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TO SUE NON-RESIDENTS. tuling That Will Be of Benefit to Creditors. MINNEAPOLIS, Aug. 15.-Walter N. Caroll, as receiver in the stockholders' suit in he Citizens' bank Insolvency, this morning led an application with the district court or authority to begin an action against he non-resident stockholders. It states that fter collecting all of the judgments against he resident stockholders, there will still e an unpaid balance of $60,000 due the credtors. Against this there is $21,000 in Block eld by non-resident stockholders. A similar application was filed in connecion with the Bank of New England in the tockholders' suit in which Clarence H. Childs is receiver. Judge Elliott granted oth petitions, authorizing both receivers to egin action in the proper courts. These are the first suits of the kind since he recent ruling of the supreme court in he case of Hanson VS. Davidson, in which t was held that such actions could be beun in addition to the main action against he resident stockholders. If these actions are successful as a class, ! will mean a vast saving eventually to he creditors of insolvent concerns, though t present there are not a great many companies against whose stockholders suits pay be begun. The most notable is the Guaranty Loan company. It is sa'd that in his alone there is $1,000,000 of non-resid nt tock. No estimate has yet besn made in he case of the City bank, but it is believed 0 be considerable. The outside stock of he Bank of New England amounts to only bout $6,000.
