The New York herald., 1873-11-26

Application fn the United States Court
to Place 1t I'm Bankruptcy-An Injunc-
tion Issued and an ExGension of Time
Granted.
In the United States District Court, at Trenton,
yesterday. before Judge Nixon, Mr. Leon Albeit
made an application on behalf of the dep0stOrs OF
the Hoboken Bank for Savings to have that instI-
tuition adjudged bankrupt, and urged the following
reasons in support of the request That in April.
1s7s Klenen the secretary of the bank, distracted
over 100000 from its funds ana ab-
seconded; that the bank deposited with Fisk
h Hatch, of New York, the sum OF
s94,412. which firm since failed; that
the present deficiency as per statement OF Mr..
Warren, is $4,000; that the bank authorities were
trying TO reconcile matters in presumption OF get.
ting money from Fisk Hatch, of which there Is
no probability, as that firms liabilities amounted
to about $9,000,0o0; that the deposltors have no
confidence in the present management OF the
oank; that they cannot pay their depositors, and
that they had "frittered' away 5000 900, with
the greatest negligence and violation of law.
Under these circumstances Mr.. ALBEIT contended
that as he represented many of the depositors the
Court would be justified in granting his appica-
tion
Mr. Keasley appeared on behalf of the bank and
resisted the motion. In doing so he gave de.
institution to show that most OF It's assets were IN
vested in mortgages on real estate and other prop
erty in Hoboken, and to oreclose these mortgages
would create great distress in that city, which
would be done If the bank was thrown into bank
ruptcy; he therefore asked for an extension Of
tunity OF reconciling matters with the
house of Fisk 4 Hatch, and to allow them
a chance of getting help from those directly
interested In the matter. Counsel stated to the
court that the nOd,tS OpeTdndl practsed by klenen
when delrauding the bank was that when de-
post OF 800 would be made Klenen would give
credit for the full amount in the pass book and in
tp fha cd n
difference OF $50 in every such deposit, which sum
he pocketed.
allow an opportunity OF bringing about an arrange
ment and ordered that an injunction should issue,
restraining the trustees Of the bank from paying
out or otherwise issuing any of its funds
The total liabilities amount to Si42 62o o. includ-
cording to a statement issued by the bank author
tiles in pamphlet FORM dated October %, 1873, and
q. sNsS Sheppard president, the total liabilities
amounted to $1,000 272 and the assets to 2o65.
which leaves an excess otnabltles over the assets
amounting TO s4s,2o7. This sum, when added to
| the amount in the hands OF Fisk Hatch, will loot
up the total liabilities to the figures above given
| The schedule of assets is given as follows:-
Robosen Sao Land and Improvement Company
West noboken Improvement bonds issued by
west Hoocken school bonds 1000
West Ioboken Palisade avenue bonds. 1000
HMosoksn H. city bonds bonds. s.....,............. Log
Town Of Union bonds. ............. I5l
Cash Observation-Disclosures. i68
Loan account Observation-Disclosures. 81, %
Total Ol2 O6s
Schedule OF Liabilities to October TO- 1875
upon ledger and pass books sl277Oss
1873 e27o
D,ss..,.d Ts,s ,.as, July ISIS 'lES4Is fS4s
Total Si37l 534
Paid depostors since July l. 1873 .......... 23 26l
Amount due depositors sl,ogoN1