfied that sion cash exclusive of the cash due there are sufficient funds on hand from other banks, amounting to the to pay a dividend of fifteen per cent sum of $19,500; that he therefore upon all claims due from the Amhad on hand sufficient money to pay erican Bank of Alaska to the varioff 15 per cent dividends ous creditors of said Bank concernThe bank and its attorneys have drawn up a form of certificate to be ing whose accounts there is no disused in making the payment of divipute: dends. The face of the certificate Now. therefore, it is ordered, adreads: "This is to certify that John judged. and decreed that the said Doe has money in the American Receiver be, and he is, hereby orBank amounting to the sum of dered and directed to pay to the is cents." and Dollars and creditors of the American Bank of signed by the bank officials and reAlaska, as the same appear upon ceiver When the first dividend is the books of said Bank, subject to paid, the amount and date will be the reservations hereinafter made, a stamped on the back of the certifidividend of fifteen per cent of the cate With this certificate it will amount of their said claims, reservbe possible for anyone to transfer ing, however, from said dividend. his claims without confusion by simany payment on any claim against ply placing his signature under the said Bank which claim may be offstamped amount and date. This cerset against notes held by the Retificate must be presented at each ceiver. as such, which notes are payment of dividends, for no funds payable to the American Bank of will be given out without it. Alaska, and reserving therefrom any Effort will be made to collect all payment on any claim not shown funds due and owing to the bank by the books of the American Bank as soon as possible, and as soon as of Alaska to be a legitimate claim the money can be secured the sec against said Bank, but which may ond dividend will be forthcoming have been presented against said The order issued by Judge Bunnell Bank and not allowed by this Court: is as follows: Be it further ordered that, if In the District Court for the Terriany order is hereafter made by this tory of Alaska, Fourth Division. Court allowing any claims against Territory of Alaska, upon relation of said Bank, said dividend be paid the Territorial Banking Department upon said claims SO allowed by this of Alaska, Plaintiff, Court, after said order of allowance VS. shall have been duly made and enThe American Bank of Alaska, a tered; corporation, Defendant. Be it further ordered that, if this No. 2339. Court hereafter makes an order apORDER FOR PAYMENT OF DIVI. plying certain deposits of certain DEND creditors of said Bank upon their The above matter coming on for notes due to said Bank or upon overhearing upon the verified petition of drafts, if any balance of said dethe Receiver of the American Bank positors' accounts remains to their of Alaska for authority to declare credit. the dividend shall be paid and pay a dividend to the creditors by said Receiver upon said balance of said Bank, now under ReceiverSO remaining after such set-off has ship. and it appearing to the satisbeen made: faction of this Court that there is And be it further ordered that sufficient money on hand to enable said Receiver take receipts from all the payment of a dividend of fifteen creditors to whom payments are per cent of all the claims against made, for the amount paid as such said estate, as the same appear upon the books of said Bank, or that are dividend, which receipts shall des ignate the number of the dividend, likely to be presented against said in addition to the amount received Bank, and it further appearing to by the creditor thereon. this Court that there is now pending Done at Fairbanks, Alaska, this before this Court a petition on the sixteenth day of October, A. D. one part of the Receiver, to set off certhousand nine hundred seventeen. tain deposits - to the credit of certain creditors of said Bank (Signed) CHARLES E. BUNNELL, District Judge. against their overdue promissory
