, 1873-05-06
THE " REPUBLIC"
Important Proceedings Before
Judge Blolgett Yes
tordny.
A Motion TINT Tl,rcatcns tho Existence Of
all tho Suits NOW Ill Court.

APPOINT Of grcat intorest and importance camo
up, yesterday morning, in tho United 8tatca
District Court boforo Judge Blo1gott, In tho
euits brought by Mr. payaon against the Rtock-
holders Of tho Republic INSURANCE Company,
for assessments Oh Tho capital stock, On motion
to tho offoct that tho declaration waB not good,
1t boing founded on written instrument, and
copy Of tho written instrument not having been
attaclol to the declaration.
Mr. Tonnoy's defense WINS that the declarations
simply declared tllat tho stockholders took stock
In tile concern, and woro liable for 1t. 11o Ind
spout considerable timo on the declaration, anu
If lit WIS faulty 1t was 80 deliberately. They
raaod lad they - roliod led on tho Written instru-
mont; but, inHtoad Of that, they had olocsod to
rely on tho fact that tho Btocklolder was liable.
His Honor took the mattor undcr adviaemont.
Wo giyo that part Of tho declaration In reforonco
1t not having hitherto boon pubiishcl:
For tlet Whereas tho said Republic Insurance Com
pany, before beca1no bankrupt, corporation,
created by end existing under ai act q to General
tncosporato the nepnbllc 1nnsranco Company Of Gilt
cago," approved Feb. H. 1H65, aud tho several acts
hs S%s.s of
Of IS 900 0u0 divided Into sharca Of s00 oach, Which
stoe tho aano waa Issue issued ro9
to by the defondant and by each Of 1ts ntockhoerg
towtt That the real and personal property OF each
a loasea and liabilities Of tho Company 10 tho amount
Of tho stock subscribed hold by hin and not act-
ay paid ill.," And that In a Cases Of losaca oxcec-
Ing thu means Of tho corporation each sockholdsr
shall bo iIablo to tho amount Of unpaid stock held
by him." And TINT 20 ror cont Of The par val!,o
Of said stock nhou'd be paid tho doltYery OF tho
stock certificates and tho reang 80 ror cent thercot
should DO assessed only In Tho ovot Of tho 20 per cont
cash fund becoming impaired by losseB And yhercaB,
tho dofonlant heretofore, to-wtt on tho lat day OF
October A. D. 1871 at the diatrict aforesaid, became
and was and aince has been tho owner Of -.
sharon Of said stock upon tho terma md conditions
aforesaid, upon which 20 or cent Of the par va!uo
thereof and moro, had then been paid and WAS At
hta request entered ns aockholdcr to that amount
upon the boohR OF sail Company, by means OF which
said doondant hou and there becauo liable to pay to
said Company the remaining 80 per cent Of tho pas
value Of tho stock hold by him upon tho terms aud
conditions Aforesaid And being Liable, and In con-
Alteration thoreof, the sni defendant tho and thoro
undertook and promised to pay to said Company tho
remaining 30 per cont Of tho par value Of tho stock 80
hold By him, such part thereof might be duly
called for whenever thereafter tho sad 20 per cent caah
fund Of said Company should become impaired by
losscs and suoh loaaos should exceed its Of
mont, and call and assessment therefor should ba
| duly made.
Directly tho argument was ovor, number Of
attorneys mado similar motions, aud the court
| WIS occupied half an hour or 90 moroly noting
| tho members.