The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-07-25
rpEDlTORS NOT SATISFIED.
arr mr. THE MYSTERIES or TINE JAY
so' cooKE ESTATE SETTLEMENT
philadelphia Mcetins openiy Conducted
the Interest OF the Trustee and Em-
",.,ee. some Statements Hiddicd- Some
n,.tIon. that Require Prompt Answers

70 TIFF EDITOR OF HE NNN i'Hf i lltNc
,.i,,sn,e a book Of 29i pages. entitled " In the
v.,,,r %, jay Cooke & Co.. Bnnkrupts -" Re-
the Trustee in Bankruptcy. &c. &C." On
r,vonlny. July % there was held meeting
',he creditors " the above named firm Mt tho
o,ares Bank battling IN Philadelphia. About
Hundred ~ the ng-waiting creditors were
,.,e by invitation Of tn trustee and committee
The bankrupt estate. in which invitation it
"a. said:
....o.n ,,,, .nnr,i, in rrint d statement Of the
..,,,. .r,a,.r.a.rro, .ue, thc ia-, r,rort and
,ph.~f'm.n, 10 ue ir'p''N 'n" '','' ." inc ''nk,
r'r 'n ,,'.., io.',6,, ,i, i, .,,,cn,ot w, .,,rn
fs,u,.iifIms. Specifying the cause of it, hcing
,,r,anlH. a.'4 what iit' or claims are yet undeer
ra, ana 'i'u "''' ', '.'.''.' W. ' nu.,' wien
guy i. ..,n. %, The commune IN. commit,
Nv ein having audited. adjusted. and settled the &C.
anisH 'hc trustee l'''' w. mah' 81, 'r''r A. 10
huienl 81, .r,, W.. ,n,, .i,,N '.,s',''r
up,,..,o,.alny the condition of the estate
,ayc-Dd'rc'n De heard 10y the committee who may
ta't a' ''-- ' '' " ''N' u, ''' '"',' o' '' W."
fW. ..,,,e
Tleraantt, will contuuc In session from day To day
uuihe siNl dN OF Jay. \ is5-ior above purposes,
r,' '"' '''' W. ''''' ''''''0 NV ''''' NV '"'
I'
The CT rs '''s'"""'s ,NI''"" 'n"' ''p
fep'u W' u u9''' N'"'' Su'N s"''S'".'"'S
condition oil .h' 'uSih'ss oi INC es'a''' iH'y
as0 supposed that the trustee ana committee
,.r. rr.rared 10 declare a dividend. and.
YER W M, o.,'',.,'i 90, a' ,,. a. ','''
7hANNs "u''''"' ""uS,'N' WI" s'"'0" wv d"
STUNTS ~ the trustee close UP the concern II
W., Nt.,..., inf,rrel ,hut tho comm t,nn 10
"" -, o..
sired o. cont Win th' creditors anu after
kerini. their views. cooperate with them In the
80 e,.,luy ir,.ir,. fla, ,fr,ira g.,
W.
o. end
How greatly the creditors were disappointed
- d. .,,...i,.t ,,t.u 4, o,,,,,,rs ,l.t ,h,v
h' '' ''"'. w" " "'l '''' NY
, IT, i,''
A..,,,i,,o, holm, ~, 4. ,,,,r,,,,i.o,in ,,,,,
md the noise Of the street being 80 tumultuous
tr',.n ,b, s,.o,p.r-, ,'i.... C.nr,.t',
tgt ie,rii, tl,, ,,,.r.,or ii,b ,,r,,.,ii..1 IL,
Tho early unrt of tho meeting. II very soon
- -, ,t',. a.. -. -, -, A..
Ealing together II tho throuE was not TO consult
r,b nom Inn, IN di.,ru,,tn thc ",rin,,1 ro.
mort" Ms IN tho condition. II tho estate and
a., NV
.ep,eI by the trustee. Asthe talking could he
heard only hy a few in the front seats and rs
m'''" "i'e' u'o''o"' "'"u' "',' se'""ou ~
M07e On ule moor were ignored 10y me presli-
lng officer mot a single vote being taken. II
became evidentthatthcre was something behind
- MI
me scenes lh"queSton was asked Mr. LOWS.
