Show AX IOWA BANK FAILURE Judge Loof bonroTr Xamed as One of the Stockholders The following dispatch which appeared ap-peared in the Chicago Herald of Feb 16 may prove interesting to some Salt Lakers Atlantic Iowa Feb 15The great excitement growing out of the Cass County Bank failure does not abate but has grown more intense since it was given out on good authority that the liabilities are 510000 with less than 100000 assets and about 25000 preferred claims The overdrafts of the officers and stockholders have grown until they now aggregate 242 000 The most sanguine depositors do co not expect to get over 10 cents on the 1 and many think it will be a complete com-plete loss to the average depositor The smoldering indignation among the depositors needs but a small fanning fan-ning to break forth Into some rash deed The long delay of any report whatever of the outcome and the ap pearances that the results will show one of the greatest steals in the his tory of Iowa banking has caused very hard feelings The petition for a receiver i re-ceiver was first filed as a state bank while at the same time the officers were claiming that It was a private bank A good many attachments were filed against the property of the stockholders stockhold-ers as soon as the receiver was appointed ap-pointed Now i appears that after a tirne an amended petition was filed for a receiver as a private institution I now proved a private bank the attachments at-tachments sued out between the filing sue fing I of the first and second petitions for receiver re-ceiver will come in full force and hold on the property for the full amount regardless of otherclaims I is reported here today that some of the nonresident stockholders are disposing of their property in order to avoid attachments among them Judge Loofborough of Salt Lake These reports re-ports have added to the excitement The grand jury is in session but has not yet returned any indictments A few of the heaviest depositors have banded together and sued out attach ments against property of the stockholders stock-holders in different places The clerk of the court says the litigation growing grow-ing out of the failure will exceed anything any-thing ever heard of In this part of the I state So many papers are being filed that the clerical force is hardly able to handle them I was reported that the receiver would make his report this week but it is given out today that another delay has been occasioned and that it will not appear until next week If not forthcoming soon something some-thing rash may be done by the infuriated infuri-ated depositors State Auditor McCarthy was in the city today being summoned before the grand jury to testify in regard to the sworn statement of C F Chase of the publication of the surrender of the banks charter that was never published pub-lished |