The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-08-12
PERCH PLACE, Miss. 2lst July, ls47.
Mississippi Banking.

Mississippi Banking.
The decision of the High Court made in of
the cases Of the Bank-the Commercial Bank Natchez
sent you General Barclay, agent, forget which, as
soon as they printed the decisions of the three
judges, Clayton and Sharkey agreeing Thatc her dis
senting This decision does not appear to be fully
deIstood out ofthe State at leas 1t good as far
as 1t went but does not the whole ground will
attempt brief explanation of its substance The Bris
law of s4s provided that upon Judgment of forfeit
ture the assets the bank should BIZ surrendered to
trustee who should in and make collections and a
ter paying the debts of the bank distribute the residue
among the stockholders The Briscoe law of 1916 d.
rects the assets upon judgment of forfeiture to be deli
vered to three trustees who to sell for cash at pub
lie auction all the real and the banks
the bills notes. and debts and the debtor to have the
privilege Of redeemng the purchaser at any time
within two years. by rendering the purchase money
twelve per cent interest. The Commercial Bank OF
Natchez condemned under the law Of lS43 and be.
fore the passage of the act of
that she should be quidated under the former law
sion OF her assets and collect them by suit or other
wise, and not compelled to sell them at auction as
by the act OF 1886 This therefore,
settle the of the Commercial Bank of Nachez-but
should adverse opinions hereafter govern the high
- not lawyer enough to decide whether the opinion
The court did not decide the law of to be void and
there Is no telling how they would decide that point
The Union Bank Is condemned under it, and the
trustees have advertised the sale of all her
auction in accordance with its provisions So you will
perceive this decision has bearing the question of
the Railroad Bank-for if he be condemned, It will
be under the last law and the assignment the only
chance of preserving her from sacrifice In re-
gard to the assignment no decision can we'll be given
until after the election-or believe there no regular
session OF the court before the LIST December next and
Judge Sharkey would not probably decide it Of its
regular order If the decision should be unfavorabe
the assignment, then the law of 1916 will take effect
railroad will possibly be held for the benefit Of stock
holders-for the creditors have nothing but what
exception to the general features of the law
In regard to Judge sharkey's election, scarcely
know what to say the majority Of the democrats in the
election Of ls45 between 1900 and 1900 hence the
effort to make 1t party question: and thus this
great many wings largely indebted to banks whose
interest will prompt them to vote against sharkey
though they will probably work under and CHARGE
the democrats with their vices In the Convention mt
Jackson, three four counties refused make nom
nation, and ut last, only accommodation made ;
but the party organ keeps Wilkuson's under
list Of democratic nominations and this will influence
many Still there are great many democratic who will
and Interested leaders ! met, yesterday morning on
his way to vicksburg, friend OF Judge Sharkey He
returning from of the counties in the district
where he has been going about weeks and he
seemed confident of the Judges He says that
debtors pay back at least moisy Of the
have borrowed.
am glad to the progress made in the compromise
though thing rather surprised viz In the copy
Colonel Robins showed Of Gen Barclays document
sssigness when supposed that hall that amount was
to have been paid to the general for his services In
curing the acquiescenoe Of the stockholders and cred
tors and for his trouble and expenses therein But the
most untoward occurrence have is an article In
the NeW York Herald Of 4th July, which holds up the
robbers-when In fact the whole plan of compromise
comes from the assignees and cannot be acted upon
rank Injustice to Colonel Robins and Is Calculated TO-
have any thing but favorable effect his associates
1t would appear from the publication, that 1t a
thing started ne last resort to get clear Of trustees
who about to squander the property under their
charge and not plan which OF them, four years
eore had used his best efforts to have carried into eff
ect and whose desire favorable result induced
im two years afterwards to visit New York and Pha.
depha to press upon ali parties az the only
feasible plan to realize all that the concern could ever
yield. Colonel Robins, you know s great prid.
of character and his most sincere wish
q compromise should wind up the with credit
to himself and associates and with profit to the cred
tors and without injury the debtors
too great and the oxertons he has made
II, show how ardently he desired It No man. either
stockhodor or creditor will so heartily rejoice he will
to see his plan adopted and oil he desires any edt
that he may be properly entitled to- for successfully
winding up trust Of five or six millions Of dollars il
must be any thing but agreeable him to read such Az
article that in the Herald whose columns four vear
ago. in l945 announced his efforts carry 1t out Mr.
walker too must feel that his ready scquiesccnce In
Colonel Robinss views to bring no credit to him
and doubt whether Judge Bodley will be
such display Of the apparent feeling of the Northern
You certainly know that Colonel Robbins first sug-
gested such a plan, and besought your influence In
us favor In ls43. You know how deeply
tilted he felt at the little favor 1t received Since
that time nnumerabe obstacles have been thrown in
its way-Brscoe laws quo and suits and the
whole question would to depend on the pre-
carlous result Of popular election while Col Robins
pest efforts TO overcome ell difficulties may be thwsrted
by ll-tmed publications
shall give you any items may collect. from time to
time in regard to the bank and assignees, progress
If can be of service to you in any business way, COM
mand me without apology
We have been informed by a lady who visited the
Qrey nuunerv on Monday that she was told by OF
the that immigrant child had been some little
time ago admitted into the nunnery apparently In good
health and placed in with eighteen other chill