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LATE REALTY NEWS MORTGAGE DEEDS Joseph F. Egan to Charles C. Wiehn, two parcels of property on the westerly side of Hill street, $1,000. QUIT CLAIM DEEDS Salvatore Borrelli to Graziella Borrelli, real estate on the south side of Bronson street. Samuel Traurig to the Waterbury National Bank, temporary receiver, real estate on the northwest side of Lincoln street.
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IN TWO WEEKS SANDITZ APPRAISAL DUE Judge Grants Permission To Close Quarters Motion of Waterbury National, Receiver, Granted in Superior Court-Furniture and Other Equipment in Institution Will Be Sold-Offers Solicited Judge Newell Jennings granted to close Bank quarters on North hearing supercourt this The presented by the closed the Waterbury National through its Attorney Russell receivership in lighting. Attorney Carter told the court that the appraisal the closed bank would be ready in about two weeks. This appraisal is being the appraisers appointed by court several months Mr Carter the Sanditz Traurig Bank building which located that National handle the business notes forth that being done North Main Judge Jennings permisthe to for the furniture and equipnow in the closed bank.
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Judge Jennings also granted permission to the Waterbury National bank, receiver for the closed Kazemekas & Co bank, to deliver to respective owners, a number of Lithuanian government and United States liberal loan bonds. These bonds, Attorney L. Russell Carter, counsel for the receiver said, were held by the Kazemekas & Co bank for safe keeping and that the receiver of the closed bank had no legal right to them. The bonds amount to about $1,500, ranging from $50 to $100 each.
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Waterbury National Takes Possession Late In Month Receiver for Brooklyn Bank Brings Actions at Short Calendar Session To-day-Colonial Trust Gets $189,000 Foreclosure on Palomba Property The amounts involved in the six Foreclosures totaling nearly foreclosures ranged from $4,102 to $100,000 were granted the Water. $29,293.45. June 27th, 10 days bury National Bank, receiver for the Kazemekas and Company, from now was set as law day. suspended Brooklyn bank, against Judge Dickinson also granted the foreclosure in the amount of Charles Kazemekas at the short $189,202.83 in favor of the Col. calendar session of superior court before Judge Edwin C. Dickinson onial Trust Company against The Charles W. Palomba Company. today. The property involved is located on Bank street and in the The property involved is located at Willow and West Main street. The Brooklyn section of the city. The mortgages were issued to Mr court approved the lease agree. ment wherein the Hotel Water. Kazemekas by the Kazemekas bury is operated separately from company. Attorney Loren R. Carter appeared for the receiver the, rest of the property. The first and Attorney Francis P. Guilfoile Monday in February was set as law day. represented Mr Kazemekas.
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CLAIM BANKING LAWS VIOLATED Cassidy Makes Charge in Sanditz & Traurig $40,000 Certificate REEVES DROPS MOTION that the banking transaction laws Charges by the were the Sanditz wherein certificate of violated a & Traurig deposit the bank got amount of $40,000 from denials Merchants made to the Trust Co. and in the of the charges this were morning at A. a superior before court Judge Ernest called hearing The hearing was of the to Inglis. the disposition of certificate of $40.000 & Traurig bank Merchants Trust claim the determine Sanditz The preferred deposit Co. presented bank, against the re- by Waterbury National bank, the the Sanditz counsel, Carter. Attorney & Russell for the through ceiver counsel for its Attorney Francis Citizens Bank, Co. re- L. T. Reeves, National Trust Manufacturers the Merchants finceiver Attorney for Carter had concerning just and their statements John H. ished matter when Attorney of the representing depositors made the Cassidy. Merchants Trust Co by Atthe He was answered representcharges. Max R. Traurig, bank, torney depositors of the Sanditz "wild ing the charges were statements.' who termed Fifteen lawyers at the hearing. present Francis T. Reeves coun- exAttorney the Citizens Bank, Nasel for that the Waterbury claim for plained tional bank had filed certificate as the payment of the the Mera Trust Co. chants the claim was Sanditz in superior sion preferred to file claim court against He to said the corporation. granted permis- that and Reeves Traurig explained Co as a further Merchants Mr for the asking that Trust the receiver the Co had $40,000 filed the be a motion applied obligation a as note of a setoff against Sanditz who signed certificate Adolph for $40,000 when the was issued. Attorney L. Waterbury Russell Carter. National counfor the with Attorney Reeves that sel Bank. agreed small matter of that could it be was adjusted a by which the filing the su- a preme proper court papers could on hand down ruling. Cassidy