The trustee. whether any motion passed by tho
meeting would effect the action OF the COM
nttcc.
Inc answer came through ono ~ the nttor
n'ys that. while the members Of the committee
and the trustee would be pleasedtO have an OK
PRESTON ~" views Of the gentlemen present.
Sill they could have no direct weight upon the
hnal "a tlon OF me board. lie thought the better
way would be Tor them 10 pass into the commit
tae room. and IN ones or twOs approve or dis
aIJrgNH ne actions 9irondy taken.
Just. Just a, this tine il was suggested that tho
trustee might point way out of the Il lnicultles.
beng all ready Tor the oppnrtune moment. Mr..
Lewls stepped forward and said:
Wv idea u that the whole Of the assets. leaving ont
two. ti,c. .uoh A. oeonil. Lake chanplain a. MAT
tlihe lfotrv ,nouh be- carefully valued hy df rcnt
IN I'm s ,sp.s ny men is,nar WIN
t,ssr a.cerainpd and lien scrp oSldend s Of n,
imonui issued o the creditors Zach would yet a
certain leres n'a-e IN erin ami these .scurite. uentobe
ss - essw soS ss'" o S n' sS saJ Sr.d.r
nins ,I.s AMI t4u. manage It hm~ci
tcah value 20 this scrip Whatever was not .Ol nj the
nnrau ni 'ai tirn-day. could be- 81 n.y. 10y auction
Hai M 're ~ ' ,s
IN whi,h j, IAN be- lone 1t would take a lifetime to ."l
All YEAR, FOR The rnrosS .eer,r Az. 10 c" ~s =, INV
Considering the wording of tho circular notice
genera i.-',.in' an1 nassn',e ' ~ resciniI"ns
De intro luetonof +" my ilca" aud the sng-
;Qmmiii"" room 90 express their views. IL be-
comes i.uIu that tho scrip plan was carefully
matur"d hy the committee and that no other
enui-" 1871 he even consid red by them. much
"s- acted uiNn. II Is evidently expected that
y trtl'" personal interviews a majority ~
no" iii'r-i. 'un be talked into an approval
nm" plan. Here. then. il tn. trap.
lnasmu'h n the trustee SAYS he courts tho
FULLEST "a lminatiou and criticism Of the report.
l"i n- r"NieW IT, We chcerluly admit that tho
trust i'- had heavy task to perform and We
meut oi that which is worthy But in scanning
his reIor We see SO much that looks like rob
DRY that W. cannot pass Il 10y silently.
he rel pri Of the trustee sets ont with the
Iai mont that all the claims against the estate
iol which securities. were held 10y the creditors
pay" i""n settled, the payments on this score.
Including interest AMI dividends Acrruing be-
Nren september IL. 1873. and the dates OF set
aemeut, being 81 SOL OO7 43. In addition fur
anr sums have been paid t. other secured cred
Al ga son II
Iurrdin. the Ave ner cent. dividend 81 Jenu.
hry lsij the trustee has paid 10 creditors n
.oial If f2S42ll1 o. ON July last he had "A
cash balance Of S2Sdsl22S. Tho report closes
Will ill- following table:
Ann! 49,. -, 49, , ,,-, ,
,t ~ t t1 "Nsu h'l "Ne" Hhu - 60 .., n.
a., . 10 .'N ''Hl' eAn " lNll 'F'o'o,oo< 10
ni.,I H. -. j." ' KY 49,, l " ltspN,ai III
H. amount Of Claims pro,ci hu, not AL '''i'' ''
'.'''''''''''''' .'.''''''''''''-' SIZE 10
MAKING the total claims. MAY l. is7s - ss1tOe32 80
Irir,lo1 IN d., %, ,o,,o. 81 ,ho -, L. =
val ntn,,',t ~ Ill r19-'. ii w Al ~ -. 20 "
es. ~ = ,tt~ -" ~ = ,'4i, ''H' ~