New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-31

| that purpose the several members promise
| to pay on call a pro rata Of their interest to
defray the expenses to be incurred; and
| that the committee secondly named obtain
signatures of stockholders and depostors
who will act with as in this matter Tor the
purpose OF making joint defense.
Mr. Wurzburger wished others to offer
plans and discuss the matter. He desired
them to unite in their defense, for, If we
are all to be sued, body Of three hundred
defendants is of great deal more weight
than single ones, and i we are to take legal
steps the expense would,be less. Mr.. Cock
rem is in possession and no remedy should
be ost sight of. If committee is appoint
ed then there will always be some one alive
to our interests. He did not know why this
bank had been singled out from all the
other banks IN the country, considering the
peculiar circumstances in which all of them
stood. If the officers have been remiss they
should have been notified. A distinguished
attorney had given his opinion that
the action OF Mr.. Knox was illegal.
That there was no cause for this singing
out. Other gentlemen may consider the
hoped they would express their views.
A stakeholder thought the resolutions
were somewhat premature. The first thing
was to make an appeal, without resorting
to law. Mr.. Knox may give way without q
suit. Law entailed great expense.
A gentleman remarked that Mr.. Knox
was not likely to give way while the bank
had a suit for s., 600, 900 against the United
States.
Mr.. Wurzburger was glad the question
was discussed, but he hoped there would be
no prOcrastination. He did not want to
resort to the law if it could be avoided, but
wanted to leave that matter in the hands of
the committee.
Governor Hahn said these resolutions
assert that the action Of appointing a re-
ceiver was illegal, and Mr.. Wurzburger
cites the opinion of eminent counsel to that
effect. 1t is worth while to make these rep
resentations to Mr.. Knox. If he fails to
give attention to them, then would be the
time for legal action. Some courtesy was
due to so prominent an official. The same
committee might ask the Controller to take
note of these facts and also pursue
the other course, if necessary. He would
have the committee given power to do
these things and try amicable means before
proceeding to a law suit. He was not &C
quainted with the facts. The law required.
before receiver could be appointed, note
to be protested, or the statement of the
president Of the bank before notary that
protest is unnecessary. He thought the
idea OF Mr.. Wurzburger to acquaint Mr..
Knox of his error, as there had been no
protest, was the correct one, and if he re.
fused to acknowledge it, the case would be
SO much the stronger. He was not stock
holder himself. but represented 200 shares.
One fact was that Mr.. Cockrem was a
stranger to the affairs Of the bank, was not
merchant Of the city nor banker. He
only knew him as a politician, and thought
Mr.. Knox should not thrust political con.
siderations on matters of personal interest
in dollars and cents.
Mr.. Aldige stated he had gone to Wash
ingtOn with the cashier OF the bank and
had made a statement Of it's affairs to Mr.
Knox, who adjourned the meeting to P.
M. Mr.. Knox stated he had the right to
appoint a receiver, first, because the bank
was not in life; second, because of over
drafts. He referred to section forty-two of
the act of Congress. But if two-thirds of
the stockholders applied he might appoint
such receiver as they desired. Mr.. Knox
said he would examine the papers. file
them if they were correct and return them
if they were no: with proper blanks. Mr..
Knox gave tim 20 understand that If the
stockholders were unanimous then he would
grant their application.
The resolutions as originally read were
passed memo slls.., ;eruie.
The chair then appointed as the commit
tees called for by the resolution to proceed
to Washington. Messrs. Eo S. Wurzi.urger,
J. l.. Gaufie.. George W. Lee. of ths stock.
hOlderss and y. !a:vonssini and William
Mehle. Of the degos!tors: and to solicit sub.
Messrs. N. K. Pepin. jules
Aldige and Peter Hloppman, who will, by
advertisement, designate some place where
the stockholders can meet and sign the
resolutions and the subscription list.
Mr.. Jules Aldige being director declined
serving on the committee, and Mr. n. A.
Llambias was appointed instead.
The meeting then adjourned.