New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-06-03
IN THE DISTRICT COURT OF THE
UNITED STATES.
FOR TIE DISTRICT OF LOUISIANA.
N THE MATTER OF THE AMERICAN MUTUAL
Insurance Company, bankiup..
In Eankrrptcy-No. llGG.

FTNO THE HONORABLE THE JUDGE OF THE
l. Circuit Court for the District of Louisiana
sitting as district Judge in bankrup,cy.-rhe pc
tlton OF Allan EustIs and d. Urban, assgnees OF
the above entitled estate, with respect represent
that in the month of October 1872 certain persons
in the city of New Orleans forme cd themselves in to
a corporation in accordance with the laws of the
State of Louisiana for the purpose of carrying on
the insurance business, their corporate name being
the American Mutual Insurance AssOcai ion of Ne W
Orleans, the capital stock being fixed at $500 000
which was afterward reduced TO $3.50 600, the par
value OF each share being Sloo That by the char
ter OF tald company each stOckholder was to paw
five per cent On each share in cash, AID for the
balance of his subscription to furnish his note,
payable on the thirty first OF October 1877, ca Is
on stock to be made whenever the necessities of
the association required it, that at different times
two assessments were made upon the stOckhOld
ers of five per cent on each share, portion of
which has been collected and portion of which
remains uncollected; that said company owes
debts on policies Of insurance for loss and damage
by nre, also TO return Uhearned premiums and
salaries of employees, and that there assets
whatever to pay the liabilities Of said bankrupt
the costs of liquidation except the unpaid balance
due by the that during the last eight
months the affairs of the company have been in
the hands Of liquidators and receiver and owing
to said delay 1t is impossible TO determine what
proportion of said unpaid balance is available;
that the availability of the assets being daily
diminished by the insolvency of the stockholders;
that said stockholders were duly notified of the
assessments made upon their stocks under the
charter.
That in order to paw the debts of said COMPANY
and costs OF lquicatlon 1t is necessary that
assessment for the unpaid balance OF the stock
should be made
Wherefore, the premises considered, and the
books and charter OF said tankIust being tfered
as proof petitioners pray that an order be granted
by your honor assessing the payment in full OF the
outstanding aid unpaid balance due by the stock
holders OF the American Mutual Insurance Associa.
ton of New orleans, at such time as this hOnora
BILE court may Tx, in order to place the assignees
IN funds 10 liquidate and paw the debts of said
bankrupt, and Tor all further orders and general
IeIiet.
J. 3. ECSTIS i II. L. LAZARUS
Attorneys for Petitioners.
Order-Lett the prayer of this petition be granted,
and let the stockholders of the American Mutual
Insurance Company be ordered to pay the amount
due on their stock in fall within thirty days from
this day.
Signed May 81, 1874
W. B. WOODS, Circuit Judge,
Making this order during q vacancy in the
office OF United States district judge for the
district Of louisiana
Clerks Office. New Orleans, May 81 1875.
true copy:
]. A. CHARBosNB1, Deputy Clerk.
Dy30 ice 20