The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-21
UNITED STATES DISTRICT couaT-,N BANKRUPTCY.
The New York Printing Company.


Before Judge Blatchford.
We have already stated In the HERALD that efforts
have been made to throw the affairs Of the New
York Printing Company into bankruptcy. On the
18th OF the present month Edward Fl. Tracev, ex-
ecutor and Laura s. Taylor, executrx OF the late
James B. Taylor, filed petition in bank
ruptcy against the New YORK Printing
Company, alleging that they are creditors
Of the SAID company, corporation duly ana pro-
pery organized under the laws OF the State Of New
York. The petitioners state that James B. Taylor
died IN this city on the 22d of August, 1870. and
that, as his executor and executrix, they are the
holders and owners OF promissory note. by which
the New York Printing Company promised to pay
to the order OF James b. Taylor IN five years from
The nOse was delivered to Taylor by the New York
Printing Company for value aud after 1t mature
payment was demanded, but no payment was made,
and the Printing Company are now claimed to be
indebted to the petitioners TO tnat amount The
p pany sanered 'A' ana d. permitted ' iadg6ent
to be taken against them IN the Superior Court Of
this city for $oe $50 50 by the Ocean National Bank
the Printing Company under an execution issued
Ss inc w Ine re 1 Inc
purpose Of defeating the bankruptcy act the
Sheriff proceeded to sell property OF the Printing
Company to the amount OF $50, 900 to John f. Trow,
but has not yet cOnsummated the SALE although he
has threatened to do 80. In The State court Judge
Barbour had issued Temporary Injunction restrain.
ing the Snerin from selling the property. This,
however, was vacated; hut before any result could
flow from such vacation proceedings were CON-
menced In the United States Court In Bankruptcy
against the New York Printing Company, thus TAX
Ing the matter out OF the hanus or the State Court
The New Ork Printing Company put IN an
swer to the petition, denying tile alleged act OF
bankruptcy ana demanding trial by the Court.
When the case was called on yesterday, before
Judge Batchlord, counsel for the Printing Company
made q tender Of the payment or the deOl with
terest, amounting to $1,000; but counsel for the
petitioners refused this Offer on the ground that It's
acceptance might be considered preference In NO.
latOn Of the rights OF Otner creditors.
This being so the Court decided that the proceed
ings should go on In the regular way, and an order
was accordingly entered referring the case to
United States commissioner to take testimony on
the point In controversy and report to the Court
Judge BlatchfOrd had issued an Injunction re-
stralning the Sheriff from selling the property OF
the New York Printing Company. mouon 10 va
cate this injunction was partly argued, and finally
IL went over to Monday, when the argument WILL be
resumed.
ANOTHER PETITION IN BANKRUPTCY AGAINST THE
NEW YORK PRINTING COMPANY.
Mr.. John +. Devlin mas also filed a petition In
bankruptcy against the New York Printing Com
pany. HIS clam Is on prOmissory note ior 81 ,0OO
with interest. When this case was mentioned TO
the Court yesterday counsel for the Printing Com
pany stated that they were ready 10 paw the debit
but as IN the other petition the offer was not &C
Cepted. The order to show cause why the Printing
Company should not be declared bankrupt on the
petition OF Mr.. Devln Is returDabe next saturday.
In The course OF the above proceedings II was
stated there was every reason to expect that, the
winding up Of the affairs OF the Ocean Bank, there
would be assets enough TO pay every dollar OF It's
Indebtedness. II this be so It VIII prove to be very
agreeable intelligence TO the depost0rs Of that
establishment.