The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-12-27

Judge Edmonds has made his report Of the apporon-
Of the debts OF this bank among the stockholders
the report to be presented to the Supreme Court for
confirmation the third Monday of January at which
time any objections to the report must be made.
This is the first case Of such report under the
constitution and the statute passed in pursuance Of l.,
making stockholders Of banks individually liable for its
debts In the of the Suffolk Bank and the Empire
City Bank which failed about the tme the appor
tionment will yet be delayed, learn for time.
In this case the is of 10 4S100 per cent
81 IL on each share Of stock.
Several points of interest to bank stockholders
ruled by the Referee:-
!. That stock could not be held by the president
cashier in trust for tho bank. II must be held directly
by the bank and could not held body elses
kr the bank Such transfer in trust is absolutely void
and confers title on any one. And where stock thus
held trust has been paid for out Of the funds Of the
capital reduced that amount Five hundred and eighty
FIVE shares are so extingushed in this case.
q Stock subscribed but not paid for, alheeh the sub
scliber may be liable to suit for lie amount IS until
it shall he actually paid for to be regarded as not exist
ing. Twenty shares extinguished this account
for by the cashier for tho benefit OF the bank and paid
for by loan out Of the funds OF the bank is to
garded as having no existence Thus 10l2 shares are
4. For these caufes the capital which was nou,inaly
10000 shares $500 600 is held to be In reality only
IA 1886 shares or $359, 625
8. Stock bypothecated security for loan, though
actually transferred to the lender is to be regarded
owned by, and the debts apporoned the borrower
as the equitable owner, though the legal title be in the
lender.
Though the law requires every bank TO keep books
in which shall be entered the and residences of
all the stockholders and Of every assgnor and assigaee
Of Stock and though such book is open to the nina
Of every person, whether stochholder not, Ter
penalty Of $50 10 the officer who refu to exhibit such
backs the omission OF the bank to keep such
OF residences does not vate the transfer OF the stock
merely subjects the bank TO penalty of 800 day
every day such omission may continues to be recovered
by any ore who may choose TO sne Tor 1t.
Z. In appor.ionng the cebts Of the bank among the
stockholders no regard is to be paid to tire inability of
any one to pay the assessments The loss any arising
from this must ia upon the creditors and not
upon The solvent stockholders.
2. In making the aportionment. allowance can be
made for any debt owing by the bank ier
whether claim proven before the Receiver al
vdends unpaid. An offset OF the amount be made,
not by the referee in making the nppor,ionmen but only
by the Court, special application for that purpose.
D. In cases Of stock held by person in trust for
ther the liability for the debts Of the bank is to i'm
posed on the trustee and not the person benefciay
interested unless appears that such holding In trust Is
by the express direction Of the latter, in which the
ciaBy interested.
10. in of stock held by married women the liza
bity for the debts is to be imposed upon them and
upon their husbands, they beog regarded single for
this purpose, by reason OF THEN ,hus owning separate
property.
IL. The general rule Of app.rtionmcnt IT, that those
stokho liable for the debts Of the bank
such Mt the time the debts contracted and at the
time default in the payment OF Them was made.
LAURA KEAsT's vARTrIs-The opening of this house,
postponed from Monday, account OF Miss keene's i'll
ness, is to take place to night The bill incluaes old
Heaes and Young Hearts " and ballet The theatre
lately called the Metropolitan has been much improved
and oeautfed and the stock company iocudes Mr. Cbas
Bass Mr. George c. Jordan, Mr. b. Johnston and other
favori,e artists. Miss Laura is great vore with the
New York public. and she will doubt, be greeted by
full house at the Varieties to- night.
Burrows TlEATRE'A Tar TO NIAGARA Mr.. Burton's
novelty for tho hohdsys is original two comedy
written by that ubiquitous person, ga gentleman Of
this ciy," and called a Trip to Niagara Mr..
Trimmer tMr. Burton), dry gcoas merchant, Z" fccm
Ca herine market" q takes his family on trip
TO the Falls, and there meets with certain FIST
people. He Is slow and easily hoaxed The young
Indies AMI gentlemen play tricks upon him. and the
fun Of the piece depends entirely upon his YER
dsncy. Without Mr.. Burton it would be a dead failure
but he acts with much uncuous humor that the de.
fects of the piece forgotten in the LAT gher provoked
by the principal actor He gives drunken scene
and it is delciousy funny The other part. are thin and
sAetchy, but they web filed up by Mrs. Hughes
Mrs. Burton, Mrs. Brelsiord "a clever actress who made
her first Gear here and Mr. Setche As vehicle
TO exhibit Mr. Bnr'ons exr sordinaIy powers ia broad
comedy the "Trip il successful but oiherwisci is be-
Meath criticism.