stated he the dis- isagreed Attorney with counsel or that small in sues were charged narrow that $40,000 San- in scope. He deposited by the the Mer& but that a cash diz never Traurig Co., bank in bank note chants transacted Trust showing the in the had was a certificate of deposit in the Meramount of $40,000 chants claimed Trust Co. the bank laws were and He the transaction violated in that what amounted by pointed endorsement out was the made Merto an directors of that one Trust Co. He carried chants of the banks stated the two transaction. apparently transaction as one see how the and the added he couldn't it a preferred claim court against could term the Merchants Trust Co. Attorney Traurig Attorney stepped Cas- forand termed "Wild statements ward charges as reputation sidy's men of high commuaffecting standing in the Casand good He added that Attorney opportunity to substantiate that but sidy nity.' would be given those an statements bringing at them the proper up at time, this because hearing they was high- were enly dealing improper with a separate matter tirely. Cassidy, answering were Attorney Attorney Traurig, denied they wild statements. Inglis halted further dis- to Judge and instructed counsel the a cussion the proper motions time on place calendar at which hearing the date short will be set down for issues. Reeves said he will file of motion Attorney asking the reopening was permission the a motion wherein a preferred claim for granted certificate to file of deposit his and motion that the also ask that the Sanhe will for a setoff against The asking note will be withdrawn. the merits of ditz court will then claim hear of the Waterthe preferred Bank. bury National
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Steps toward hearing the claim of the Waterbury National bank, receiver, for the $40,000 certificate of deposit of the Sanditz & Traurig bank in the Merchants Trust Co, were cleared this morning when Attorney Francis T. Reves, counsel for the receiver for the Merchants Trust Co, got permission in superior court to withdraw a motion previously filed1 which sought in. structions on deposit. As the situation now stands, the only motion before the court is the one filed by Attorney L. Russell Carter, counsel for the receiver for the Sanditz bank, in which the contention is made that the certificate is a preferred claim and should be paid as part of the as. sets of the Sanditz bank. The motion is expected to be heard at the
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BANKER TO TAKE WITNESS STAND COMING WEEK Kazemekas Will Be Heard, By Order of Court, as to Shrinkage of Assets Permission to examine Charles Kazemekas, president of the suspended bank bearing his name, was granted by Judge Alfred C. Baldwin following a lengthy hearing in superior court this morning The date for the examination which will be directed toward clearing up. certain matters in the closed bank, will be set by the court some day next week. The motion for the examination was made by Attorney Michael V. Blansfield, appearing for the depositors' committee. He was joined by Attorney L. RusseM Carter, counsel for the receiver for the bank, the "Waterbury National Bank." (Continued on Page 4)
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Allow Kazemekas Receiver $5,550 Waterbury National Also Compensated for SanditzTraurig Work not take into account the fee for The Waterbury National Bank, services rendered but simply conreceiver for the Sanditz and Traustitutes the sums expended in the rig and Kazemekas Company conduct of the receivership. There were no objections to the banks was allowed a total of $5,passing of the court's order. It is 550 for reimbursements it expendthe first moneys the receiver has ed during the past year in its careceived since taking over the job pacity as receiver, by Judge Alfred under order of superior court last C. Baldwin in superior court this December. morning. Judge Baldwin allowed the receiver $2,450 in the Sanditz case Tribute to Late and $3,100 in the Kazemekas case. Attorney L. Russell Carter, counsel for the receiver explained Dr M. C. Donovan that these amounts totaled the sum expended by the receiver In operating the receivership since By Mary St Clair in Catholast December 24th. The sum does lic Transcript
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Payroll Checks Issued To-day (Continued from Page 1) bury banks will issue scrip remains to be determined. Austin L. Adams president of the Colonial Trust Company returned to Waterbury today from New York, where he arranged for the issuance of scrip to the local clearing house if needed. He is one of the committee of three bankers chosen at Monday's meeting to make all necessary arrangements for a substitute for currency, if the occasion warrants it. No decision will be given out until congress convenes tomorrow. Whether scrip will never be used in this city and whether the banks will reopen for general business Friday, Saturday or next Monday morning will be known within the next 24 or 48 hours. The Merchants Bureau of the Chamber