New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1854-07-22
Caleots vs.. Buckner, Stanton { Co.

1t is cur general rule publish any reports or
tees of civil suits that pending in courts They
subjects for discussion in newspapers and it is
often difficult to make statement of them which will
not tend to discussion Such statements often tor
tured and shaped for private and interested Objects
create outside influence in suit to promote per-
sona feeling; and newspapers become thus unconscious
y the agents and of furhering such selfish ends
and improper purposes These reasons for our general
rule justify departure from it, when the nature OF suit
and Judgment not final in of the courts of the
country is msstated SO as reflect seriously upon the
character and credit of large mercantile house of this
city whose extensive connections in this and the adon
Ing States give almost public Importance every thing
| which relates to their affairs.
While we dsclaim any intention to discuss the merits
of suit pending it is certainly proper If not positive
duty where Misrepresentation have been made to give
the facts of suit correctly when they involve such eff
fects as have been indicated One day last week we
clipped from the Flag of the Union paper published
Jackson Miss report Of decision rendered by Act
ing Counsellor Glenn in the case Of Cacote vs. stan
ten and II. s, Buekner. Similar statements have ap-
peared in other papers The complaint of some of the
friends of the defendants that this report did not pre-
the the exeut of the decision correctly and
the public Importance of the suit have induced to in
stitute an inquiry into the facts which we find give
very different completion to the matter They appear
from examination Of the peadings to be as follows
In 1888 II s. Buckner, Frederick Stanton, and NJ. B.
Hamer formed commercial copartnershp. establishing
three houses all equally interested-one in New Orleans
under the style Of Buckner, Stanton & Co, one in
Natchez under the style of Stanton Buckner Co and
in YaZoo City under the style OF Ii, b. Hamer Co
The business Of these cotton factorage
general commission. As to interest and responsibility
they were denticay the same Their transactions
large and apparently profitable In the spring of 1872
the death of Hamer dissolved the firm In July follow
ing yielding the general commercial pressure and de-
rangement, Buckner, for Buckner Stanton Co., went
into bankruptcy and filed schedule of the assets and
liabilities Of each house of which he was partner as well
as his individual liabilities in the United States District
Court in this city F. Stanton pursued the
In Mississippi in due course of proceedings each
ceived final discharge in bankruptcy Assignees were
appointed-one in Louisiana and one In Missssippiwhe
| took charge Of all the assets.
Fl nay to close the bankruptcy the assignee in Lou
siana obtained order of court to sell at public sale all
the unsettled bills receivable and open accounts tbs
books The schedule filed transcript from each sci
Of books of the three firms in which were entered the
accounts kept with each of the other firms These &C
dibted to that in New Orleans in the sum of about
$500 00othat that Stanton, Buckner Co, Of Match
ez (meaning 8 BuckneE T. stanton M and b. lam Han.
ton Buckner and Hamer were indebted to themselves
that u.s. Buckner Stanton and Hamer Of New Orleans
in the sum Of 100000. This was the claim which wa
sold at auction There being competition, no one i'm
agining that such claim would give any right to di
vidend in Mississippi this balance was purchased by
1 gentleman in this city for a few dollars.
/ The claim however was sent to Mississippi, and tn
holder demanded participation in the distribution Q
the of the Mississippi house 1t was refused b.
the United States District Court, which appeal wa
taken to the United States Circuit Court and Judge Dan
e uecreed that the holder of this claim was entitled to
pro dividend out of the assets of the Mississippi
estate It was accordingly paid by the assignee, tn
holder receiving his pro rata In March last, j. H. Gal
cote of Natchez received transfer from the orgina
purchaser Of this balance of the New Orleans hous
against the Mississippi houses and also from Montgome
& Boyd transfer of claim they held against Stanton
Buckner Co. for professional services, amounting
about 81, 300 On these claims, interest was estima
ted which up total of over one million Of dollars
On the same day Of the transfer Cacote filed his bill
Chancery in the Chancery Court of Mississippi prsyin
the court to aside the discharge In bankruptcy OF de
PENDANTS and grant decree in his favor for the amour
of his claim preferng charges of fraud against defend
ants in making payments and settlements IN the regua
course of their business within the SIX months prior
their application for the benefit OF the bankrupt Ac
The charge of fraud ahath this extent, more bu
Buckuer, Stanton Co., laboring under the confctio
they would weather the storm went on paying thei
debts and settling with their customers and creditor
when suddenly by unlocked TOR event. they dseoFere
that amid the universal crash they would nave to sue
cumb This is what called fraud in legal psrlance, blu
IT is in fact an evidence OF an honest INTENT When MAJ
clnging to the last plank bears himself up againt th
waves that roll around him meeting all his obligations
the firm spirit and confidence of riding the storm an
gliding into harbor of safety But the law chooses
regard such acts fraudulent and suspicious and the
are alleged grounds to inyadate the certihcate
bankruptcy granted to Buckner, stanton Co and ret
der them liable for 100000 with interest," Tor del
which they owed themselves
Such is the real of the case before the CHANGER
Court Of Mississippi far as we can learn our stat
ment contains any error we would gladly correct It,
the bill Of the complainant 1.-THE counsel for
Bill of Demurrer to the jurisdiction OF the state court
subject which the Constitution and laws have a
signed to the United States courts where the matter ba
originated and ought to be concluded and also excep
ing to the plaintiff Is right of action.
1t this demurrer that was tried before Attorne
General Glenn, sitting Chancellor of Mississippi an
which he rendered the decsion everything the excel
tons and ordering the defendants to by the
October next aud from this decison the defendsn
have taken sppes 70 The High Courts Of Errors
Appeals.