The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-01-19
CAPTAIN GRAHAMS LOAN.
NOW MEYER & sTUCKEN BECAME
STEAMSHIP OWNERS.
Tho Interrupted sale at Havana-A Timely
Fxecution-An Equally Timely Assignment
still Trying to Recover his Property.

Tho Interrupted Sale at uavnnn-A Timely
Fxecution-An Equally Timely As-ianment
still Trying to Recover his Properly.
In 1855, Capt John Graham, then owner
OF the steamships Ocean Bird and st. Lawrence,
and one-tbird owner OF the United States, de-
cded to sell out, In whole or part, to the projec-
tors OF line OF ocean service between Vera
Cruz, Havana, and Cadz. He had his ships
overhauled. The bills proving unexpectedly
heavy, he obtained a loan Of 100000 from the
banking house Of Meyer & Stucken, for which
he was to pay the modest bonus OF $4,000 to
the house and 5000 to the person who effected
the loan.
II was a four months loan. The loan was se-
cured by bills OF sale OF the vessels, given TO
Meyer & Stucken, and they 10 return gave by
their attorney to Mr.. Polon, as Capt. Grabam's
representative. an agreement by which Capt.
Graham wns to have the right to repurchnse the
vessels at the expiration OF that time, upon pay
ment Of the tlS50D and whatever, expenses
mig have been incurred by Meyer & Stucken
on account ot the vessels, They did not pay
over the tl0OO00 but acted as Capt. Graham's
bankers, the vessels to remoin during the four
months In his hands. In order that he might
carry out his plan Of selling them. The entire
M anagement seems, Oh its face. to have been an
attempt to put In the form of legitimate trans
sction, what was really loan al usurious in
Can't CIR h,m went to Havina. and there sold
the ocean Bird When he wished TO come homo
on the st. LOwronce, which he had not been
able 20 soil, and to bring with him the spanish
gentleman who had bought the can Blr'i, the
Havana agents OF Never Stucken, acting Dy
instructions, prevented the ~. Lawrence from
leaving that port. Meyer q stucken claimed
thlt the bills Of sale gdvo them such rights VI
ownership that they could prevent his selling
the vessels. except under such conditions IS
they might see 1T to prescribe. On his retur y
| they presented claims aagreVating over $l530o0
| for part OF whicn there were no vouchers to
| shOw-and demanded "A cash settlement. Un-
| less the money was forthcoming they would not
| permit ths Transaction with the spanish gentle
| III an to he completed.
In various ways thev kept the Captains hands
tied until the expiration OF tho four months
grace when they sold the Ocean Ihrd e. the
| SpaIinrus. Dv means OF a small execution op-
| pOttuuely pliced upon her day or two before
| they we're enabled to put the purchasers 10 pos-
session. MtsstS. Never Stucken chained tnat
the agreement Tor repurchuse had been forfeited,
! although Cut Gtantm had rendered them he
/ amount to which lie admit ted himself Indebted
t. them sliO.sU. By virtue u The bill. II sale
| giVci them as security, tney claimed IA Il they
| md become propretors II the Ocean Bird,
valued bv cou peteut parties Lt s2NOO), the
Unitrd Stltes. worth $4,000, and lpi Ora
hams interest in the 81. l. wrence, worth $50 o.
dress AGAINST StICk.n IN the equity branch OF
the United states Court. Meyer was then in
Europe. lie Obtatn.d a verdict OF $SlO.I9. %.
But in the mean time. Stucken had left the
country. SO far as Is known, he has not been
in 1858 Meyer havin. come back to New York,
| that gentleman was mlde defendant IN a simi.
lar sui. 9nd jldsmeni Tor ST. was oo,a'nsd
against him wherenuon he made an assign
ment for tue benefit Of Lis creditors, among
MuOm were included Ms own VIE ana Nr-.
/ Stuchen. There were no apparent assets for the
satisfaction Of the Judgment At that time
| Juuke Nelson decided not only that pr. era
| ham was entitled TO the award OF the jury. but
that he was still the actual owner Of the vessels
| and had the right TO take possession OF them
| wherever he could ind them. Mr. Meyer was
| put under bonds not to leave the State, and
| Capt. Gr iham waited patiently for a chauee to
| get even.
In 1860 the Ocean Bird returned here for the
nrst time. New boilers were wanted. Capt.
Graham got possession OF her, but was ousted,
a. he CLAIMS, by frIuduleat order Of court.
and before he could OBTAIN legal aid the vessel
had got away. Finally he coD-entcd to COM
promise with Meyer Dy which he was to receive.
In tI-ftction Of bis Judgment, $4,000 Ia
money, $1,000 In good endorsed notes and
IS sOj ia Meyers own bIud, PAYABLE In ten
year. with good endorsement thereon. 4 X ing
advantage OF his nec. .s-itIcs, Meyer aud lis at
torueN turcci ~. Graham u sign release In
10y Geltge Law and Horace Greeley he cJn-
sentrd TO sign IT,
when he gave Tits release he received the
5000. hut the notes dul bond were mover sat IS
factutiy endorsed. lie was compelled to accent
"A heavy discount ON tho tOrmor from Meyer 3
attorney, Mr.. SIutHmlid. The bond MS never
yet been satisfied, altaOu-h {l2OJJ has been
offered for ~ by Never.
lately, supulemcuth proceedings have devel-
opei the faci that Never u living most expen-
svely and iuxurl ously, and there Is reason TO
believe thst he has properiy which can be
re ched. Hence N action has been brought
against him before Judge Ltwfence IN the suDo-
nor Court. IL Wlll probably Use up several dANs.
Inc plaintiff Is represented nv Mess :. Knox
Nash. and Gib-on; the defendant by Messrs
StOughtOn, SOutumaSd. ChoAte, aud Roelker.