The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-10
Price Two Cents.
Court OF Chancery,
Before Vice Chancellor McCoun.


JAN. 9.The North .qmerican Trust and Banking Com
Pany-The of David Leavit who was appointed Re-
Gse.ver against Thomas g. Tamadge, Henry Yates and
VIM. Curtis Noyes is and has been for some DAYS
past under argument before the Vice Chancellor From
the arguments and from sundry petitions and bills hled,
We have gathered condensed the follow ing
OF facts:
The Association formed July H. 1888 Its original
capital S2OO0OO0, which afterwards increased
to - 900, or Whereabouts.
by sworn official returns made to the Comptroller on
the first Monday OF July ls4O and the first Monday of
January iS4l appeared that the capital of Associa
uon sworn toy exceeded each those days.
In the spring of ls4O and before the returns Of July
uhoer three several Deeds each bearing February
isAo land called the million, first hall million
coma nan mullen trust deeds) Richard NJ Batchford
John Graham, and Lewis Curtis bones and mort ages
me ASSOCIATION to an amount ding 81 900
iShed part OF their capita stock, to secure 1900
oonus Oh tns Association, made able to Walter Mead
or his assigns, each for the Of f25O sterling and
amounting IN the aggregate s2oooOoo These bonds
were payable in London of them in Februry Is45
and part in February 1917 with interest payable semi.
annually, and are now I'd by Palmers Mackillop Dent
Co.. London, and 9th parties in various parts Of Eu-
rope.
In November si the officers of the Association trans
ferred to Richard Blatchord and James b. Murray a.
sets and securities Of the Association the amount OF
$4,000 to sec Ire post notes, bearing date with the
payable time, and all of which held by Palmers
Macklop Dent & Co. London.
Thorn G. Tallmadge, President OF the Association on
the 9TH January lS4 transferred to Thomas g.
Wm Curtis Meyers, and Henry Yates other propery and
assets OF the Association to the amount of 900 to
81 500 pay able to Elan Fl. Gibbs young man. clerk in
the Bank and amounting in the $500 and
payable in thirteen months after date with interest and
bearing date Dec 49, $780, date as the trust deed
The 4th section OF the Act Of May l4h 1910 declares
that "No Banking Association or individual banker
such, shall issue put in circulation any bill note
said Association or individual banker unless the
shall be made payable demand and without Interest,"
and any violation oil this section by officer member
of Banking Association, by any individual banker
shall be deemed and adjudged msdemeanor, punishable
by fine imprisonment BOTH the discretion Of the
Court having cognizance thereof The under the
Blachford and Murray trust and under the Tamadge,
Meyers and Yates trust all purported be by the
Association and all issued alter the law Of May H.
ls4O
On or about August 25.h lslO Thomas G. Tallmadee
President Of said Association transferred to r. NJ Batch
ford and Thomas G. Tallmadge other securities and effects
OF said Association amounting to about the sum OF 1881 900
to hold in trust Tor the Governor Co. OF the Bank Of
England.
On the soth August Is4l injunction was granted at
Albany by Chancellor Walworth against the Association.
M officers and directors and an order for the appointment
of a receiver.
On about the 3ls August is4l the officers of SAID
Association transferred to Francis Griffin Esq. other
assets amounting about hold in either
for the benefit OF Holord Co., bankers OF London, the
Real Estate Bank ofArkansas.
And about the September ls4l. the officers of
the Association transferred to Daniel f. Tylee other
assets amounting to about $40 for the benefit OF John
l. Graham. Thomas f. Davis Daniel T. Tylee Joseph d.
Beers and other directors officers Of said Association.
The bill under which the injunction was granted was
filed about 26th August, lS4l.
Mr. Leavilt appointed receiver under the order Of
August &c. lS4 and entered upon his duties in the latter
part oil Sept. lS4l.
The President Thos. G. Tallmadge and VIM. R. Crook,
the Goth Oct ls4l, before sde Muster in Chancery.
and under OATH transferred Mr. Leav the assets
ects and property of the Assoc aon by schedule
ed to the deed of assignment.
See recorded in Lib. 42i of nveyances, page 232 at
the Registers office in this city, assignment, with the
schedule annexed
large mahogany desk and OF drawers, mahoga
ny office clock, green covered table, large curled ma
yards Brussels carpet yards oil CLOTH map of Auburn
covered desk stools : tons coal in vault gilt office
chairs, stools. gold balance stand, yards in
grain Competing, locking glass; circular desk black
trunk tin trunks, blanks blank pap r, inksands, can
dlesticks SC red covered setee spic trays water
barrel stuyvcssnts check $4,000. cleck on Real Es
tate Bank Miss sll3o oe; Arkansas coupon sl7 10; j.
w. Webbs $1,000, c. J. Burchles % 1897 IS; H.
L. Thompson s5l5 81 do $5l5 81, j. D. Beers note 26
1886 s5 do sa7 900 ~ T. L. servoss $500 D. Clark
protested sso4 o. S. D. bakns bond ssa o. F. Camp
bells do S295o s. d. Dakins do $4,000 A. Omans do
$780, J. w webb's do $4,000 Geo Borrens no 1886 S.
II. G. Eastmans do ssl7 u.s. J. Ketchums do s05s 49, W.
Carers do 1896 o. Alexander Sales do $3l9 TO- South
ern Lille Insurance and Trust Co Ssi s So do $3.50 s62 So
large and small, Hickman Martins note $780, Thomas
Ormen $500 do s464, r. P. Desilver sl76 SO. s. Ray
$3.50 90 G. T. Bunting $780, 8. Billings $780, White Ri
chards $500, Veader & Little $500, Brown McCutchen
ss26 49, John Sanford $500. do $1,000. w. Cunningham
sI9il 81, Root and Leonard Si30l Is, do $1,000.
Recorded in the office of Register the City and Coun
~ Of New York. in Lib AGA of Cons page 232, March
a''h' lS'a' at 40 minutes past W r NJ n,rNN
We understand that Mr. Leavitt is about to file bills to
set aside all these trusts and that under bill filed by the
trustees in the million and first half million trust John j.
Putnam has been appointed special receiver Of the proper
ty included in those two trusts and that Mr. Leavtts
bill in the trusts million and first half million)
will embrace history Of this Bank and will show how
its stockholders have been deprived of their property and
who and what party have been benefited by 1t. We
told that the claims already presented to the receiver
against the Association exceed a million ind half OF
dollars.
George Wood, John Cleaveland, NJ. 8. Bidwe, and g.
". Titus Esquires, for Mr.. Leavtt-B. +. Butler, A.
Foot Charles Edwards, and X. NJ. Blachfod Esqures,
for the defence.