| Show I BANK CASE TO TOBE TOBE BE SPEEDED UP Judge Will Hurry Hearings on Matters of Defunct Ogden Institution Special to The OGDEN Feb 16 16 Judge Judge George S. S Barker in the Second district court announced his intention Monday to pass speedily through his court the matter of ol hearings on the petition of the state banking department as a astep astep astep step toward expediting liquidation of or orthe the defunct Ogden State bank The matter came before Judge Jude Barker as a docket case to act on the petition for an order accepting the proposal of ot officers and directors of the bank to settle their liability for tor Continuance of the hearing was granted until Thursday upon motion of oC 0 Arthur H. H Woolley and W W. W H H. fleeder Jr representing depositors A meeting o of depositors was held last week at which a committee was empowered empowered em em- powered to employ counsel to oppose granting ranting the petition of of the state te banking department Jud Judge c Barker announced that f if It appears certain that objections arc are areto to be filed when the hearing is resumed re rc- re- re Thursday the matter will JOto go JO goto goto to a hearing at 10 a. a m. m Friday in order order order or or- der that the liquidation of oC the banks bank's I affairs in the interest of oC depositors may not riot be delayed Additional al time tim was asked b by the thc depositors' depositors attorneys to permit them to become familiar familial with the issues s u s to tobe tobe tobe be taken before the court and prepare prepare prepare pre pre- pare and file me their objections Valentine Gideon and Ira A. A Huggins Hug- Hug pins gins attorneys s 's representing the state bank commissioner requested a list lis of the depositors objecting to the granting of ot the petition Mr Woolley said the list would be furnished a ns as quickly as possible John C. C Davis as attorney for lor Lcm Lem uel G. G a depositor told the court that objection to the petition had been filed by his client Judge Barker advised him that all related matters mi might ht be taken up by the court at the same hearing The objection filed with the cour court b by Mr PIr Monday tonda sets out that tha he has in trust funds in the Ogden State bank and a savin savings s account account account ac ac- count of lie He asks that the state banking department be di by the court to turn over to him all the moneys moneys in trust and md that tha the commissioner be required to account nc ac ac- ac count for the moneys lc left t in trust in inthe inthe inthe the bank i APPROVAL Ol OPPOSED POSED The objections opposing approval of ot the petition filed b by the bank com corn commissioner missioner are arc on the ground that the commissioner and examiner in charge of the bank have failed tailed to file tile filea a full lull and proper inventory with the I court showing the true status and condition of the bank that they have failed to report to the court any ol of oC the matters and things held in trust by the bank that the they have failed to list all of the claims outstanding against the bankIt bank It Is further alleged that the bank bonk has taken moneys left lef in trust with it jt as trustee and nd has placed them in what the bank designates as its trust I department and in lieu in-lieu lieu thereof has placed In the trust department overdue overdue over over- due duc stale sU and inadequate loans held by the bank Another objection filed cites that the banking departments department's petition does docs not disclose the financial condition condition condi tion of oC the directors other than that of o A. A P. P Bi Bigelow elow the bank president It is stated that the petition does docs not disclose whether or not dividends have been paid to any of ol the stockholders stockholders stock stock- holders as directors set out in the petition while the bank was insolvent ent or whether or not the directors have withdrawn deposits from the bank while it was insolvent or if the dividends were paid or withdrawals made why they have not been re returned rc- rc turned to the bank In conclusion Mr Ir sets out lout there are a large larga number of separate trust a agreements which the bank has entered into and that large sums of ol money and large amounts of property property property prop prop- erty stocks and bonds and other securities se se- se have been con e conveyed ed to and deposited with the bank in trust and that said trustors arc are not nor is the court properly apprised as to the condition of the trusts or as to their condition on August 31 1931 the day the bank was taken over by the commissioner com corn missioner and that until such report is made the bank commissioner and examiner are lre not in a position to tomake tomake tomake make recommendations to the court and that an any conclusions that they ma may attempt to draw arc are erroneous |
