The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-27
THE DURYEE BANKRUPTCY.

decision given IN tho United States District
Court yesterday IN tho matter oil Abram Duryee,
bankrupt MT. Duryee owned two pieces OF real
In this cityone Cherry and the other
Thirty eighth street. near Fifth avenue. On tho
lrst there was a frat marIgage, held by tho Bowory
Savings Bank, OF $4,000, aud second mortgage, to
the Chatham National Bank, OF $500. Tho assignee
ioss the nrst mortgage, but foreclosure
proceeding instituted By the Bowery Savings Bank
las been enforced the assignee contests the
Ieoond mortgage made violation OF the national
banking laws The mortgage is valued at about
k16 900. The ThrtysghIn street properly 10 subject
10 ST. 1855 taxes. judgment Tor $780, first mortgage
10 The Seamcn's savings Bank Tor IS, $780, second
mortgage 10 j. ). Young tor $53S0. neither OF which
Is contested, ana third mortgage to the Chatham
National Bank for $4,000 and interest," which Is con-
sssd by the assignee on tho grounds ABOVE stated.
Young and the Chatham National Bank have begun
N aolion oil foreclosure In the State Courts The
hgnee moves for leave TO sell the Cherry street
property al public auction. and the bowery and
Young they move 10 dissolve tho injunction restrain
ing their foreclosure proceedings. the Bowcry Bank
also moves 10 modify tho Injunction SO as 10
permit them NJ least 10 proceed TO the entry
vi judgment Judge Choato denies tho motion
% dissolve the injunction, and also tho motion
pf the Bowcry Bank 10 modify. Ho also denies Tho
notion OF the assignee Tor leave to SELL the ground
hat In present state Of the real estate market
rood reason should DO shown Tor immediate sale,
ind that Tor aught that appears may BIO advantage.
,usly rented or disposed OF at private sale without
the risk Of loss auction sale the pres
.nt time. Tho Jaogc further suggests that ques
ton OF tho validity OF the mortgage held by tho Chat
ham National Bank Is one mat the assignee should DO
permitted TO tgalc in the federal Court as undoing
The powers OF national banks 10 mako loans
gugcs OF TINS character Messrs Follows lvins ap.
pear Tor the assignee.
A BIG RING CLAIM DEFEATED.
The trial Of the SUIT OF William Nelson, Jr. against
he city, begun on the Gath inst before Judge Van
Drunt IN tho Supreme Court. Circuit, was con
auded yesterday BY a verdict IN favor of ,ho city
ths tho second trial oil tho action, tho complaint
having boon dismissed the first trial upon
grounds, which reversed some three years ago.
Since tina, time the Counsel to tho Corporation has
been constantly endeavoripg 10 bring tho case to
,rial upon tho merits, but until without success
Tho action was brought to s54o 900 and some
$50. 900 interest for alleged balance due . con-
tract for furnishing vnrined Stone ware sewer
pipe. Tho contract mado In April 1871, when
tweod was Commissioner OF Public Works and The
,ty alleges II was entered into between Tweed and
he plaintiff with fraudulent intcnt 10 mako the CITY
my Tor the pipc than II worth, that this
raus was 70 20 accomplished . BY system Of IN;
upe much moro than the market rate and for other
Azes much loss. Tho specifications az advertised
called tor large quantities Of tho pipe Tor which he
bid low small quantities OF the pipe which
bid nigh. In consequence hts bid, wnen looted up,
appeared to DO The lowest No sooner however, was
the contract awarded than tho specincaiions were
changed. Large quantities Of tho nigh-priccd
~ ppv all of tho low priced varieties. By this
means The city alleges that Nelson petted
$4,000 by the contract, sum which no was 90 share
win Tweed. During his examination last sum mer
before the Aidermanic committee Tweed himself ac-
knowcdgcd that no did have Just such a corrupt
OF this that he changed Tho specifications
ancr the award OF the contract and that Nelson PAD
The Iary after an absence OF about an hour brourh
In n verdict tor tho docndants Messrs. Henry l..
CLINTON and James X. Hl appeared Tor tho pla,ntn;
William q. Whnncy, Counsel TO the Corporation, and
X. Henry Lacondc, mis- assistant, Tor The city.