New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-01-11
REPORT FROM A SPECIAL COMMITTEE
An Injunction To Be Demanded.

A meeting of creditors of the defunct
First National bank of New Orleans was
last evening held in one of the St. Charles
hotel parlors.
The meeting being called TO order, it
was suggested that Judge Vennard take
the presidents chair, which he did. He
then stated the object of the meeting, and
asked if the special COMMITTEES was ready
to report Judge W. W. Howe, of the
committee, then read the following report
which was adopted without a dissenting
voice:
New ORLEANS, January 10, 1868.
To the Creditors of the FIRST National Bank OF New
Orleans:
GENrLBMEN-Your committee, appointed
at the last meeting, beg leave to report as
follows:
We have had interviews with Charles
Case, Esq, receiver Of the bank, and can
not more fully state the results of our ex-
animation than by appending copy of his
report, made on the sth instant.
Since this report was made we learn
from Mr.. Case that the Liverpool account
is still better than appears by this bis last
statement, and that there is hope of real
izing from that source some $500, 900
and upward. On examining CORE.
spondence between receiver and treasurer
AR. Spinner and Controller Hulburd, we
are satisfied that the claim Of S3l5,779 10
made by the government on the bank
and certified check of 7. p. May, dated
May IS, 1867. and certified on the same (ol
next day) is totally untOunded and ought
to be enjoined by suit in equity in the
| United States circuit court, and that in the
same suit the government should be com
pelled to refund what has been paid on this
check. We can not make a step Of prog
ress until this is done, and the sooner thii
is done tbs better. It is also pos
sible that in the same suit W,
may compel the payment Of thl
claims of the bank in the Carroll
ton railroad company out Of funds in thl
hands of the controller, which would other
wise go to the government, We have con
ferred with Judge Campbell and witt
Henry B. Kelly in regard to an injunction
suit, and SO far as the case has been state,
their views are in accord with ours. w
recommend, then, immediate employment
of counsel in the case, and to this end hay
prepared and are ready if it be deeme
proper. to circulate subscription list t
provide a moderate sum to retain thes
gentlemen and pay other expenses Of
suit.
Signed by the committee.
James e. Dunham, ESQ, moved thG
any proposition emanating from Judg
Whitaker at previous meetings be expunge
from the minutes. Judge Howe moved
lay on the table. There being no vote 0
the motions, no action was had.
, Mr.. James Graham said that this was tt
irst meeting no had attended. All I'll
r previous meetings had been under Il
: supervision of men who are implicated
the downfall of the bank, men who were
part guilty of that monstrous swindle.
g Previous meetings had been governed
= men who had not been wronged by IL
robbery. This is the first effort made |
proper persons to take steps to obtain r
dress and settlements, and he was glad to 81
J, the subject progressing SO fairly and Il
5 questions agitated.
Mr.. Dunham thought that the committ
. ought to see how far each director is i
9 vOlved in the transactions; he desired to $
how each one of them had been implicate
Q he wished to see committee appOlnt
n delegated with power to examine directO
and discover if possible what had becor
of the money Of depositors.
Judge Howe spoke of the $3l5,779 Ger
fed check given by I. P. May to the CO
n troller Of the United States as being bog
"a and of no worth, having no foundation
anything. He was greatly in favor of pI
curing oonnsel to have issned an iniuncti
l. in the proper court, enjoiniDg the Unit
n States in the matter of the check
Ia S315,779.
Mr.. O'Brien was in favor Of maxi
: sharp and desisive work. He was in faV
o of placing the affairs in the hands of la
IN yers--Messrs. Campbell & Co.--aS 81
a gested by Judge Howe.
1t was finally concluded to appoint
4 committee, who should be empowered
r, solicit money from creditors for the purp,
n of feeling counsel to take the interests
ar creditors into court.
The meeting then adjourned, subject
a call from the committee.
In all, there are about seTen hund
IN creditors of the bank, and last evening o.
y a small part of the number was in atte
a ance.
as