New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-12-02
THE UNION TRUST COMPANY RESUMES.

The Union Trust Company resumed bnsl-
ness at A. M yesterday, the officers having worked
with the receiver Mr. Wesley, until n M IN order 10
get the affairs of the institution in complete running
order. The following are the officers;
President Edward King; First VIce-President, James
NJ Mclean second Vice-Presideut, Freeman Clarke OF
Rochester; Secretary, James ii. OglIVlei nkecuuNe
/ Wiihams &. ID. Ward, William Whitewright, Jro l. b.
Wesley and Samuel Wiletts
Geo Cabot Ward was elected trustee on Saturday
The following order, releasing Mr. Wesley from his re-
o.iyership was signed by Justice Fancher on Saturday
and was fled with the Equity Clerk Of the Supreme
Court yesterday
ordered that the report OF the said referee be ana
the same IS hereby In al things eohIeo an1 j.. Is
further ordered that the said receiver 40 ornwn pay
over, transfer and deliver 10 the Defendant In thls
action ali the said moneys property ana eecIs Pr rt
COMPANY OF New-YOrk; and further tnat upon ming
with the clerk OF this conrt the receipt OF the PRESIDENT
If the Trust Company setting forth that the receiver
HIS herein directed the said receiver is there
npon discharged such and further that the injunction
clause of the order made herein on sept ~ lsS, anu al
inconsistent herewith or made IL the ABOVE EMU
given any control interest in disposition Of
property funds Of the Trust Company be hereby
vacated and further, that nothing contained herein
shal the abatement OF any proceeding begun by
Edward b. Wesley receiver Of the Trust Company OF
NewYOr shut that all such suits OF proceedings by the
Company IN the name of the receiver may be prose-
cuted by the Company IN the said Wesley as receiver
plaintiff In the place OF Wesley and whereas appears on
Tue statement OF that the order Of reference TO
certain the appropriate amount for compensation 10 the
receiver and his counsel has not been acted upon now
on motion OF Dawes and Work counsel for the receiver
n s ordered that the order of reference TO Clifford
hand ESQ., ascertain such amounts be hereby vacated
end further the receiver retain IN his hands 10 cover
aHeh purposes the sum OF $4,000 aud his bonds
s liable for the proper disposition OF the amount SO
retained.
Accompanying the report the following receipt from
EdWard King, the new President:
Supreme Court Augustus W Kelly. II. agt. The
un%n Trust Company % tom the ed matter
Wesley late receiver iOf the Union Trust Company, the
sum Of tCs95 49, less $4,000 which sum IL retained by
Wesley under the provisions OF order made herein on
and also all the property FUNDS, and ehects
nj the said Company in the hands Of the said Wesley
Missouri, Kansas and Texas bonds, which the said
Dated Nov %, 1873. EDwARD KING, President.
At the opening there a long line Of depOsitors
awaiting to receive their money for part of 1t, but
sbere was no appearance OF during the day. Com
pafatyey few drew out the full amount Of their depos
Sta and many new deposits came In, among which was
one OF $4,000 The debts OF the Company resuming
business were stated at S. 10000 its cash assets 100000
and convertible securities t2225t0O There was paid out
during the day O. 100000 $40 depositors Of whom 1GO
were paid in checks and $50 in cash. When the clock
struck than Is depositors remained IN the
nne and Is minutes later the days payments were
.uded This is not much like panc said one OF the
,erks al, rather different from the day before We
slOsed business"
Mr.. Wesley said to TRIBUNE reporter that the Com
pauy never ought closed business If they could
have known with certainty the amount OF Cartons
abefts The accounts were left by him in such a
Soeed state that il impossible 20 discover with
out thorough investigation. whether the populations
amounted 10 thousands millions and safety required
them 70 stop The losses however, fully covered
by their surplus, and the institution was ID safe
condition.