New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-06-09
4 FTNANCT1L FIGHT ~ ULLiHhNl nv
THE NATCIrAUG CoMrANY's sILKS-THE CASE
AGAINST Nix. OI.NEN.

THE NATc1IAUG CoMrANY's sr.KS-THE CASE
AGAINST Nix. OI.NEY.
Wiulmantic. Conn. June (SpecaD-A life ana
death struggle is on between the receivers "i '''
First National Bank and the NaichauS SIX No''-
MANY The issue directly involved l. the possession
~ about 10000 worth of manufactured SIN Soo"S
which the Natchaug company had on hand "hen
the First National Bank closed. and about nan
of which Colonel Chaffee manager OF me NA'Vn""s
company at once turned over ID the FIRST N"''o''''
Bank to secure il on Natchaug paper o"' WIN"
Receiver Hayden of the Natchaug company r.
indicating Colonel Chaffee's action. mas since at
tached for the company. Both the bank ana 'he
elk conpanv are ruined by the Ris.ey crash ana
must be wound up b. their respective receiver pu'
the posse. sion of this 100000 OF SIX S'ocA VIII w
4 big advantage to the corporation WING" "''S ~
and a big loss the other ah'cuns '''E,E
the dividends which either, will be abb" TO pay Inc
matter comes up in Superior Court here next tues
,,. -, ,,.oo @ m Mr. fiayden's continuance as
recoiver j. opposed by the Second National BANK u
Norwich and the First National Bank here' "ih'"
are Joint benehciaries in tie N"lv' OF SoonS WHY"
Colonel Chanee turned over to 'hem i"'F a."
understood to favor the appointment as permanent
rece,ver Of l. Lester Eaton OF Chaplin Wen
known money-lehdcr in Willimantic' VINO used 10
sell silk for Cheney Brothers. Of MancheS'''' VI
t,., viii II Is said work for the interests OF the
hanks while Mr. Hayden is credited WIN Il pun
nose 10 secure the Natchaug company anu wv
eauize IT with himself AT the he'u.
I, is estimated that the expense Of pr'p"i'"N ~
- line, Mr. Olnev School Fund Commissioner
h, already cost the State not less than >-''" -
seon The expense Of bringing the thir'''" W.
,os.cs here from Ohio this week was not less una"
:, o,, ar 81 800 The states Attorney appear" D"
.,,rt all ready to proceed with the case l'u' '"'
some reason the Judges failed To assign one Oh ''
number f. try the case and it goes over uh'' :"
.,,her while the assertion that the case never WI"
be tried secures mere credence than ever
the notice of assessment levied upon me s'o'N-
,,ors 10 the First National Bank. as issued lhur7
,,,. indicates q number OF things OF interest rms
Nv Doolev is likely continue as receiver UNI
the banks affairs are settled. sharp C"h'.hl W.
m ,da COR the permanent rceciNership " -,
s,'..,iva friends OF cX-COngreSsuldn LIVE '7ir''
- Hartford and state Bank COminlssioh'i +. ~
81 If this city and result MT DOOM 49,
- aiso National Bank Examiner seems - M
ror ciuded TO retain this plum himself -. ~,
,Sn all for the full amount permitted pS .i ,H,,s
W. cont on each stockholders holdings h'l," =.
ihat The bank needs to realize an l,,ss,e o'
,ssste and is scarcely likely u pay w. PEI ' n,ri,
i.nosi,ors though {; is believed VIII ptS ~
,bat and perhaps quite. If the Natchaus Sln -,
1o"tI, ~ Inc bank Third. there = nor "hv,S
be any dividend to the depost'Is o'io'e ''' ~
of August .,,.. oc,-l,ass Of marty. regret
,bc affion of the House of Keliesental'Nrs -, H..
da,. IN voting down the proposed am, So.
Cnns;,ntion providing for plurality eiec'o" % 0'"'