New-York tribune., 1881-11-27
4 REcE1VER FOE NUGEN1'S PROPERTY

ANOTHER SEQUEL TO THE NEWARK BANK TROUBLE
THE APPOINTMENT MADE BY JUDGE NIXON
YESTERDAY.
In accordance with an agreement between Dlstrlct-
Attorney Keasbey and eX-Jndge Ieese' counsel for
CHRISTOPHER NuGcnt & Co., Judge Nixon yesterday
appoInted George b. JenklnsOn, oi Newark, 10 De
permanent receiver of the NugentS business ana
property. Jenkinson Is a friend Of Nugent and Is
one of his bOndsmen He qualified yesterday IN the
sum of 100000, his sureties being Henry Lang,
fhe Mavor-elect James Smith, jr. a leather manu-
facturer and Benjamin Atha, of the hrm OF Atha oc
Hughes enamel cloth manufacturers 81,
The application made by the receiver OF the
Mechanics National Bank to Judge Nlxon Tor the
appointment of receiver for the Nugents properly
was resisted by the Nugents counsel and by the
creditors of the firm When the motion came up he
fore Judge Nixon last Tuesday nj Trenton, ueIaY
was obtained and conference was hcld between
the counsel. The Dlstrict-Att0rney prOposeu Ihas
NuCcnt consent to the appointment of receiver 20
conduct the business with the aid OF the Nugents
nending issues could be settled, and thus preserve
The rights of all the persons concerned III was
finally agreed that the individual property and the
manufacturing property be placed III Mr.. Jenkln-
sons care as receiver with power to carry on me
business under the order OF the Court. one oi the
reourcments of the counsel for Nngcnt was that the
interests of the creditors, and not merely those ot
the bank should be considered, ana tiat the NJ
gents should be allowed to retain their dweiIng-
houses and should receive compensation Tor their
services i'll the business.
Mr. Keasbev explained yesterday that suits had
been begun by the creditors OF the firm whose
claims amount to 100000, and if judgments were
obtained the business would be ruined by Sherfs
sales His object in cOnSenting 10 the appointment
of the present 10 conserve the interests
OF all the creditors alike. Judge leeso said that,
with free administration of the affairs ol the firm.
most of the CLAIMS if not all of them, could be paid
in time. .,
The committee of the deposl:ors appointed early
last week met on Friday evening, and Will
report TO a general meeting TO be held tonor-
row Ii is proposed to 60 right ahead
with the suits against the directors Several
business men who are not depostors have expressed
their willingness 10 subscribe for the pay
ment of the LEGAL expenses the ground that they
desire for their own satisfaction TO have the qucs-
tion of the responsibility OF the directors OF
National bank legally tested. TIE opinion Is cx-
pressed by directors that the amount ~ the de
posits, over and above what can possibly be got
from the assets is too large TO bc made up yolun-
tarly by them. 1t is their purpose TO revive the
bank, Il practicable, and frequent conferences
are held with that purpose in view. TO
accomplish this the par value and assessments
ON the stock will be paid TO the Shareholders.
Receiver Frelinghuysen has obtained from Judge
DxnOhue of the supreme Court IN this city, an
attachment against the property in this. city OF
Theodore f. Baldwin, the paying teller o the bank.
who is a half brother Of the cashier. Deputy
Sheriff Begg has served the papers on Rycrson ~
Booe stock brokers, of No. 30 New-st. but 1t Is
not known yet what balance they have belonging
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