, 1872-12-18
NOT YET ENDED.
The State Insurance Company Mat
ter Still Before Register
Hibbard.
Most Of Yesterday Consumed
in Arguments by At
torneys.
What MIR. Camerm's Partner May be
Able to Tell About a Certain
Book.

RNkC " Gil HAVAt q WI AAh
Book.
The case Of tho National Loan and Trust
Company us the State Insurance Company,
before Mr. Register Hibbard, WAS resumed yes
terday at 10 O'Clock No witnesses we're pres
ent. 4 petition WIS presented by Mr. Cooper
praying for the production Of the books OF the
National Loan and Trust Company
Nr, Aver rather objected to considering that
point lust then, ur. Goudy being necessarily
absent. engaged IN 8 case which might take Bev-
er1l days.
Mr. ]. 3. Smith was recalled, and said be had
sold to the Nadonal Loan and Trust Company
policies to the amount Of $1,000 issued to his
own firm. He received fifteen cents for them. He
sold the due bills to AIr. Parks about the LIST Of
November, and had furnished proofs Of loss to
the Company. Mr. Elliott had attended to the
insurance Of Bradner, Smith g. Co. after the fire,
and probably knew more about adjustment, ETC.,
than the witness. He furnished the money at
the National Loan and Trust Company's Bank,
against which Alr. Van Inwagen drew the checks
he gave in payment for the policies he pur-
chased.
Mr.. Goudy then asked for 8 recoss till 2, in
order to enable him to consult what action to
take in regard to A1r. Cooper's petition, which
prays for the production Of the books, in order
to Elo1 that the money used by the bank in the
purchase of these policies. really belonged to
the Insurance Company, and that the officers Of
the Insurance Company had pocketed the differ
ence between the amount paid for the policies
and the SUN belonging to the Company. It is
also asserted that certain claims purporting to
be adjusted in December we're in reality adjust
ed in February.
At the time set for reassembling Mr.. Cooper
said they would like, before considering the
petition, to examine IN important witness, re1a-
tive to the books.
Mr. Goudy objected to any oral examination,
proferring an affidavit.
Mr. Sidney Smith also objected referring to
issue, which might consume several days.
The Register said if the claims we're purchased
in fraud, and the bank WIS party to it, it was
not q fraud against the policy holders generally.
Fs ahea eay tSe eesGR ean Ta in % e1tn
It did not, he did not see the object Of
the petition, and this was not the place to make
the inquiry proposed. Under the order of ref
erence be did not think it pertinent. Il the debt
was e1tinguished, it was no longer debt.
Mr. Cooper held it was extinguished. The
bank had paid certain sum for some policies,
Of which it now claimed payment. + It really
owned them, the only question would be Wheth-
er they we're valid claims. But, il the bank did
not own them, and the profit did not go to it.
then the inquiry was pertinent Somebody had
made profit Of $226, 900. II they could
chow from the books that that SUN did not go to
profits Of the stockholders, but went to certain
So it Was if they showed the profits vent to
officers of the Insurance Company, and that the
money of that Company bought the claims.
The Register did not see that the testimony
1r+ Oh ab11ra1 that fta e1aiTna
mguiehed.
Mr.. Cooper wanted to chow that The bank did
not, and never did, OWL the claims.
Mr. Goudy submitted an affidavit Of Charles
that certain entries alledged by the petitioner to
have been made, had not been made. No por-
ton ofthe S261, 900 appeared, from the books, to
have been paid over or credited to any corpoza-
entry deponent would have known it.
Mr. Cloudy said they we're willing to introduce
one account, in which it was alleged that alteta-
tions had been made, but which Mr. Goudy de-
MED Was the case, so far as material alterations
went.
The Register said he wanted no inquiry as to
who Was the equitable owner of these claims,
but whether the debt was extinguiahed. :.
NJ. Van Arznan said the only question was, in
claims, whether as members of the 1rsur-
ance Company, OF Of the bank. He believed it
competent to show that the present applicant
was not the owner Of the claims. The real OBJ
he ss s I snd shoT he anz ss of
soa them p Tas the to wepR tSe2 he2
cancellation. II was believed the funds Of the
Insurance Company had been used to pay up
these claims: and that Was what it Was sought to
prove. II the officers had done that, it would
work cancellation.
h1r. Cloudy and 3lr. Smith concu1red in that.
The Register did not know that it had been
asserted that the specific money Of the Company
had been used to buy the claims.
Mr. Cooper said they expected to prove that
rhe money belonging to the Company was in
part paid to J. B. Smith, and the reminder sent
was, rs decided by Judge B1atchford, that the
purchase Of the claims by the officers Of the
Company cancelled them
The Register admitted TINT to be the law.
Mr. Goudy then presented the deposit ledger
Of the bank in which the account OF the hsur-
ance Company was kept, and it was examined.
The Register declined to allow tho testimony
Of experts to be taken as to the condition Of the
book to go before the Judge, since the book
Mr. b. R. Cameron, Of Cameron d Ambere,
WAS examined Oh behalf Of the creditors. He
was asked whether he did any work, last June,
for the Loan and Trust Company.
Mr. Goudy objected for irTelevancy.
Mr. Cooper said Cameron Amberg had, last
Juno, taken one quire out Of one Of the books
OF the Loen and Trust Company, regiZed and re-
bound the book, which vas the one in which the
sccount Of the Insurance Company WAS kept.
Mr. Cameron said he knew nothing about the
matter referred to. It must be his partner.
There Was charge against the bank for making
9 change in q book,-What the change was be
did not know
1fr. Smith said the matter should be- inyesti-
gated. Dir. Goudy said there was no objection.
The matter was continued till 10 this morn
ing.
STREET RAILWAY NEWS.
When tIack-laying Eas begun by the South