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# ALLEMANNIA BANK REPORT. Receiver Hunt Asks Court to Limit Time for Filing Claims. W. F. Hunt, as receiver of the Alle- mannia bank, yesterday filed a statement of resources and a request that the court grant an order limiting the time for creditors to file claims against the institution. The balance sheet shows: Liabilities.
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# Allemannia Bank Assets. Judge Jaggard yesterday issued an order to creditors of the Allemannia bank to show cause why a general order should not be issued authorizing the court to grant ex parte orders confirming sales, adjustments, and generally the official acts of the receiver. This is to save service of separate notice to creditors on each sale of assets by the receiver, which would greatly increase the expense and eat up the dividends.
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A LIMIT ASSESSMENT. Judge Otis of St. Paul yesterday issued an order to Receiver Hunt, ordering an assessment of 100 per cent against the holdings of the stockholders of the defunct Allemannia bank in St. Paul. The present assets of the bank are $17,500. The liabilities amount to $77,000, of which $5,000 in claims has been disallowed. The assessment will probably be closely contested in the courts.
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# BLOW TO STOCKHOLDERS OWNERS OF ALLEMANNIA BANK STOCK TO BE ASSESSED 100 PER CENT LITIGATION WILL FOLLOW Mulcted Ones Will Set Up Defense That They Were Assessed on the Reorganization Scheme. Stockholders in the Allemannia bank, twice closed under orders from the state bank examiner, will have to suffer an assessment against their holdings. The order to this effect was yesterday issued to Receiver Hunt by Judge Otis, and will be carried into effect by that official, unless the courts are appealed to. The matter came up yesterday before Judge Otis on petition by the receiver for an assessment, and the argument indulged in by the attorneys representing the several interests were mainly on how large the assessment should be. The present assets of the bank are placed at $17,500, while the liabilities amount to $77,000, of which $5,000 in claims have been disallowed. This practically makes an indebtedness of $54,000, which, with the expenses of the receivership, would bring the liability of the defunct corporation up to a figure that not less than an assessment of 100 per cent would wipe out. Judge Otis accordingly instructed that the assessment be made. Attorney Trask, acting for the receiver, informed the court that he had inquired into the responsibility of the 250 or more stockholders of the bank and had found a rather mixed state of affairs. The holders of $6,400 of the stock were entirely solvent and had no defense against the liability; the holders of $12,500 were probably solvent, with the only defense that they had paid one assessment; the holders of $22,500 were solvent with no defense, except an assignment of their stock, and the remainder, representing about $26,500 of the stock, not solvent. There were others,
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# STOCKHOLDERS MUST PAY UP. Allemannia Bank Shareholders Assessed 100 Per Cent. The action of Judge Otis, in ordering an assessment of 100 per cent on the stock of the insolvent Allemannia bank was made official yesterday when an order was handed down confirming the assessment. The stockholders have twenty-five days in which to pay the amount represented by their holdings. After that the receiver must proceed against all who fail to pay. The amount collected is to be held until further orders from the court.
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TECHNICAL POINT RAISED. Receivership of Allemannia Bank May Be Invalidated. A question was raised in Judge Jaggard's court yesterday that bids fair to cause trouble for W. F. Hunt as receiver of the Allemannia bank. It appears that when Judge Lewis appointed Mr. Hunt as receiver of the bank he simply appointed him as receiver of "the Allemannia bank, a corporation." The appointment should have read as receiver of "the Allemannia Bank of St. Paul." While this is a small technical point It may involve the validity of all acts since the appointment. The court may SO amend the appointment as to make the proceedings valid, entering a decree to that effect.
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Sue to Quiet Title. William F. Hunt, as receiver of the Allemannia Bank of St. Paul, and Ex-Sheriff John Wagener are co-defendants in a suit brought by G. A. Krauth, as administrator for the estate of Mary Virginia Krauth, deceased. The complaint states that the deceased was the owner of certain sheriff's certificates to property in Easyville Heights to the value of $159.30. The complaint further alleges that the Allemannia bank purchased the certificates from Wagener and paid him the above amount for them and the receiver now lays claim to their title. The suit is to quiet the title of the bank and to recover the amount paid for them from Wagener.
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May Sell Land. Judge Lewis yesterday gave William F. Hunt, as receiver of the Allemannia Bank of St. Paul, permission to sell to Ernest Reiff 1,400 acres of land, tire same being part of the assets of the defunct bank, for a consideration of $1,350. The offer made at first was $1,000 and subsequently increased. The property is mostly sand lands, located northeast of St. Cloud.
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Allowed to File Claims. In the district court Judge Lewis filed an order yesterday in the case of the state of Minnesota ex rel. attorney general against the Allemannia Bank of St. Paul whereby Francis E. Baker, Paul S. Hendrickson, John Fisher and Peter Schletty are permitted to file their claims as creditors of the insolvent bank with W. F. Hunt, receiver.
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# CREDIT FOR STOCKHOLDERS. Allemannia Bank Decision of Importance by Judge Brill. According to a decision made by Judge Brill in the district court yesterday stockholders of the Allemannia bank who paid in money at the time of the reorganization of the concern are entitled to have it credited against their stock liability. The decision was given in the case of William F. Hunt, the receiver, against Charles G. Rozen, who was asked to pay $250. If applied to all the stockholders the decision will reduce the assets of the bank about $30,000. It will probably be appealed to the supreme court.
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Argued in Supreme Court. In the state supreme court yesterday the following cases were argued and submitted: William F. Hunt, as receiver of the Allemannia bank, St. Paul, against M. Doran, respondent; The City of Winona, respondent, vs. M. S. Jenkins et al, defendants, and The Fidelity Deposit Company of Maryland, appellant; The City of Winona, appellant, vs. M. S. Jenkins et al., defendants, and The Fidelity Deposit Company of Maryland, respondent.
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ENOS NOTE TANGLE Savings Bank Wins Suit to Recover Paper A decision settling, in so far as the Ramsey county district court is concerned, a litigation in which four banks and half a dozen individuals are involved, was announced yesterday by Judge Lewis. The matter was that of the petition of Charles E. Otis, receiver of the Savings bank of St. Paul and the Mechanics National bank of New York, to discover the legal claims of Fred M. Loomis to collect upon a note for $10,000 given by the Savings bank of St. Paul to the Allemannia bank for sixty days in 1896. Judge Lewis decides that the note had been fully paid by the Savings bank and orders Fred M. Loomis, holder of the note, to turn over collateral which he holds to Messrs. Nixon and Sheehan, receivers of the Minnesota Savings bank, and to Judge Otis, receiver of the Savings bank of St. Paul. In the summer of 1896 the $10,000 note, secured by `realty mortgages and bonds was given by the Savings Bank of St. Paul to the Allemannia bank, for sixty days. Shortly afterwards the Allemannia bank, the Savings bank having suspended in the meantime, and itself being hard pressed for funds, discounted the note to the Mechanics National bank of New York. Soon afterwards the Allemannia bank failed. Later it reopened its doors and payments were begun upon the note. These payments were credited to the account of the Mechanics National on the local bank's books and finally the note was completely satisfied and was returned shortly after the bank had suspended for the second and last time. W. F. Hunt, the receiver, came into possession of the note which had been returned, made on the Savings bank and found only a couple of small payment indorsements upon its back, so he concluded that it was still negotiable property and Fred M. Loomis bought it, together with certain of the securities which had been given when the note was first made. Investigations showed that the note was fully satisfied and the suit resulted to ascertain the claims of Mr. Loomis for collection.