Jasper County Democrat, Volume 7, Number 8, Rensselaer, Jasper County, 28 May 1904 — BANKRUPTCY PROCEEDINGS. [ARTICLE]

BANKRUPTCY PROCEEDINGS.

Clove "lade to Throw ClcCoy Bank Matter Into Federal Court. A petition to throw the McCoy bank matter into the bankruptcy courts is said to have been sent in to the federal court at Indianaaolis and a hearing will probably be had in a few days. The petition is signed by some of the bank’s creditors, among whom are said to be J. J. Fry of Roselawn, A. J. Brenner of the Makeever House, and Tony Strickfaden. There is said to have been some disatisfaction among other outside creditors, and we are told that if this move had not been made by the parties who signed the the petition, that others would have taken the matter up. It is thought that the federal officers will, or can delve deeper into the matter than the assignee, having greater power, and that if there are matters of a criminal nature connected with the wrecking of the bank, they will be and the parties punished. It is argued by some who are opposed to the proceeding that the expense will be considerably more, but this is a debated question. The Democrat has thought from the first that this was the proper thing to do, and is glad to see that the preliminary steps toward that end have been taken. This is a matter in which the public, as well as the feumerons creditors, are interested, and, if any one is guilty criminally, they should be brought to justice. It may deter other would-be bank wreckers.