9660563991160 966056399
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THE BANK OF SALT LAKE Report of Messrs. Knox and Jacobs Filed Yesterday. WHAT RECEIVERS FOUND. The Condition of the First Bank of Mercur, A. Deficiency There of Nearly Five Thousand Dollars-Result of the Labors of the Experts, Who Have Been Going Over the Books For Some Time.
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Receivers' Report Goes Over for a Week. The receivers of the Bank of Salt Lake presented their report to the Third district court yesterday and next Saturday was appointed for the hearing on the same The account shows receipts, $8,171.20; disbursements, $2,404.95: balance in hand, $5,766.25. Receipts on account of the First Bank of Merçur. $4,679.15; disbursements, $108.53; balance in hand, $4,570.62. Total cash on hand October 31, 1896, $10,336.87.
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RECEIVERS' SALE. IN THE DISTRICT COURT OF SALT Lake county, Utah, in chancery: Geyser Mining Co., et al., plaintiffs, VS. the Bank of Salt Lake, the First Bank of Mercur and James H. Bacon et al., defendants, and M. E. Mulvey et al., intervenors. Public notice is hereby given that in pursuance of an order and decree made and entered by said court in the above entitled cause, on the 30th day of January, 1897, that Frank Knox and C. H. Jacobs, receivers of the property and assets of the Bank of Salt Lake and the First Bank of Mercur, and James H. Bacon, doing business heretofore in said names respectively, appointed by said
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RECEIVERS' SALE. IN THE DISTRICT COURT OF SALT Lake county, Utah, in chancery: Geyser Mining Co., et al., plaintiffs, vs. the Bank of Salt Lake, the First Bank of Mercur and James H. Bacon et al., defendants, and M. E. Mulvey et al., intervenors. Public notice is hereby given that in pursuance of an order and decree made and entered by said court in the above entitled cause, on the 30th day of January. 1897, that Frank Knox and C. H. Jacobs, receivers of the property and assets of the Bank of Salt Lake and the First Bank of Mercur, and James H. Bacon, doing business heretofore in said names respectively, appointed by said
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RECEIVERS' SALE. IN THE DISTRICT COURT OF SALT Lake county, Utah, in chancery: Geyser Mining Co., et al., plaintiffs, vs. the Bank of Salt Lake, the First Bank of Mercur and James H. Bacon et al., defendants, and M. E. Mulvey et al., intervenors. Public notice is hereby given that in pursuance of an order and decree made and entered by said court in the above entitled cause, on the 30th day of January, 1897, that Frank Knox and C. H. Jacobs, receivers of the property and assets of the Bank of Salt Lake and the First Bank of Mercur, and James H. Bacon, doing business heretofore in said names respectively, appointed by said
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RECEIVERS' SALE. IN THE DISTRICT COURT OF SALT Lake county, Utah, in chancery: Geyser Mining Co., et al., plaintiffs, vs. the Bank of Salt Lake, the First Bank of Mercur and James H. Bacon et al., defendants, and M. E. Mulvey et al., intervenors. Public notice is hereby given that in pursuance of an order and decree made and entered by said court in the above entitled cause, on the 30th day of January. 1897, that Frank Knox and C. H. Jacobs, receivers of the property and assets of the Bank of Salt Lake and the First Bank of Mercur, and James H. Bacon, doing business heretofore in said names respectively, appointed by said
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RECEIVERS' SALE. IN THE DISTRICT COURT OF SALT Lake county, Utah, in chancery: Geyser Mining Co., et al., plaintiffs, vs. the Bank of Salt Lake, the First Bank of Mercur and James H. Bacon et al., defendants, and M. E. Mulvey et al., intervenors. Public notice is hereby given that in pursuance of an order and decree made and entered by said court in the above entitled cause, on the 30th day of January, 1897, that Frank Knox and C. H. Jacobs, receivers of the property and assets of the Bank of Salt Lake and the First Bank of Mercur, and James H. Bacon, doing business heretofore in said names respectively, appointed by said
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RECEIVERS' SALE. IN THE DISTRICT COURT OF SALT Lake county, Utah, in chancery: Geyser Mining Co., et al., plaintiffs, vs.. the Bank of Salt Lake, the First Bank of Mercur and James H. Bacon et al., defendants, and M. E. Mulvey et al., intervenors. Public notice is hereby given that in pursuance of an order and decree made and entered by said court in the above entitled cause, on the 30th day of January, 1897, that Frank Knox and C. H. Jacobs, receivers of the property and assets of the Bank of Salt Lake and the
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BANK OF SALT LAKE RECEIVERS Question of Compensation Argued and Taken Under Advisement. Judge Hiles yesterday morning resumed the hearing in the matter of compensation for the receivers of the Bank of Salt Lake and the First Bank of Mercur. Messrs. C. C. Dey, C. S. Varian and C. W. Bennett were examined and expressed the opinion that $6,000 would be a reasonable compensation. His honor took the matter under advisement and also the matter of authorizing the transfer to H. H. Rea of the assets of the banks, purchased by him.
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Suit Against Tunnicliff Dismissed. The suit brought by Frank Knox and C. H. Jacobs, receivers of the Bank of Salt Lake and the First Bank of Mercur against D. G. Tunnicliff, to recover for the estate of the bank certain stock in the Salt Lake Sanitarium company and the St. Anthony Canal company, was yesterdav dismissed on motion of the plaintiffs.
