Jasper County Democrat, Volume 7, Number 39, Rensselaer, Jasper County, 31 December 1904 — NO DIVIDEND YET IN SIGHT. [ARTICLE]

NO DIVIDEND YET IN SIGHT.

McCoy Bank Creditors Not Likely to Receive Any Dividend for Some Month*. There is not much prospect of any dividend being declared to creditors of the McCoy bank for at least two or three months yet, or until t))e Jordan township real estate is sdld. While the verbal order of sale was made by Referee Bowers a month or more ago, he has not yet signed the order of sale, we are informed. As soon as this order is received the trustee will go ahead with the sale. It must be advertised for three weeks, and will be sold in whole or in part, as will best inure to the benefit of the creditors. The terms will be one-half cash, J in six months and £ in twelve months. The unpaid notes held as collateral by the Central Trust Co., of Chicago were returned recently, they having collected enough to pay the amount of the note the McCoys had given them and for which this collateral was held. The face value of the notes returned is about $30,000, and the trustee roughly estimates that $20,000 will be collected of these, which will, of course, go into the general fund of asset*. The bank closed its doors on April 18, 1904, and it is scarcely likely from the present outlook that any dividend will be declared within the first year.