The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-10-30
Law Intelligence.


SUPERIOR CoURT, Oct 2S-Before Judge Wander
poel-Joseph a. Tosin Co, vs Robert L. Smith and
Of debt of $780, which had been compromised at so
per the folio 1t appeared
1886 smith Blackwood of st. Louis who were in,
debted to the defe In about asked for an
extension Mr. Henderson, one of the defendants,
Immediately went to St Louis and the 9TH of April
obtai ned from Smith against the consent of Black
wood transfer OF goods and bills receivable to the
nominal amount of over $4,000 MIR. II. L. Smith, ON
the 10th Of April, stopped payment; his partner Hem
derson, still being in St Louis Henderson, being
view Of SUSTAINING It, prooeeSed to Ssross ene
fee of the goods he had received from Smith Black
wood, and succeeded in remitting $4,000 to New
York before he heard of the failure Of his house,
on receiving which he obliged to assign
the remainder of the assets, amounting nomnally
be applied towards the payment of certain drafts for
$4,000 which Smith Henderson had accepted for
iudebednes of s73 OOo On the LIST Of May, 1916 Mr.
Henderson being still absent, MIR Smith IN ide state.
ment Of his affairs in which he placed the $4,000
ceved from Mr. Henderson since the 10th of April,
among his good assets, and the balance of the
$4,000 viz: $4,000 he placed among his doubtful
assets. He then exhibited this statement to
vera Of the largest creditors Of Smith Hender-
son, informing them that MIR. Henderson had got
Il was rubject to dcuties owing to the opposton Of
Blackwood to the transfer These creditors, there
per cent, secured which he did On the 18th of Nav
the plaintiffs compromised their claims at SO per cent
with an addition Of some interest This action was
that MIR Smith should not have Chased the $4s Ooo
remaining unpaid the debt of Smith & Blackwood,
as doubtful debt, and that far from being doubt
full 1t was fully secured The DEFENDANTS evidence
showed that the assets at st Louis to represent this
$4800 ultimately realized about $40 900 The deson-
ants commended that this result sho we'd that Mr..
Smith was justifedn considering the s4s 600 as doub-
ul assets and also that the threat of that
he would set aside the transfer to Henderson as being
void, nd the probability of Henderson being obliged
to assign the property to the holders of the accep
tances above mentioned, prevented its being oassed
under any other head than doubtful The plaintiffs
also commended that another debt, which MIR. Smith
bad cased a. doubtful being S36 000 due by Shields
Blood & Co.. Of Nashville, not doubtful debt.
The evidence shwwed that Of Shields, Blood &
Co had been protested In New York on the 22d OF
April that Smith He nderson had security for tire
debt, and that it had ultimately produced between
SIS 600 to SIG 600 and that MIR Smith fully ius-
fed In considering II as doubtful debt The dsfen-
da nts also contended that all that had been realised
from the assets Of the firm Of Smith Henderson, had
been applied to the payment Of their debts that Mr.
He had never touched Of the assets the
old firm. and had again gone into business capital
furnished by srelatve; that by prudent meut
email surplus had been realized out of the assets by
MIR Smith over and abeve the so per cent, aud that
he afterwards voluntarily distributed 1t among tn,
creditors, who had compromised at that rate The
distribution OF this surplus was proved by q large
number Of there creditors
At O'Clock the jury came into Court and stated
that they were unable TO and were discharged
IMPoRrArr DEcIsIor.-Ths celebrated N. Y fire
cases were disposed ofast week In the N Jersey Court
Of Errors and appeals, In session at Trenton-the
vs. Lawrence, being reversed. This suit agasnst
the Mayor of New York, for damages claimed by tho
plaintiffs for blowing up their houses In order to stop
ded against the plaintiffs The Court of Errors and
Appeals has now reversed their decision There are
thirty suits and it has been agreed among the
parties that ali oftbem should abide the event Of the
one just settled. The opinion Of the Court las We
learn by the State Gatsffe delivered last week by
Judge Nevius and the Chancellor, and Judge Mccar-