The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-09
u. 3. District Court.


SPIT. 7.-Andreic B. Harton and othersps Barney
Corsc was the first jury trial in bankruptcy.
Mr. Corse is petitioner for the benefit of the act.
In his schedule he had placed an item of 100000
as due on abond and mortgage TO Israel COrse, I49
East broadway, at the same time remarkng that the
property for which the bond and mortgage had been
given, was subsequently sold by him 10 Jona
Thorne, who agreed to settle the mortgage, and it
was not probable the petitioner would be called
upon in respect TO it. This entry in the schedule
was declared by the plaintiffs, Corning majority
in number and amount of credltors,) to be "a false
and fictitious debt" A jury trial was solicited in
stanter by the petitioner, and now the issue. In
opening proceedings question arose to which
party should act in the affirmative. The Court de-
cided, that as the petitioner had sworn TO his sche-
dule being correct according to the best of his
knowledge and belief, the burthen of proof to the
contrary thrown upon the creditors and the latter
consequently appear as plaintiffs in the case. Israel
Corse, Gather OF Barney) was living at the time OF
the petition being presented, which was in February
last, but since deceased. His widow, Mrs Abigail
Corse, (step-mother OF the petitoner) appeared in
court. Some discussion arose as to whether testi-
could be received in evidence, and the Court deci-
ded that it was admissible. The testimony of Mr..
Barney Corse, (petitoner,) was then read He
states that his father, Israel Corse, died the 3lst
from 1921 to 1880. They were in the hide and
leather business at IA Jacob street On the 10th
June, 1925 deponent. (and his wife Mary +. Corse)
executed mortgage, accompanied by bond for
-
and lots, viz. nine in Cliff street, two in Ferry, two
in Vandewater, and one in Pearl. The principal
part OF the property came to him from Samuel Leg
gett. Mr. Israel Corse furnished the money to pur-
The main part of the property had been purchased
previous TO petitioner getting II, by Samuel Leggett
OF Israel Corse. 1t passed through Mr.. Leggetl to
Barney, as 1t was doubtful whether or not Mrs.
Corse would sign the deed to the latter,
she was suspicious and careful of her interests
IN relation to her dover. In lieu of her dover,
Israel Corse gave her bond, securing to her
the house in Vandewater street. in which they
at that time resided, during her life-the fur
nlture was to be hers outright, and he was to give
her the sum of $4,000 in the event OF her surviving
him. The property between Jacob and Pearl
streets was mostly unmproved at the tlme-it was
part of the Roosevelt estate, and had sugar house
on 1.-THE house on Pearl was 1888, the same which
stands there now, and the house on Jacob street Is
the same. Petitioner agreed that the rents should
go to Mr. Israel Corse in the way of interest, and all
the taxes and other expenditures relative TO them
were paid by Israel There was considerable de-
lay in getting the buildings up, owing to Cliff street
not being lumediatev. opened. After keeping the
property IN his name for five or six years, Barney
transferred il to his brother-in-law, iona. Thorne
the latter giving him 5000, and agreeing to settle
the mortgage, half of which petitioner gave TO his
sister, Mrs: Thorne. He did SO by direction of his
father. The name of the firm was Israel Corse and
Son, which was perfectly sound. The petitioner
never had property OF his own, except house at
the corner OF Ferry and Jacob streets, which he
solu LOT So,JU, ana lOst tne proceeds by being
drawn into loans and speculations Israel Corse was
worth S15O,O00 to $500 900 at the time buying the
real estate. In 1881 Israel Corse Withdrew from the
firm, and iona. Thsrne went in with Barney, they
continuing the business together They remained
about year, having made $1,000 over the expenses
OF their families. iona. Thorne assumed the debts
of the firm, and Israel Corse went in with him in
the spring Of 1892 under the firm of Corse & Thorne
In July, of that year. petitioner stopped payment,
owing 800, 900, and having $l5O,O06 in assets OF
Texas scrip and other securities In March, 1888,
he assigned to Edward Curtis, present collector OF
the port, who has made dividend TO the creditors
since OF or per cent. The household furniture OF
petitioner was included in the assignment II was
put up at auction, and bought in by Mr. Samuel
Legget for the benefit of petitioner and his family,
petitioner having married daughter OF Nr. Leg |
gett
The testimony of Mrs. Abigail Corse was then |
read She says in it she remembers, with sorrow, |
the time of the transfer to Mr. Leggett. Her hus-
band (Israe Corse) told her he had good offer for
the unimproved land he had bought Of the Roose- |
welt estate, and wished her to sign the deed. She
was finally induced to do so from his telling her that
he did not mean to build on it, and offering her, in
addition, the right Of house, the furniture, and |