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Hyder Weekly Herald
Hyder, Alaska
What is this article about?
The Bank of Hyder completed its first 50% dividend payment of $15,489.75 to depositors under District Court order by Judge Justin W. Harding. Receiver E. D. Haddon also paid $181.51 to the Hyder Postmaster. Bonds worth $15,000 were sold, reducing the Territory of Alaska's claim to $1,237.35, with 50% covered by the dividend. Remaining assets indicate full creditor payment upon settlement.
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With the completion of the first dividend payment of 50 percent authorized by the District Court, the Bank of Hyder will have returned to its depositors $15,489.75 under the order signed by Judge Justin W. Harding, according to Juneau reports. In addition, Receiver E. D. Haddon was also directed to pay one preferred claim to the Hyder Postmaster for $181.51.
In addition to these disbursements, bonds worth $15,000 deposited with the Territory of Alaska as security for deposits of Territorial funds were sold recently for a sufficient amount to reduce to $1,237.35 the claim of the Territory. Fifty per cent of this balance is covered by the dividend ordered paid to creditors.
A statement rendered the court by Receiver Haddon of the assets still to be realized upon is said in the reports to consist largely of loans to reputable business firms and individuals and indicates that the creditors will be paid in full when the bank's affairs are finally settled.
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Domestic News Details
Primary Location
Hyder, Alaska
Key Persons
Outcome
$15,489.75 dividend to depositors; $181.51 to hyder postmaster; territory of alaska claim reduced to $1,237.35 with 50% covered by dividend; assets indicate full payment to creditors upon settlement
Event Details
Completion of first 50 percent dividend payment authorized by District Court; Receiver directed to pay preferred claim to Hyder Postmaster; bonds deposited as security sold to reduce Territory claim; statement of remaining assets consists of loans to reputable firms and individuals