The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-01-24
Supreme Court-Spocial Tsrzm.
Before Hon. Judge Roosevelt.


MORE FINANCIAL OPERATIONS.
JAM 2s-Tn TIE Matter Of tie Empire City Bank The
several parties to whom this indebted ap-
peared to have the bank declared nsolvent Mr. Tracy
counsel for the bank asked for postponement he
was engaged in 9 then going ON.
The court said the law peremptory, that such
should be proceeded with with all reasonable des
patch. Application to postpone denied.
Mr. Tracy then at the request Of ex.Judse Edmonds,
counsel for the Union Bank read the assignment Of the
bank to Smith Barker, Charles s. Tappan and James
Common.
John T. Stewart of the duty sheris deposed that
he had executions against the Empire City Bank, which
he produces to the court had two others against the
bank which he has returned with the mark no goods"
Mr. Mason, counsel for George II. Purser said that
the assignment illegal as II made while the pro-
ceedngs against the bank pending in this court
Mr. Tracy said the alluded to by Mr. Mason
relnquished before the assignment was made.
Mr. Henry Hilton appeared counsel on behalf of
the American Ex inge and some twenty other banks,
changes to the amount Of over ss 600 which took plaza
December 1854 at the clearing house In this city
The payment Of such debts has been demanded Of ta
Empire City Bank and refused. The pettanars, there.
fore pray that order may be made pursuant 10 The
statute in such cases provided, asslsyss .rS En,nr.
Cty Bank nsolvent and thai an y. such order Is made.
BaEs r.! 10 VA Lotion restraining the Empire City
S its officers from paying out in any way
transferring delivering to any person any money or
assets OF such association, or mourning any debt
obligation until such injunction be vacated on motion.
Counsel for the respective creditors heard
to the priority Of their claims.
The affidavit Of Mr. Purser read In which he
stated that about the 9th Of January, Adams in
formed him that he intended TO apply for injunction
against the bank; deponent called Mr. Mason, and
they consented together that the assignment not
insisted upon they would consent to dissolve the nunc
ton and appoint a receiver.
On crossexamination Mr.. Purser said he never
pressed any willingness to assignment being made
that he could recoect he did not suggest that receiver
could be amcably appointed; did not know they had
made an assignment; did not Aay would consent IL
was appointed receiver; proposed that they should
expose the - who had robbed the bank OF s53, 900,
and they would not do it, they failed December o;
did not commence the proceedings because did not be-
leve they could make a valid assignment
p.n sna fsesaen' 81 the Empire CITY
when the assignment wei made by all except Mr.. Con-
nor; Mr.. Common sgnedi latter ION the 18th january
entered; Mr.. Barker said SO; the assignment
not executed till the injunction dissolved;
Of that there meeting of the board day two
before the assignment was made; think resolution
was passed by the board but have not the books here
with mel was the new board that was in session
the 18th there twelve members present that
not full board they elected the ID Of Janua
ry and they went into operation the 9TH there
resolution of the board the 18th authorizing this
assignment; 1t entered the 18th, as passed.
b Judge Hmonds said they wanted the books, to see
1ast ~ collation. Of the injunction Of this court
To the Con- rt-There judgments and executions
out against tn bank at the time the assignment
To Conp,s,I ca, rot tell what amount OF property
came into the hama o. the assignees. Statement
duesdl Witness sons, I'd was saas 49, an bills re. re
Their. assets. there b bond and
mortgage for sac, 0O0 which, was 70 ruruy 70 secure
State de1ved the TIM ass Of the a. q
signment the assets in the bsnA .. .o VI
Great Jones street and Broadway oHd mess went ny
with them Immediately and gave thers Tire 'ne Is
timated value Of the assignment $f43 o0e ue hom
nal value being SAC 1885, of those sss are nov
under hypothecation; can't tell how much. a..
Court-Have you NO definite idea of the state Of 'hs
bank at aS
Witness-I have very little knowledge Of it; ! was
elected az President in October.
Court-You not selected President because
Of your knowledge OF banking affairs, but merely be-
you resided in the neghborhood The Judge then
asked II there was amy officer Of the bank herey
Mr.. Mason said that when the officer went to the
house of the cashier, yesterday evening he was in.
formed that be very unexpectedly called out Of
town since the granting Of the injunction.
Examination continued-I went Immediately up with
those gentlemen from Mr.. Barker's Office to the bank
to deliver the keys Mr. Conner not present whom
delivered up the keys, was not present when Mr..
Common signed the assignment, but | am certain no
had not signed II when delivered the property.
The further hearing OF the Adjourned at AZ
O'Clock, to Wednesday (this day.