The sun., 1890-03-15
IVES'S CREDITORS LET UP.
VILE TAKE PER CENT. ON THE UNs
SECURED CLAIMS.
HE Bail and Stayncr's In the Civil Pre-
ceedInes Reduced from $3.50. 900 Apiece
to 0S,OOO-They Arc Not Out of the

HE Bail and stAyncr's in the Civil Pre-
ceedIngs Reduced from 9e5O.OOO Apiece
to 0S,OOO-They Are Not Out OF the
| Woods Yet-IndIctments stIn In Force
| It was August IL, 1897, that Napoleon"
| Henry S. Ives announced to group Of report-
| ers whom he had asked to call at his office for
news that his firm OF II. s. Ives Co., palatlal
bankers, had failed. with liabilities OF $50 000.-
| 600. An assignment was made TO William Nell
son Cromwell Esl. who has put in good
deal OF time and energy during the last two
years and n hall strengthening out tho mass OF
! legal and commercial complications In which
Ives and his pals involved themselves and
others. The liabilities have gradually been
reduced to less than 80 O0O 900 by the action Of
| secured creditors and by the recovery by the
| Cincinnati, Hamilton and Dayton Railroad OF
nearly all OF the preferred stock that Ives is-
sued and appropriated TO his own uses.
| The creditors have at last como to the con-
clusion that tho general estate OF the bank
| rupt railroad wreckers is not worth much and
In consequence 95 per cent. Of them in interest
| have entered into an agreement to accept per
| cent. in each and relnquish their claims. The
claims OF the non-assen,inG creditors aGgre-
| gate about $250.O0O. or course. the secured
| creditors will work their way out as best they
| on the basis of whatever deficiency there may
| be when they have closed oHt their security.
The heaviest creditors are Tho lalroad COM
panies whose treasurirs Ives depleted. A syn.
| dicate has boen iUi med. principally OF c'ed-
itors. which VIII iMrni.n, tie money p, M ntesssary
the composition and take he general estate.
This will result in tho di, charge OF the assignee
and stops all civil proceedings against Il. 5.
Ives * Co. and tho members Of that lirm. This
last last statement npnlles to the action OF the
their assignee. which was compromised some
WeOks ago.
In consequence of the composition Assignee
Cromwell has peti ioned tho supreme COuit for
settlement of his accounts ani Judge An
drews has issued II citation to all re sous u-
terested in ,hcestatclt o appear on May and at
tend the settlement. The magnitude ui the work
Of administering upon such an estate as lvesS s
Cc.leit may be inferred from these figures tthe
original schedule Of tho asSglee. The total
sss sssus5 weFI S % Hf Which xSpsSHSSS SS
nominal or face value OF the assets WAS S25-
6Gi,26S. and their actual or market value was
On this state of afrairs the bail under which
Ives and Stayner are detained in Ludlow street
Company was yesterday reduced om s25O.p0O
to $2.U1o each; The order was signed by Judge
rlainIin rnd, J: ", and c, ". Titdgway, repres re-
certified cops, was taken Of 1t up to the hour Of
closing Al the Sherils office late in the after
there and that Ives and Stnyner were still un-
der the heavy bonds, 80 far as the Sherin was
They are still under indictment. and unless
they are prepared with bail on the indictments.
so long nS the indictments stand. release
from Ludlow street Jail would mean merely u
transfer. to the Tombs. Ives and Stayner
Will not take steps TO give bail In the
civil suit unless bail in the criminal
proceedings Is fixed at n sum within their
reach. In view OF the number Of indictments
upon to indemnify their bondsmen in both the
civil and crimnal proceedings and the bail
Ludlow street Jail hns been comfortable.
though somewhat expensive. Tor them since
Jan. IS 1855. and they have no idea of giving
hnl in civil suits to he locked up in the Tomb
They are not fools, IN the ordinary acceptation
OF the term. a.iriend OF theirs said last night,
and they will not depart from known comfort
70 the uncertainties of the Tombs IL applica-
tion Is made for their release on ball in tho
criminal proceedings 1t will doubtless be made
BY Charles ". brooke. as Mr.. Fullerton. the
other lawyer for Ives and Stayner in the crime
inai cases. is busy In the Flack trial.