The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-02
THE BULLS HEAD BANK.

| Stock i.oiders end Directors yesterIa-
The Old stocks Refine acknowledgements
1 or New shares In Order 60 Reea pftal-
| ise-OnIy SE5O. 900 Hceded- $50 900 Paid
| In-ResoIutioas and contracts-1eor.
ganixation at faand.
The stockholdets. depOsitors and directors 81 lhs
| Butts Head Bank held q meeting OF interest snd
impor TO the cnmuiunity at large IN the psr-
for OF the Ashland House, Twenty fourth street snA
Fourth avenue, yesterday Ssternooa- NJ John w.
Williams President OF the Metropolitan Nations
Bank. was requested to take the chair. UDoe
doing 80 he referred briefly to the obtect
Of the meeting and stated the progress OF
the plan adopted st the last meeting for
recaptazing the Bulls Head Bank under tho
direction OF the committee OF five then appointed
to carry its designs. After the reading OF the
minutes by the Secretary. Mr.. j. M. Fuller. Mr.. r.
Il. Mather was called upon ny the President to
represent the committee Of Ave, OF which he vas
chairman. and to report to the house the progress
Of Its work In resolutions and otherwise.
Mr.. MArHER said The FIRST thing for your COM
mittee TO ascertain the position OF the hank
financially and legally FOR II was to he considered
In the hands OF the United states and state Courts.
Everything was not ready TO give satisfactory
port at the last meeting. saturday was appointed.
and the severity or the weather tntArfere6.
Slips were then sent TO all the stockholders and
notices published TO have them attend tins Urceting.
He was in hopes the President OF the Bull's Head
Bank would be in attendance to make personal
statement, but he lound &c impractlcable The
object was TO reOrganiae and recapitaze the bsnk,
and he called on stockholders to relinquisD their
old shares until such time ~ the bank would be in
q position to recognize them and to buy new
shares for ltsrc stabllsament They had triumYh0d
over crisis last saturday In reference to tho
action OF the United States Court. He feared ak
first the court would declare the bankruptcy q
the bank, but che Judge postponed his decision for
q week. Renee the necessity OF Immediate action.
shares. Already shares to the amount OF S60.OOa
were purchased, and he would call on the depoai-
tors ana stockholders 70 sum up the rest.
The PRESIDENT then called on Mr. Cameron,
Treasurer OF the Committee. to give his views lie
said
l will speak very briefly. but TO che point. You
submitted plan OF reorganization, asking tho
half che amount OF necessary shares and am pre-
pared to offer over the other hall te part OF the
Alter the PRssiDENr commented on Mr.. Came
r0n's pointed and agreeable assertion he showed
Of interest to-day" in the stocks but that they
had full opportunity OF making 100 pennies 10 the
dollar aol. me assets were not gong 70 De wasted
bank out OF the hands OF the Courts and replace IL
again in the hands OF honest men.
The following resolutions were then submitted
Matner - ' $3.50 ~ '
Resolved. That we here reIterate acceptance and
meeting held here, March d. 1873, ne creation ana
Unanimously adopted
new Stock be made to John Is Williams, Esq, thS ss%e
be ps BY hs only
nd doing Be 70 s @
pay its creditors without further default aud have
working capital reserved.
Adopted unanimously.
Whereas at our meeting, held March 1870 the direc-
Fl sae said e sS &c are
time sscom%ssdsd Sy sxstins ss~%i,,ss
and John E. Williams ESQ., our "a IN, such sso
the bank and be Z ~
Head Bank collectively and indisc rimnatey, be ana
not in
Unanimously adopted.
After the reading OF the above resolutions by tho
Secretary and their unanimous adoption by the
Board the names OF those subscribers who had not
their old stocks were called out. The following
preamble and series Of agreements prepared by the
ceived a respectable number Of signatures:-
Head Bank held at Inc ashland House q this city 3
adopted and whereas we the subscribers seversy and
Of ns sS sns
nas the we es.ras and Sse
Of 4 SsaS BAL. n.1s "d
these presents do grant assign transfer and set 70
Frederick q, Mather, Adam Sc Cameron James M Fuller.
Pierson Hatsead and Robert Mook-the committee sp
% sa Sees he Humber sn
nection with names respectively to have and to
hold the unto them the said committee and to their
survivors in case any either Of them shall die
fuse act In trust and confidence tor the intent and
poses and 10 be returned and in said resoluOns
mentioned. ere followed the which prombsed
seT or after
day OF April-two years henceJ
The above contract received signatures OF sta ,ck-
holders and shareholders relinquishng their old
shares to the amount OF one hundred thou sand
dollars, and signatures for the purchase or new
shares for the reorganization OF the bank IT, the
amount OF $4,000 and above The greatest salts
factien appeared to prevail and every one 81 oken
to expressed their hope that the recapitalzin and
recognizing Of the Bulls Head Bank on n ,liablo
basis was certain.
The meeting adjourned about half-pas It five
O'Clock p NJ, to meet again on the call OF tn
mittee OF five, OF which notice will be given In the
nuh