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But not so with the Bank of Adot. Aaron Logan got his order for receivership before his public went frantic and while cash was yet available. Under court order he was proceeding to thaw out the frozen items of assets, and planned to open the institution to those who would limit their withdrawals to stated amounts.
First, they demand an increase of wages that would force us into a receivership sooner or later and again they demand the adoption of a cooperative plan which eventually would make them owners of the mines, if there were any possibility of it working, and there isn't. It's a most ridiculous hold-up, the responsibility for which rests with a few fanatical leaders of doubtful integrity."
The situation is admittedly dangerous; and it is imperative that a speedy remedy be sought; for the heirs and assigns of an estate which has been mismanaged to the brink of bankruptcy must secure at all costs that no public receivership is made. What is the remedy? One example may be quoted.
Ridgway's sense of personal loss and outrage almost obliterated for the moment his appreciation of the business loss. The motion to revoke the receivership of the Supply Company was being argued when Ridgway entered the court-room.
France would then find, that she had hitherto been contending only against principalities, powers, and authorities, but that she had now to contend against a people." The death of Lord Lake this year removed those difficulties which had, ever since the appointment of Sheridan to the receivership of the Duchy of Cornwall, stood in the way of his reaping the full advantages of that office.
This unsympathetic point of view was sufficiently defined in a bit of shop-talk between Harnwicke, the cold-blooded, and his traffic manager in the office of the Overland Short Line the morning after the newspaper announcement of the receivership. "I told you they were in deep water," said the lawyer, confidently.
A receivership and reorganization seemed absolutely necessary, and in February, 1896, the receivership was announced. With the property now in the hands of the courts, the opportunity at last came to make real the reforms which had been proposed and begun nearly a decade earlier under the wise but quickly terminated administration of Samuel Spencer.
"That's right, you ask him; but be sure to tell him that I want it to be that way. Morton won't make any fuss about it. I guess you do enough work for him. What's he paying you, Daniel?" "Eighteen hundred since he got the paper-mill receivership." She made no comment, but received the intelligence in silence.
Sell every foot of Gaston dirt that stands in your name; and while you are about it, sell those six lots for me in Subdivision Five. More than that, do it pretty soon." Hunnicott promised, in the brokerage affair, at least. Then he switched the talk to the receivership. "Still up in the air, are you, in the railroad grab case?" Kent nodded. "No news of MacFarlane?" "Plenty of it.
"Well, Thatcher brought that suit, thinking that if he could throw the paper into a receivership he'd run up the price when it came to be sold and shake me out. He knew, too, that it would annoy Mrs. Owen to be involved in litigation. It's surprising that he would incur her wrath himself; she's always been mighty decent to Ed and kind to his boy.
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