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HEAR BANK PETITION Wild Receiver Asks $151,000 From Realty Company. Hearing on a petition of Richard L. Lowther, receiver of the J. F. Wild & Co. State bank, to collect $151,000 from shareholders of the Elevator Realty Company, a defunct subsidiary of the bank, was to be held this afternoon in superior court three. Lowther wants the court to direct an assessment against stockholders and any existing assets of the realty company, to be sold to repay the bank.
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# WILD LOANS SCORED Made Advances in Florida After Boom, Says Report. The J. F. Wild & Co. State bank advanced money on Florida loans after the boom had collapsed, a report of a committee of bankers showed today. The report pointed out that many of the loans should not have been made and advised a "watchful waiting policy" to realize on the investment. The committee was named to investigate by about one hundred bankers interested in the defunct institution. Richard L. Lowther, receiver, was commended for his faithful discharge of his duties. The report will be sent all persons interested in the bank. Hearings on the $25,000 claims against the receiver will be held before Probate Judge Mahlon Bash June 19. The claim is in connection with Inglerose Investment Company securities. The mortgages were worthless, according to the purchaser.
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# ARGUMENTS ON WILD # BOND CASES MONDAY Judge Bash Will Hear Pleas of Buyers Seeking $33,000. Oral arguments in the probate court cases in which plaintiffs are seeking $33,000 from Richard Lowther, receiver of the J. F. Wild & Co. State bank, for money spent in the purchase of Ingelrose Investment Company mortgage bonds, sold by the bank, will be heard by Judge Mahlon E. Bash Monday. Evidence was heard Wednesday. Purchasers asserted they were "induced to buy" by bank officials and were assured that the stocks were "absolutely good." Frederick Schortemeier, attorney for the claimants, said the sales were made through "fraud and deceit" and that the bonds were not registered with the securities commission.
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The Community church, being organized at the Illinois theater, 2174 North Illinois street, opened a vacation church school for neighborhood children this morning in the theater building. Civil service vacancies announced by Henry M. Trimpe, local secretary, include: Junior agriculture economist, supervisor of vocational rehabilitation; junior social economist, foreman-instructor in dairying and animal industry at Leavenworth penitentiary, asistant chemist for leather, senior, associate and assistant radio engineer. The nineteenth semi-annual dividend of 3½ per cent on preferred stock of the West Baking Company has been declared by directors, payable to all stockholders of record as of the close of business June 30, 1929. Ray F. Crom, vice-president of the McQuay-Norris Bearings Company, will address the Indianapolis Rotary Club at its luncheon in the Claypool Tuesday. Plans for the annual fish fries at West Park Christian church, July 19 and 20, at 6:30 p. m., were announced Sunday by the Rev. N. L. Collins, pastor. A popularity contest will be held in connection with the event, which attracts several thousand persons annually. JUDGE WILLIAM O. DUNLAVY Judge William O. Dunlavy of superior court three has appointed Donald Lefuse, attorney, receiver for the Phoenix Realty Company. Receivership suit was filed by Richard Lowther, receiver for the J. F. Wild & Co. State bank, who asked $15,138.22 judgment on a note. Ronald L. Crozier, evangelist of Seattle, Wash., held the first of a series of meetings in Indianapolis
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# WILD BANK DIVIDEND # CALLED 'HAPPY DREAM' Intention of Richard L. Lowther, J. F. Wild & Co. State bank receiver, to pay depositors a final 12½ per cent dividend is a "happy dream," Joseph R. Williams, attorney for the bank's depositors' league, asserted today. Williams' opinion was voiced after Lowther filed a report on the bank's remaining assets with Probate Judge Mahlon E. Bash. Lowther's 127-page document included detailed tabulations on the general receivership for the fiscal year ending Aug. 7. Lowther said immediate payment of the final dividend was not anticipated. Received 62½ Per Cent Wild bank depositors have received 62½ per cent of their money in three dividends, which, Williams said, might be followed by another small payment "if some of the bank's spurious Florida properties can be disposed of." Referring to bank holdings on which Lowther intends to pay the final dividend, Williams said Lowther last spring was "hoodwinked" when he first surveyed the holdings. An investigation showed legal descriptions of the properties "were misrepresented after they had been compared to hundreds of photos taken by Lowther," Williams declared. Strewn Recklessly "The public ought to know the truth of the bank's Florida holdings," Williams said. "It has been found that several millions of dollars were strewn recklessly over that state by Wild bank representatives, and possibilities of realizing money for the 12½ per cent dividend are slim. "Depositors will lose in the end. Of $3,000,000 of their money in the institution when the doors closed, almost a fourth will be lost. Another $2,000,000 will be lost to stockholders. "Depositors have expected a total dividend payment as high as 93 per cent, but the Florida holdings indicate the limit is near. Lowther has exaggerated."
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CHANGE OF VENUE IN RECEIVERSHIP ASKED Court Action on Building Housing Gas Company May Affect City. Petition for a change of venue from Probate Judge Mahlon E. Bash of the suit for appointment of a receiver for the Majestic building, Maryland and Pennsylvania streets, has been filed with Bash by Paul C. Hill, a stockholder. Regarded as one of the "dead assets" of the J. F. Wild & Co. State bank receivership, the Majestic building probably will become a major problem if the city acquires ownership of the Citizens Gas Company, occupants of the building. In the receivership suit, Hill alleges the building and its management are in immediate danger of insolvency. It is only half occupied, he charged in the suit, filed Sept. 6. Bash did not indicate when he would rule on the venue petition.
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# WILD BANK RECEIVER # IS AWARDED $10,300 Attorney Also Allowed $10,000 for Services by Court. Receivership of the J. F. Wild Realty Company, subsidiary of the defunct J. F. Wild & Co. State bank, involving assets aggregating about $800,000, stood consummated today with allowance of fees totaling $20,300 by Circuit Judge Harry O. Chamberlin to the receiver and his attorney. Edgar M. Blessing, receiver, was granted $10,300, and Charles Martindale, Blessing's attorney, received $10,000. A stockholder opposing Blessing's suit for $15,000, testified the receiver had not devoted more than fifty or seventy-five days actual work to the receivership. Fred C. Dickson, president of the Indiana Trust Company, testified Blessing's services were worth from $16,000 to $18,000. Blessing and Martindale were commended by Chamberlin for consummating the receivership.