Morning journal and courier., 1891-05-28
sTODDARD, TRUSTEE.

nell G ScrantOn-The BOnd of $15O, Furnished-A Weighty and Interesting Legal Problem for our Connecticut Courts to Solve-The Rights of the Mar ginal Holders of Stocks-Mr. StOd. dard is Also Trustee in the Other Case-The ApPraissrs-The Coming Appointment of Commissioners.
 There still seems to be an ardent desire n the part of the depositors and other realtors of the defunct Bunnell & Scran- on bank for gleam of encouragement re- ,arding the firms assets. A leading bank president of this city in a leisure moment yesterday scanned the assets and liabilities md figures out the result as follows: Of assets fairly considered as indisputably good, there are $41, ,089. Then there is h1b5, 900 of, loans, to the firm well se- cured. Now, said the banker, allowing that there is a 20 per cent. margin on these losses, as there ought to be in good banking, these securities (for these loans) ought to pan out surplus for the banks of $S0,000. Now then, contin- ued the gentleman thoughtfully, stroking his chin, jet us look at the stocks held on 8 margin with Prince & Whitely and Law son 6 Co. If the authorities allow the people to redeem these stocks held on a as payment of balance due as will be the case, there will be then a margin left there of 38,0O0. Altogether I figure out from the returns as presented to Judge Robertson, basis for dividend of 40 per cent.
 As to how much the assets will dwindle away by expense of settlement l cannot, of course, accurately estimate, though should not think that the expenses will count up to any important figure.
 HOW IT LOOKS AT THE BANK.
 At the banking house matters looked al 3 o'clock yesterday afternoon about as they did before the burst up. The cashier MT. Newton, and MT. Rowland and the other assistants in the clerical department were busy at their usual places of toll The telegraph operator was busily at work in his lofty eyre in the second story, his perch being in full view of all who enter the banking house. The Wall street quo tations were being received, telling of the varying values of the stocks held on margin or otherwise by the former patrons of the house. The alert and cbeerJ faced office boy was on deck as usual. Mr. Stoddard, the trustee, had just left. IT his absence the big vault, which looms uI gloomily and mysteriously in the real part of the main banking room, is closed and remains closed. Only at his ordel can the ponderous doors swing on thei hinges and open and disclose the burde1 within of collaterals, stock certificates anc other assets, over which there is just now so much interest.
 MT. Stoddard will for few days devote much of his time to the affairs of thu bank. After the hurry is over and orde is extracted from chaos, he will then sta. at the banking house only on certain hour of the day.
 In short time Judge Robertson vii name the commissioners, who will act il conjunction with the trustee in settling u the estate.
 MT. Scranton wau at the banking hous for time yesterday giving necessary in formation. He is somewhat feeble oWin to his late serious illness, and the heav strain and misfortune which has com upon him.
 Can They Redeem2
 ABOUT THOSE MARGINAL HOLDINGS OF STOCK
 Probably the weightiest matter to com up for disposition before the trustee that regarding the stocks held on mal gin. An authority in the matter said yet terday that probably the New York la' would be followed, and that parties holi ingstocks on margin placed by Bunne & Scranton would bs allowed to take ther by paying the balance due on them. B did not think, as some have maintained that the collateral or cash deposited by a
 individual as security for his stock bougt
 on margin would be wholly regarded {
 assets. He thought the marginal holde
 would be allowed to pay what he owed c
 the stock and thus redeem it and u
 balance of his deposit (deposited as co
 lateraD would be paid back.
 On this matter a COURIER report,
 sought MT. Louis H. Bristol, of the la
 firm of Bristol, Stoddard 6, Bristol, whic continues to represent legally the affai1 of the defunct bank. MT. Bristol, whe
 asked as the probable outcome in the ma ter of the stocks held on 8 margin, sait
 That matter will probably be decided h the Connecticut courts. It is too impo tant matter to be decided on the persons l judgment of the trustee, and it will probi
 bly, come before the courts. as there is n
 precedent in case of tn kind to look to in Connecticut law. w
 do not care to make law of our own, ,co1
 tinued the legal gentleman, with humol
 ous twinkle in his eyes. When asked b
 the newspaper representative concernin l the remark of a New York banker ths l H. 1o l, Iol 1,, ', kind that the marginal holder was entitle
 to redeem his stock, Mr. Bristol added hr
 morously that there were no doubt prect dents in similar cases in New York to th contrary, and that the question woul probably receive full airing in Connect cut courts.
 THE DOINGs OF THE PROBATE COURT.
 In the probate court yesterday mornin
 Ezekiel G. Stoddard was appointed trustt l of the insolvent estate of Bunneu & Scral
 ton under bond of $150,00 and also ( | the Charles w. Scranton estate under
 bond of $1,000. The hearing was begu
 before Judge Robertson promptly at
 o'clock, and all the parties interested wei
 either present in person or represented b | counsel. The lawyers who were preser to represent creditors were John w. Allinf
 Hilton E. Doolittle. Henry c. White, Her ry G. Newton, Edwin A. Smith, represen ing Simeon E. Baldwin; William P. Nilt | and Seymour c. Leomis. A few of th l creditors were present in person, inclue | ing Frank c. Bushnell. Louis H. Bristt
 appeared for Bunnell & Scranton. At the commencement of the hearin
 Judge Robertson stated that MT. Stoddar
 had been nominated as trustee, and tur1 | ing to Lawyer filling asked if there WE | any objection to his confirmation. No ol l jection was offered and the appointmer
 was confirmed. The judge then aske Louis H. Bristol, the attorney for Bunne
 & Scranton, if he could give an estimat of the cash value of Bunnen & Scranton
 assets in order that ho might be able {
 name proper amount for the bond M
 Bristol replied that he was of the impre
 sion that bond of $150, 900 would cove the value of the assets, and that amour was accordingly fixed upon.
 MT. Louis H. Bristol qualified as bondi man for $50, ,000 for MT. Stoddard. 1 Henry c. Warren and Wilbur F. Da
 were appointed appraisers of the Bunne & Scranton estate and of the Charles W
 Scranton estate. The commissioners wi
 be appointed next Monday.
 1 There was some discussion about the al
 pointment of an administrator of the esta1 of Henry H. Bunnell, the deceased men
 Der of the 3anking firm. Ex-Governc l Hobart B, BipeloW's name had been mel