New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-05-31
CASE OF A DEAD CohpAyY's ASSETS.


SUITS GROWING OUT OF TIE SALE OF THE WILLS
FARGO COMPANY TO TIE HOLIDAY OVERLAND
COMPANY.
An appeal In the suit Of Ann E. Wilson
against Ashbel H. Barney and others was argued last
week before Judges Davis. Danels aud Lawrence III s
premc Court General Term. In 1866, under power III
their articles OF association the trustees oil the oid
Fargo Company closed up their business and sold their
good will aud name to the Holiday Overland Company
for 81 600 600 OF their stock. Some other assets
were LEFT for distribution. In 1870 John heCartle,
the holder Of 100 shares "a the old Company,
sued for uslversatOn OF the assets OF inc
Company. The suit dragged along until March, 1885,
when the referee awarded the plaintiff judgment against
the trustees, Of whom Asbbcl H. Barney was one for
OOO and for accounting for the asets not sod 10
the Company, and for receiver Of those assets
Meanwhile in September 1871, Ann E Wilson had be-
gun suit against the trustees OF the old Company, ana
this suit was referred Ia the referee found that what
the trustees had done rightly done, and on his de-
eision Ashbcl IT, Barney, in February 1873, was ar
pointed receiver of the unsod assets OF me oOniy
when Mr. Met arr,c came to his Judgment be was
met by the fact that there was receiver aeay al'
another receiver appointed in the Wilson suit: The mat
Ie!errd and the report OF the reisiee JIse
v DE Witt receiver. The judges chief grounds were
that Mr.. Me- ardle not lniorme. OF the "son s'
and tie Court which decided the Wilson suit was not III
formed the McCardle suit and that as Mr. BareN
dealings with the assets OF tne COMPANY W.
that he should represent the Court where u war
an interested party. The Judge held thnt uioush
the appointment O. MI BaIney was on W. IT,, - !,
formal and regular, st the circumstances aitc hahg
were suspicious that he strongly thought WIS cO
usve aud friendly avoid the Judgment III the heci'
The defendant Barney thercupoh appcn 20 1.e
Dnnohue i'm Supreme Court Cnaml,eTs TO eIiOn DE Wit
and reprcseu lativs from taxing any ACTON
in the matter. Judge Donohue. approVinS Juuee Ness
brOnks decision. denied this notion ana MI carney ap
peaIed. On appeal he claimed tnii oni Oh -ooo1
shares OF the old stock, 1888 share, had apptoEe
his appointment receiver. The plhntin III GLE
a. .
it, and 10 shares had not been heard Hou
The ouly opposition came from hcIaruies IOy
shares. The cOalesccDce with the Holiday OveIi"n'l
Couranv necessity nc the TINE III was n.de ne
fI,arey had IN bankruptcy Oh the O
Creek aud CrosSCut Railroad Company III lAe Dohus Oh
winch portion 0f tic undistiDhiei Assets 0! 'he
Company placed and. Slice tndt EOdu Wac soe az
held the notes n purchase aud these assets were To-
spun.ibe to purchasers OF that rot Tor lnuehhea
ton against suits arising rom an accident IN Hhc SOU
twenty peoDe were killed. which happened while he Vas
receiver further claimed tltt Judge " es DIooA
war mistaken surprising mat hcCaIule uu mo- hI"M
knew Of It. Judge Westbr0Ok was also asA,re 70 oe
wrong IN surprising that tie Court which decided the VIII
sou case did nt KNOW of the McCaTd.c suit.
ON tn hand Il argued LAt the OILY lhorIn'i
tion Mr. Mardle's counsel had OF the Wilson SUIT was
ulisinfUru Anon hat IL vas Practically aDind"'eu IL
Ms strange that tue McCarle complaint VIA uhshlu
from the ,pers file in the Wilson SUIT, IT. hs claimed
il was presents Court OIL tle appontn n VI mr.
EaI,y Mr. Barney had had cont oil OF these assets lor
many years during that time they had conIesseuiy
very largely, and II Was oltihiel NerS 49,,
Trspons 6ility Tor an accident that occurred whe ir
Barney was running the railroad named and IN which
the old Company had interest whatever Dnt ms III
yestIncut TINS did approve Mr. Barney ~ rreeVcr
IL In al these wears the had not been placed III
shape vi hin the man genlelt OF any ordinary o'S
man. IL time sdin: one was apluiItcd Wio ""I'o
brug them into such shape. However sinai ht' ~
Carle- interest he had lf TO nave II protected le
Court rrrDrv.d its decision n. g. MOaA appear ed Tor
AcCard-e o. l.. LOWRY loo n H. bAfhc!'