, 1879-02-04

uit ,,p.,n It ly Judge I'ipIgctt anil himself. rs
well NJ by sDrIIc members of the Mr with WHOM
he taik,4l when tn" matter VII. before the Bar
Association. ,fhc provision a. TO returning ~"
declared. taken in connecticut with thr j0ifFtA
uslr.llo.f, llr constrnetl 20 mean all those e,
fcrrc,l to him tl,trlnE The year lie t'i"tiEht
tl,r nnswrr woutd he very. satl:sa;so!yt 'l1'c
mi o1te-alf Of tie cuses wht,'h had ultimately
paid dividends a been reached at the tifnc ho
snade Ills report. Tie law provided substaE-
Tally ,l,nt no dividend should bc male Tor tbrc9
mnnths, nn'l that An cafate should he ~ollnu
up ht ltc cnii Of ak months. I! rosslhlc. nc
r;.es rnfcrrcd IL in ibc xection i.n construed to
he lie rascs referred Il, him t!urfn. The year.,
o,irs,.o',s tsn ilrst difficulty cainc up, on III"
,M1rtI, question: ".tnnn,tnt of dividends li'erc-
t." II ttl nns acrin to him that o',Vfcss waiit.
t,l IL know 1hr a'Hnint 0! 'iividef;dt therein:
syIttcntls IN r;ses IN whtch dividends wcrH tlt-
cIMrr.I. lie .puII hive ni'letl u hts rc1t'rt Tho
amount Of tivcntas '!crtarcsl m stl tNS' al ING
amount t'f as+cts IN tho ,r'sca ~ *aN,UW, an'l
m;,rn tlr risss wire TcaslIct!. It seemed 10 MIN
that Congress wuutd he very likely IT, nc fi'ised
by seeing IN h. rriN.ft large n1nn,lnt vi nssGts
a'" very small ntnouut u dsEiucnas. an'' M iuc
lc of as.y use whatever. Coming down to the
"nonI!cr Ut cases In which discharge vas
::ratted," that was ,c frat question from whlfli
liz word "tllcrein " was nlnsntttcj. Congreas
knew nothing. about how many cases had been
rrfcrret 10 him tn the last cght years, from
Th!s'' dise.arEe' were EranteI iro.n rom
a!l hi. scports that hG construed this
question 10 tmsun 'ahcrc!n." Counting 10 the
next question In connection Will, tl!: "ninthif'
nf 1he statute, requiring report q all leet ~
eact, class Ut at,yc stated. - he construed
T. Il, ,e!n tlic referred uurInG tile current
yras. Whether lie was right or wrong be did
mt un'iertakc TO say: bat tiLAt was thu theory
,in1 ftnItt
question 10 Judge Blodgct,, 4Iul told him y
waa matter ef no consequence u l!tn what
tl,c rcport was,-I. would mol Interfere with tho
rrce!p;, Vi n" ntll.c In my way; lie income
innc!, or little, 70 tlat there could he nu t,ssi-
bic disposition tu snakc wru1lg abatement,
ami he rnltavorcd II MAKE n truthful stntc-
lntnt. When Judge i,ml.ett was censlhertng
tllis ninth question fur tIir Register t1 answrr,
l,u turned hack n,n read the clauses relating tU
,lm repu!ts required f:Din tho MnEthai at,'l tue
| Clerk. When the rcat,trttnrNte OF lie statute
were considered In relation to the other ni|Iccrs,
anil t!lc ehanEe of lan.iane which Cnugrcsa
adopted In relation IL Tic l.eeiaters, 1t seemed
| to b. uUre eltar tha, |: otherwise would t1Iat
tilc eases referred, because no other officer was
required to stale anything aout cases Referred.
Ihi: Assignee was required 10 report cases IN
Ills Charge dnr{nR tlbt year. but ihr Register wa*
| mt required to report tsuw manY taErA we're Ia
Ill. Charge, except thosc TINT cumr to him 'ur-
tug tue year. liz hal sonc doubt as ~ tie cotl-
etruettult, bit his toilyleti0n framed th th way
tn which Il wns finally construed by .,n'sge
| In this ci,y-such as =. Corning Judd and JOHN
| n Jcwrtt-cone.tfe1 In the tAne opinion. IN
Juir, 1875, he went through, the casca which
had been referred to h'u,, uns' 'nade 60 f,,elno,
and settled up. III thefe cssca: hc took tl'e ex,
urt fees Is put down in bis fee.books. md added
them together. The remaining rases lie wcnt
through s lesoooks iyr, mn, taf nj e., as sn', .are,a'
,pnu M average, Of thu tees earntd, which
Should nrllde pronEs Of debt md all tue testi-
lnony taken In thc casc, nrcp'ding to lts 1udc-
nlrnt. lie ha,l clerx who went through the
examination with him, MI! tie reports we're III
III handwriting. THEY discussed ,hc nlaticr
as to what was (nst, fair, and aroper
to he ssea,asd ts.,, as fee, ,ot eaF,etl xea
ended. lie did uot rc7ard shr money desposi,e'l
first few ycars u his administration, as Register
he kent little book, al'd whenever NJ, bIaatey 1
bnt,k, ull llt the bouk n1hl nuncy into his safe.
