The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-08-08
THEIR COLLATERAL SPOUTEl
II. MYERS & BRO SAT- THAT BACkE
POCKETRD THE PROCkEDS.

IrJunctiona TO Prevent the Banks whic1
Have IL Fro. seiiine lt-No Order q
Arrest Asked For aud No Explanations
sligo Myers, q tobacco grower and ono Of tn,
firm OF Herman Myers h Bros OF the Savanna
Grocery Company OF Savannah, has made an
davit that Abraham Baoker Of 2s5 BROADWAY
the dealer In commercial paper who has failed
for t40oo0oo, hypothscated certain securities
given TO him for use only rs collateral and de-
voted the proceeds to his own use. The afii'
davits were presented to Justice O'Brien IL
Supreme Court, Chambers. on Thursday 10
support OF 4 motion to restrain the Central
National Bank and the Merchants National
Bank from disposing OF the securties pendlna
trial Temporary injunctlons were granted
and on Aug. II argument will BIO heard.
Herman Myers 10 President Of the National
Dank Of Savannah. rs we'll as OF the Savannah
Grocery Z, mpany. In the sffldavlts prepared
by LAWYER Samuel Untermyer, Sligo Myers
SAYS that his firm employed Baker 10 get dis.
counted two notes OF $4,000 each. and two Of
tl2.5OO each. As security Myers Brothers dc.
pcslted with Backcr sixty negotiable bonds Of
$500 ench Of the Savannah and Atlantic Rail-
road aud note OF the Muscosee Real Estate
Company OF Columbus Ga BAcksr rsp.
resented to them. the affldavits say that
he could not get tue notes dsconntsd without
'eSS for their IN ma:
have since found was false. nsrksr discount.
el on. 81 the four notes at the New Haven
tho Cen,rn! National Hank; aud tue other at the
hS9f tnor They wSS I:
The 70 10 .ur i deposited BY Myers sro!nsr:
hank and used wi h some tecurliies Of HE
own ~ collateral 'or loan OF 100000 or more
e i sa s f, 10 de
3d. and the Injunction was asked for to cona-
rel Tue H"nk ssop nk &. Sn mot % re-
s d S5s qMssSsps 'ooafos 10:
.as liz s9SS. 81 N to
h 1sF % Nsssdi sst Sat ns' 5 !aSs
shares Of stock Of the Sation.I Bank Of "a.
pay mant OF such notes ~ might be sent to nina
By the firm for dis ount. On NAV IA last this
al. sso % asn sr
for nfskS5 got the note .,S "a
sr sfT wsh alleged Se
had taken tho stock. with some other securI-
ties TO M m ne Merchants National Bank and bor'
The, position that Myers Bros. are now in is
cainot reclaim their oiiaters! unless the loans
Hne. or got on It are raid. They declare that
they are ready 70 take Tn nsr nStss 4
dola above th.ir liabilities.
GngRenheimer Untermeyer represent
creditors OF the estate to the amount OF $40 QUO.
They refused 20 give tho names OF any OF their
clients except \. Henry Rothschild 4 Co. OF
this city. The majority OF tho crSdi!ors are
Wsissman 4 Co. say that Bscker has owed
nothing 70 them and dealt in none Of their pa
Isaac Dreyfus OF V. H. KDth.child 4 Co. said
that Backer owed his firm about $4,000. It
was the alAnce Of u $780, 900 Transaction. They
Mr.. Dacker was at bis Office yesterday morn
ing Tor couple Of hours and then vent
look up Ills friends. He refused 10 talk
to, reporters, md said that Assignee Bsnjs-
min +. Finstein was authorized to
make 4 statement. The statement Mr..
Einstein had to make was that ther- va. noIh-
charges brought by Myers Brothers. he said
that every argument had two sides, He bad
hs1s hs
that iftire was given and he was not crowded.
Dir. hackers affairs would come out all right