The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-12-18
.Sl4l.6OO 7

To.sl. $l4l, 800 Total. ........ S4l 600
The President OF the company exhibited bank account
book kept by the company with John Thompson's bank
ing house in which the above five checks drawn the
Bank the Republic were credited a. deposits at said
banking house. and five drafts charged against said
credits, amountir in the aggregate to tho Of $75
49, leaving an apparent balance In favor Of the nsur
snce company, against Nj Thompson, of $66175. Ac-
colding to the testimony Of the President this bank book
In the Handwriting Of one OF the clerks at Thompsons
actually deposit and subject to hs drafts Of the
company. In my opinion, however, the company has
item is entirely imaginary and fictitious. endeavcred
10 pressure the testimony OF Mr. Thompson and called
him twice for tits purpose, but he ready will
ing to be examined On either occasion
The company ceased the taking of risks the 9Th day
Of October and the President testified that all outstand
ing Ilks mounting to the Of 1920 COO agreed
to be reinsured in the Brooklyn Fire Insurance Compa
The I 60 amount s Of net premiums reserved is
salaries, &C., TO the amount OF $4,000
The principal Stockholders Of the company are
Robert McCleland, $24 600; John w. Datson S27 160
and Daniel Richards, $50, $780,
On the 26h dsy Of November 1855 during the progress
OF my investigation and before the completion OF the
same the company Voluntarily applied to the Supreme
Court under the provisions of the Revised Statutes
lapg to the voluntary dissolution If corporations for
the appointment Of Ieferee and order to show
why the sso corpo alton sh ,uld not be dissolved.
and Of he order made thereon az Special Term By his
Honor Justice uerke is hereto annexed, marked sche-
dulles Band q.
In this petition the above William G. Martin mortga-
ges, amounting TO S5S AGO. stated part Of the
sets Of the company and another is Cash In the
bank OF John Thompson, sec, 49," being the
claimed by The pr sident deposit with John Ihomp
son and which is merely an imaginary balance of the
borrowed and fctif pal the organization
[0,he: mortgage specified, also claimed In sal
petition, OF The value OF S73, 425.]
did not deem 1t ecessary to investigate the value OF
these p. mses The title of William Fl. Clark TO the
same whether any prior liens existei thereon 1t ap-
pears by said petition that the compsny has recently
borrowed So 600 of the Brooklyn Fire Insurance CompA
ny; with which funds the salaries have been paid The
bonds and mortgages have been hypothecated security
for this loan.
Tne following ia summary statement Of tho condition
Of the company
Nominal capital 500 600 W
The ten VIM Martin bonds and mortgages $50 400 90
The five VIM H. Clark bonds and mortgages. 70 425 90
Debts due for pre- mums, &c................ 800 %
Furniture, standard surveys, &c............ 900 0o
Aggregate. .$132, $50 20
Anon Mt due Howard Insurance Co.. 1878 90
Amount Mel camille Fire Ins. Co.. 125 90
Amount due Brooklyn Fire lns. Co 49,. 900 90
small debts. Zoo 90 -.
81, 706 65
Stockholders.. .IooV" v"
Aggregate. NV v"
The undersigned hereby reports that the assets OF the
Henry Clay Fire ms Company are insufficient TO
justify it, continuance in business In the city OF New
York. and that the public interests require the dssou-
tim Of said corporation and that said company have
applied to the Supreme Court for that purpose.
WILLIAM BARNES, Commissioner &C.
Albany, Dec. IL, 1866.