OCR Text |
Show I MERCHANTS BANK CASE MAY BE DISMISSED; SALT LAKE, June 11. Dismissal of the suit brought by the receiver of the Merchants' bank to recover from! twenty-nine former directors of the Institution has become practically cer-J lain as a result of settlements efrected-arid efrected-arid in process of completion, according accord-ing to an announcement ol counsel1 of the receiver. L'pon this announce-, ment Judge P. C. Jivans of the Third; district court granted a motion yes-terdav yes-terdav for the continuance of the case, V until "Monday. ' Counsel for Receiver Stephen II.- Lynch gave out the information that I, settlement had practically been com-; com-; pleted in the case of li. Biunard, who came from Texas lor that purpose, ' and that a telegraphic dispatch trom '4 A. O- Jacobson in Nevada was to the J effect that he will accept the rcceiv-' rcceiv-' er's terms. , The next petition for authorization of acceptance of settlements which Judge V. JL Bramel will be request-1 cd to approve .will clear up the situation; situa-tion; in the opinion of tne attorneys S for the receiver. With approximately S $150,000 to be realized. tnis will be sufficient to bring tne payments to 1 depositors up to t0 cents on the dol- I lar. The anticipated long legal battle, ' with heavy expenses and uncertainty JIBl' of realization even upon judgments I'ful after obtained, will be avoided. 1 |