The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-07-08
Endorsers OF
So, ,37s n S12s,cs5 e.
2I,S79 "a
S1hOa65 Z


1913, ,451 II Of the amount endorsed by
Mr.. Clark is paper, with Mr.. Pidcock's
name on also and is included IN the
amount OF Mr.. Pidcock,s liability and
SIT. $50 of the Endorsement of Mr.. Ander-
son as member of certain firms Is also
liable as maker"
The Information says that it further
appears by lettef accompanying said re-
port written by Atvah A. CLARK TO the
Commissioner OF Banking and lnsur-
ance that the QuiCmau Lumber Company
is now in the hands OF a receiver, and
that in the line OF discount or j. n. Pid-
COCK the said bank nolds as security on
real estate mortgages to the amount OF
S24 419 90 and first mortgage bOuds of
amount OF Sl2.0O0 and that on paper, for
which Mr.. Anderson, Que or tne dlrec-
tors. is Liable, mortgage on real estate
for S., 600.
Aud it further appears by said state
meut that debts to the amount OF
81, ,t2S % are deemed BAD. and that it is
CARRYING suspended and overdue paper
to tbs amount of SIS, ,329.86.
FIRST NATIONALS BLANKET MORTGAGE.
The information further says that the
First National Bank of Jersey City holds
q blanket mortgage covering the lands
and assets of j. n. Pidcock & SoHs, 10
E-seeare for large advances made. 90 /, is
& Sons.
And, further, that in the past few days
the said James n. Pidcock executed 8
mortgage to John f. Pldcock. James n.
Pidcock, Jr.. and Alvan A. CLARK on all
his lands in the county OF HuEterdon for
| S65. 600, to secure endorsements of his
commercial paper, and that deed has
been executed by the said Pidcock for
the same properly in fee to the Reading
ton Land Improvement Company for the
| consideration of $500, as by reference TO
the record of the clerks office of the
county of Hunterdon will more fully APP
pear.
The informant further saws that on the
sixth day of July A. D.. 1898, Alvah A.
Clark obtained a Judgment in 5he
Supreme Court of the State Of New Jer-
sew against the said James n. Pidcock
| for the sum Of S7s181. 96, and that John f.
| PidcocK ou the sixth day of July A. d.
| 1893 obtained judgment in the Supreme
Court of the State OF New Jersey against
the said James N. Pldcock III the sum oil
| s., ,952. .46.
The information further says that the
said banking corporation has been con-
ducting its business IN violation of its
charter by discounting notes drawn by
one director and endorsed by another
director, and has further vloisted It's
charter by declaring aud making divld-
| end on the capital stock of said company
out OF the capital thereof and not out Of
| the net profits arising from its busl-
ness. and charges the fact To he
| chat the said company is insoiy-
ent; and that it has been carrying
| on It's business at great pecuuiary
| loss to the stockholders Of said company;
| and that it appears as a result of examl-
nations. the reports of officers OF SAID
bank and the other matters above set
out, that the affairs of said bank are in
| an uusound condition because of Illegal
and unsafe investments. and t hat its
| liabilities exceed its assets, and that 1t Is
| trausacting business without authority
aud in violation of law; that the
| Commissioner of Banking and In
surauce has notitied the AT
| torney General of the condition of the al
| fairs OF said bank. aud it has become the
| dnty OF the Attorney General TO proceed
| by petition, bill of complaint or informa-
| tion. to the Chancellor. for an injunction
| restraining said bank from the trans
action of further business or the trans fer
| of any portion of its assets in any man
| ner whatsoever. an,i for snch etRar re-