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Bank Receiverships. Chicago, Aug. 9.—I compliment you on the article which appeared in today's TRIBUNE on bank receiverships. It is the first time any newspaper has taken the trouble to write an intelligent article on the subject. As a former bank receiver and now deputy receiver under Mr. O'Connell I realize the workings of a receivership are little understood by the public and the easiest thing a paper can do is stir the public up by articles which infer that every one connected with a bank receivership is a crook. This makes the work of liquidation doubly hard, because people who owe money to the bank feel they might as well keep it as give it to some receiver and never have it get to depositors. If newspapers want to do some real good for depositors let them start after all the people who owe money to these banks and make an effort to pay. These are the real crooks. I happen to be chairman of a bondholders' committee and the reason we make little headway in getting properties out of difficulty is that bondholders will not deposit bonds. Barret O'Hara and the rest of them keep the bondholders stirred up with the cry, "don't deposit," but they do not tell the bondholders what to do if they don't deposit. No one has ever been able to solve this question. Sometimes a bondholder by holding out can get a hundred cents on a dollar, but this is at the expense of other bondholders, which is not fair. W. R. Drennan, Deputy Receiver, South Shore State bank.