The New York herald., 1877-02-11
DUNCAN, SHERMAN & co.

EXAMINATION OF WILLIAM BUTLER DUNCAN
AND WILLIAM WATTS SHERMAN.
Mr.. william Butler Duncan present yesterday
in the Registers Office in Bennett building, IN re-
sponse summons which bad been issued 10
compel his attendance He expressed his readiness to
be questioned concerning the failure Of the hrm OF
Duncan Sherman Co. Al the last examination MT
Duncan mad decIinco TO answer the question a. to
where former clerk Of tho Arm obtained funds TO
purchase claim which the clerk now holds against
tho assets OF the bankrupt Yesterday he was
not required 10 deviae from the position he at that
tine assumed The important part Of yesterdays pro-
ceedines was in relation TO the coupons Of the first
mortgage bonds OF the Mobile and Ohio Railroad Com.
pauy which wore purchased by Duncan, Sherman
Co. The examination OF Mr.. Duncan was AZ sollows:-
O. Did you or ySAr nrm purchase the coupons re-
ferred tos A. Wo did.
O. To what amounts A. About $4,000
O. Whore are these coupons! A. They given
10 Alexander Duncan and they are now In the hands
of a committee for the reorganization OF the Mobile
and Ohio Railroad
O. To whom DO they belong' A. Tho legal posses.
sion Is that committee: the coupons bcong to Alex
Counsel for tho creditors sad he wanted TO know
whether the firm Of Duncan, sherman Co did or dld
not ust before going into bankruptcy transfer nearly
81, 600 900 worth oi property 70 Alexander Duncan
Counsel concndcd that ibs 81 oo0 900 belonged TO the
IL went and he tryiDgto prove his point Opjec.
ton entered bur not decided The investigation then
o. In whose possession were the coupons on the
2eth July, 1892 A. In the possession OF Mr. Alexan
O. How did Duncan, Sherman h Co. par, with The
couponss A. BY personal delivery 70 Alexander Dun
O. Did Alexander Duncan pay anything tor the cou-
pons2 A. he had, prevously-not AT the t'me Of de-
livery
asiY e ph m before
livcrcd should say.
O. Can you tell how much paid' A. The entire
O. diu not ask tho entire cost; ! asked how much
money Mr. Alexander Duncan paid Tor them. and when
stated thai he had about $780, OO0 full details OF which
are on file tn tho Circuit Court OF the United states,
Tor the southern district oi Alabama
o. repeat the question. A. he provided he means
bout the time the coupons were purchased from
the original holders.
ties held BY Mr.. Alexander Duncan turncd over
since your failure TO Judge shipman'
Counsel Tor Mr. Duncan objected TO the question,
and II was Withdrawn.
q. AT tho time these coupons became due were they
a. an. s v os bp
but cannot answer Tor them.
O Were they presented at your banking houscf A.
o. What did your firm do with those presented! A.
That depends upon how they were presented.
can give to that question: A. merely desired TO
make your question more intelligeT II Inc coupons
were presented by any persons pawn was refused
@. Where were these coupons made payabloy A. In
,nc city OF Mobile and in the city Of Loadon.
Q. How happens II that they were presented WHOM
due at your bank?
This question was objected u and ovcrrued.
A. Because Duncan, sherman Co. purchased
them
O. Any other reason? A. None.
O. How did you purchase the coupons? A. We pur-
chased them for accouc' OF Alexander Duncan.
O. Did Alexander Duncan furnish your firm the
money TO purchase them. A. He did; every dollar
oil It,
Mr. william Watts Sherman, Of the members OF
tho late hrm Of Duncan, Sherman Co., was sworn,
and testified that he became member OF tho firm IN
1865; did not put IN dollar drew about $40 900 from
the frm at various times; duties check letters
and papers; ascertaned what the assets OF tho
firm were PRIOR 10 tho failure; don't know what tho
captal of tho firm when he became member.
Further testimony elected at this meeting and
the 10 Investigation adjourned until Tuesday next