New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-18
rur RECEIVERS BUSTED.
MEN NAMED TO SETTLE THE
,p.y HILL BANKS AFFAIRS.
.,.-,cr prcKEr DECIDES THAT THE MEN AF-
-rp BY JUSTICE PRYOR HAVE NO
,,our TO ACT-THE ATTORNEY
GENERALS ACTION TAKES
PRECEDENCE.

PRECEDENCE.
mickey. Of the Supreme Court IN brook-
Jusu'es down decision yesterday holding that
IN hS''S us appointed by Justice Pryor IN New
The re- weeks ago for the Murray hill Bank
YcrS - r,sht 10 act; that the action brought by
have ~ 81 the bank TO dissolve the corpora
the oHe ~, IN good faith, and that the action be-
ton wa va then by the Attorney General takes
gun 's,orce In this action Justice Dickey APP
the pe,,,,ard IL Hobbs. Of Brooklyn. and Ben
poinseu oaou ir Of Newburg, temporary re-
jam with bonds in Scom
oti'e'" ols ago William NJ Stvers, Charles II.
s% bernhard Metzgar. Robert O. \. ford'
heD,-aNor and Philip Diehl, comprising major
Ia~ 10 directors of the Murray Hiil banh'
~ c, ., action in the Supreme Court In this
bV's s,ssolve the corporation ana obtained tne
oU ..,ert Of Spencer Trask and Miles NJ. . hrieh
sppoh receivers A short time afterward
. .~ev.General Hancock began an aV"o" ~ u'
Auo'H.' tork corporation. alleging that the acuon
solve u, ,,rao,o 6 was unauthorized. and was IN
Of wv -. obeod Of the State authorities unlaw-
tsno0 -. A,tornev-General made application 10
i@p' mickey. sitting in Newburg Tor the APP
JS'uV - temporary receivers of the bank ana
p"i'"'> r;crev handed down HIS decision yester-
day He says ,,a nrov,s,ons Of the Code Of
II sem pacedurc as to the voluntary ossoiution %
CivA .Jons and the banking law reaa toseo ~
ocIpS,. in5icate ia cases where the nonaye
GEAR nornoration are deprived OF their paLs
banking g, ,re sct OF tho Superintendent OF bahks
men c possession Of the funds OF me roeb their
the people C Q. representing the interests or az
Aonan1ccd should maintain the aSu sr. cornora
winding ~, Va .bey have exclusive right 10 90 so
non. az s not so any directors can .. enI, Ssfsoe
i THIS i H"s he Attorney General enurelN oele,.
the acton ~, " ~ the Banking act and reh1eI an.
the provSC rs provisions absolutely OF no Iorcv 81
So The statute requiring ne snnerintendent TO
under the eceeSings means something. IL appea.
insmut ro1n the afdavits FLED that ~ ,IS r about
10 me lI i,ev that the State authorizes WeIe ~"
dir'stoIs This action 10 dissolve the corporauol
10 mn Inc action they did IN an ello,t ~, ,Set
and loon fhorities As am OF the OPINION tnat
ahead W AZ the time they petitioned 10! ~
ne rocy Of receivers in tho proceedings
med by them. were not HIec'V, ,ornoration. but
sgeneb orn of all duties Of management 10y ,rs
ssvved by the Bank I'm sank am necessa-
ses nelled to hold that the appontmse. oi and
d ~, IN that proceeding has no piu an5io1
levers should be appointed N ' IIolhs Of Brook
RS therefore appoint Edward H. H9Dos ~ as
vn and Benjamin j.. Oqen, l'' a. IN Inc sum
n ~, receivers; bond 10 be given III TIC '
Of 10000 ~. ,o,,oo+,on show
The napers submitted IN the apphcauoh INV y,
80. Ao ha,k &c insolvent Its capital STOCK Is
rnn,o &, . 90 shares Of $50 each. the S'a'e o"p'
',a,5ant Of Banking took possession oh NSe
ard closed the doors They have remained ciosou
49, s,rce then. The bank had more than seVe"
k~r1 r.H
ovine 10 depositors and other creditors
.. ,ora than $4,000. and the assets DO not eN-
..a g opc 90 Il is said that $3.50" OF the asSe ao
1--we been pledged AS security Tor ioa" "a 49,
tim the Bank Of Commerce siatenein az os fol-
,onsrtv of the bank and money que s 900 90 Oh
lf S;vei nv the First National Bank 49, NJ ~
.o"s Scr Avenua Bank $4,000 bills reGeiNaoies
!. .7 l Of siC0coO held by the National ban
cmnerce TO secure loan OF SoOVO aa. SiIis
~ 49, actual value not exceeding $500 Com
'sceyab in 10000 pledged 70 me t sadhA he Muir
y Bl Bank has an equity Of 5000 specia dam
~ 729 second mortgage property IN ans ,,,o
90 90 81, second mortgage in the non!iISSr ~
r5cO on property IN IN seventy
soSr,S-si 5000 one-ha interest IN PFopTb5 r.
Syssc.ie e. 900: three lots in Twenty-i ,. r.
., 20. nrtv in stocks and bonds pledged WIN ~
Sank Of Commerce for $40 Loan 800; ,s.t We
S,Ssrn Railway bonds at 80. S4VN; sene' -, !,
sSsfss southern Railway stock at 20 No4 so cj:
N,ssorri Kansas and Texas bCnos AZ ~, 20 =
sonds ~ me Bavarian Star Brewing COMPANY P
ysjgs 81 600 practically worthless 49, x,,,b the
The receivers bond was FLED YESTERDAY " Nh
-snn,v clerk Of Kings County by Robert NJ, NJ of
s.rt Of the Fidelity and Deposit Company "a
Maryland