The German Savings Bank
Illinois Staats-Zeitung, Apr. 12, 1880
The receiver of the German Savings Bank last Friday made the following report on the transactions during the last month: Cash on hand March 1, $1,122.00; income from rent, estates, bills of exchange, reductions in taxes, $4,479.00; total $5,001.00. Payments for taxes, law costs, lawyers' fees, general expenses authorized by law $4,984.00; balance April 1, $606.00. Mr. James D. Flower, receiver of the bankrupt German institution.
The National Bank started an action yesterday in the Federal District Court against Elias Rosina, Henry E. and Moses E. Greenebaum and Gerehard Foreman, asking payments from the above of $35,378.29 to be paid into the liquidation fund. Similar action has been taken against A. Wiese. The amount in the case is $8,000.00.
The first claim promises a very interesting case. Mr. Elias Greenebaum had transferred his interests in the firm, Foreman and Greenebaum,
2amounting to $650,000.00, to his wife with the exception of $250,000 in cash and a personal claim of $50,000 against Henry and David Greenebaum when he left the above firm. The transfer document, dated May 14, 1874, had been kept a secret and had only been made public after the firm Greenebaum and the related firms had gone bankrupt. According to the law of 1874 relating to married women, this transfer is not valid as long as man and wife lived together, the transfer had officially not been registered. It must, therefore, be regarded as a fraud and is not binding on the creditors.
He demands annulment of the transfer and appointment of a receiver.
