New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-08-15
nc CREpIToRsARE ANXIOUS.
>ooss OF THE AMERICAN TRUST co. STILL
CLOSED.
,xorHER SUIT AGAINST THE MANHATTAN
rsusr-oTHER BUSINESS TROUBLES.

rrUsT-oTHER BUSINESS TROUBLES.
creditors OF Munger, Thomas Co.. investment
,.sers at No. 173 Broadway, who managed the Ameri
z, Trust Company OF Fort Worth, Tex, are looking
: cain 10 find the men. Those who have called at
<. New-York Office have been unable to gain any
sSnste information the doors are still closed by
a.r of the sheriff. Dispatches were received I'm this
49, Yesterday from Fort Worth inqurng whether
~ Munger in New-York. Both Messrs. Munger
"a Thomas looked principally after the Texas end OF
=. nusiness, while A. l.. Eastman managed the New
&C Office. The American Trust Company began to
s.,xste its business several months ago. and about
a.. weeks ago the sheriff received two attachments
.xrrstng $4,000 against the company, but found
.shlng here to levy upon. Mr.. Munger, when the
- n.rsn business here in october. 1899, said that
-, hsa a working capital Of 81 900, that he was
e.s $40 900 and Mr.. Thomas, $4,000. Mr.. Munger
- originally from Michigan, was for some years IN
.,srseen Oak, was one OF the orginators OK the
-ux,ps and Loan Association of Dakota and IN con-
..son with Mr.. Thomas. organized the First
w.spal Bank of Lake Charles, La the state
S.am.l Rank Of Vernon, Tex, and the National BANK
= Grsneury Tex. Mr.. Thomas was president Vi
a. lake Charles Bank until about eight months ago.
- ne was succeeded by William E. Ramsay Mr.
reonas was cashier of the Granbury Bank wnen IL
..,yzd in May, 1887, but withdrew, confirming as
. ar,ctor He was also director In The vernon
p.ns All these banks are doing an active business
= Eastman was formerly Congregational minister
- c.s.pcvia, " ". and was New-York State agent
=. che American Building and Loan Association Oh
Minneapolis. .h. va. =
rrrSor Of the American Trust Company, Is also It's
rs,l and has been appointed its hquidator by the
ss.,,rs Mr. Bright said yesterday that the winding
~ :, The concern was due 10 the fact that the New
90 state Banking Department had ordered the
cupany to deposit $4,000, ten per cent OF us au-
sor1od capital, with the Banking Department as So
,-y for its depositors in accordance with the law
-lssng 10 outside companies doing business In this
-. Mr. Bright saws he has called a meeting Of
a. stockholders though he has fixed no date for the
meeting. He places the liabilities Of the company at
nA Oos including psid-up capital stock OF S1227Oo,
srd other debts amounting to $4,000. The assets,
Mr. Bright says are about $4,000, in stock, mort
cages bonds and Texas real estate.
The corporators of the American Trust Company
were Alphonzo Munger president; B. B. Paddock, first
vSoe. president; Adelbert L. Eastman, second vice
prcsident and Abraham ". Thomas, secretary and
treasurer 1t was organized under the laws of Texas
h October, 1889.
Another suit has been begun against the Manhattan
trust Company, Francis o. French, Amos T. French,
EAward E. Geduey, George r. blanchard, Donald
MeIesn and Wendell Goodwin The complainant in this
spx is samuel T. Davis Of Sioux City, who subscribed
10000 TO the Wyoming Pacific Improvement Company.
The previous suit is by the Fidelity Loan and Trust
Company, of this city, which subscribed $4,000 Both
subscriptions well many others, were obtained
upon the representation that 100000 had already
bean secured outside OF sioux Clty. Other sults may
brobabIy be begun shortly.
The Wyoming Pacifc improvement Co. was Or
r,nized with capital stock of 100000 for the
pprpose of building the Pacific Short Line from Covng
2on Neb to Salt Lake City or Ogden, distance OF
1000 miles One hundred and thirty miles have al
ready been built. The Manhattan Trust Company
acted as trustee for the subscribers and some time
sso had mortgages to the amount Of 81, 100000 fore
Eosed securing the appointment of Wendell Goodwin
Us receiver BY the foreclosure OF these mortgages the
subscribers are left unsecured Hence these suits
Max Moses has been appointed receiver in supple
tpentry proceedings for John F. Behlmer, bother OF
NO. aO6 West sixty-eighth-st, on the application OF
vbe New-York Gas Fixture Company, a judgment
rreS.t,r About a year ago he erected the building
occupied by him.
The creditors of Bernard Drcyfuss, manufacturer OF
playing cards. fancy goods, ETC., at Nos 2oo CanaA
and 900 Monroest have taken charge OF MS analrs'
Tho Sheriff recently took possession Of the factory
INT the creditors guaranteed the judgments and the
shsr1n has been withdrawn committee or creditors
mas been appointed to look after their interests and
manage the business until they can WORK o CAV 'her
Tie schedules Of John c. Avery, broker in invest
rnent securities of No. 10 Broadway, show liabilities
$500 The nominal assets include S333,3oo Of the
STOCK Of the Continental Land and security Company,
S OF 20 Of Which Mr. Avery was the president The
property Of the company is about TO be sold under
foreclosure.
THE OLD COLONY pIsTILLERIES co. TROUBLE.
New Haven, Conn, Aug. IA (spedaD.-A meeting
NJ The New Haven creditors of the Old Colony Dis
t1leries Company held to-day. Judge Lynde
HARRISON representing the United Growers Com
many. OF Ncw-Yerk, stated that his clients would
take control Of the dstilery and conduct IL on a
new basis. To secure their claim Of 100000 they
would be satisfied to take q second mortgage upon
the property, while the company to be formed
under their direction would issue the other creditors
(whose claims amount 10 about $4,000 pc. cent
first mortgage bonds to the OF 100000 pay
ing all claims over that amount in cash; the whole
bond issue TO be paid within five years. Judge
Harrison stated that no whlskey certificates have
been issued in of the stock in the warehouses
The opinion Of the creditors seemed TO be in favor
of settlement and a committee consisting Of
General s. 4. Merwfn Fred A. Belts and Hugh DALEY
was appointed TO go 10 New York toll morrow and
make a complete Investigation OF the accounts of
the Old Colony Company, the same being in custody
OF the United Growers Company.