liz never touched the nlolvy; nessr put II On
lis casll-book, nn never used It; but when tti':
lasu .,u. The deposit, n.l strike the na;nc and
itIv tn,cv OF tte book, and return u Mr. lsral-
lcy whatever wns u be returned. u my Was "a
retrns M! pnt y " h., rsnnr tras nr m ~ ,, ,s
OYER sl,i) Ut that to,,ev III hts SUITE a''! u waa
utterly destroyed H,nl lost. After tte tire lie
thought hu hal better nut IT together With Till
uol. Co;pcr--"ll,c matter Of keeping tlIt as d
trust. .iunsl By ftecls dn't CONTINUE TIL The tlu1e
OF tic great sttt"
III was always regarded a. trust fund"
"Bnt h1w vas It trcatedi don't care 10"
cit was treated as tE,las-fInd."
II liow wan II ltcalcl ns d ttust-fundf"
"By rcgurling Il nnd ttratsng it a. Dc
'@ii"w, nid you keep 1t separa'ep'
| "Su, sir" ......-.-
"Dit'n,t YOU invest 1t us other aoney-jut
tl,c sanct"
"lluw do ys,i say It mas srlsat-fundf'
"lt wut fccs a,ui cnolltnlcnt. received
tboug!, lad laid iowl my uice July l.. ISIS
there woul,i haye hccn fl nj hands to be Ut
c,,,ntcd for q, 500, as u trusl-fund, to my sue
"Tnat Is argument. What / want to know il
tle fatt,-in what na'!l'er you treated these do
pusits rs Il trtlst-fmndF'
ii esn answer 10 better Than hive"
; IL WIS simply IL your own mind' thcn"
s.So int d. .c benchrIarics were concerned
bo fnr ~ your acts WcTc CONCERNED, thAt WI
il iioMrr @ n. liibnnrIA money, wasa't iii "!
had put + With yo'trowndcpos'ts' Ind you notp
s, "'rlcu why 10 you nay 1t waa trust-iuuli" I"
nWheu yuu nsk slc kttcft question and ut
tcppt to answer II, you say argue il, when tllt
Huswcr can unly he by MI srsusllent.'
$50 Jou put II In yuur !utkct nnl treated Il
. III tloa .h II beionrsd t" IL. NJ ilIbbard'"
Perhaps II was"
"Thvn ask ynu why, having received It uh
der ttle provisions Of fc law, you didn't retur'
i. IL, yulir Bwu.I, rcportt" -
"Wheu ] answer you, l ran only 10 It by a,
| argument"
!, "U you hive nny oif,rr explanation thar
. | those yt,lt have given, wsnt yOH tO give It,"
"s,ipuas!u:1 had rttnrhch them and alll
. next ,ius | yMatrG ,ly nIllcu and turned nyc
: t,r f!,IN tu my Astsyssor! Thry. would liav
beet, rcp,rtr,l "fcr as the fees ata! te onloll,
plef,ts III tllc licglttcr.'
i "supi,ose yuu ila,! ftcit It md becn u,la6
! tu return III Wuultn't the sa1lo thing lay
y" Yes. Will fay. howcycr, ilat heforo
,,atle tny rr.Wrt consulted Judge Hlntgclt ol
: t!lls n.sblcct, ani, furthermore cscry lscefstc
, iimt kiluw vi Ii. the United st&,es makes hi
returt On Tic SAME hypothesis"
tn unHwer to further qtlrstiont, Mr. flfbbart
rcttrrcu u lteEistrr tisant, alll ltesstrrA Eato
nml Clark, of IT, JA,ult, as snaklnx tlp!r report
u in this way. Mr. llEbi4rt! aa.te,l Hut he hn'
sc|t dluu't feel to-. Nrtan, but lu gave III
r ! funtipr lhnrutIEh consideration uu tullallltc