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WANT RECEIVER FOR TRUST CO. St. Louis, Mo., Aug. 21. - Suit for the appointment of a receiver for the Bankers Trust Company, a St. Louis concern that owns stock in many small town banks in the Southwest, was filed in the Circuit Court here to-day.
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RECEIVER FOR ST.LOUIS CONCERN St. Louis, Aug. 21.-Suit for the appointment of a receiver for the Bankers' Trust Co., a St. Louis concern that owns stock in many small town banks in the southwest, was filed in circuit court.
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St, Louis. Aug. 21.-Suit for the appointment of a receiver for the Bankers' Trust company, a St. Louis concern that owns stock in many small town banks in the southwest, was filed in the circuit court here today.
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WANT RECEIVER St. Louis, Aug. 21.-Suit for the appointment of a receiver for the Bankers' Trust company of St. Louis, a concern that owns stock in many small town banks in the southwest, was filed in the circuit court today.
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RECEIVER ASKED FOR St. Louis, Mo., Aug. 21.-Suit for the appointment of a receiver for the Bankers' Trust company, a St. Louis concern that own stock in many small town banks in the northwest, was filed in the circuit court here today.
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St. Louis Trust Company Fails. ST. LOUIS, Aug. 21.-Suit for the appointment of is receiver for the Bankers' Trust company, a St. Louis concern that owns stock in many small town banks in the southwest, was filed in tl.e circuit court here today:
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RECEIVER SOUGHT. WASHINGTON, D. C., Aug. 22Suit for the appointment of a receiver for the Bankers Trust Company, a St. Louis concern, that owns stock in small town banks in the Southwest, was filed in the circuit court here today.
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RECEIVER SOUGHT. WASHINGTON, D. C., Aug. 22Suit for the appointment of a receiver for the Bankers Trust Company, a St. Louis concern, that owns stock in small town banks in the Southwest, was filed in the circuit court here today.
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Bank Fails. St. Louis.-Suit for the appointment of a receiver for the Bankers' Trust company, a St. Louis concern that own3 stock in many small town banks in the southwest, was filed in the circuit ccurt here Friday.
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Trust Company in Court. Assistant Attorney General Fitch has served notice upon Judge Eugene McQuillin of St. Louis that he will apply to the supreme court for a writ of prohibition against him, if be attempts to appoint a receiver for the Bankers' Trust company of St. Louis.
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# SAYS BANK FAILURE # BANKRUPTED HIM Dr. F. W. Gale of Marquand Files Petition With Commissioner Here. Dr. Frank W. Gale, of Marquand, a physician and surgeon, yesterday filed a voluntary petition in bankruptcy in the U. S. District Court, showing in his schedule of assets and liabilities filed that his difficulty was due to investment in stocks now worthless of the Bankers Trust Co., of St. Louis, a defunct concern formerly run by J. E. Franklin. Dr. Gale's liabilities total $16,596.46 including many claims secured by the worthless Bankers Trust Co., paper. His assets amount to $5,166.35, and he has assets in action before the court amounting to $20,238.50. The claims that are secured by the Bankers Trust Co., stocks are no better than the unsecured claims of which there are $200 worth, so far as the value of the collateral is concerned. He owes the Bank of Madison County of Fredericktown, Mo., $2200 on a promissory note at 8 per cent interest, secured by sixteen shares of the Bankers Trust and a $1000 life insurance policy. Charles Whitener, of Zion, Mo., holds a similar note for $900, W. A. Kinder, one for $800. The Farmers Bank, of Farmington, holds a note for $2000 secured by ten shares of Miners Lumber Co. stocks and fifteen of the Bankers Trust. The lumber stocks are worth $1000. Mrs. Callie Ward, of Fredericktown, holds a promissory note for $1350 secured by a deed of trust on his homestead, and the Mississippi Valley Trust Co., of St. Louis, holds a note for $2725 secured by sixty-two shares of Bankers Trust which have been sold and there is a suit pending in Circui' Court of Madison County to recover the balance on the note.
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$4,224,810. "Assets" Declared Worthless. (St. Louis Post-Dispatch.) Book values, or so-called assets, of the Bankers' Trust Co., to the amount of $4,224,810, are declared worthless by Francis E. Williams, receiver of the company, who has recommended, in a report to the Circuit Court, that they be stricken from the record of the company's resources. The largest item in the proposed reduction is the cutting of $3,949,000, the valuation of bonds held by the company, to $1,000,000. The value of real estate, it is stated, should be shown as $59,557,73, instead of $130,138.74. A reduction of about onehalf in the book value of stocks held by the company, which appeared as $955,677.50, is also declared necessary. Other items which it is sought to charge off are $719,623.33, as bills receivable, and overdrafts, cash items and judgments, comparatively small amounts. The Bankers' Trust Co. has been in a receiver's hands since 1914. Leon W. Quick, who was made receiver at that time, killed himself last July. Williams was at that time serving as co-receiver, and has since been in charge as receiver. W. L. Sturdevant, attorney for the receiver, said today: "Since the receivership began the receiver has liquidated more than $3,000,000 of indebtedness. The actual claims do not now greatly exceed $150,000. The report shows a cash balance of $33,370 76 on hand. "The matters to be charged off are not assets, bnt book valuations. The The receiver's report does not show some live and promising assets of the company, one of these being a $43,000 judgment, which is a lien on the Cross-S ranch in Texas, a valuable estate. "The Bankers' Trust Co. also owns between 9000 and 10,000 acres of land in McMullen and Atacosa counties, Texas. At present the oil prospects in the vicinity of the Atacosa county land are considered very good and S the land has a high potential value." e The receiver's report says that the y book values, as now appearing, are t a hindrance and an incumbrance. It a is also stated that Qulck's death has caused confusion as to some details o which have not yet been fully adjustf ed.