Litchfield enquirer., 1858-09-09
G9e 1tt9ftlb Gnql1lrer
Litehfisld. Conn, Thursday, Sept. g, 1888.
THE LIIgHFIELD BANK

| THE LIrCHFIELD BANK.
 The injunction against this institution, referred to in our last up for trial before Judge Els. worth,' in Hal tford, last Thursday The ehoroe. agalnst the bank, may be thus briefly stated viz. That before the books were opened the charter was Sold to E. L. Houghton, (the present cashier,) and J. w. Rumsey, then both of New York, for $12, ,OOO that several of the original subscribers for the stock were irresponsible persons, who did not and have not paid in their instalments that the first in- stallmcnt of SIC, coo borrowed-and subsequent. ly returned by MT. Rumsey, either directly or indi rectly, to the parties from whom it was borrowed that the subsequent installments have been nomin- ally paid by discounting notes by irresponsible par ties that the assets of said bank are largely com posed of worthless notes; that the circulation is about S20,G00, and has been largcr-and that the bank has only occasionally had the amount of spe- cie require by law.
 These charges were made by the senior Bank Com m issIoner, Nr Moves and the injunction vas grant ed upon the aledgrd facts as here set forth ma jority of the Commissioners (Messrs Noble and Clark ) had, only few days before, examined into the atflirs of the bank, and had made favorable report; consequently the injunction took the public by surprise Upon the representations made by Mr. Moves to Mir Clark, by letter, the latter gen. tlemar granted the use of his name-so that the complaint is signed Benjamin Moves, Thomas Clark. (by his Attorney, Benjamin Noyes.)'
 The trial before Judge Ellsworth lasted three days, and resulted in the conditional removal of the in- junction, as will appear by the Judges decree. Ex- Gov. Dutton and Judge E. K. Foster appeared as counsel for the Bank and Lucius G. Peck, Esq, of New Haven, counsel for the Commissioners The principal witnesses were Dr. Beckwth, the President, Mir. Houghton, the cashier, Messrs Hol- listcr Beers, and Noble in behalf of the Bank, and Messrs. Moves and Sturges against it.
 The following is the official decision of the Judge ill the case
 BENJAMIN NoYas and THoM,s CLARK, a majority of the sunk C)m:nlsSoners, vs. TIE LrrcuFIELD BANK Be ore the II ,l. WM. w. ELLSWORTH ayu lye of tac Supreme CIlrt of Errors, HrSforI, Sept 3l 1858. Aopisatol ali co pliat for an injunc- tion, &;.
 Upon the hearing O. tle parties to this ap2lica tion and complaint this Court doth order and de- cree,
 That the temporary injunction in this case made,
 
 said bank and the officers and agents thereof from issuing or putting into circulation any of the bills of said bank now in its possession any of the bills oi said bank which have been hypothecated or left security by said bank in the hands of any of the creditors of said bank, left with any of the agents of said bank or in any manner allowing the same to go into circulation and that said bank shall as far as possible prevent all such bills from going in to circulation.
 That the ease he continued under sueh modified nlunCtlCn until the aDDcation a this Court for a further hearing, by either of the Bank Commission CTS or the President and C,sher of said bank ; on which application time shall be fixed by tl, Court for further hearing of this and at least six days notice shall be gi iven by the parties applying 1t the same shall be tine Bank Commissioners to the President and Cashier of said bank each and if said application shall be by the President and Cash fer of said bank, then such notice shall be given to each of the Bank Commissioners; and until such further hearing the said bank and all its officers shall be under the special supervision of the Bank Commissioners; and all further questions shall be reserved for the fin bearing on the case.
 (Sigaed.) WM. w. ELLSWORTH,
 A Judge of the Supreme Court of Errors. In other words, the bank is enjoined to do just what it was already doing. The officers are conf- dent that the suggestions of the Judge will be spced- lily complied with, and that tine institution will soon be placed on a firm basis. They are men in whom the public have confidence and the bil-holders are cautioned not to sacrifice penny on the bills as they will all be redeemed at par.