The Yazoo City weekly Whig., 1854-08-11


il. s Bueknel 6 Stanton ana ll. 3. Hamer)
and M B Hamer 3 Co. q Yazoo city
meaning Stanton, Buckns and Hamer
we're indebted Is themselves that is, 70
Buekner Stanton u Hamef of New Or
leans inthe sum Of S7oo.oo0 This uas
the claim which was sold At auction There
being no competition, no one imagining
that such ! claim would give any fighttCa
dividend in Mississippi, this balance vas
purchased BY gentleman in thil city for
a few dollars.
The claim however was sent to Mississip-
pi and the holder demanded participation
in the distribution Of the assetsof the Mis-
sissippi house. Hwas refused by the Uni
ted States District Court. on which an ap-
peal was taken to the United States Circuit
Court. and Judge Daniels decreed, that the
holder of this claim was entitled to pro
rata dividend out Of the. assets Of the Mis-
sissippi estate. It was accordingly paid BY
the assignee, the holder receiving his pro-
rata. II March last J. 1. Calcote, Of Nat
chez received transfer from the original
purchaser ofthis balance Of the New Or.
leans house against the Mississippi houses
and also from Montgomery q Boyd,
transfer Of a claim they held against Buck
ner Stanton q Co., for professional services
amounting to about Sl 800. On these
claims interest was estimated which made
up total of over one million Of dollars
On the same day Of the transfer. Calcote
fled his bill in Chancery IN the Chancery
Court Of Mississippi praying the court to
set by the discharge in bankruptcy Of defend
ants and grant decree in his favor, for the
amount Of his claim, preferring charges Of
fraud against defendants in making pay
ments and settlements in the regular course
oftheir business within The six months Pri-
or to their application for the benefit Of the
bankrupt act. The charge Of fraud .'hath
this extent no more" But Buckner Stan
ton G CO., laboring under the conviction
that they would weather the storm, went
on paying their debts and settling with
their customers and creditors, when sud-
denly by an unlocked for event. they dis
covered that amid the universal crash, they
would have to succumb. This is called
fraud in legal parlance, but it is in fact an
evidence Of an honest intent, when man
clinging to the last plank bears himself up
against the waves that roll around him
meeting all bis obligations in the firm spirit
and confidence Of riding the storm and gil
ding into harbor Of safety. But the law
chooses to regard such acts as fraudulent
and suspicious, and they are alleged as
grounds to invalidate the certificate of bank
ruptcy granted to Buckner, Stanton G co..
and render them liable for 500. 600 with
interest for debt which they owed them
selves.
Such is the real estate of the case be-
fore the chancery court in Mississippi as
far as we can learn Ii our statement con-
tains any error we would gladly correct it.
To the bill Of the mplainant the counsel
for defendant fled bill of demurrer to the
jurisdiction Of the State Courts over sub
iect which the constitution and laws have
assigned to the United States courts, where
the matter had originated and ought to be
concluded; and also excepting to the plain
aifs right Of action.
Itwas this demurrer that was tried before
Attorney General Glenn sitting as chancel-
Tor of Mississippi and on which he rendered
the decision overruling the exceptions and
ordering the defendants to answer by the
first of October next; and from this decision
the defendants have taken an appeal to the
High court of Errors and Appeals.