, 1873-01-29

The Republic 60 Per Cent
Assessment.
Facts and Figures to be Proved BE-
fra the Register

t1I0 The h6glht6l'
Tie Great Western Telegraph cass---
Bankruptcy Notes. -.
Thu matter Of the GO per cent assessment on
tha stoc. of the Republic Insurance Company
rnre IN before Judge Blodgett, in the United
states District Court, yesterday morning.
AR McCssg said several answers had boon
a1ed which evidently required the taking Of
,roof npd he desired to know whether it would
Ia taken in Court on Saturday, or before. :
Tho Court thought the proper way would be
,or him TO look over the answers, or aspecimen
~ them. and refor them to the Register in
bankruptcy for the purpose Of taking proof.
There light DO material matters set up.
In referring them to the Register be
xonld indicate On what he should take proof in
order to limit tne line Of examination. He
zould mako an order in the course OF the day.
Mr. Tenncy was willing that testimony, on
noHce. eEould be taken before the Register.
Mr.. Kales understood that at some stage Of
tho proceedings before bankruptcy, the Company
made an assessment upon MI Of its stockholders.
tll44A ~AAN A~A~SN
rent, but larger number had paid nothing
mon it. He supposed, hence, that in an order
n assessment to be inside, the tina
should be carried back far enough
10 ASCERTAIN what ought to hsve been.
rsid by the stockholders, giving credit upon the
assessment for any instruments that we're paid.
Otherwise, if an assessment Was made st the
present time, it would be an unequal assess-
f>o rnnf3a n%.{ In
stockholders who had already paid moro than
their associates would be compelled, in the ag-
gresate, to pay larger amount than :heic due
proportion. He suggested that. in the inquiry
before the Register, evidence DO admitted to
show the propuety Of carrying the proposed as
sessment back to u proper period 60 that
those who had paid more than their associates
may have due credit upon the assessment for
what they had already paid.
Tho Court considered that matter OF con-
sideration when an order for the assessment Was
made.
III. Lawrence understood that the matter was
ect for final hearing on Saturday rext. Was
Il! the testimony to be IN before that dny7
Tho Court eaid it must be.
aoIS1 BACK TO FIRST PRINCIPLES.
Later in the day, His Honor took the preced-
ing matter into consideration, aud apparently
determined to strike at the root OF the difficulty
1y issuing tho order referred to below. It may
hsye been observed BY the intelligent reader Of
lie law column how speedily the points at issue
in legal contests become entirely hidden under =
raass OF questions connected solely with
the practice of law, and having nothing What
eyeF 10 do with the principles involved in the
case So it YVES in the matter OF the Republic
Insurance Company, where the original question
Ct whether OF not the Assignee shall be Allowed
TO make an assessment Of $50 on the s10o due
b. the stockholders, threatened, at no distant
tay, to dissolve into mere arguments based upon
tAa assertion male By either side. Judge BlodEett
gone bsck to s9s p51neples, y drfStng f6a ne
1aeuts nov before the Court are founded t is
yszy easy for an Assignee to 6Elng
forward, in support OF his l...Nts v1exs'
III se 1Sa9s is ct dt sTsd aa h. sono hs1
rs 1 fssass z It his IS command to
together another thing to set behind such fG-
tres and statements the vouonefe, tne papers,
lie equivalents, the documentary evidence, that
2s1hing before it but ststements, be has Or
os:-' the Assignee to attend at the Reglstera
1,-.ce sn- morning, with proof IN support OF aA
.e;.; 80 iss.e III figures adTanced IN NE late
g1ven lssTe to An ths persons who have
b to estabah ~ facn pf%o1 70 10
Ieratons IN sncb ansTarn snd to q R,e;aer !.
dHtced to make AXE bis repoa b sn9 oa tho
coming in Of Court when the counsel represent
iag tie parties Will bo heard, and the Court
cone ~. to o d decision, i time permits:
':he order In question after formally stating
tie Court goes on to direct the Register to take
proof on the following points:
Iirst-WhAt is the total amount Of liabilities.
seco1d-Mhat Is the value IN cash., 80 tar as
can ne state9 o. tne assete' exclusive OF m
PED stock capital
Ih!Ed-What ls the amount OF unpaid capital
tteck-'
TIE HIEoaAPH ooXRASY.
Yesterday morning, at half-paHt 8 o'clock,
Lcfore the meeting Of the shareholders Of the
Great Western Telegraph Company, elsewhere
reported, took place, the complainants and de-
5csdants in the suit, which has dragged the
company into chance1y. and oocaeioned
such meeting, namely, TerHilltger and the
Great Western Telegraph Company, ct