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1396 �CLUTZCN cL . 1396 .,�hereas , it was proven at the trial in the United States District court in Little hock, _�rkansas, wherein the city of Little Hock was plaintiff and L . Fadfield, and Fidelity Deposit Company -:Jere defendants , that the city of Little 1-pock had, by its ordinance , ordered and directed L . D. Hadfield, as treasurer of the city of Little Rock, to deposit in the American Lxchange Trust Company, the Peoples Trust Company, t. e Union Trust Cor_pany and the E&nI ers Trust Co pany the _coney that was on deposit in the respective banks when they ceased to do business . And , whereas , it was proven that a short time before the American Exchange Trust Company ceased to do business , Mr. Hadfield informed the mayor, the board of public affairs and the chairman of the finance committee of the city council that he desired to withdraw the deposit in the American Lx- change Trust Company, and after a conference with those city officials he was instructed by them to leave the money on deposit in said bank, and to accept from said bank a suffi- cient amount of bonds tc cover said deposit, which instructions he followed. And , whereas, after said LAmerican Exchange Trust Com- pany failed, the liquidating agent of that bank recovered through the courts the bonds that were deposited with Is. Hadfield as collateral for the deposits . And, ,a e- eas , in said trial in the United States Dist- rict Court, a judgment was rendered wherein the cause was decided aaversely to the city of Little Rock, and its com- plaint dismissed. And, whereas, an appeal from said judgment v uld in- volve expensive , and perhaps fruitless litigation for the city of Little Rock. And , whereas , it is the opinion of the city council that the money on deposit in the Peoples Trust Company will finally be paid to the city of Little Rock approximately in full. And, whereas , the city council finds that C . D. Had- field, as treasurer of the city of Little Rock, in depositing the money in the above named respective banks, and in failing to withdraw the deposit from the American Lxch.an=re Trust Cowrany, as trying in utmost ,Tcod faith tc work in harmony and cooperation with the ether elective officers of the city of Little Rock. And that in his conduct he was following instructions from the mayor and the Little Rock city council, and was free from any fault cr negligence on his part. There-fore, be it resolved by the Little Rock City Council that the city attorn;:y be and he is hereby instructed to dismiss his appeal from the judgment of the United States District Court wherein it was decided that C . D. Hadfield and Fidelity & Deposit Company are not liable for the actions of the said C . D. Hadfield. And further, that he be and he is hereby instructed to dismiss the suits pendins in the Pulaski Chancery Court against Bankers Trust Company and Union Trust Company. Pr: /az - /41 -cam Adopted: February 16, 1937 Attest. Approved: City Clerk. Mayor.