New-York tribune., 1874-12-12
LOCAL MISCELLANY.
JAMES Il. BANKER SETTLES WITH COMIC
DORE VANDERBILT.

1 OOhE fANDEnDlLI.
THE WITHDRAWAL OF THE SUIT FOR HALF MIL
LION EXPLAINED BY THE REGISTERS RECORDS
THE LIABILITIES OF MR.. BANKER ADJUSTED BY
REAL ESTATE CONvEYANCEs.
Another phase of the stock -jobbng quarrel of
James II. Banker and Commodore Vanderbilt was
developed Yesterday, being apparently the last
chapter in the history of their litigation. The late
Horace f. Clark, Augustus Schell, and James II.
Banker, were at one time three of the most
full stock spectators In Wall-st. During the Sum-
Of 1878 they accumulated about $1,000 shares Of
Lake Shore Horace f. Clark died and the main
support Of the combination lost The
panic came on and George Bird Grinnell &
Co.. their brokers'. were forced to suspend,
and ruin threatened all who were involved Messrs.
Banker. Schell. and Grinnell sought Commodore
Vanderbilt at Saratoga and induced him to help
them. Rumors of fraud and embezzlemcnt grew
out of the alleged misappropriation OF S22OO0OO in
bonds of the Lake Shore Company which had been
deposited with the Union Trust Company and sub
sequenty transferred to the custody of the brokers,
but Commodore Vanderbit's acceptance of tho
presidency set these stories at rest. Before assum-
ing any legal responsibility. Commodore Vanderbilt
required Mr.. Banker to make notes for S5OO,OOO to
his order, and then obliged him to deed over real
estate to these notes. After the arrangement
was made Commodore Vanderbilt went to work in
his own way to straghten out matters, but his
methods did not suit Mr.. Banker. who began suit
against Commodore Vanderbilt, the Lake Shore
Company, and all concerned, to recover his notes
and the property which secured them. Much Bit
terness manifested at the time, but 1t appears
that the counses of friends and other persons in
terested prevailed. and few days ago Mr. Banker
announced that his litigation with Commodore Van
derbilt had been withdrawn all their differences
had been amcably adj justed How this
reconciliation had been effected was not
generally known. and the subject freely
discussed in the financial circles in
which they mroved 1t was stated in Wall-st. yes
terday that certain papers in the Registers Office
would explain everything. Application there re-
suited in the discovery Of the documents given be-
low, which show that Mr. Banker mortgaged his
property to secure the delivery of 5000 shares Of
steck as specified in the clauses Of the deed. Fail
ing, as the deed says to make the delivery accord
ing to the terms of the original agreement he set
tied with Commodore Vanderbilt by conveying the
real estate.
Accompanying this was a quitclaim deed from
Henry Hilton to Commodore Vanderbilt for the
premises the northeast corner OF flIth-aVe. ana
Sixteenth-st., New-iOrk, aud No. II T1llary-st
BroOhlyn to carry out the terms of the agreement
The aforementioned piece of property Is occupied Dy
ex-Judge Hilton. 1t was given TO Mrs. Hilton sew
eral years ago by her brother James H. Banker, but
as he transfer mad never been recorded 1t lapsed
to the glver The nature of the tlanHactions, to adj
just which these instruments were executed, mas
not yet been made known, and 1t will be regarded
as singular that James Ii. Banker. who began suit
To recover notes and property va lued at SjJO,OOO
should settle the matter by making a complete
transfer in settlement of liability asgregatng
SiG0,OUO.