Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1872-02-03
IMPORTANT CHANCERY k'RO-
CEEDlNGS.
Tine Bank of Tennessee nnd It's ID.
posttors Demurrer TO Cross Mi

Tine HANK OF Tennessee una Its De-
posttors-Dcrnurrcrt TO a Cross nil.
A short time since some thirty or
/ forty of the largest depositors OF the
Bank of Tennessee by rattorneys,
Messrs. Humphreys aud Lindsey,
filled cross. bill in the case of the
State OF Tennessee and s. Watson,
trustee, va. the Bank OF Tennessee ct
ala, now pending and undetermined
in the Cllancery Court In this city.
Their object I'M filling the ross-bill
being to enforce the collection of the
claims out Of the assets Of the bank
IN the hands of the trustee s. Wat
son, and to hold the State liable to
them for any deficit and to specially
secure lien in favor of the cofYlplain-
ants for the satisfaction OF their
claims amounting to about one hum
dred and twenty thousand dollars; on
a certain portion Of the alleged capt.
tai stock of the Bank of Tennessee
now in the hands Of the Treasurer
and Comptroller of the State
which they claim never was in the
hands Of the Receiver and Trustee Of
the bank.
The bill has heretofore been pub
lished. To which said cross hill the
attorneys for tile State and Bank,
Gen. J. b. Heiskell, Jas. M. Quarles
and ]. c. Thompson demur and file
the following reasons as causes for
the demurrer. The defendants come
and demur to the said cross hill and
for cause Of demurrer they show tn
the court:
1. Under the guise Of q cross hill
the said bill IL an original bill against
the State which has no warrant in
| law.
2. Under the guse of bill against
the officers of the State namely the
Governor, Secretary of State, Treas
urer and Comptroller, the said bill Is
a bill against the State.
3. The said bill directed against the
State seeks to attach the funds of the
State i'm the Treasury of the State.
| 4. BY the original bill and the nat
granted I'm accordance with the pray
er thereof, all parties are enj0ined
| frotn suffIg oft any Writ against said
bank or trustee, either OrlgifTalJ fn-
termediate or final; or commencing
any legal proceedings whatever
against either In any court of law or
of equity in the State Of Tennessee or
elsewhere. tf
S. The prayer of the said cross-bill
to have the debts, liabilities and or
der of priorities ascertained, Is the
same with the prayer OF the original
bill, and the relief sought by COM
plainants In the cross-bill, should
properly have been set up by them
in their answer to the origial bill.
i,<~ -
bill is based on the erroneous assump-
ton in law that the State Is liable
behind the Bank of Tennessee for
the debts and defaults of that bank
7. The deed of trust by the Bank
of Tennessee to $. Watson, and all
the purposes thereof, are good In law.
s. The school fund was rightly
made q preferred debt In said deed
of trust.
8. Whether or not the seizure Of the
specie of the Bank Of Tennessee, and
appropriation thereof to The dpficien-
cies Of the school fund, was justifia-
bic In law, 1t was nevertheless All act
done by the uis major during the sus-
pension of civil law, and 1t has re-
manned undisturbed many years, and
the repose of society requires that 1t
be now acquiesced In.
Wherefore, and for divers other
good causes manifestly appearing In
the said cross-bill, the defendants
pray the Judgment of the court
whether they be required any further
answer to make.
J. b. HEIsKELL,
j. M. QUARLEs,
j. G. THOMPSON,
Solicitors for Defendants.