The comet. [volume] (Jackson, Miss.) 1877-1882, 1879-06-28
Seizure of the Louisiana Saving
Bank on n Judgment for Taxes.

The Times referred briefly Tuesday NOR
ing to the seizure of the Louisiana Saving
Bank, on tax Judgment, by the Sheriff
The tax was the bank authorities say, bar
ed on an alleged valuation of $1,000 fe
the past six years, not eXclusive.of tie tax
already paid by the bank, and amountin
to something over 1920, 900. This the ban
had declined to pay, falling back upon I'll
provisions of the charter eSemptingi frol
taxation.
Suit for this amount was instituted by I'll
State, and Judgment rendered against TIL
bank by Judge Rogers. An understandin
was had, which, the bank officers held, jul
titled them in the belief that the matte
could be amicably settled.
After the seizure was made on Monday
the officers of the bank waited upon Ness
Ogden and Edgar, when it was suggeste
by Mr.. Ogden that deposit equal to til
amount of the judgment might be made j
the hands of the fiscal agents of the Stat
to be disposed of finally as the Suprem
Court might decide the case. A Temporal
release was then ordered.
The proposition was not at first accepte
by the bank, its officers and attorneys be
lieving they had other means of redress q
their hands; but subsequently Mr.. Ogde
was notified by Mr.. Palmer, President Q
the bank, that the deposits would be mad
as suggested. The latter was then inform
ed that the proposition was now withdraw
and that the cash must be forthcoming bt
fore half past three o'clock, or the ban
would again be seized Nh Palmer hel
that his duty to his depositors would nc
justify him in making the payment withol
the sanction If the board, and declined
pay, and, according to promise Sheri8
Gauthreaux again took charge.
The officers of the bank indicated t
building in which the bank is located,
an asset worth twice the amount of \
claim, and notified him not to interfelt
with the books and papers of the bank a
his peril. The safe was locked up befoHC
the seizure was made, and the officers of tt
bank declare that if the Sheriff wishes to
obtain access TO it he must do it with a
a chisel.
Assistant Attorny General Eagan, who
was at the bank late last night with Sheriff
Gauthreaux stated to a reporter of the
Times, that he had notified the bank week
ago of his intention to seize, in default of
payment.
No notice, however, was taken CT this, and
therefore, on Monday the seizure was eff
fected. .... ....
The bank officers refusing the suggestion
of Attorney General Ogden to deposit the
money with the fiscal agent, the seizure was
on the agreement Of leaving tbe
question to the decision OF arbitration,
Mr.. Palmer promising that Inc mon Y
should be promptly paid if the decision
would be given against the bank
Messrs. Semmes and Finney were chosen
arbitrator, and decided against the bank.
Notwithstanding the promise, the bank
did not pay, and at half-past three O'Clock
another seizure took place.
Later i'll Inc evening The Civil Sheriff
vas served with a ue.ioe that he and his
'ureties would be held responsible. He
sent for Judge Eagan, and
irove with him to the bank; at the same
line he notified his attorneys, Messrs.
Breaux, Fehner and Hall, of what had
aiken place, and when the reporter left, was
n consultation with one or two of these
5entlemen.-N 0. Times.