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Domestic News
February 25, 1933
The Key West Citizen
Key West, Monroe County, Florida
What is this article about?
In Tallahassee on Feb. 25, former Comptroller Ernest Amos defended $1,184,160 payments to attorneys for closed state banks, stating they protected depositors amid complex litigation for 148 trusts over seven years.
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AMOS TALKS ON PAYMENTS FROM CLOSED BANKS
FORMER COMPTROLLER CLAIMS SUMS PAID ATTORNEYS WERE FOR BEST INTEREST OF DEPOSITORS
(By Associated Press)
TALLAHASSEE, Feb. 25.-
Payment of $1,184,160 to attorneys representing closed state banks was described today by former Comptroller Ernest Amos as a "large sum," but he added it was "for protection of depositors interests."
Published reports on payments to attorneys based on records in the office of Comptroller Lee, Amos' successor, was answered by Amos in a lengthy statement, which in part reads: "A great deal of important and complicated litigation in both state and federal courts, was involved in the liquidation of 148 trusts throughout the seven-year period.
"Litigation was necessary to recover and convert assets into cash as well as to protect them. All for the protection of depositors interests.
"Many troublesome legal questions were settled by courts of last resorts, even to supreme court of the United States, paving the way and minimizing legal expenses of liquidations thereafter."
FORMER COMPTROLLER CLAIMS SUMS PAID ATTORNEYS WERE FOR BEST INTEREST OF DEPOSITORS
(By Associated Press)
TALLAHASSEE, Feb. 25.-
Payment of $1,184,160 to attorneys representing closed state banks was described today by former Comptroller Ernest Amos as a "large sum," but he added it was "for protection of depositors interests."
Published reports on payments to attorneys based on records in the office of Comptroller Lee, Amos' successor, was answered by Amos in a lengthy statement, which in part reads: "A great deal of important and complicated litigation in both state and federal courts, was involved in the liquidation of 148 trusts throughout the seven-year period.
"Litigation was necessary to recover and convert assets into cash as well as to protect them. All for the protection of depositors interests.
"Many troublesome legal questions were settled by courts of last resorts, even to supreme court of the United States, paving the way and minimizing legal expenses of liquidations thereafter."
What sub-type of article is it?
Economic
Legal Or Court
What keywords are associated?
Bank Liquidations
Attorneys Payments
Depositors Protection
Ernest Amos
Court Litigation
What entities or persons were involved?
Ernest Amos
Comptroller Lee
Where did it happen?
Tallahassee
Domestic News Details
Primary Location
Tallahassee
Event Date
Feb. 25
Key Persons
Ernest Amos
Comptroller Lee
Outcome
payment of $1,184,160 to attorneys representing closed state banks
Event Details
Former Comptroller Ernest Amos described the payment as a large sum but for the protection of depositors' interests, involving important and complicated litigation in state and federal courts for liquidating 148 trusts over seven years to recover and convert assets into cash.