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ASK MAYWOOD BANK RECEIVER petition for receiver for the and Savings bank of recently closed its doors, filed today Hammond court by Luther Symons, state bank examiner on relation the state of Indiana. The for the receivership will be before Judge Virgil Reiter room on Sept. the the returnable, Anderson, deputy clerk, declared this morning.
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ASK MAYWOOD BANK RECEIVER A petition for receiver for the Maywood Trust and bank of Hammond, which recently closed its filed today Hammond Superior court Luther Symons, state bank on relation of the state of Indiana. The petition for the will heard before Judge Virgil Reiter in Hammond No. the Mrs. son, deputy clerk, declared this morning.
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ASK MAYWOOD BANK RECEIVER A petition for receiver for the Maywood Trust and bank of Hammond, which recently closed its doors, was filed today in Hammond Superior court by Luther Symons, state bank examiner relation of state of Indiana. The petition for the receivership will be heard before Judge Virgil Reiter Hammond Superior court room No. on Sept. 30, the date the case returnable, Mrs. Cora Anderson, deputy clerk, declared morning.
DECISION RESTS WITH TWO JUDGES Hammond will adopt South Bend's bank aid plan if Judges Virgil S. Reiter and Clyde Cleveland approve it, according to some of the local bank receivers and their attorneys who made a special trip to South Bend yesterday to study the scheme in actual operation. The local group proposes to meet with the jurists some day this week and hold a round-table discussion on the matter. They were highly impressed with the worth of the plan yesterday after watching it in operation for more than three hours. They found that it has benefited South Bend to such an extent that the plan now is in extensive use there. Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank.
DECISION RESTS WITH TWO JUDGES Hammond will adopt South Bend's bank aid plan if Judges Virgil S. Reiter and Clyde Cleveland approve it, according to some of the local bank receivers and their attorneys who made a special trip to South Bend yesterday to study the scheme in actual operation. The local group proposes to meet with the jurists some day this week and hold a round-table discussion on the matter. They were highly impressed with the worth of the plan yesterday after watching it in operation for more than three hours. They found that it has benefited South Bend to such an extent that the plan now is in extensive use there. Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank.
Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank. The following attorneys accompanied them: City Attorney Gerald Gillett, representing Mayor Charles O. Schonert; L. L. Bomberger, Wasson Wilson, and Harold Hammond. Former Mayor A. E. Tinkham represented Timothy P. Galvin, president of the chamber of commerce. At the conclusion of their study, (Continued on Page Twelve)
Hammond will adopt South Bend's bank aid plan if Judges Virgil S. Reiter and Clyde Cleveland approve it, according to some of the local bank receivers and their attorneys who made a special trip to South Bend yesterday to study the scheme in actual operation. The local group proposes to meet with the jurists some day this week and hold a round-table discussion on the matter. They were highly impressed with the worth of the plan yesterday after watching it in operation for more than three hours. They found that it has benefited South Bend to such an extent that the plan now is in extensive use there. Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank.
Those who made the trip were: Horace S. French, receiver for the First Trust and Savings bank; Harry E. Folk, joint receiver for the Peoples Co-Operative State bank, and David T. Emery, receiver for both the Northern Trust and Savings bank and the Maywood Trust and Savings bank. The following attorneys accompanied them: City Attorney Gerald Gillett, representing Mayor Charles O. Schonert; L. L. Bomberger, Wasson Wilson, and Harold Hammond. Former Mayor A. E. Tinkham represented Timothy P. Galvin, president of the chamber of commerce. At the conclusion of their study, (Continued on Page Twelve)
David T. Emery Working On Data For Maywood Trust & Savings Loan Application for an R. F. C. loan with which to pay dividend to depositors of the defunct Maywood Trust and Savings bank. of Hammond, will be filed as soon as the receivership is able to prepare the necessary data, Receiver David T. Emery reported today. Mr Emery the and possible. He he will ask the largest loan that can be made assets of stitution Emery for the and of Hammond. When asked not would for R. loan with institution, he said he ASSETS "Assets of the Trust," Mr. Emery declared, "virtually dissipated by before the bank whether the would loan any but propose an the subject before decide not to apply You must the appraising assets in order to obtain loan: therefore, if of the Northern Trust are the C., there little adding tion of what assets there Emery the second Hammond report would of the offer to loan money acceptable assets that dividends be paid Harry receiver for the Savings bank and for the State bank, yesterday that the data for is filing applications for these two number bank the scheduled to They said they vestigating the R. offer and expect file soon as is obtained.
RECEIVER INDICATES PROGRESS IN 4 YEARS Maywood and Northern Bank Liquidation Are Nearly Complete Receivership reports for the Maywood Trust and Savings bank and the Northern Trust and Savings bank, two defunct institutions of Hammond, were submitted today for public inspection in Hammond Superior court by David T. Emery, receiver. For the Maywood bank, Mr. Emery reports cash receipts of $93,625.65. This was applied as follows: Bills payable, $44,282; preferred and secured claims paid, $6,767; advances to protect assets, $4,011; interest on bills payable, $3,482; cost of operating receivership, $21,384; dividends payable Feb. 1, 1935, $10,938; and cash on hand Jan. 31, 1935, $2,761.