Book Description
Then, a federal judge in Arkansas by the name of Charles Baker got involved, took jurisdiction, and declared it a federal bankruptcy case since the James Brothers owned elevators in Missouri and Arkansas. From the beginning, Judge Baker contended that since the grain was in the elevator at the time the owners went bankrupt, he was going to sell the grain free and clear of all liens to payoff the debts of the elevator owners. The judge claimed that all the property, equipment, and grain were part of the elevator owners' assets, with an estimated value of $5 to $6 million. Judge Baker appointed Robert Lindsey as the trustee who would oversee the bankruptcy procedures. Robert Lindsey would receive a percentage of all the assets as payment for his services during the whole bankruptcy process. I immediately started saying, "Hey, this is not right. The grain in the elevators is our private property and we have warehouse receipts to prove it. No one should have the right to sell our private property to pay off someone else's debts."
