The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-06-25
Mr. Hart then read the following letter

Messrs. PAGE, BACON & Co., San Frapcisco:-
Gentemer-As citing Of the creditors Of the house
tie COMMITTEES .ppoin,ed a. meeting Of the holders
reply to the following questions, viz. = 70
In the event Of the attaching creditors agreeing to
ing to release any claim they may have the obgors
the creditors the house in California mortgage upon
bis property in st. Louis, sufficient to to those
creditors the payment OF their several demands with
such interest and at such periods as may be agreed
The assets now in the hands OF the Trustees to be
persons the house II Page, Bacon Il Co. and the
creditors may appoint for such purpose and the pro
ceeos to be divided among the creditors in part pay meat
The committee also suggest that Messrs Page, Bacon
Co would favor the committee with statement Of
the affairs OF the house, showing its present liabilities
The meeting Of the creditors taking place tomorrow
Il Ss b s sss
or before IL O'Clock tomorrow
of ali the creditors Of Page Bacon Co it Would be de-
rable to be informed of the exact state of the popos
S as ~ me sns OF
WIN. HART, Chairman.
TS. 1 I.NsnES,, snlIEY, ). R Robinson,
with balance sheet, showing the assets and liabilities
in the segregate-
MEssRs HART, BoURS, SMILEY HARDY RoIIISsoy AND
TREADwEL, Committee, &c.:
GENrIEMN:-Your communication Of the 26th inst,
ing and inasmnch your inquiries relate chiefly to
propositions addressed to individually, proceed to
Of house. But before your
ci6caly avail myself Of this occasion ray have
thus far abstained from noticing the violent assaults
made BY certain newspapers upon my conduct and mo.
tves not because afraid to meet and discuss such
issues, but simply from relactance to engage in
newspaper controversy at period when have i'm
period Of life, and especially when overwhelmed with
engage in angry dfputes WITH any one; and however
grossly may be msrepresentsd, II my past conduct
against such assaults any mere words Of mine would fail
OF their purpose but may te permitted to say that
until now am not aware that my conduct motives
have transacted business for than thirty years.
and amongst whom have passed the best part OF my
lie viii be slow to believe that merit the opprobrious
epithes which have been ptofusey heapsd upon me-
For the nrst time in my lfe It has recently been my
connected not to be able to pune
tuay. Errors Of judgment have doubtless contributed
to this result which has proved great calamity not
ISOLATION to know that throughout these didicuItes
bavs had other than honest desire to the most
paid out on last suspension every dollar remaining
In vaults; and nasmuch certain gentlemen had
themselves responsiSor our time csrticsiss We trans
ferred to two Of their number In trust all property
and ehects In California indemnity against such
liability We believed at the time that this was an
ample security, but We were informed by the par
ties interested that II not deemed sufficient and
further security was requested to which assented
condition that certain changes could be made the
trust fund, which, in my Judgment, would render II
speedily available for the pa, Of the certia
Gates. These conditions lot complied with, and
In tie meantime was informed that serious doubts
isted as TO the liability Of the obgers the bond
Uncer these circumstances have declined to give fur
ther security and thereby 70 encunber my eltats so
as in great 10 render IL unavailable for the
present for the payment Of debts TO which purpose
intend to apply every dollar Of It, n necessary for
the public to decide whether my conduct under these
circumstances, has been justidabe not.
trust however the inquiries contained In your let.
er and ny response TO them may lead TO arrange
ment wnicn VIII Be mutually satisfactory to all con-
cerneo, ano proceed now to answer them.
40 we nist reply, that the attaching creditors win
ceedipgs and the holders Of time certacates will re-
lease the IN the bond from ali liability real or
Supposed and IL the assets now in the hands OF the
bs placed in the hands Of tbrcs 10
be mutually agreed upon BY the house OF Psss
Co and its creditors in California with 10 In the
new trustees TO dispose Of such assets for the hast rco
pay able In any Indebtedness OF the house. or sos "a,
cash. then the proceeds to bs divided pro rata
all the creditors upon these conditions win exec1ts
mortgage deed Of trust upon the property kuo m
as the Marlin Koonts tract st. Louis condition for
the payment at the expiration Of one year Of all the
debts which the house Of Faes Bacon Co shall then
owe with interest In the meantime rate OF ten fIo
per cent. per rsserving however to myself tn.
right In the nean,ime, 30 ecu mortgage SAID tract
any part Of II with the OF one or moro Of ths
Trustees 70 b named In dead. vi "a