The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1851-06-12
NEW ORLEANS:
MORNING, JUNE -, 1851

FIFTH DISTRICT CoURT.-In this court, the
case Of Theodore o. Stark, Receiver of the Atcba
taava Bank u.s. Burke, Watt, ct al. came I'D YES.
terday for TRIAL. This case is one of some import.
ance, and has been in litigation several wears.
The petitioner alleges that he has been duy an.
pointed Receiver of the Atchafalaya Railroad and
Banking Company; that on or about the 18th day
of March, 1912, a judgment of dissolution and for
fixture of charter was finally rendered at the suit
of the State Us. the said Banking Company; thai,
the said judgment has become " Res judicata -
that the functions of other representatives of said
bank, heretofore appointed, had expired in April,
1919, leaving the claims of many creditors, and for
large amount, unpaid and unprovided for. Petit
toner further states, that the said Banking Com
pany is indebted to various persons, in the sum of
about one hundred and twenty thousand one hun.
dred and fifty dollars he farther affrms that all
the property and rights which belonged to said
Corporation, except the obligations to it, of its Cor.
porators, for their subscription to its capital stock,
have been exhausted and consumed during the ad.
minisration of its affairs, in paying the debts
thereof; that each and every Corporator of said
Company engaged to pay one hundred dollars on
each and every share of stock so subscribed for.
and that said obligations could not be enforced
without violation of the Constitution of the United
States; that in order TO pay the debts due by the
said Corporation, and to defay expenses, it will be
necessary to require the payment from each stock.
holder, of such sum, added 10 the pawn Mt
already made, will make up the sum of 500 on
each and every share so subscribed for Therefore,
petitioner affrms that defendants are indebted in
The sum mentioned in the petition, amounting to
several hundred thousand dollars, and he prays
judgment for the same
The answers are general denial--a denial that
the bank is indebted alleged, and especially
denies the reality and obligation of the several
debts enumerated. The defendants further state,
that by the act of the 18th of May 1899, the CAPT
lars per stock SHARE that said act has been since
recognized by acts of The Legislature, and that the
lquldators appointed to the bank, under the laws
oil the 5 ate, are prohibited from sueng for any
sum over fifty dollars share and that the receiver
sueing herein is bound by said prohibition.
Defendants further plead that they are exempt,
and released from all responsibility if any existed,
by the conscation OF the OF the bank by the
Legislature of this State, and the action of the
llqnidators. commissioners and receivers under the
same-and that the assets of the company were
lost and wasted by the mal-adminstration of said
officers appointed under said laws Defendants
plead the prescription of fine and ten years to sue
the debts enumerated in said petition and to sue
others that may be presented attempted to be
proved.
here are some seventy stockholders made defen.
dants, and large number of the members of the
bar, one engaged in the case. 1t will likely take
up the time OF the court for several days