Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-12-10
Secretary Johnson's Report.

Albert NJ johnson, Secretary and Attor.
ley for the Board, aiso submitted his an
nual report at yesterdays meeting Like
the Presidents report it is valuable and
interesting document. 1t was as fallows:
To the President and Members of the Sacramento
boGrd o. Irdde-GENrLEMEN: In accordance
with custom, your Secretary and attorney sub
mits here with his annual report of the proceed.
ings in his departments covering the period of
one year from December, 1889.
This report embraces ten mouths durir which
my predecessor, G. G Pickett served as Secre-
tary and attorney. as well as the last two months
when the position has been fl ed by the under
signed.
TIE financial condition of the Board being
iuliy stated in the reports of the Treasurer and
Auditor, 1t Is not necessary for me to go into
that mater; The Only moneys received by the
secretary during the year have been for
monthly dues OF members, aggregating S677
while the disbursements as shown BY the books
OF the secretary correspond in amount with
lhose stated In the reports of the Treasurer and
Auditor.
During the year last past, as near as can be
ascertained, notice has been given this office of
about 800 failures under which term are EN-
traeed all clses of attachment assignment. etc
This is much less than the average Our people
nave been interested in ninety-six of them.
lhe:e have very few of more than local i'm
portance, those few being: ]. T. Wight 4 Co. of
kiikwood, still pending; Brock & Taber of Orc
vile, which IS the principal one and not vet
settled; G; 81. ButteIfeld & Co of Lincoln,
Company OF Newcastle, settled within the last
two weeks at 40 cents on the dollar
AS general rule, the settlements during the
year have been decidedly favorable to the
creditors Extensive failures have not resulted
so frequently as in former years.
The members of the Board Will remember the
enactment by the Legislature of 1889 OF The new
assignment law, SO called, by the provisions of
which ! assignments TOR the benefit of credit
o-s, which before that time could be made TO
any person. were Iequired thenceforth to be
HXpnnfpi f.4,,, r;1,,
10 whomsoever the creditors, at meeting held
Tor the purpose, should choose as The assignee
OF trustee. The object Of this law was 10 pre-
vent, If possible, the transfer of their property
by failing debtors 20 friends and relatives. who
thereby secured, in effect, a preference which
otherwise they could not have obtained So
lar as ms once Is concerned there has not been
much opportunity afforded for an investigation
OF the workings of the new law, because assign
ments under it have been decidedly few: in fact
this ofhce has not had one case under its man.
asement or Drought to its notice during the year
just closing. The cause OF this is attributed,
however, to the enactment of the new law,
which has had the effect, az least throughout
the interior, of doing away almost entirely with
a signments for the benefit of creditors as they
were Known under the code before the passage
of the new statute. Allsuch transfers are now
one having the largest claim. in trust
for the benef. OF ALL and in no case so far as
this office knows, has any creditor refused his
assent to a transfer of this kind The estate of
debtor is settled more expeditiously and with |
much less expense than uEder the former sys- |
t m. IL is understood that strong effort will |
be made at the approaching session of the Leg |
stature to secure the repeal of the new law and
the enactment of the old In this county, |
so far as we are aware, there have been but two
cases OF the kind, the first being the assignment
of John Brewster & Co., of Calf, and the other |
that of John J. Trarbach, both of which oc-
Cured in the year 1889.
The law department of the Board has seen
fewer actions commenced than during any
previous year of the Boards history-doubtless |
an indication of the prosperity that has atten
ded the mercantile community.
As the members of the Board are aware, Mr..
G. 6. Pickett, who for nearly two years and
half ably represented you as your Secretary and
attorney, and enjoyed during that time the con.
fdence of the members resigned on the It'll of
october last and removed frUm the city.
The Board OF Directors have had under con-
sideration during the year many matters of
general as Well as local interest. but as the
same art outlined in the records of the Board,
and as they properly afford subjects for discus
sion and advice by your President, the Secre-
tary need not particularly refer to them.
No disputes or controversies of any kind have
arisen i'll the year among members and the
services of the Arbitration Committee have not
at any time been called into requisition.
The Secretary has not been directed to pre-
pare specially for consideration at this time
anything pertaining .othe interest OF the Board.
he subject of incorporation has been fully
explained to you ty your President; the records
of the Board show that articles of incorporation
were duly flied, but further than that nothing
appears to have been done towards the perfect
ing OF the corporate organic ition suggested at
your last annual meeting.
cannot conclude this report without express
sing TO one and all my appreciation of the
honor conferred upon me in choosing me for
the second time as your Secretary and attorney.
am deeply sensible OF the obligation under
which l have been placed by those amNng you
who solicited my appointment, well as those
who officially bestowed it upon me. / am
pleased thus again to be associated with gentle
men from whom in times past have derived SO
much valuable aid and beg to assure the men,
| bers. one and all, that in every matter apper-
| tanning to their welfare and that OF the Board,
| / will be found acting in such a manner as best
| to conserve the interests of all.
! All Of which is respectfully submitted this
| 10th day OF December, 1899.
| ALBERT NJ JoHSsoN,
! Secretary and Attorney,