New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-17
PANIC SEQUELS.
KENYON cox 4 co.'s ASSIGNMENT.

-. ,>,n ,,rpsos.I PROPERTY OF FIRM
ASSIGNED TO wM. l. scofi--NN"AA' UT inh
~nrnT,ops-sR. pREw's GUARANTEE AND sEcu-
prrrrs FOR THE PAYMENT OF HALF MILLION
IN EIGHTEEN MONTHS.
-s,u no romenbered that the origin of the recent
manic was attributed iupart to the iahure Oh heon
E.~S % IN which Daniel Drew Is special part
80 - ,he embarrassments of the Canada Southern
pa,iyvay Company, with which enterprise Mr.. Drew
- Ra,von Cox & Co. were identified, having in
,oraed n great deal OF its construction paper. The
xfreet rang tor time with the failure of Kenyon
Cox & Co., and it was freely asserted by some per-
SONS that their suspension WINS due to Mr.. Drew's
sosire 70 manipulate the stock market for decline
Soon after the failure of the firm of Kenyon Cox Il
Co. William l.. Scott. a director in the Canada
Southern, Lake Shore, and Toledo, Wabash
and Western Railroads, began proceedings to place
Daniel Drew and Kenyon Cox & Co. in bank
ruptcy. After the case had come up for coDsidera-
Non several times il was finally settled or at all
events withdrawn. and subsequently an assign
,nent was made of the real and personal property
of KENYON Cox & Co to VIM. l.. Scott for the bene-
at ot the creditors Of the firm. full copy oil the
decd Of assignment is given below, from which 1t
onnears that the creditors agree not to bring any
action against Daniel Drew on account of any claim
AGAINST Kenyon Cox & Co. until the expiration OF
,smonths from the date of the assignment, or unth
he shall make default in his guarantee of $4,000
FOR which he has deposited securities and bonds and
mortgages ,,,,ox,,-xr
This ndenture made Oct % 1873. between the copart
pership OF KenyonGCox Co. Of New York. OF the nrst
mart and William L. Scott OF Erie. Pa with place OF
business at No. 10 wiamst New-York, OF the second
part
whereas the party OF the first part Is unable TO meet
It's and possessed Of and entitled 70 divers
propery and estate DESTROYS OF assigning the same for
the benefit OF creditors the manner hereinafter pro-
yided for;
Now, therefore this indenture witnesseth that the
oarty OF the part consideration of the premises
and OF the sum 81 to II paid by the party OF the second
mart the receipt whereof is hereby acknowledged,
hereby grants bargains, sells assigns, transfers, and
sets over unto the said party OF the second part and his
,uecessors and assigns, all and singular the partner
,hip. property. and estate. real and personal
Shatever and wheresOver OF the said firm
OF KENYON Cox & Co.. including all the assets,
stocks chooses in action book accounts, notes. bills,
BONDS Judgments money. chattes, effects, claims, and
demands due, owing belonging to the said firm OF
KENYON Cox Co.. with all books papers. and vouchers
relating thereto.
To have and 10 hold receive and take the premises
hereby assigned unto the party OF the second part and
his successors aud assigns in trust nevertheless TO and
for and upon the several aud purposes, and
with the powers hereinafter mentioned and declared
OF and concerning the same, that Is 10
say: Upon trust collect receive, realize convey, ana
dispose Of a. public or private SALE oil aud singular the
said assigned premises and to convert the same into
money; provided however, that sale OF any of the
assigned stocks or bonds shall be made within
ak months from me aate n nereoI S samUei
u. BaDcock, their legal representatives, re-
speotyey, thereto first had ard ontanea aug nelsn
OF them shall so consent, then aoout one mar
OF said stocks and bonds may he sold in The dsere
the expiration OF the said six months and provided
also that sole Of The residue OF Ine s89 s2ik and
hereof without the like Consent Of said Drew Or BGb
cock, or their personal representatives respectively
e% ,ba Sa s eo9sen then S the sad resi-
due of the said stocks and bonds may be sold.
time S after the expiration q the said one year
divide ana Distribute from time TO time all the net pro
eeeds which said his successor shall real
the SAID assigned estate 10 aud anoOg all the
creditors the said firm of Kenyon Cox Co equally
PRO rata according TO the amount of their respect
I've claims and demands. Including Interest exel9oihg
said firm Of Kenyon Cox Co., given for the aeeommo
daton OF the Chicago and Canada southern RhLway
Company, aud of the Canada Southern Railway Com
pany and " ls Y9eds Csnada southern and De,LU'
any and ali dividends that will be coming 30 the SAID
railway companies respectively, Ghasr tnS pro
orseToents and aeceptances shan have been fully
discharged or released by OK through he saiu la"$S
And the party of the first part hereby const-
totes and appoints the party OF the secoeu pal
o1nd or Otherwise agree with any debtor debtors Of
the said firm whose deos are hereby assigned whe.e
due releases to such debtor or debtors. .. a.,
Aud the partF OF the second part hereby accepts e
trusts hereby reposed IN bim ana sighncs LIS
thereof by executing these presents -
This assignment Is made with the concurrehce anu ~
fave subscri ned their names 20 the scheuue hereto
annexed headed The foregoing assleh1ept ~ IeleS
p,icrs IN of the promises aud Of 81 paid
xRree that they will not bring any 5cuOh OI iao tsS
pr c,iro against Kenyon Cox Co. uutii the expira-
f,on Of NJ months from the date hereof And Tire sa1d
assignee for himself and MS successor III
and gees that he will not such assignee commence
a. 70 any matter or thing whatever, until the
said Drew shall make default III hlh guarantee CT agree
men is ppSeTstood and agreed between the parties
hereo ma arN creditor party hereto. and that any OF
sht pa s fe 10 time 10 examine the books and tr9u
actions OF the said firm aud OF the salu assiguee IN ,nc
ourse OF his administration an1 all Vouchers anu PAPERS
" hereof the said firm Of Kenyon Cox co.
and Kenyon Cox, Horace Manuel ana VIM ~. u b
son members thereof, nave hereunt0 SET thelr hanVS
.nD 0e''-' ~ - KENYON Cox Co,
HORACE MANUEL,
VIM. H. HUTCHINSON,
WILLIAM L. SCOTT,
eeAled and delivered ia the presence OF
Witness ALVIN BURT.
ALFRED TAYLOR.
NIB g. l. 6"ineluding interest iuerined
Sat Of York; Gig oHd County OF Neic ark S.
ON tins Gh day November, In the year 1873 before me
personaily came Kenyon Cox, Horace Manuel, and WIZ,
H. Hutehnton known 70 be three OF the lnulVa-
strurnenf and severaly Acknowledged 10 that they
executed the as their indiyldd1l act ana deeo
nd a. no and decd OF the hrm Of Kenyon Cox a.
Co. and sad William H. Hutchinson, being by me duly
sworn, sad he resides in the eity OF
OF New YoIB ana that the signature Kenyon Cox ~ Co.
e. said nstrument was the signature OF said nrm made
by member thereof g..
Aud also, before personally came William IT, scott,
90 me known be Of the individuals described IN
and who executed the foregoing Instrument ahd &C
ALFRED TAYLOR,