Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1886-12-23
The Sheffield & Norton Bank Again
Creditors Clamerous for "A Settle
ment-After Three or -Four Years
Waiting are they Entitled tOit?

Waiting are they Entitled to &C.?
ED. NORTHWESTERN demand for a
full and complete settlement Of the af-
fairs of this bank is not confined to the
creditors alone, but is equally demand
ed by every honest and intelligent citi-
zen of this county. Can any valid
reason be given why this shall not he
done, and done at once. Can any valid
reason be given why it has not been
done long before this. Can any valid
reason be given why High and Norton
have been permitted to hold all the eff
fects of the bank in their hands, as well
as all the real estate, justly and legally
liable for the payment of the debts of
the bank? None has been attempted.
The creditors have been simply treated
with cantempt and told to go to sheol.
Some three or four months after the ap-
pOintment of High, upon an investiga-
ton of the assets of the bank, it was
found including the small amount of
money on hand, 10 be insolvent, yet it.
was hoped that an honest and prompt
conversion of the real estate would pay
all or nearly all of the Indebtedness,
and such is the opinion now of those
best acquainted with its affairs. uao /
Relying upon representations made
by Mr.. Norton that the creditors would
be fully paid, and believing they were
made in good faith, they were induced
to wait. Within the last year it was
found that Mr.. Norton had disposed
of in one way or another a large guam
tity of the most valuable lands. He
claims that the sales made by him are
valid, it is believed however that all
this property is, and has been, in the
hands of the law-and must be applied
to the payment of the debts. Norton
has sold this real estate on his own mo-
ton, at price fixed by himself, with
out authority from any court in the
world. If he could legally sell one acre,
he could sell it ALL and for dollar an
acre if he should think proper. Ian
1t is not necessary, Mr.. Editor, to
characterize this state of facts TO an in
telligent people, especially in a county
like Henry, where there are more than
one hundred schools running IN full
blast. . ... .r... ......
A few months ago, it appears that
Mr.. Norton made deed In trust to
Gov. Scott of the balance of the lands
unsold; upon inspection, however, the
deed does not state who was to be the
beneficiaries of the trust, or for what
purpose it was made. Clearly, it was
not made for the benefit of the credit
ors, as they are not named in the deed.
Shortly after this transaction, still
claiming, suppose, to be the owner of
the land, he made an assignment of all
the property to Gov. Scott for the bene-
fit of his creditors.
Now if this trust deed to Scott is
good, then he had no property to as
sign; if it is not good 1t leaves the Gov.
in the lurch, as he has already sold a
| portion Of this real estate to the widow,
Hulda Fl. Sheffield, at o price I under
stand fixed by Norton, and paid by
her with funds belonging ultimately to
the creditors. No blame, however, can
be attached to Gov. Scott in this mat
ter, as he is known by all to be an hon
est, upright gentleman. -.,.,,t "a.
Is not this pretty kettle Of fish?
Why, when fully understood it would
bring smileIto the unusually grave and
sedate countenance of Nicoden,sls
George Washington Joly, Esq. What is
wanted, and all that is wanted, is to get
rid of these barnacles, to the end that
this estate may be settled up according
to law, that the journal entries and pro-
ceedings heretofore had, or pretended to
have been had, in the Court of Common
Pleas in this county, may be rescinded
and held for naught, that High may be
dismissed and required to settle as was
asked for by creditors at the last term
of Court, and that his accounts may be
referred to a master or referee for ex-
animation and settlement as prayed
for by number of answers and cross
petitions prior to the last term. Is
then anything unreasonable in this de-
mand on the part of four or five hum
dred respectable people, many of whom
are greatly in need of what may be OBJ
tained under the plain provisions of the
law, that is more than fifty years old.
They think they have that right, and
intend to enforce it. n s5,GlH
| aa ~ 81 trlI r# Ta@ 4g' CREDITOR.
Napoleon, O., Dec. 20, 1885. ,2".a
The annual number of the Cincinnati
| GrnDhic Mems ia ont fresh from the