, 1873-01-21
THE REPUBLIC.
Shall tile Stockholders Stand Another
Assessment.
Sixty Por Cont Contended for by
the Assignee.
Tho Question Postponed for
Eight Dnys.

'LhC question A'OSCpOneu ZOE
Eight Dnys.
Yesterday morning, At 10 O'Clock, WAS tho tino
aot, according to tho rulo Of tho Court, for
tho appearance, boforo Judge DIodgett, In the
Unltod stntos Court, OF tho stockholders Of tho
Republic Insurance Company, to show cause
why tho Assignee Of that bankrupt institution
Should not mako M aBseganent Of GO per cent
upon the stoch, to obtain money whcrewith to
sottlo tho affairs Of tho Company, The court
room was filled with attorneys representing
stockholders In various paclB Of tho country.
Tho ball was sct In motion BY Mr.. Campbell.
who, as tho attorney Of twenty or moro stool-
holders, applied for m extension Of thirty days
In which to flo an answer to tho rulo, az aomo Of
Ills clionts, being non-reaidentB, had only ro
coivod notice tho previous wcols, md therefore
had not had timc 10 prepnro thor answor. A
statoment was curront that tho original assoas-
mont Of 20 por cont had mover boon paid in by
all tho stockholders, and that, IL It had been paid
in full by all, tho assessment now asked would
not DO necessary.
MIR. Charloa Hitchcock, alBo representing nll-
mcrous stoofiholderB, aecondod tho request for
tllirty days extension, saying TINT, in connec-
tlon with tho rule to show cauao, various ques-
tfona must be litigated before this Court. It
waB understood, among other things, that a corr
siderable quantity Of tho stock had boon retired
Illegally, aud 1t waH essential to lavo timo in
whlch to prepare MI answer On this and othor
points.
Mr. Knlos, appearing in bollalf OF stookl1olders
at Alton, ILL.,. desired furthor A,no. Some OF his
oliouta claimed not to bo out-and-out atockholl-
oru, whilo others claimed to have beeu deceived
and imposed upon In such manner rs not to
make them loyal stoohholdors. Tho assessment
called for WAS unnecessarily large, az 1t would DO
phown that .spocinl obligations Of individual
stockholders bad boon received in liou OF money,
mud that these amounts Blfould ho collected bo-
fore another aBsoHBment WAS ordered. He waa
not prepared to file al answer, and asked thirty
days. "
Mr.. Chas. Osborne, Of Rock Island, represont-
ing fourtoon Stockholders III tint city, was not
prepared to answer. He beloved that his clients
had equities which should be acted npon In this
court III connection with tho order for tho new
asBessmout. IIo should undertake to show that
in mauy caHos tho first loyy WIS paid in cortitl-
catos Of the Company, md not In cash, and 30
wcre not payments. -
Mr.. Wheaton, Of Aurora. acting for atockho1d.
ers tloro asked for further time on tho ground
that 1t was advisable and necessary for the at
tornoys to got togothor mud decide upon limo Ut
defonco, nnd 80 ngroe upon an answer. 1io
should charge fundamental change In tho c!lar-
ter Of tho Company, whereby cortain stockhold-
ors were released from responsibility; also, that
portion Of tho obligations Of cortain Btook-
holders Ind beon ro!oascd illegally; aud should
chnlleuge the Legality Of tho Organization. 1Io
appeared also for Nlr. Dovino of Sycamore, in
wloBo behalf nlao lo asked further time.
Mr. s. NJ. Norris OF Fort Wayne, represent
ing tho stockholders In TINT city, said that he
should Ret up tltat stock had boom issued III OK
cess Of tho amount authorized by law, aud that,
therefore, tho contracts Of certain subscribers
wore not obligatory upon tlom; and also that
claims against tho Company had boon rolin-
ql,ishod III favor Of various favored indiyiduala.
He asked furtlor time.
a1r. Z, D. AlcCagg, Of Chicago. said thcro
wero two adcs Of equity in tho cano. Flo spoke
Of tho widowed and orphaned stockholders who
had already boon required to pay a levy, and to
whom tho difference between 60 aud 20 par cent
| in the assoHsmont WINS asked for might bo tho
| difference between comparative oase and abBo-
| lutte ruin for the rost Of thor days. He Ind
| looked over tho affairs Of tho Company, mud WIS
unable to SOC Why GO per cent should be ordered,
unless it was ordered to enable tho
! Assignee to play into tho handa Of certa!n
favored Stockholders by returning to them in
over over those of tho atocthoidors WHO llaa only
paid tho original 20 per cent. Ho hoped tho
question xpuld not 10 decided without giving
! time to show how muoh was actually needed by
DO done, that, because Of the neglect Of hia duty,
! tho Assignee now asked for II por cent that he
might mako up doAoit causcd by his negli-
gence.
o11ara tI i, e 5aneara IL, inina in
ta1 the rnoncat for III t1ava' N' '0''0>'
III hs H. t;r T. ha turo1 ct ~ nronan1y g. hn
a natd in roatn NEe ta na,,tja,no faI coo ;,,o
au Gnurt Ei NJ co1,ao To- a,,nw bt a1 aakc for
| 1o,,e naatnnnoraont ria anmn IaciicH Ind
.u.b pnti y; H. %,,lor oaso srhnra aorid ho ~
,ioa y 1oc| ~ timo tn nronarn m answor Tho
nnt'tn,, ~ a = f1c1 r.; 1ccambcr last and waa
p"i;soG W. 10 1 III tho ;caro nanors % s i nmat
Rova hoo,, Lnorvn to tia sfockl,pl.lera' Tho ira
ia,,,,a,nJ uonr o,'1 boiS 100 AMI hv ti,is t;mo
tpn r;,,yt have ,nnd 5,,t vIot yycra tho;T
tns ,t;as onI i,a;,itea j., tha mattnr Mt
a'6to' ,a conoa Into noMrt Viii y comsn IN h;a
.no1st1, hi III won't Gniayrnnth;nr oiao. Tho
A4.DuptAs -. - 't'AS 4,1 H.1 s..i4