The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-08

o mililon dollars. II be that dchSe 70
enable the Of the banks TO get their notes at
nifty sixty the dollar and thus not only
themselves from ios but make handsome prodt at the
expense OF the pnlEc. The fact is Mr. Dunn h
two three Of tie banks and instead OF acting the
part of faithful officer between the people AMI the
banks he has espoused the cause Of the latter We
cannot believe that the people OF Indiana win tolerate
such conduct the part OF Of their esng officers
We were told yesterday that Mr. hnae has, In some
cases, allowed the Of banks u ~ i<s his Office
and cut from the bonds deposited by them the
due next January ons party thus obascd coupoas 10
him had deprecated 20 per cent and the Auditor was
hound by law to require further deposit Of security 70
that amount.
The Boston Journal of the 9th inst says
There an order to purchase 6fty shares Eastern
Railroad stock in the market which filled at 59one
per cent higher than Saturday. Boston and worcester
Central sympathized with New York prices, AMI was
offered at 80 buyer 90 days-no cash bid over 80 Amos
keag Manufacturing Company improved = per cent,
with moderate request for the shares ~ per cent pre-
MUM. Essex Company in demand at 70. Oh colony
was 6rmer so bid and for sale less than So Law
renee Machine Shop improved "a; % shares IN the mar
ket for sale at II. Worcester aud Nashua sold after
the adjournment OF the board at 3d. which Is decline
of per cent.
An important suit decided in the District Court
OF Ohio, at Cleveland, Monday last, Of which the
Cleveland Herald furnishes the following abstract:-
The suit of the creditors of the Firemens Insurance
Company Of Cleveland against the stockholders Of the
company yesterday decided in the District Court in
favor Of the plaintiffs.
The company was chartered April g. 1887 for thirty
years with capital stock of s250000, which might be
doubled or this stock than ten per cent was paid
in the stockholders giving their notes for the remain
der. By charter, they were individually liable for the
amount of their stock The "inssitution burst up''
through bad management Many Of the stock notes
were given up TO their makers upon the payment OF
nominal sums.
On the I'd of November, 1sl7, six judgments
covered against the company amounting without COSTS
to S22,359 ~.
On the 9th Of December 1s47, bill In chancery was
filed by ihe judgment creditors Vs. the company and
the stockholders ayerrng the insolvency of the COM
pany, and that the respondents, others than the COM
pany, stockholders, and indebted on stock notes to
the company.
The decree rendered yesterday was against twelve
fifteen Of the respondents for nearly OO0 amounts OF
judgments interest and costs.
The Providence Journal says that at the recent
sion of the Legislature act in relation to insurance
companies was passed synopsis of which Is as follows
An act in relation TO foreign fire and marine Insurance
companies passed The act provides for the appoint
ment of an attorney by foreign company doing bu-
siness in this State who shall be resident in the State
and upon whom service Of process may be had with like
effect II served upon the company Every company is
required to make annual return under OATH to the
general treasurer the first Monday in January, set
Ting forth in such return full and complete exhibit of
its liabilities assets, and condition generally Each
agent also required to make return under OATH to
the general treasurer of the amount of premiums
ceived by him for the year previously and to pay to the
State two per cent upon the amount of premiums lie is
also required to give bond TO make such return aud pay
said premiums. The Lieutenant Governor, Secretary Of
State and General Treasurer made board of insur
commissioners, and required 10 examine the
prepare and submit TO the General Assembly abstract
thereof and in chse return is unsatisfactory, have
power to examine The agent of the company making the
nc, and 10 require the company to comply with the
provisions of the act The companies also required
10 publish for the space or six weeks the saiemen. or ex
hibit OF their condition. No company is allowed to do
siDess which has not capital of one hunirea thou
and dollars actually paid in, in cash, whose charter
PERMITS to take in any one risk greater SUM than
the violation OF the provisions of this act which is TO
go into effect on the frst Monday Of uary next.
1t will be by the date Of the annexed letter that
it las been time in possession and should have
had earlier attention Its importance is much greater
than appears al glance In the first place, from the
fact that the honest portion of the commercial
nifty deeply injured by The operations of those who
continually engaged in smuggling and in the second
place from Tho fac. that there is a loose
where in the United States District Attorneys office It
is strongly suspected that too much sympathy exists
among certain officials for the parties implicated in
these frauds, and that their trials purposely post
pned Tie honest merchant stands chance al,ngsi'e
q thcae pcared swIder and it is for the protection u
those who do business upon strictly honorable prnci
lles Nat example should be made Of those who he
been indicted. We have doubt many Of these scoun.
dscs escape but If it is not asking much OF Mr.. Nc
hcon amt lie associates should like very much to
e Justice meed out to those who under nlict
ment. ana in.the power of the COURT H..
TO TIE EDITOR OF THE HERALD.
Having been for years a subscriber 10 your journal
take the liberty Of addressing to you inquiry of deep
importance 10 and other citizens of this city who are
importers.
gentleman my acquaintance, some eight months
ego a member Of 4 crand jury who found bills of
indictments against different individuals transactng
business in this city. Tor Smuggling and passing goods
through Custom House under false invoices These
individuals have not yet been brought to trial.
We want Ia know Vii ether the United States District
attorney Is not compelled @ put these men upon their
iraL As importers, demand il. We believe that
who detraud the reyenA and of legitimate
rroft should, when detected and Inflicted be brought
TO spetiy pani tment.
Of hat necessity ii otherwise Is there Of compelling
citizens ID grand lurics ii the parties iretea
not tried by courtsy There cc-tanly irust haze
suici NJ proof before the Grand lry. 10 tho
rptiies would not have been indicted. IMPORTER.
NEg SoaA, Oct. 30 1854.
Stock Exchange.