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MERCUR RIGHT IN IT Prosperity Surely Making I self Manifest in the Camp. BUSINESS BOOM IN EVIDENCE. Dern and Airls to Start a BankComing to the Front-Brokers Will Call a Halt. That the waves of prosperity are n W deshing against the shores of the at Merour district, 10 the informa1 on given to a NEWS reporter today by Mr. Joseph G. Jacobs, vice presicent and general manager of the Salt Lake and Merour railroad. Mr. Jacobs has occasion to spend the greater portion of his time in the camp referred to and he is thus placed in a fair position to watch the evolutions of the camp, whether progres. sive or otherwise. story to this paper is in ffect thats boom is on and that there is a great flurry in Mercur real estate with more building going on than at any time during the last eighteen months. This he attributes to the thorough and systematic development of the mines, which have shown greater ore bodies in the last three months than ever before. The West Dip country has also developed into a heavily mineralized area and with the opening up of many good properties there and the building of a new mill, the present condition 01 affairs is thus partially acceunted for. Another cause for approaching properity is the impression among mining men that Captain De Limar has resolved to erect a mill. These all have their tendencies to create 24 better feeling and beyond question are the prime reasons for t: e anticipated b om in Utah's great gold camp. Mr. Jacobs yesterday purchased for Messrs. John Dern and E. H. Airis the property recently occupied by the First bank of Mercur, which closed 1 B doors on the failure of the bank of Salt Lake. H. H. Rea, receiver of the de. funct concern, was the seller, and It is said that the property, which includes the bank building and fixtures, was sold for a mere bagatelle in comparison with its real value. It is understood that Messrs. Dern and Airls have in contemplation the starting of a beare in the near future, and as they are sutstantial and conservative business men, their efforts in that direction will no doubt be traught with good results. Tomorrow Mr. Jacobs will go out to the camp with a party of eastern gentlemen who are here for the purpose of looking up investments. They have several properties in view and may not leave this locality until they have tied up one or two of the district's promising propositions. Railroad business is also good in the camp, Mr. Jacobs stating that the tonnage of the road under his management, will be greater this month tuan at any like period in its history. It will probably reach 12,000 tons.
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IN BANKRUPT COURT AGAIN. Bacon Testifies That the Charges of Moon Are Untrue. ALLEGATIONS OF FRAUD. Affairs of James H. Bacon Have Been Heopened-Examination on Before Referee Baldwin. The further examination into the affairs of James H. Bacon, brought on by H. T. Moon, was began this morning before Referee Baldwin. Attorney James H. Bacon, on April 5, 1900, filed a petition in the federal court in voluntary bankruptcy. His petition stated that his liabilities amounted to $528,426.24, of which $129,462.73 was secured with Dalton and Lark, valued at about $13,454.48. The remaining $398,963.51 was unsecured. His assets were put down as amounting to $5,209.50, of which $5,000 was in a life insurance policy, and all was claimed exempt. He had between 530 and 540 creditors and the Bank of Salt Lake and First Bank of Mercur suspended operations. On September 10th last the petitioner was discharged from bankruptcy, but the bankruptcy act provides that a case may be reopened for examination within a year from the date of discharge, providing that a proper showing be made by creditors of the bankrupt. A petition was filed on Monday last by A. T. Moon, a creditor of Bacon to the extent of $8,000, part of which is assigned claim, and the court adjudged the petition to be of such weight that a further examination should be made before Referee Baldwin. Mr. Moon is represented by Attorney H. J. Dininny, and in the petition some rather sensational allegations were made and a further examination of Ba. con, Jeremiah Schenck, D. H. Schenck, Charlotte Hoadley of Chicago and H. H. Rea was asked for. The petition alleged that at the time James H. Bacon filed his petition in voluntary bankruptcy he was in possession of property to the value of $25,000 and over, above the amount stated It in the petition as his entire assets. was further alleged that this property, consisting of stocks and real estate in Idaho and Utah, was concealed from his creditors and held in secret trust for him by the above named parties, who it is asked shall be further examined. In the petition it is alleged that Bacon owned large interests in real estate in Idaho, probably of a value of $20,000, also at least one-half the stock of the American Mining and Trust company a corporation organized under the laws of Wyoming, and that this property was held in secret trust by Jeremiah Schenck and H. H. Rea. The petition states that all these facts may be proven by an examination of the books of the American Mining and Trust company. The Bank of Salt Lake, and the First Bank of Mercur, which have been kept by Bacon. It is further stated that at the time of the former proceedings nothing was known by the petitioner about these assets but that recent transfers of the stock of the trust company by the Schencks to Bacon confirm the allegations. The proceedings were begun "this morning before Referee Baldwin. Twomey and Twomey, representing Ba. con. H. J. Dininny, Jeremiah Schenck. D. H. Schenck, Charlotte Hoadley and H. H. Rea were present at 10 o'clock, and after preliminary marks by Judge Twomey, the examination of Jeremiah Schenck followed. and was continued for two hours when a recess was taken until two o'clock this after. noon. Nothing of a sensational nature occurred and the testimony of the wit. ness tended to show that the allegations made by A. T. Moon were untrue. The examination of Mr. Schenck was continued this afternoon on the affairs of the American Mining and Trust company and Mr. Bacon's connection with that company. He was cross examined by Attorney Dininny and there was quite a discussion concerning the cutting out of a page in Mr. Bacon's private book of expenditures, etc. It