, 1872-12-11
MUNf!, NORTON & SCOTT.
John P. MeGregor nd George D. Lincoln
Elected AsslyEees Of the
BANKRUPT Firm.
The Question Of the Righ 10 Elect an Assignee
OF h'unn & Scot Referred to
Judge Bbdgctt. -.

Scott, Dan1rupts, Ta6@ beld yesterday Tor the
purpose OF electiug an Assignee. Register Hib-
bard presided, who STATED that a question had
arisen in his mind Us t, who were entitled to
i Toto for Asst gnee. as thee were Two classes Of
creditors, creditors Of tln firm Of Munn, Nor
| ton l. Scott, aud the creditors Of Mum l. Scott.
Els impression was that the creditors Of Munn,
Norton !. Scott were entitled to Tote at that
meeting. There shouldbe two different sett1e-
rnents Of the two frzcs. The bulk ot.the assets
were in the hands Of Mum d Scott, especially
the property conveyed to George Armour, which
he was willing to surreneer, provided he was al
! lowed to como in and get hia share Of the di7l-
dends.
Mr. Campbell snid the statute provided that
tie creditors Of the firm should elect the As
signee, and the creditors of the individual part
ners we're not entitled to Yote: They had the
case Of two bankrupt partnerships, and the
! question 1as which sho1ld elect the Assignee.
Munn, Norton i Scott claimed that Mimi &
Scott we're indebted to them, and Mum tSScott
debted to them (Atunn j. scotD. He thought
there should be two Asslgnees; they should have
| one for each frm. Representing cEeditora cof
Mum T. Scott, he insisted upon electing an As
! siguee for that firm, and protested asalrssth6
election Of the same person as Assignee Of
Mum, Norton Scott
llr. Tenney, On behalf OF Mum, Norton l.
Scott, objected to the election OF an Assignee by
| the two firms. There ~ere three firms Mum,
Norton 4 Scott, Mum & Scott, apeoulators, and
| Mum l. Scott, elevator men, Mum, Norton i
| Scott were the firm in bankruptcy, and who
were the competent authority to select the As
signees. The Bankrupt act provided that, in
| the case Of copartnerahip, the creditors Of the
| firm should elect the Aasignee and the creditors
Of the individuals had nothing to Say. The
creditors of Mum l. Scott had no claim to vote
III. Y. G. Goudy said there was firm Of
Mum, Norton d Scott, composed Of five per-
sons, among them Mum & Scott; another finn
composed Of some fifteen persons, known as
Mum Il Scott, engaged in the elevator business,
and the firm Of Munn & Scott, carrying On
speculative trade. The firm Of Mum & Scott,
composed of the fifteen, WAS not bankrupt at
all. the firm Of Mum, Norton Scott was put
in bankruptcy, andth creditors OF Mum J. Scott
eented creditors Of Mum, Norton Scott, and
OF Mum & Scott. He represented $780,
i the creditors Of Mum Il Scott were to vote
large amount. he did not believe, however.
that the creditors Of Mum d Scott were entitled
to vote.
Mr. Campbell asked to have the estates e-v-
cred.
1fr. Goudy objected to the election Of one As
Mr. Campbell wanted none appointed
The Register said but two claims were proved
against Mum 4 Scott: one for $4,000 on the
other OF $4,000 on the part Of the Casanova
c.. ~ National Bank. ''':
The Register thought those questions were
more speculative than practical, and he would
proceed to call the c1aims proved against Munn,,
Norton & Scott, and let the creditors elect an
Assignee.
AIr Harding, on behalf Of creditors he repre-
eented, objected to the claim Of George armour,
naY7+ nft ha al
Mr. Tenney objected also, and did not think
that George Armour should vote. His claim.
would be contested The claim Was large
NJ. Goudy, On behalf Of Mr. Armour, whose
claim he represented, desired to know who OBJ
The Register stated that George D. Lincoln
Was the objecting creditor. He objected on the
nothing, and that his claim arose out OF the
fraudulent delivery of 10000 bushels Of grain
without receipts.
III: Harding objected, on behalf Of the Corn
ilr. Goudy said it vas evident that the gen
t1emen Hho objected Aad not examined the
claim, they would find that it was reduced to the
lowest figure. III. Armour did not object to N
the claim. They objected, however, to haye the
election take place until their right to partici-
pate in the election was definitely and authorita-
lively settled.
MI. 4enn6y sa3d Tnen clalln was op]ected 60
the statute provided for postponernont, aud he
moved the claim be postponed, as s*the darkey
postponed tho goose"
John P. McGregor and George D. Lincoln
we're elected joint Asaignees Of Mum, Norton
d Scott, commission merchants.
The Register asked il there was any objection
to the Assignees.
HI. Goudy did not object.
1lr. CampbeH did not object.
Mr. Campbell moved that the roll Of the cred
itors Of Mum l. Scott be called, and that they
elect an Assignee.
The question Of the right to elect 81 Assignee
of Mum & Scott was referred to the Court.