The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1903-11-26
MR.. WHITLOCK'S ESTATE.
HEARING ON THE CLAIM OF THE
IMPORTERS
And Traders National Bank OF New
York.


York.
| Bridgeport, Nov. ga hearing on the
admission of claim of the Importers
and Traders National Bank of New
York for S44,667 against the bankrupt
estate of Former State Senator Sturgis
Whitlock, Of Shelton, was held before
John W. Banks, referee in bankruptcy,
yesterday.
The claim is based upon an alleged
agreement made by Timothy Cohalon,
Elmore d. Alvord and the Corporation
Finance company of New York withthe
Knickerbocker Trust company, by the
terms of which Cohalan, acting for an
undescribed principal, alleged to be
| Whftlock, were TO run over the Cor
poration Finance company, stocks,
bonds and other securities of the al
legged value of eight hundred and fifty
thousand dollars to pay the creditors Of
D. Leroy Dresser, of New York. By the
agreement further, they were to furnish
the Knickerbocker Trust company with
eight hundred and fifty thousand dol
lars in cash, and il the money were not
forthcoming the Knickerbocker Trust
company was to demand the securities
which were then to be turned over to
the trust company and the latter was
to sell them to pay the creditors of D.
Leroy Dresser and Dresser. & Co. ..,.
The right of the Importers and Trad
ers' National bank to put in a claim
against the estate of Whitlock is based
on the fact that the bank was an al
legged unpaid creditor of Dresser. For
the bank it is claimed that the agree
ment already mentioned contained q
clause binding Cohalan and Alvord and
the Corporation Finance company as
individuals and that. as Cohalan and
Alvord acted for Whitlock, he is bound
by the agreement and may be held for
| the amount due to the bank.
Attorney Abe Grueber, of New York,
appeared for the bank, and P. w. Chase,
of New Haven, and George E. Hill, of
Bridgeport, in behalf of Mr.. Whitlock
| and interested creditors.
Counsel for Whitlock contended that
the agreement showed a past condi-
| ton; that the stocks and securities were
turned over to the Corporation Finance
| company, and that ended the response
biity of Alvord and Cohalan and their
undescribed principal. Ad hitting for
the sake of argument that Mr.. Whitlock
was the undescribed principal, said his
counsel, he was not further responsible
| for Dresser's debt because the securities
were given to guarantee the money.
The claimant, 1t was argued, had not
established under the agreement which
was submitted as an exhibit, any right
for considering. the. claim of the Impor-
| ters' and Traders National bank. 1t
was commended that under the agree
ment the securities were responsible for
the payment of the debt Of Dresser, but
that Cohalan and Alvord and the unde-
scribed principal were not financially Ii
able after the terms of the agreement
had been fulfilled. m:.. ....s......
After arguments occupying about an
hour, the opposing attorneys agreed to
submit briefs by December 3.
There are said to be other claims
against Dresser amounting to two hun
| dred thousand dollars, for which Whit
| lock may be considered liable under the
agreement if the present claim is ad-
mitted.