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City Asks for a Receiver for the German-American. RESULT OF WARRANT DISPUTE. The Bank Claims That the City Has Overdrawn Its Account. Columbia National Stockholders to Be Assessed Again-All the County Money Is in the Courthouse Vaults -The First National Bank of Puyallup to Liquidate. Tacoma, Oct. 17.-Special.-City Attorney Wickersham and City Treasurer MeCauley today applied to the superior court for the appointment of a receiver of the German-American Safe Deposit and Savings bank. The application was made before Judge Pritchard, on the ground that the institution is insolvent, its refusa! to honor the city treasurer's check for $58.369, the amount claimed to be on deposit, being cited as evidence. Immediately after the case came up the city attorney moved that the case be transferred to Judge Parker's court, it being shown that Judge Pritchard is a stockholder in the Columbia National bank. The court said he was not interested in the savings bank and saw no reason why he should not try the case. After consulting with the attorneys and Judge Parker, Judge Fritchard granted the motion to transfer the case without prejudice, the bank taking an exception. When the matter came before Judge Parker, the court postponed the hearing till tomorrow, saying tnat there was no showing of an emergency and that a full hearing should be had when an appointment of a receiver for a bank is asked. This action on the city's part is the result of a suit brought on Tuesday by the German-American bank, whereby it seeks to settle its account with the city. The bank alleges that ex-City Treasurer Boggs deposited in the bank $80,369 of city warrants between April, 1892. and April, 1894, the city receiving credit for so much cash. Since taking office in April, 1894, Treasurer McCauley has drawn out $22.000 in cash, leaving the balance $58,369. The city has found that under recent decisions the warrants thus placed in the bank are not strictly legal, being issued in excess of the constitutional limit of indebtedness, though they will be ultimately validated. The bank alleges that since the city claims the warrants to be illegal it should not ask the bank to pay the credit so secured in cash, and asks the court to allow the warrants to be set off against the city's credit. If this contention is allowed, the city will owe the bank the $22,000 already drawn out in cash, and it asks for such a judgment. These allegations were again set up today in answer to the city's request for a receiver. The bank denies the allegation of insolvency. Receiver Nolan of the Commercial bank. today asked for an order authorizing him to return to depositors about $1,200 which was deposited Tuesday, the last day the bank remained open. which deposits were kept separate from the other assets. The failure of the Commercial bank and application for a receiver for the German. American bank in nowise affected the other banks of the city. The officers of the German-American bank say they feel confident of winning their suit and continuing in business. The Columbia National bank is preparing to make an assessment on its stockholders, who have already sent over $45.000 here to meet business demands since the council began its agitation regarding city deposits. The assessment will not be completed until certain papers are signed by Controller James H. Eckles, now en route to Washington City from Europe. Every dollar of county money Fas been withdrawn from the Tacoma banks, and is in the county treasurer's vaults.
