, 1873-05-09
The Masters Reports Completed as to
the Persons Indebted for
Unpaid Capital.
4 Specimen Brick from the Pile Of Uu-
willing Witnesses, and
Evidence.
The Modes Resorted TO TO Discover the
Names Of Honorable Citizens
Who Must Be Compelled
to Pay Up.

The Master in Chancery Of the United Slater
District Court, Fl. ". Bishop, Esq, has NOW re-
ported On the various causes brought by ths
Equitable Insurance Company against the stock
holders; and the attorney, o. q. Horton, Esq.
will, to-day OF tomorrow, apply to the court To-
decrees sgainat sone twenty-five or twenty-fou:
stockholders.
The evidence OF the Secretary, O. II. Barrett
showed that the capital stock was 9200, 900. Th.
Company could not be organized until per cen
Was paid An assessment OF 20 per cent wat
made, Of which the S per cent Was paid at once
and the Is per cent within fen months. Wit.
meas did not know how many dividends were
paid, but he knew the percentage Of diyidende
declared, namely, so per cent. These dividends
we're not paid, but applied to reducing the stock
notes for tha entire amount Of stock subscribed.
Sales Of stock were not effected by trsnsfer
but when holder sold his stock he gave up his
certificates, and his notes wore returned to him
cancelled ! ard the new stockholder would re-
ceive separate certificates direct from the Com
psny, IN exchange for which he would give his
notes, properly secured and approved. AL the
books OF record Of policies, stock, re-
ceipts, expenditure, and auth-liks, were con
eumed in the October fire, and witness Was
consequently unable to Bay how much the Com
pauy was loser by the fire. The bonds and
mortgages were kept at the banker's, and we're
: snyed.
The question whether the losses by the Octo~
ber fire exceeded the assets in hand Tas object
I'd to, The witnesa stated that from the fact
that the claims proved up against the Company
exceeded 81 300, 900, be should suppose that they
did.
The question, estate whether or not the en-
tire assets OF the Company, including all unpaid
balances for stock, would be sufficient to pay all
liabilities, and the answer, *.Not as under
stand it," we're both objected to, and
eusnce @ % Of information On m this this point p
various questions were asked, which finally
elected from the witness the doubtful statement
that he would not take the assets, and undertake
TO phy the liabilities.
1ho manner in which the information as to
who essstockholderH was got out Of Witnesses
is e1emplifed in the following examination OF
the Secretary:
-Q.-Do you know J. Young scammon7 Al
dc, si1;
in the Company. Ale has been.
: Q-Was he at the time Of the ire3 Al am
unable to say.
Glow much stock did he hare Al can
not Say, sir. My impression is that he WAS ono
Q.--What is your best recollection. Al
hare, sinc6 former examination in regard to
this matter, looked up such information as
could get, from such persons as could give me
information as to who were stockholders, and
from q man who had been solicitor for the
Company, who inquired Of in regard to it, as to
whether be had not some circulars or papers that
would give information, and he brought down a
little slip Of paper, the back Of an old policy that
vas issued in 1854 guess gave that to you.
From that, and from conversation With him and
others, and from the best information We could
get; we arrived at q number Of names Of those
We supposed 10 be stockholders; but OF a great
many OF the parties who hold stock, We have no
means Of knowing. 4 great many Of the original
stockholders held less than So 600, many 81 900,
and some even less than that.
Q.-Had Mr. Scammon less than $4,000 4.
The least he would be likely to have would be
$4,000.
Q-He Was then one Of the original stock
holders for 81, 900 /? Al think 60.
That is all they could learn about Mr. Scam
mon and this conversation is g fair specimen
Of the others.
" The Assignee and the attorney have discovered
The holders Of about $1,000 Of the $500, 600 Of
stock subscribed, and have information that will
LEAD to the discovery Of most Of the balance. :,