New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1856-02-11

property yiehding an income, SO that they leave
burthen on the productive property of $2,l3S o.
This it should be observed is altogether independent
of the State aud parish taxes IN al the other parishes
in which there is property, bills for which have not
been rendered to the Undersigned during the period
Of their administration.
The Board deems it a duty to appriso your honora-
BILE bodies that although the Supreme Courts Of Lou
siana and of the United States have settled the ques
ton of the rightful ownership of this large estate
it is not yet entirely freed from litigation.
The most important Of the actions pending at pre-
sent are .M,
LIST, The heirs of Oliver H. Spencer vs. the Success
sion of McDonogh ct al: in which tue plaintiffs claim
five thousand one hundred and thirytour dollars, nine
tyfour cents Nth compound interest at the rate Of six
per cent per a,nun from 18th April 1916 This suit is
pending in the 9Th District Court Of New Orleans, and
as you will see, involves immense amount of money
ID, Sarah Greenwood ct al; alleging themselves to
be heirs of Shepherd Brown vs. the Succession OF Nc
| Donogh ct ali which the plaintiffs claim eleven
ninety second parts Of the whole property OF Shep-
herd Brown, amounting, according to their calcula-
| ton, to upwards of one hundred thousand dollars;
but the precise amount is not stated IN ther petlson'
The suit is pending in the I'd District Court.
| Sd, The important action Of the City OF New Or
leans the City of Baltimore, in which the former
claims that this Estate be divided between the Cities
4th The Society for the relief Of destitute Orphan
Boys against the Cities Of New Orleans and Baltimore,
In which the petitioner claims the specific performance
| OF the will and general relief.
The most important of all these actions u.s. probably,
the one between New Orleans and Baltimore, inyolV-
ing the question of division. Tt concerns matters of
considerable niceity, and requires the greatest dis
| erection in its management
Independently of the difference of opinion between
the two cities to the legal right or the proprety of
dividing this estate, it may well be doubted whether
| any mere voluntary partition between New Orleans
and Baltimore would serve the purposes of either.
Under all the circumstances it is perhaps best that
the question should be settled by the courts, so that
there may be discrepancy between the behests Of
| the will and the acts of the cities.
We have the pleasure to say that we have found no
cause either to repeal Or modify, as yet, any of the
rules and regulations adopted by this Board in April
last Ga copy of which was heretofore sent to your
honorable bodes) and that they have been entirely
successful for the management Of the estate entrusted
| to us.
The cash. on the slst December 1866, is, as has
been already stated, $75,697 GO. This balance is
composed partly of cash received from the executors
partly OF the amount of rents and interest accruing
and collected during the period of the account, and
partly, also, OF sums received in payment of " old
bills receivable" and "book debts transferred to US
by the executors. The proportion of the cash in
bank, which, after deduction of disbursements is
made night be considered nett revenue or true in
| come, wonld be comparatively small, and the Board
has concluded not to make, at present. any attempt
to distribute it, as contemplated by the will Of Mr.
McDonogh.
The principal consideration which has led the I'M
designed to this conclusion is that the amount claim
ed from the estate in the various suits we have emu
merated, is much more than sufficient to swallow up,
if allowed the whole amount in our hands. In view
Of these contingent liabilities, the Board has not
thought it discreet and perhaps not lawful to divest
themselves of the means of satisfying these Gains
should they hereafter assume the shape OF judgments.
To do SO, would be to subject what might be termed
the capital of this succession tits real estate) to dim
mutton orthe purpose of paying debts This, tits be-
lieved would not accord with the intentions of the
testator who designed that all the liabilities should
be extinguished before any appropriations made
of the revenues for the general purposes Of his will
The Board has also been influenced by the consid
alton that the particular legacies Of certain proper
tons OF the nett annual income are charges upon the
universal legatees-that serious doubts have been
tertaned of the validity of these egacies or at least
some of them; and that while the question is still
unsettled, it would be unadvsable to take any action
which might tend to compromise the rights of any Of
tho parties in interest.
We have the honor to be, gentlemen,
Your obedent servants,
A. d. CR0SSMAN,
P L, BONFORD,
JOHN CULBERTSQS,
Commissioners for the City Of New Orleans.
BRANTZ MAYER
WM S. PETERKIN,
THDS. L. EMORY,
Agents for the City Of Baltimore.
New ORLEANS. Gath January, 1856.