Civilian & telegraph. [volume] (Cumberland, Md.) 1859-1875, 1862-07-03


sale and transportation contract That on
September 3Oll, 1857, the day said deed OF
trust was made, said Sherman, on II lair set
Element of accounts between complainant and
himself, was actually its debtor to an amount
exceeding two thousand dollars. on IN ac-
count called Loan Account, while the Sched
ule attached to said deed of trust includes
him MS a preferred creditor Of complainant,
under said deed, to An amount Exceeding
$4,000; that the Indebtedness, i'll said sched
| ule stated TO some other parties was only APP
parent and not real and much OF it amply
| secured by collatrrals, before the execution o
| said deed, which latter was unnecessary for the
purpose.
was unnecessary for the protection of com
plainants creditors, and IL fraud upon their
rights; and maiuly resolved upon by the
| Board OF Directors at the instance of Sher-
man, Mchaflcy and Bloodgood, apparently for
| the benefit OF creditors, ms well us OF the Com
pany, but really in order to continue the
power and control Of { ompainants funds and
business involved and diminished by their
! fraudulent misconduct and detention of its
money and property in their hands that said
Sherman, MchulTcy and Bloodgood, by their
iuiudicious. unauthorized and improper ex-
peuditurys Of its means to II large amount had
! CAuscd serious embarrassment in the prUscCu-
| ton Of its business, and It failure to meet
promptly its liabilities; that they were pre-
| sent nj u special meeting o. the Directors OF
complainant, at its Office in New leIk, on Sep
lemuer 18th, 1851 and at an adjourned meet
ing OF same ut same place next day, partci-
mating in all the proceedings, at which the
prcparation and execution OF this deed of
trust WAS directed aud resolved on, and it was
SO resolved on pro!cssed,y, by said Mchattty,
BlCulguod and sherman, MS the best mode OF
protecting compartments property during its
then financial difficulties from sale and sacri-
fee, until its liabilities could be deferred and
arranged, without the necessity OF any sale Of
any of its valuable pt opcrty. That with this
view extraordinary powers were conferred on
said Trustees and Mehailry, Boodgood and
sherman were selected rs such Trustees, he
cause they offered to act without any addi-
t9na charge for their services, or compensa-
ton. other than what they might receive rs
officers of said Company in the positions they
then held. That said deed OF trust was made
TO them the next day, TO wit: September 30ih,
1851, on account OF embarra ssment in its cir
cumstanccs, conveying to said Trustees all its
, real and personal property wherever situated,
and which had not been previously conveyed,
in trust, that said Trustees should sell and
dispOse thereof or so much rs was necessary
for the purposes OF the trust, etc, and after
: payiuE expenses etc. and satisfying liens, il
any, IT, apply proceeds to payment OF com
> p,aiuanta debts, etc, copy OF which deed Il
li.ed with the bill, marked Exhibit No. ! as :
: Part thereof
! The Bill further states that all complain
: ants liabilities payment o! which was secure,
> by this deed OF trust, have been fully paid an'
satisfied hoy il, and none OF item By said IrUs
= tees, except perhaps nine per cent upon
SI9jO0, claimed by the Trustees OF lie Mncra
; Bank, ~ damages npon protested bills OF cX
, change, (since jhe Hill was filed this has beer
compromised and settled by complainant it
self which complainant by advice OF conuse
contested ieEa''S "'i mn" u''u coz! VI uoCNc
/ entries OF ms s"i' WIN l"e ui"' as hAn'nl
No. = ana max co!hnia'ha"' u II, All Hht'
II rcaGy 10 pay ahoNe mae per cen ""h'gHs,
e ooIlgeu 20 70 90 ana NAV S"la lF"S'ees' NE
g ,I'a;r ,y ,',iss ,r ca,,,,,oi"o,, o, ,,,a,
2, i,,, r., ,o . s,r,, t,,t carL ~ s,i1 I'm
y ,on. uc[nfay Rrnragood and sherman !
Il ,r,,,,lr, ;nlai!ed IN !, and lint nil nj tL.r
ini@H,It are hravily fndcbtrd INTO il ON gevaro
/, g.ra,,, nccn, md in suudry lnr"e sums
wanna oLnye,ll rlrins ,hpy orany one of q
nr ,Ic,n w., :, r.y,'cc,ircly hlyeog,ins
p ~; ~ Isil ,,,,,,,l,ir,rt
q - c,.,
il Inc u" 'I' '"'F S'"'es' '""' "''e, S"'H "''
!, was made, 'he property c"hf'fe u " II &c
;, manned IN com P'"''4h' tN''"'', We 1cro'o' ~
g possession nm" co""oi, "nu t''"t N'." US zee