, 1874-11-25
THE COURTS.
Sale Of iho Assets Of The Merchants
Insurance Company.
4 Dividend Of Nearly 2 Per Cent
Expected.
Judgments and New Suits.

Judgments md New Suits.
TIE AEnonANra' INSURANCE. COMPANY.
An adjourned meeting for the purpose or ae-
olartng Auat dtvtland in tho bankrupt Nor
chhnta' insurance Company. and for se'hng
aomo AHnotH, waB hold yesterday hftofnoon III
tho United 6tates District Court-r room. Owing
to the tttue occupied, however, by tho Assignee
III selling tile desperate olaims, tho secondhand
clothing, AZ II might bo termed, Of tue Company,
aud to tho time occupied by lawyer named
aisson In objcctingt to ovorsthtng nothing furthor
was done than selling the Claims anu fehdi0g q
part OF Tho ABsignro's report
Probably almost any man thinks ho aan net ha
auotionour, but thta opinion Is ono OF tho many
fallaotoua heliota III Which tho aons Of mon arc
wont to indulge. But 1t any ono 1tnttora him.
self that amateur auotloneoring ia easy, Just les
him try It, For the hrBt fse nllnntea thoro Ia
Nttlo difficulty. 1t ia not impossible to ring tho
changes on tho word auArtor,' tho Bhibboleta
VI an experienced aNcaonoer, Until IL aounds as
though tho amateur woro calling ohiotons, but
when TINT oxorcIse Ia continued Tor an hour or
90 tho case Is different, and at last tho worda
como slow aud thick. az though torlsod up from
tho bottom Of tho boots. Jokes are nlways in
order Mt an suction sale, and hero is ono Of tho
rocks on which amateur auctioneors are apt to
bo wrecked. Tho joke nocd not necessarily bo
doep or now, but 1t must seem to DO spontaneous.
But It L. generally tho caHo that when a man
possessed Of only an ordinary amount Of i'm.
pudenco rises before score or moro OF real
cstale Rpeoulhtors and lawyers, and attempts to
entertain them by jokes. that thoro ia failuro.
III Inc caso under confederation, however. Dir.
W. r. Rollo proved 10 be q br1lLlant SUCCESS.
and his oGortB brought in goodly amount for
tho beDSht Of the creditors.
The cntottailmont was opened by an address
On tho part Of the Assignee. WHO stated in brief
tho benevolent object OF the gathering, though
he wisely eLstainnd from stating tho amount he
The first chose iu action offered for Bale was q
number OF unpaid premiums, amounting to
about e7.477, fano value, whlol we're sold for
$3.50. Some unpaid pseu.cm notes were then
taken for $40, their face value bong 87B8.43.
A lasger ish WIS next offered III tho sh4po Of
o claim agatnBt tho 8tate 1naurancs Company for
S7,4f7.G0. on which 40 per cent dividoud had
been PAID. h numbor Of auglesB woro found
who wanted to catch thus aqnatic lealdont, aud
after an animated discussion 1t WIS landed BY D.
N. Mitchell, Who rromieud 10 Pay therefor $500.
Tho public contidonce IN eo;tain New York
merchants was Indicated by the salo Of
some no,es amounting to s72o. which "nly
disposed OF for $40, MIR. Withercll
being the happy rurchaaer. a claim Tor s1,oou
aealnst The National Insurance Company waa
thou 1loated on tho markof. aud found q resting
placo With j. N. Withoroll for tho sum Of $3.50.
The nozt object Of attention was tho charter
Of tha old Paokora' and Provision Dealors' In
Bnrance Company. Tho Assignee explained that
tint Company was olganized under speoial
charter, with capital OF about 81. .0o0. 900 oar-
ri.d Oh business for tw1 years. and then wont
into liquidation after re'usarinG an !ts risks.
Board Of Directors waB, however, elected in
Juno, 1871, and, no others having. been
chosen, tlley aso Directors now, so That in
tho opinion OF sotne counsel who were present.
tho charter in still alive. Very llttlo doaro, how
oyer, was manifested on tho pait OF tho nudi-
enco to establish . now company, md after
some slow bidding the charter was sold for s105
10 George Armour.
mortgage for $1,000 With 81, 400 aecruea in
torest was noxt put up, but found few bidders.
The Register however, thought that It might
hplp to 11 the value OF tho properly TO refer to
the abstract Of title, and Alr. Rol!o stepped over
to his otlico to get It. Els example Was imi-
tated by number Of gentlemen VINO also step
pod out for aono unexplained purpose apparently
nlistaking tho place mud time for MI entro acto
III . thcntro. The abstracs showed that the
property had boon sold In 1871 for about s12 900,
but notwithstanding this encouragement the as
gsmbly n; soemea unanimous IN allow!ng 4. ".
THO Assignee then, having disposed OF ali tho
asscts in h.s aands proceeded to report Con-
siderable discussion WAS occaslouod on tho qnes-
ton Of allowing the feee ct Ct tue Asslgnoe.
objections -caue in TUCK and fast. Tic
Regisser suggested that q postpononent
might bo had to Allow committee OF tho
creditors ti,ne to examine the vouchers. This,
minded individual; who remarked that the
creditors wanted to get their winter coal, and
could not watt longer. The forco Of tho romark
was folt, aud tie subject for the moment, at
The Assig6ee then went on to explain that, II
auy delay was caused, ho 1alt that lo should
have 10 aak oxtra commission. and that he Ind
not charged all tLst TINT ho ua was allowed ey law
ADVICE that he should keep tho whole pilo, which
was declinod. :Anothor creditor thereupou,
mindful .of oaare's promise. Inquired II Mr..
Roilo bad receiyoa any intercat gu his dopoaits
that ho was Obliged to put the money iu certain
banks designated by tho Judge. and that no ia-
forest waa paid.
A vote was taken on tho question Of admitting
affirmative, MIR. 8iaBon being tho 6uly ono who
objected. Some discussion followed as to tho
proper method of pnssing on the items, aud the
ineotlng waB finally adjourned until Friday after
noon at p. H., wi,on tho reAding OF tho report
viii bo closed. Tho Assignee reported that bis
aales amounted yesterday afternoon to e0,3a1,
and that, including this, he bad about 100000
On hand. A large number Of claims had. how
over, within tho past few hours been proved up,
Of ~ per cons could bo declared, Tue precise
amount, howovor, canuot ba cestalnod until
these last claims are tockonea in aud tho amount
of Haloa collected.
:. William II. Coleh0ur tiod bill against tlo
Ees Silicon Steel Company OF Iomo. N. T.,
nul Egbert Gulick, Btatipg that, on tho 29th Of
May. 1873, ho sold 10 tho Htecl Company nioce
Of ianl, 2,3iB by ADS foet, in tho s.. ". II OF
Sec. g. m If hpI ntrrfrys khnk tim Rn1A VIVA Drn-