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ASK RECEIVER FOR BANK. Auditor Carroll Decides to Wind Up Affairs of Dedham Bank. Des Moines, Jan. 5.-A receiver has been asked for by the auditor of state for the bank at Dedham. The auditor was at Dedham yesterday in conference with the examiner and the stockholders and directors of the institution. Before returning to Des Moines be directed that application for a receiver be made. Arrangements were effected to proceed to Carroll for filing. The auditor has designated two men, either of whom, appointed as receiver, will be satiafactory to the state. It is supposed that an order will be made to this effect today at Carroll. It became apparent that the property of President Caton would be subjected, eventually to involuntary bankruptcy proceedings by his creditorm. This made the rehabilitation of the capital stock of the institution impossible. Therefore there was nothing to do further but to place the bank in the hands of a receiver, on account of the impairment of the capital, and to wind up its affairs. "I am sure that the bank will pay depositors in full," said Auditor Carroll yesterday. "There is absolutely nothing the matter with the institution except the insolvency of the president. Were 1t not for the danger of bankruptcy proceedings later the stockholders would be warranted in making good the impairment of the capital and proceeding with the business. Under the circumstances it would be impossible." The president of the bank has again left Dedham. No one knows whither he has gone. It is BOW believed that for some time he has been doing business on credit absolutely, and had no property. It 18 said in Dedham that the man never has lived extravagantly, that he has not speculated and that the money which he undoubtedly had formerly must have gone in bad investments.
