, 1873-02-07
ADMONlSHED,
Judge Blodgett Speaks Plainly TO the
Assignee of the 1Vinnesheik.
Els Removal from Office Denied, But
He is Admonished.
The Company's Plan Of settlement'-"The
Insurers to Pay Up, and the
Capital to Escape.

-
Insurers to Pay Up, and the
Capital to Escape.
Jndee Blodeett yesterday denied the petition to
remove ". La1nbe, Assignee Of the Winnesheik
Insurance Company, On the rule to show cause
coming up for hearing; with IN admonition to
the Assignee, as hereafter reported.
The grounds stated in the petition for the re-
moyal we're, briefly, that the Assignee WAS incom-
potent, that he WAS acting III the interest of the
rivers of secured notes, instead OF the creditors
and that he had failed to file the various reports
with the Register that tho Bankrupt Law requires
to be done for the protection and information of
the creditors. Tho petition was summarized
in this column when fled The answer
IVES yoluminous one; it denied the various al
legations, and reproduced copies Of reports
r,de by the Assignee which had been prepared
according to law, but by unfortunate mishans
had not been fled with the Register.
The reading Of the answer and reports occu-
ried considerable time, after which counsel for
tho Assignee addressed the Court. he urged
the Court to consider that everything showed
the Assignee to hare been honest and honorable,
II not go particular in the observance Of his
duties Is strict regard for the law might require.
With respect to the charge that he had failed
to make monthly reports, he had this e1-
cpss to offer, that he had TALKED matters
over with the Register, explaining the condi-
ton Of affairs to him, and giving him
such iuformation as the meagre character Of
the accounts would permit, when the Register,
after hearing what he had to say on those points,
gaze him to understand that, provided the facts
andfgnres were as stated, it might be inmate
r;al whether or not he went through the formal
ity Of filing report; in point Of fact that where
tre amount involved was 30 small as it appeared
to be in this case, the report might be dispensed
with, so long as no injury was sustained On the
part of the creditors thereby. He strongly
urged the Court to consider that if the Assignee
had erred, he had erred in accordance with the
counsel, or permission, of the Register
and that no injury had been inflicted
in consequence Of such neglect. He admitted
that, if the law made it absolutely necessary that
IN Assignee should file those reports whether
tie doing so should be Of any advantage to the
creditors or not, and that this Assignee had not
performed this duty, then that he ought to be
removed But he considered that the law per-
rnitted the Judgment Of the Court to discern
cases where there might be extenuation, where
IN iron rue co1lo sca1cay appiy, IS In I11s u 4
s1ance, wuelo Iue no!o n11 eu E1aI 81 ~
where no good could have arisen by the mere
fling of them, where no harm had arisen from
tho not fling Of them, end where the Assignee had
teen sus.alneo M u ns i9 s,+h ~ ,0 n 3na ss1,e
agusu loi ei,s IT. =; +h;a onan
euau, e.!Geus ne.iaat e. -er. ~ s;1-.r,,a ~
hIcacn o. ausy anu neeitc1 ~ ~ Wy
qu1enc2t OF tns NV NY lhe 4n5s len, ~ ~
~ tIa1 uo ~ - va eas a,,h,;tta5
u,.Se ~ a 1er1v n the natt;on
- tae paEst1o 49, -. - -; - a1z :rn,5 ~ f. 1oa,t
1os Ietaovai, tnan ~ " n,s o"n ~ afarrad ~
otnes pe1lio'1s y! W. eaa1 .,ort of 4,,e ~ "
1ne esences contet' 'Io TO- oaa,, ~ kat Ia
s usllS =. tns "a isLs tha,, s1an nnn s1to1athar
su Io~te e%e coTs;5ar;no t1,a u;i1e ;stanco
;x+r::., IA ato,lholders a5d c,vars of notes.
nttacen tho seocanoloeis au s.tois ~ u Aoseo
aao 1n1 nlooo7s.1 :,as asI'AA - ohts;a;,<v =
9tso' taoo' +au,sad o3'eo ~ NA sorna 1sS,,ts,
rs s;.,, sv ~ ~ "a II, Ike nra1n;n ~
o. tno oas4;an snd a1n1assed the firm heief that
cuo,ch coe1 1nonnv conid be- collected from HAT
enousn 'n money aas evu ~ 10 ;ndo,ieJneas - +Sa
hoTE,,int II tha ASSIGNEE had GOOD Ground to
,,ntaa .i,at 80 farorshls resn1t ron1d he
arad soEsvsvd ra ~ fana'v satt1anant With the mr.
~, concarned he could not int think that the
go .vn7,,d ro,av5 i "a a far rraferahle cnuraa
y, enter;rs- 1.nnn IN eTncneiye. tadio1s. and
haonantlv disannoint;nr series of lawsuits.
aaralnfGra II t1a Aasirnee Ind made slow nrn-
4rrass + Ln5 bean safa. and what had been done
led hae,, accumulated for rood Besides hehad
mt r,o,1v neflected iitieation.. In yarious
Sntas e. s. 1yl,sra ssfnements iv neaceabio means
bad moved honelesa. suits had been begun, and
TaTp now in progress. Tns- had been watching
Tia decisions nf tbe Courts. and we're not negl-
.ent nn ~ sair dnt;es n there From decisions al
Tss5r o.5a oood res1,1ts micht fair1v he exnect
~ ;sad ,eheenever i va fonnd that til law thov
ms. ~ 20 they won1d follow The obvious path.
T5,s Ass;anee Ahnnld ehoye ali things. be dscreet
intha cn5,inct Of the asfa;rs entrusted to hin,
~ ~ ,nat th;,, ~ e shon5 dn 1zithout ;ts ne,
ees.v ras rs' dernnnetrated was to rush Into reck
ia 1;tiration n fila iine Of policy the As-
10 d;eo5 -, ;ntareata md s,crfced
Iaa 1,ad ~ ~ cn3'rt ~ ~ theae
a9u e M ~oaa;deSai;on before MASS.
a ~. ineo
1S Oh tIe peIt1on. n' .:.;a .ofoxzoa T., Tho "a
Coansel 1or me pet9ne1 ~ " ~ haet
PIT oslote t19 onis a'es r. 10 40 9sss
pooI 1nas conla pe gt.en enat ~ tI hs Far
oa n.~t Ia Ia iat be Mas Unable to M
s ps ne l,Id LIZ cau" u " ;nta Gomp unnn
ueistano tnat Man co14a co4uo 1nso Gou1s uFo1A