The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-22
THE COURTS.
Ass ,ssments Of Personal Property of
Fire Insurance Companies.
INVESTIGATING A BANKRUPT.
Investment by Trustees Under the WIN
Of James !. Roosevelt

In the suit of The People ex rel The Manhattan
Fire Insurance Company VS.. The Commissioners of
Taxes, it will be remembered an appeal was taken
from the decision of the Supreme Court General
Term, affirming the assessment of the company's
personal estate for the year 1873. The company
made return Of its property to the Commissioners
by which it appeared that it had taxable property
The Commissioners compared this return with the
report made by the company to the Superintendent
OF Insurance of it's condition the 31st of December
1877, and fixed its assessable property at s546sl
The company appealed to the Supreme Court by writ
of certiorari, claiming that the Commissioners
were bound by the statement OF its property made
by. the return; that it was entitled to
deduct the whole amount of its unearned
premiums and the market value of the United States
Securities held by it from tho amount of its taxable
property. A right to make use of any means in their
power ascertain the value of the taxable property
within their jurisdiction was claimed by the Commits
souers and they contended that the anoant TO be de-
Quoted from the company taxable property because of
contingent liability for unexpired risks to be de-
terminea by them; that the allowance made therefor
OF one-half the amount of the unearned premiums
fair and reasonable. and that the exemption of
United States securities from taxation by the States
limited to their face and did not 60 to the mar
ket value. The Court of Appeals has sustained the
Commissioners all points. The decision is claimed
to be of great Importance. as controlling hfty-two
cases brought by all the insurance companies in the
city involving assessment of So 900 OF prop
ery and about $24oOo0 of the tax levy of last year.
William Allen Butler appeared for the insurance
companies and q. A. Eeall, Assistant Corporation
Counsel, for the Commissioners.
ALLEGED FRAUDULENT BANKRUPTCY.
case OF unusual interest, In connection with a
charge of fraudulent bankruptcy. is under examina-
ton before United States Commissioner Osborne.
The party charged is Simon Moses, an extensive
wholesale butcher in Washington Market gen.
era dealer in live stock The charge against him is
conceang his assets in bankruptcy to the amount
of $4,000 with mutilation of his books and papers
and emitting his assets from the schedule. On the
10th OF December, 1877. Moses made q general as
sgnment of his property for the benefit of his
creditors, owing about $4,000. The assignee his
brother-in-law, Jacob Rosenfeidt Within ten days
before making the assignment he bought cattle to a
large amount principally from A. N. & j. A. Monroe,
who had him arrested under Stilwell warrant.
alleging fraudulent representations in his purchases
from them. While proceedings were going on against
him under the Stilwell act Mosesed an Involuntary
petition i'll bankruptcy in the United States Court
This. il alleged. a friendly act OF or
more of his creditors to rid him OF his troubles
In the district Court. Defeated in the
State Court, the prosecuting creditors applied
to Judge Choate i'll the United States District Court
to dismiss the creditors petition in bankruptcy on
the ground of untruthful allegations and that crcd
tors appeared as having Joined thereon who had not
so joined On that ground the petition was ordered
TO be dismissed by the Court unless the debtor ut
once filed his voluntary petition. This Moses did in
June last in the District Court. and it the
debts appeared existed at the time of his general
assignment; but no assets were shown or delivered
to the assignee in bankruptcy as had been
delivered to the State assignee. 1t appeared
from the schedule in bankruptcy that cattle
to the amount of 100000 were purchased
from the Monrocs between the 1st and 18th December
1877, which Moses sold ut market prices, aud the
proceeds poaheted by him prior TO the making of his
general assignment few days subsequent. AS
against this his schedule shows assets amounting to
mo-: more than $4,000 The deficiency. amounting to
$4,000, is alleged by the creditors to have been
GREETED withheld both from his estate assignee,
his brother-in-law Jacob Rosenfed, aud from the
assignee in bankruptcy. Pending the examination
before Commissioner Osborn Moses is held in 900
ball. his mother-ia-law Caroline Rosenfeld and Solo,
mon Mehrback being sureties on his bond.