of Commerce were notified today again as to what was expected of them. They are expected to accept factory payroll checks and those issued by the city of Waterbury up to a reasonable amount in exchange for merchandise or in payment of a bill. They are to be provided with sufficient fluid currency to carry on their business. They will be able to obtain cash daily during the emergency at the Menchants Trust company, but it will be a cash-for-cash proposition. No checks will be accepted for cash. To co-operate with the merchants the city of Waterbury and the factories issue checks ranging from $1 to $20. Most of the checks, however, are $1, $5 and $10. Merchants are expected to return the checks as change in any transaction. The whole arrangement is expected to be only of a few days duration. All banks are expected to be open for general business not later than Monday and they will take over the task of cashing of all payroll checks. The question has been asked thousands of times to the effect, what does a person receive for change if he makes a purchase and gives a check for $1 to a storekeeper in payment of an article valued at 30 cents. He will receive 70 cents back in quarters nickels, dimes or what the merchant has conveniently at hand. He is not obliged to take any credit slip or a specially devised scrip for use only in that particular store. If a merchant wishes to carry on business he is expected to carry sufficient change and to be reasonable in his dealings. The New Haven railroad owing to the conditions resulting from the bank holiday has announced a curtailment of service throughout New England. Busses running between Waterbury and New Haven on the New England Transportation company's lines are also affeeted.
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KAZEMEKAS ADDS $23,318 TO CASH BA Sanditz-Traurig As Japanese Troops Advanced On Reports $8,188 For Two Months Receiver, Waterbury National, Files $2,605 Claim for Conducting Business of Closed Institutions Since First of Year Cash totaling $23,318.87 has been ship while $820.08 has been spent in the Sanditz & Traurig receiverrealized from liquidation of the asship. sets in the Kazemekas & Co. Inc, Cash was received during the bank and cash amounting to $8,two months in the Kazemekas re188.97 is on hand from assets of the Sanditz & Traurig banks, a receivership, as follows: Industrial loans, $772,64; time and demand port of the doings of the receiver for both banks during the months loans, $262.64; dividends, $70.75; interest, $91.32: miscellaneous, of January and February filed to$66.72; furniture and fixtures, day in superior court reveals. No dividends have been paid out $110; rents. $1,567.60. Expenses to depositors of the Kazemekas included salaries, insurance, and taxes and other incidentals. bank while a 10 per cent dividend NEA has been paid out of cash to deIn the Sanditz bank receivership, the cash was received as follows: positors of the Sanditz & Traurig bank. Industrial loans. $307.33; bills disMarching into the face of a blizzard, Japanese troops are shown as they adva Total expenses of the receiver, counted, $463.99; collateral loans. ward the Jehol front at the outset of the campaign W hich wrested Chengteh, the ( the Waterbury National bank, dur$25; mortgage loans, $265; rents, from the Chinese. ing those two months show that $1,240.23: dividends, $12.25: interest, $210.40: furniture and fixtures, $1,785.47 has been expended in op$10; miscellaneous, $12.31. erating the Kazemekas receiver. 11 T CAIDMOUNT-CLID 10
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Commissioner of Banks to Act (Continued from Page 1) Waterbury as receiver for the MerTrust and the bury National Sanditz Traurig and Kazemekas Co. banks. will also mean the retirement of the Naugatuck National for the Naugatuck Bank & Trust The bill gives authority to the state take over the duties bank receiverships bring about the liquidation of the insolvent banks' assets. The bill also gives authority to the bank deputies agents to assist him in the any bank's might should the bill pass, the reappoint of the Waterbury bank to assist him the receivership conduct. Whether the bank receivers would willing to accept the fact that the Izens National Bank only accepted the receivership the Merchants Trust request. Whether tinue, should bank commissioner and he to do will be is expected that the working the Merchants Co. would be kept until the bank deputies, take over the position of the affairs the further provides that all the work have during their in the receivership positions.
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BANK RECEIVER ASKS The Waterbury National Bank. receiver Kazemekas Co. bank, instructions on the of an order to liquidate $5,500 mortgage on propGreen street, petition filed superior court petition states the has an $500 to the mortwhich is appraised at $14,500. TWO TO BE ELECTED Bridgeport, June (UP) to the the 47th convention the grand council Connecticut, Royal Arcanum, which opens here tonight. About delegates will to attend which continue until Friday