, 1873-01-22
A Discrepancy Of Nearly Ealf a
.~ Million Alleged,
The Catholic Bishop Cited
Into Court.
Town Of Maine Enjotncd from
Collecting Town Tax.

tho Court to allow. Yesterday nnawefb In reply
to tho petition were fled Tho first hero givon
is TINT which COCA most fully into the matter. It.
10 that of N1r. ohappoll, and makos vastly diff
faront showing to that Of the Assigned. Instoa1
of tho stockholders being called upon to pay An
assessment Of 90 por cent, ho shows
that ut tho outside, 20 por oont would DO
required. It is moro mattor. Of aocounsanoy,
but w1cro more mattor OF acoountancy Involves
difference Of nearly hn1f million Of money, II
becomoa timo to 20 slowly. Tho figures given
by the respondent hnyo yet to bo supported ty
proof, and his allegations aro 90 far nero atato-
monts, which may. ultimately bo found to have
no moro weight than simple hoaraay. Whom 1t
is considcrcd how domonstrable q fact it is that
figures cannot 1io how wonderful do these con-
trnats apponr, tho figures boing always tho aamc,
and tho difference lying in the different way In
which persons look at thoml
Mr. Robert Chappoll doniee that the bankrupt
Company WIS organized uudor IN act entitled
:" an act to incorporate the Republic insurance
Company Of Chicago, approved Feb. Is, A. D.
1866, and m act amondatory thereof, approved
March 25, A. D. 1862" Ho admits that the said
act OF 1865 provides that tho capital atoos OF tho
Company thoroin nnmed and thoreby chartered
ehall be ono million, with powor to incroaao to
flvo millions, such stock being divided into
shares Of 800 each, which shall be assignable
and held Us personal property; also, that the
am endatory act Of 1860 provides that tho Dlreo-
tors may increase tho capital stock. Ho denies,
Company was regularly orgenized md COM
menood doing business Nov. .29, A: ?.
business till Oct 9, 1871 and that oaoh Btook-
in increasing the capital and making an aasesa-
mont Of $40 per share, as we'll rs TINT the Com
pany suspended business on tho 9th Of October,
ls71, although 1t coaacd to accept insurancea
thereafter, He afirma, from information and
6,10o, denying TINT only s954,080 thereof
@ 90 paid d @ s5kssso md, besidss that TIE
Company had surplus, attor deducting all
admits that no notes or othor security had been
received for the pnymontof thounpaid capital, and
that, so far as he knows, such unpaid capital,
md the funds on hand, constituted the only re-
sources 3of the bankrupt With which 70 pay
losses; but denies that on the 9th Of October,
1871, the casl funds and RESOURCES available for
the payment Of Losses did not exceed 9956, 900;
and atlirms that On the contrary such means and
s1,264, 900. HedenioH that tho 1osses Of tho Conn
pany In the groat fire exceeded 43, ESQ, 900, and
afIlrms that It did not erceod 1885, 1000; denios
that there yet remains to be paid OF such losses
does Pot now romaIn liability for mora than
5000: Ho further states his belief TINT,
before bankruptcy and nfter the tlro, tho
by onsotting. amounts due on Losses against
amounts receivable on notes, which settlement
no creditors arc now soeking to- dinturb, tlleao
bankruptcy was filed, and to that extont tho
affairs Of the company being Aged before tho
said Assignee WIS appointed. He believes tho
sum total given by tho Assignee rs impossible to
collect from stockholders BY present assessment
tho Assignee himself. He denies that a cali Of
60 per cent is necessary to pay tho Losses now
unpaid. Taking the capital stock Mt "a, ,77o, 400,
tho amount stated In tho petition md doducting
assesament Of 20 per cont on said capital
stock, he attirms, would amount to more
than the. unpaid losAes,: ,(s8o55 1850; He
statos further that he IL advised TINT the
last, that tho sum Of 81, sos, ,bs0. Al had boen
paid up On tho stock Bince tho fire, making,
with tho capital stock admitted to have been
paid up, an actual cash receipt Of &2 400, ,210.41,
which amount, deducted from the total loss hy
fire, as stated by the Assignee to tho stookhold-
ors, as tho not totalloss up to !" Oct. T. Inst" by
fro in Chicago and elsewhere, to wit, o., ,8Sl,-'
912.2i, would leave now to DO raised only the
au1n Of e521, 80, instead OF $3.50, 900 and
over as stated in said petition. Lastly, he
wholly denies the right, or power, or duty Of
the Assignee to collect, BY assessment. any SUM
to oqualiEe the payments made BY stoctholders
account Of, any amounts paid by him prior to
his appointment as Assignee; and he claims,
and insists, that said stock cannot, in any evcnt
be assessed for an amount beyond that which
would be necessary to cover actual losaes by fire.
A number Of other answers were filed, which
it is not necessary to 60 through In detail, tho
above covering al the now faota. Tho following,
ss sd ' so1sa Rssss rasr15!nS c1z SSer things
TINT ho had entored into Oh undertaking with
tho Company, at the timo Of subscribing for
stock, that no further assessments were to bo
mado upon his certificate.
thnt Bhe never know TINT any stock stood in her
name.
Joshua Wagenseller, among other things. an
sworod that he had noTer subscribed for any
Peter Woyhriclk, among other things, answered
that ho had no knowledge of any stock standing
in his name.
il. q. Ruport, among other things, answered
that be had never subscribed Tor any stock in
the oATno11o n1suor INVITED INTO COURT,
Mako trust deed In haste, md repent at
leisuroi tho experience, precisely, Of Francis
repentB him OF tho deeds OF tho youthful days Of
1851, when, haunted by fears. TOR tho security OF
bis little property, ho determined to convoy It to
Tho conditions Of tho trust woro, thnt John, the
Trustee, with tho concurrence Of Francls md
wife, might sell tho property during the lifo-
tlmo OF tllo parties, for tho benefit Of Ellen,
or, after tho death OF Fraueis, with tho con-
Michigan died, leaving liev.. Thomas Foley
Catholic Bishop, OF Chicago his executor. mud
having appointed no one 70 supply the p1aee. tho
Bishop would step into 1t rs executor. Under
cidcd that they do not wish to be bothered with
tho trouble Of aetting matters to rights by 1lnd-
Ing another Trustee; or to bo exposed to
trouble through any doubt ns to tho legality Of
orwieo. and therefore pray tho Court to relieve
them by reyorting tho property back to the,n,
They enforce tho prayer by saying TINT thoy arc
old and chdcHs, and alono on q little farm, and
wish to ond thoir days in poaco, without furthor
complications or trust lcedp.
BANKRUPTCY IATTENB.
Leopold nohrback, dry goods dealer, State
street, IN petition filed for his bankruptcy, by