Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-05-24

81 49, 20. "'iruuant denies, all aud Sin.
nr,.,f ne higgatlQns. and demands strict
utyn the country
-, mrieth. Specially answering said p,-
Suoi' ieiendnht admits that defendant
osnk 10 on the 18th DAY OF July, 1851.
ufln business and close lis doors at
ne ~ lguSSi OF he comptroller Of currency
quest Of the hoard of directors fn, IN
a'asg sn. thnt II lid not thon have on hand
= sunlclrtt amount Of money TO authorize
10 carry on banking business. and
u,nt rue suspension of said bank con.
tonn,ed until the 2itk day OF Sentemher.
n,l,,., When fendant bank was nor
Jna.u " SAID comptroller to open its
uu"rs ana tn resume business: and thar
she comptroller Of currency allowed H.
'hvahl 10 resume It's business an tbe
ru.hth OF the characterization Of defendant
Ni,sth' that defendant hank has scrnre1
nan""u, recourse on IL. the sum Of Sitn-
an i Will WIN the money II Il On had
~ "nln. WIS sufficient under the laws az
,ne nited States. to allow il 10 r,,,,t,e
business, But defendant le,i.. mn
s'uIu representation OF said Smiil, wns
iat.a 1hd fraudulent. on the contrary h
sNfs ,hal said representation was trne
eshu that at the time Il was made Ia
',,,,..t MINK had secured. without NJ.
i, ~, ~ y, ne sum ~ SlpO.O0O and.
ONn FNu''u me sum OF Sl21,-
II. Fhirty-drst, Further answerine .o,i ma.
,"'' rus defendant says thar Il l. nor
Whe as charged therein. thni ia oni,.
nNaliau'e assets NJ the time Of lis sns.
hensi9n, consisted Of real estate. lint lie
H., tn9i / Then owned large GUAM
- VI Nuluunir hills notes and accounts
a-Nihal Solvent Persons and thnt thn
same constituted the gra,ter nnrt ~ r.,
assets at the time. II then owned only
small quantity NJ real estate. which /,
uAI Obtained iu the collection Of H. ,iebts
anu as security for existing debts. A,
deiendant saws that. though Il nov owns
large quantity of real estate. and Of
obligations secured by real estate Thai
snch real estate owned by it was az
Qhie1 IA the collection of dehls due II
ard the real estate which Is security far
dents was takon as security for pr,-ex.
listing debts.
Ihirly-sccond. Further answering said
petition. defendant alleges that It Is true
thlt, since It's resumption as aforesaid
II has not done a regular banking bust.
ness; but 1t alleges that 1t has not been
on account Of inability TO transact surh
business further than results FINN tbc
policy ct the bank To realize on it, as
sets, pay therrfrom It's debts aud then
% into liquidation. That il has since It's
rrSlmptinul of business been offered
profitable business. but has refused IT,
for the reason that the managers of the
bunk have been devoting oil their efforts
10 the liquidation OF its affairs MS will
he hereinafter more fully stated. And
defendant denies II has been usclessly
eXprnding lis assets for the personal
benefit of Page. Smith and l.uckru. On
the contrary N alleges that said Page has
derived no personal benefit from the con
duct Of its affairs since resumption. and
that The only benefit that said Smith ard
lMckctt have derived has been In the
way of salaries which will be herein
after more fully stated.
Thirty-thirl Further answering said
petition. defendant alleges that 1t has
been impracticnble for IT, since rcsnmp-
ton, 10 do a banking business hut has
been 50 puly ON account Of It's said poll
cy. and that Il has refused to do gem
rrdl banking business In order that II
might he enabled speedily 10 liluidate the
affairs of the bunk, all Of its available
assets being applied MS rapidly rs real
lied to the pnynent Of the banks debts.
Thirty fourth. Further answering said
petition. Defendant alleinw that II h
true that. on the l2th day Of January.
1Ssl2. the Stockholders Of the bank, mt u
regular meeting, elected The directors
mined in said petition. and that. ON
the IAN day of January. lSl2. tue d.
said Page vicu-pruident aud said Smith
Of said bank That the plain
Iins porwood and II, w, Harris Were
pp,scna ut the meeting Of the
and voted for said !
l.uchc,t Rage aud Smith as directors |
lf snil hank. knowing nj the time that |
d was the design Of the directors 10 elect |
Nrnton Insurance company, VI. l.. Lov- .
H. Rail clay. Dinicl kcichum. ", V. |
uris. Sarah A. Stewart, Abum Stcph-
'ns0n. Wnlby and Clay and y. W, Clay |
before said meeting OF Jan. Il. lS!i2,
Hd executed their proxies to said X. NJ
Page. With Tie power Of substitution TO
tote their stock At said meeting. and
he plaintiff W. H. Bell had given his
proxy To said A. II. Smith, with power to
ilhstitutnn 10 vote his stock for him at
aid meeting. that said Page appointed
robert McCnrt aud said Smith also mp
,ointed said Mct'nrt TO vote said stock
or said persons represented lay them
and that said Mozart at
aid meeting voted for said Smith aud
'ngc ns directors.
Thirty-hfih. Further answering said
rtiiion defendant alleges that II 10 an-
nal meeting OF the stockholders Of de-
cudnnt bauk was held In The Month OF
nnuaiy. 1901. the failure resulted from
10 fault unom the part Of said Smith, |
( them were present NJ the bank nt the
inie fixed IN the articles Of association
or such meeting io-wii; Tie second
tuesday IN January, 1897, ready to mar
rpalr in such meeting " the stnrkhol I.
~ should hold one That the other
ioelhulders Of the bank especially he
laintiffs hcrcin-did not appear on sni1
ny for the purpose OF holding amy such
leetinr. That there Il no provision In
NJ articles Of ussnciannn for any notice
+ such meeting 10 be given To- The stock
Olders. but tho articles Of association as
for,.,ah fixed the time for holding the
,.ciing and all nf the Stockholders We're
ixniznnt of that fact ut the tilne said
ceting should have been held.
Thilty-sixih Further answering sai1
,tition defendant alleges that u u not
un ms herein ALLEGED that said Page
H. since his election as viec-prcsidcnt
IA directors In January lNla, dlctafed,
minated aud controlled the actions Of
majority Of said board ~ directors; !
I'd further controlled and directed The /
Engagement Of tho details 0f the banks +,
tsin,.-a Thsti lis MT true 80 therein
ipg,l that a majority Of snid directors /,
fer 10 the Wishes and yield 70 The ar
tfnry demands Of said Page. That il Z
moi trne ~ therein alleged that ma !
ritz Of said directors defer 70 the n
isles and yield TO the arbitrary de !
ands Of Page That II i not true as (
crrin alleged that a majority u said 4
ra..fnre and the management OF said .