The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-20
Law Intelligence.

~ CIscUIr CouRr.-Jan is.-Before Judge Morse
re farmeri Lean and Trust Co jonathan Chiids
MS was Al action OF assumps brought by the com.
pany against the defendant recover sac 600 with in
terest IL appeared that In February 1880 Mr. ChIlds
borrowed from the plaintiffs the sum sought to be
recovered fer which he gave his nos bearing interest
at per cent, and collateral security he trsn,f.rred
TO them 3Oo shares of the stock OF the company with
liberty to sell 1t at the board of brokers il they should
think proper The loan It further appeared was not
paid ia cash but Mr. Chds received the certificate OF
the company bearing interest per cent upon which
he Was to raise the money, of which ne sold at
per cent thereby mourning he alleges loss Of three
per cent In February 1910, the note became due and
on the 5th of that month. he hed a bill in CHANGER,
charging that the loan luxurious and that the
pany had adopted mode of dealing not authorized BY
their charter, and praying that Injunction might is
sue TO rsstrain them from proceeding against him at law
on foot OF the note and that 1t might b. delivered
be cancelled He then threatened to bring the after
under the notice of the Legislature, and to have
luton passed to institute inquiry into the proceed
ngs and affairs Of the company Upon this threat being
held out, the company became alarmed (the business
and monetary affairs of the country being at the time IA
very unseJled state) and despatched Colonel Graham
who then director and the institution
TO Albany to see and confer with MIR Chiids Colonel
Graham had an interview with Mr. Childs Ia Albany
and WAS referred by him to Mr. sbley and Mr. Worden
his lawyers, o ne OF whom (Nr WordeD) was member
OF Assembly, and the other member Of the Senate T.
appeared from the testimony of Col Graham, that Ia
the interview between him and MIR sibey that the lat
ter gentleman stated that the proceedings of the
pany would be brought under the notice OF the Legs
lature aud that resolution prepared and would he
offered, either in the Senate House OF Representa-
uves to institute the most searching inquiry into tn,
affairs of the bank Col Graham remonstrated against
proceeding
and urged that In all probability if carried out would
prove most disastrous to the bank, to the public
generally upon which Me- Sibey advised that settle
ment should be made with MIR Childs Negotiations
then epteerd into between the bank and MIR. Chlds,
which ended in written agreement of the following i'm
port, to wit: First That the Chanoery suit should be
dismrsed, each party to pay its COSTS Second That
Mr. Childs should not by himself through his agents
max application to the Lsgisat relation the
affairs or the bank and thirdly that, he had
settled with the North American Trust and Banking
Company, transaction then pending between him and
dred shares of the ronawanda Railroad stock, which
he had heretofore hypotheoated with them he would
pay the Farmers Loan and Trust Company the amount
OF his notet; the plaintiffs their part stipuatng to
both of which done 1t appears that the Chance.
ry suit dismissed that nothing further done In
regard to bringing the affairs of the Bauk under the
notice or the Legislature; and that tho Tonawando
Rsiroad stock was rs-transferred to Mr. Chilas and
that hs declined to the amount of his note the
ground OF the isgslity of the original transaction
The plaintiffs contend that the loan in It's incipenoy
was strictly legal and insist that they have right
cover on two grounds thas the agreement to give
and cancel the note Illegal and void, the conde-
ration being fraudulent immoral and contrary pub
lie policy they having been forced to agree TO it under
threat made by Mr. Chds bring them before the Leg
sleure and that in this aspect of the
in the same state in which they before 1t
cuted and therefore, thoy entitled
notesecondy that II the court should hold hs to
the subsequent promise Of Mr. Chids to pay the note
when his Ionawanda Railroad stock transferred to
him
The cashier of the bank, Col Graham, and another
witness, examined on behalf of the plaintiffs the
first to prove the Loan the second to prove the facts and
circumstances under which the agreement between tho
plaintiffs ami defendant entered into and executed
and the last to provehat the Tonawsnds stock
transferred to defendant-after which the plaintiffs
counsel rested and the court adjourned For plsntfs
Mr. w G. Noyes. For defendant Messrs +. Griffin, X.
". Morrison and j. c. Smith
CoURr GENERAL SESSIONS Jan. l9.-Before Re-
sordsr Scott, and Aldermen De Forest and Kelly
Grand Jury DschGrged--At the opening of the Court
this morning, the Grand Jury came in and presented
several bills OF ndctment at the same time announced
that they had disposed OF the matters which had been
brought before them whereupon they discharged
for the term.
No V,rdict.-The trial of John Montgomery
indictment for keeping dsorderly house then
eumed and additional called the
part of the defence The then summed up and
submitted to the jury who after being kept out until
nearly IL O'Clock, M into court and stated that
they were unable to agree upon verdict that they
them and bad from the time they went out, stood six to
Elk They were therefore, discharged from further
consideration of the The court then adjourned.
CALESpAR FOR THIS DAy.-Circuit Cout-40, n, SO,
OIL g. g. 66 7, 90, 10, go s. 49, 49, A. 80, 81 o. 40
9, 81. Common PLasIst Part 49, IS, 10, 81, 90, II,
49, u.s. Y, TO- 81, 50, 81, &c. 9l 3d. I'd Part 20, ~,
A. so, 81, So, SO, 60, 81, 81.
SUPREME COURT THE UNITED STATES Jan. IL, lS43
On motion of MIR. Webster, John Jay, Esq Of New
York, admitted attorney and counsellor Of this
court and, motion Of Mr. A T.. Greene Elijah
Ward, Esq of New York, admitted attorney and
counsellor Of this court No. a. Henry Mathewson, up
pellant VS.. w. w. Wetmores administrator. The ar
gument of this continued by MIR A C. Greene
for the appellant and by Mr. X. w Greene for the sp-
pellee.
SUPREME CoURT THE UNITED STATES, Jan l5.-On
the motion Of Hon. 4. &. Greene Clinton Hsring, ESD
of New York. admitted attorney and counsellor
of this court No. 4 Henry Mah.wson, appellant,
w w. Wetmore's administrator. The argument ofshis
continued by Messrs. X. w. Greene and
Whppe for the appellee Adjourned till tomorrow, IL
O'Clock, u. N.