The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-21
UNITED STATES DISTRICT cOuar-w BANKRUPTCY.

The Stuyvesant Bapk-iiefusnl Of the Court
TO Confirm MIR. Archer's Appointment as
Trustcc-Important Decision by Judge
NEUTRALITY-SUSPICIOUS. II. Plat Appointed Bank.
rupt's AssiRnce.
Yesterday, in the matter Of the Stuyvesant Bank,
y bankrupt, Judge Blarchrord rendered an import
ant and interesting decision In reference to the mo-
ton recently made before him for the confirmation
Of the nomination, by the creditors OF Mr. O. ii. p
Archer as trustee OF the Stuyvesant Bank. The
Judge refuses to sanction that appointment but APP
points Mr.. John IL. Platt assignee Of tho bank.
rupt. His honor gives his reasons at length in the
SuDJolned
DECISION.
The interest the creditors Of the bankrupt will not be
decline % confirm the resolution TO that elect
One Of the grounds on which the bank was adiudsed
ana suffered iis properly BE- taken legal WIN
lay the operation OF the Bankruptcy act and suffered and
A nEoE1vER OF ALL rrs PROPERTY
snd ssss 70 be By sss Count and
belonged .6e bank passed n. hand.
fer and claiming 70 hold i against all the world Such
the Of becemSe ISL II Archer to
perry ' q the bank bus. account stood on
day, according to such principles Of may
be determined BY this Court 1t appears that Mr. Archer
ms ''A'' ''-i ns 1si Isd WITH THE PROPERTY
@ esn ss as pya @
he NUT II he Is account TO this Court at all for them,
sss0sns&
% "a he
now in @ to any trustee or assignee to be
compelled TO DO 50 BY legal that
nor doe. ne this
cease acting as receiver lie announces that he intends
ne Sal. couI, when sppSn.sd
Court cannot permit Of It's ocsr. II be- 10
BE- trustee under she Bansruptcy act appointed by this
authority II he is to hold and administer receiver
must 90 Without looking 70 his Cau. for ane
authority or direction II ho Is 70 administer such property
WITHOUT LooK.se TO THE STATE COURT
any other Court but this Court for authority or drec
case Of is sinnssr Bacnord g 49, siS, s7s, in
81 his w sHs o as *. of
the creditors in regard TO trustee they have undertaken
be they desire such committee 10 consist Of three
persons Their action under the act Is unit ana !hs Ieso
the three they name to constitute the commee Oh
Mr.: nULL, PRESIDENT THE NKw YORK SAVINGS IANK.
That bank claims under provision IN The statutes OF New
% e 1od BY " @ Of ds sd %
piled 10 is favor Sy so peferne It's claim in distributing
The assets Of the bank under the Bankruptcy act THIS claim
unsecured and who claim preference Under these CIR
one whose
according section 10 Of act the estate OF the bank
be wound up and settled.
The Register certes The Court that the first meeting Of
creditors herein has been finally cosed that at such meet
were some votes cast for assignee but that there
no choice Of assignee and that the Register made no
OF assignee there being no opposing interest
PROVIDED by section IL of the act that II choice OF
gnee made by the creditors ri the first meeting the
ug or there 10 no opposing interest, the Register shall
Sne OF more aesgnees The case, therefore, has
me resolution nominating trustee not being
sgpon. an assignee The OBJECTIONS appointment Of
NJ 6ener AZ trustee apply equally to Apo intment of
90 anough threeourths In value of the cred-
sos wncsS claims were Proved nominated him trustee.
iAppon' mr. 1onn H. Plat as assignee Of the bankrupt
@. L. Walker opposed.