Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-03-12
$4,000 ALLOWED
LAWYERS IN SMITH
BANKRUPTCY CASE
Referee Adams Reduces Re-
quest for $7,5oo-CalIs Re-
ownership Hard One.

Referee Edwin G. Adams today Is
sued an opinion on the $500 allow
ance asked for by Attorneys Harold
| Remington and George Furst. as
counsel for the petitioning creditors
who threw Raymond e. Smith. indict-
| ed treasurer of the wrecked Roseville
| Trust Company, into bankruptcy. The
referee awarded $4,000 to Messrs
/ Remington and Furst, and announced
| that the receiver. Wilfred C. SRoszel
would be allowed his commissions,
amounting to SS1794.
The memorandum of the court on
the application which met with
strenuous opposition eat the hearing
| yesterday is as follows:
1.-THE services required of and per-
formed by the attorneys of the
petitionng creditors in this case have
been of a character far different from
those required in any other case that
has come before me- The bankrupt
threatened and offered determined
opposition to an adjudication. Against
this opposition there was required an
unusual quality of ability and indus
petitioning creditors. An adjudica-
ton of Smith as a bankrupt was
necessary, in order that his estate
might be equitaby distributed among
all of his creditors, instead of having
the attaching creditors paid in full to
the detriment of the III, crests of all
other creditors The bankrupt's af-
fairs We're so involved that a vast
amount of labor was required to
estab lish both the exceedinly techni-
cal act of bankruptcy alleged and the
insolvency of the bankrupt
1.-THE transactions of the bankrupt
with the Roseville Trust Company
were the most important factors in
the case against Smith. These trans
actions We're so almost hopelessly in
volved that ii required persistent and
intelligent investigation to sift out the
evidence which should be conclusive
enough to establish the case neces-
sary for an adjudication. The bank
rupt had filed a sworn answer deny
ing that he was indebted to the trust
ing his insolvency and denying the
act of bankruptcy charged The dill
gence, industry and ability that were
brought to bear upon the preparation
and presentation of the case on the
law and the facts were acknowledged
by the determination of the bank
rupt's attorneys, after several days or
hearings, to abandon their opposition
and consent to the adjudication.
Subsequent events have shown thar
the adjudication was essential to
fair distribution of the estate among
the creditors.
II am filing this memorandum in
order that the record may contain o
brief statement of the reasons why
an unusual allowance is made to the
attorneys of the petitioning. creditors
in this case. The character and
amount of work involved Is revealed
to a considerable extent In the record
of proceedings before the special mas
ter but was exhibited also IN the
arguments occurring during the hear
ings on the questions of admissibility
of evidence, etc, many of which argu-
ments do not appear in extension on
the record.
"In the making of allowances to at
torneys in bankruptcy proceedings
| the rule generally recognized Is thaf
| the elements to be taken into consid-
Grafton are the time properly required
to be spent on the controversy, the
intricacy of the questions involved;
the amount involved; the strenuous
ness of the opposition encountered
the results achieved therein. as well
as the policy of the bankruptcy act
toward economy in administration.
Taking into consideration all of
these matters, | have concluded that
a proper allowance to George Furst
and Harold Remington for their SER
vices in this matter as attorneys for
the petitioning creditors would be the
sum of three thousand dollars.
1.-THE receiver will be allowed COM
missions IN the sum of eight hun
bred seventeen dollars and ninety
| four cents.
(Signed) EDWIN G.. DAMS,
Referee in Bankruptcy"