, 1876-05-17
= -
THE COURTS.
Sill Filed Against the officers Of
e: the Globe.
Charges Of Fraud In. the Manage
mont Of the Company.
The Rockford T. Rook Island Road
Before Judge Drummond.

The Rockford T. Rock Island Road
Before Judge Drummond.
Judge Farwall Decides TINT the. Scayon-
Z gcr Contract Is Worthless.
THE GLOBE,
CHARGES AuAINsT, IFS ofP1cgFA
a long and cfrcumstantIal bill, making vcry
serious allegations against tho officers Of tho
Globe Insurance Company, wss tiled yesterday
by Frank II. Follauahec, Receiver Of the Mcr-
camille INSURANCE Company, agatnst George F.
Harding, George K, Clarke, Sidney Z. Walker,
". A. Burns, John L. 'skelton tho G'obc 1n-
surance Company, its Receiver, r. E. Jonkins,
and the Fircmcn's Insurance Company Of CHI
cage. The complainant sets out that the Mcr-
canttle Insurance Company wua organized Feb.
15, 1855, and carried mn active business until
the fall OF 1875, when the managers Of tho
Company determined to closo buA!ncas and REIN
srrt theIs rfslcs On tho 9th Of tho present month
complainant wns appointed Receiver, with the
dual powers. For some years past tho 0lobc In
entnnce Company has becn engaged In pctivo bust.
neas here, aud represented that It was solvent and
possessed Of abundant hssots above tta liabilities.
IpAugust, 1874 George T. Clarke was Prceldcnt
they owned majority of tho stock Clarke being
embarrassed, and George F. Harding being we'll on
sud largely Interested In tho Company, the former
stepped down aud out and tue httor took bis place
rs President, for.tho purpose, hs Is claimed, Of
sa%asy ~ ae aoee eo%pany
publlahcd statement OF ils condition At tho op0n.
Ing OF, tho year, showing
s,' so2
Rm"sit sSss required 10 'iii' icin:ars .'e'
all outstanding riBk1,....,. Aa. o07- 267, ~
Dalnnce of asscts.. 941S, os7
about the samp time taea It's annual report for
1874 with the Auditor, showing
Tetsiiiabties, including rensufancc 9e
serve -..,....+.... ........t.-..........- aoofxAA
'Balanco Of assets. s351, 722
This showa a difference of about $50, 900 In the
kesets, tl,uGh both rcports were madb At the same
time. for which. complainant cannot account
terest'in ths Company; that It WI sound and rs
iacssss. sa y, .Ee companys ] etodit ' "'' ''s'''
: In November, 1876, tho managers OF the Mcrean:-
na I In nGstd ,H1, nS
,Fers about 70 rern from business, they could not
10 better than fcinsurs intho Globo They sccord-
Pay s Soo 81 mprs With sx mouth, 10 haso III i6ei1
.a6sd By two notes = Tor ths aggregate anm of s2s
.!hongh i has reeeiyed t6o money and
oiiey o to The Me1snntilo compsny Tor some raaso1.
l@e aso. ana tis q q EshTasry lsstit publI:hsd
Ton. !, 1875, showing a
hiabiiiies including u SSS
Balance on hand. .saea, Gas
A few days aitorwas1 It 1lei It's annual report
wit kN AuAftDe Rhn1rfnr tia cnui{f0n Al
.lB75, "a follows:
Gia6ilii:: inciuiins so
DaIanco Of nssets .S210 5l0
wonder 70 complainant, Ilo then COOS on To charge
that three months aftsE these reports wore made
insolyons. and the samo day that q failuIs was
annopncNsd N q = nsE coppany-the Fireman.s-w4s
a m e osa
Since tanHory last tho qlobchaa not done much
large part q which, 4 alleged, bas been ,sppfo-
priaeq by neEanE Walker, and Glas'a e tl,eli gym
eese ut ha has IN
ex.enslye nssets q she dssMnct Company IT, debts
ss saa y II VIZ 49,
complainant hns demanded Of Tho ofiieers Of tho
s nSfe to ss aSae Gas
claims 10 hold them by purchase, but complainant
h he 81 asR
complaipantfurther charges that both tho report.
or February. are falsc, and were intended to mis-.
lend; thata all tho dobts weto not shown, and thnt
sots were il facs hypot6oeated 70 seense e loans.
Harding claims TINT hc res!gued the Presidency In
August, lB75, but that II he did ho refused 70
Eya any notice Of such event. and has since BY va
1touH tralEa 2u1 exchanges managed to dispose Of
nearly ii, his stock, and received Instead and in
If q issa SassSs sS' ae
holders, Mr. Follansbco also claims that
s;ss .ss ss;ss,. y ss {!
ta1usion, and anase, Devised to onablo Hnrdihg,
Clarke. and Walker 70 gobtlc mp The property of
H. sDs sespsns ysoM, w Gppg + Of SS S1s eR s
dental elclk; and that no sec1stary q tho sau.o
iii eieik The Fitemen'a Insurance @ Company was
orgauzed on tho charter q tho cid Union lneur-
k ss w spy dobus dseabass q 60
te.iles hle stock, aid .Halkur Is alao largely In.
Fts Tno complainant then inaorts cheerful list Of
shirty-six moat .co.nprohonalvo intefrogntorics
SvhlGhA dnslres tha defendants to unawer nader
sn IN IL 'w n a seSS S nna s9s sEsr oAs mi
Clarke have. by their fraudulent acts, rendered
themselves personally LIABLE and asks that strict
Company shalt bc made TO return the potter and
MORTGAGES Of the Mercantile Inanranee Company
sha Rsy II o% Sa 5
ny or diapoalng Of anch securities.
TIE ROCKFORD ROAD.
osrKRDEHo's ACCOUNTS.
The motion to approve the Master's report on
the accounts Of Hoymann ostegberg, tho pur-