New-York tribune., 1898-11-16
JAS. NACNAT TGHTAN A BANKRUPT
FILES PETITION SHOWING LIABILITIES
OF N.l2s $50 NOMINAL ASSETS SfI@l.

FILES A PETITION SHOWING LIABILITIES
OF N.l2s.53o-NOMINAL ASSETS, S4I921
Janoa Macnaushtan. late president OF the Trades
mems National Bank. Of No. 26 West Broadway
filed a petition in bankruptcy yesterday through
his attorneys Blumenstiel Hirsch. The scheduIes
show known liabilities of sl.l29530 and nominal as
sets of Sl7s2l principally his interest III shares
Of stocks Of various corporations in Which ne was
Interested pledged as collateral for loans Blumeh-
s,,e e. Hirsch said that the petition was brought
ahout by the fact that the New-York Wool Ware
house Company went into the hands OF ieco'Nei
and the Tradesmen's Bank went into the hahus q
the bank examiner. by reason Of which securlues
which thesc Institutions held. as well as securiu.S
held by other banks trust companies ana moi
viduals became impaired in value lie has large
equities in these securities. which. when they can
he realized on VIII be distributed among the cred
iiors.
The following are the creditors: Estate OF Edwin
+ Knowltor Brooklyn, 10000. money advanced on
TWO notes OF $4,000 each made by the petitioner
ard indorsed by Allan Macnaughtan. on one OF
which $1,000 has been paid. secured by 2l24 shares
Tradesnons Bank. par value Ssisoo' ~ shhieS
Wool Exchange. par value S29"H; j." shares MAJ
uauChtan Company. $4,000; so shares Ne"-lorh
Wool Warehouse Company. $4,000; total collateral
$500 Of which the petitioner has three-hfths
interest and Allan Macaaughtan two-ffths inter-
es, Russell Sage $4,000. money advanced on a
note Of the petitioner. Endorsed by Allan Mac
naughtan secured by % shares Tradesmens Banl''
sa oo: 900 shares Woo Exchange. $4,000; 200 shares
| New York Wool Warehouse Company. S2oVO' total
5000 Petitioner has three-ffths interest In the
J securities Hamilton Trust Company. OF Brooklyn,
! 5000 money advanced on a note Of Allan Mac
! naughtan and petitioner jointly. secured by 90
shares Wool Exchange. $500: COL shares New-fork
| Wool Warehouse Company, S65l1 total $l"lV
Petitioner has threeffths interest in the securities
! Peoples Trust Company. o' Brooklyn 5000 lot
| on NO o
| dorsed by Allan Macnaughtan. secured by oo
| shares Of the Macnaughtan Company. YoVW' llW
shars New-York Wool Warehouse Company. sIo-
800; total N70Sco Petitioner has three-ffths IN
terest in the securities. North American trust
Company $1,000 money advanced on n note OF pc
titioner secured by 476 shares Tradesmen's Bank
sI9I2O Petitioner has three-ffths interest In the
| securities. John W. Chapman $1,000 money ad-
vanced on two notes made by tho Macnaushtan
Company indorsed by Allan Macnaughtan and
guaranteed by petitioner no security. National
city Bank OF Brooklyn. 5000, money advanced on
note Of the Macnaugh;an Company. indorsed by
| Allan Macnaughtan and guaranteed by petitioner.
! Oriental Bank. 5000 money advanced on note
Of he Macnaughtan Company. Emeline Mac
naughtan. 10000 money advanced on note OF
! New YORK Wool Warehouse Company. 1855 400; pc
titoner Is liable to the company for notes 10 that
amount Of which James and Allan Macnaughtan
pany for stock Of the Wool Exchange Of par value
5000 delivered TO the Messrs Macnaughtan' ana
! also for money loaned TO them jointly by the com,
/ pany. Macnaughtan COMPANY. SSlSo Tor WOOL
! sold and money advanced to James and Allan Mac
/ naughtan Jointly. upon open ac 'ount and upon
! notes made by them Jointly. Tradesmens National
! Bank. amount due unknown. The petitioner was
/ liable as maker or indorser upon notes held by
the bank. for which the bank held collateral Sc
| curity and on SeDtembcr l6 agreement was
! made by James and Allan Macnaughtan and the
! bank whereby they transferred TO the bank the
/ said securities and the bank agreed not TO insti-
/ gate any action at law on the notes. and when
: the securities were sold they would make up any
! defcicncv The securities have not yet been sold.
and the petitioner is therefore unable to state the
II fc HDh IN
contincently liable TO The bank ndorscr Of TWO
notes for 81 COL made by j. W. Scot; and discounted
by the bank. -
! Mr. Macnaughtan's assets consist OF an undivided
three-ffths interest in the abovementoned securi-
Ties held by various creditors collateral also his
/ interest in l5O shares OF the NewYork Wool Ware
/ house Company. par value $1,000; his share. 5000.
held by the Chemical National Bank for the la
bili,y Of Allan Macnaughtan on notes indorsed by
him and held by the bank; salary for October as
president Of the Wool Exchange. sS2S. and claim
/ against the Tradesmen's Bank for balance Of
| money on deposit there, the amount not mentioned.