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COURT IN EQUITY-Judge - Olin.-Stackpole vs. Stackpole. Order granting leave to amend petition. Jones vs. Stringfellow. Order to tenants to deliver possession to purchaser. National Bank of the Metropolis vs. Sprague. Order for notice of application for the appointment of a receiver and for an injunction. :
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EQUITY COURT-Judge Olin.-Purdy - et al. vs. Surratt et. al. Order to trustee to pay over balance to administrator de bonus non, in Prince George county, Maryland. In no., Susan Glover. Order for writ de lunatico inquirendo. Mary J. Selly vs. Jas. W. Selly. Order to file amended petition. National Bank of the Metropolis vs. C. C. Sprague al. Order appointing Messrs. N. Wilson and Jno. F. Ennis receivers, with authority to sell the lease and furniture and other property belonging to the Kirkwood House.
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NATIONAL BANK OF THE METROPOLIS AGT. C. C. SPEAGUE AND OTHERS-Yesterday, 1 Judge Ulia appointed Jonn F. Ennis and Na. thaniel Wilson receivers in this case, with autherity to take possession of the lease, furnitare, &c., of the Kirkwood House, on giving bond in the penal sum of $50,000.
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THE KIRKWOOD House.-Yesterday afternoon the Kirwood House was closed, and the receivers recently appointed by the Equity Court in the case of the National Bank of the Metropolis agt. Sprague et al., (Messrs Ennis and Wilson,) left the building in charge of W W. Kirby until the day of the sale. The boarders were informed of the intention to close yesterday morning, and after dinner there was a hasty vacation. Sprague, it appears, while proprietor of the hotel, borrowed $65,000 from Mr. Hutchinson, President of the Bank. and subsequently sold the lease of the hotel and effects to Mr. H. H. Dudley Suit was brought against Sprague, Dudley, and others, and other creditors holding deeds of trust also came into Court asking relief. The Court appointed receivers as above, and they will now sell the lease and effects and turn the procee is into Court subject to the final decree. Mr. Dudley has taken an appeal from the decision of Judge Olin, and it is expected that the case will be heard by the Courtin General Term tomorrow.
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at a premium. It will be a first important step towards a resumption of specie payments by the government and by the pecple. Congress would be compelled to redeem or fund the greenbacks as fast as a legal medium of greater value could be supplied. The difficulties of trade, it is be. lieved, would be less than is generally anticipated. The banks would be most exercised. Such as could open* specie accounts, and issue notes upon a specie basis, would probably do so at once, and this would gradually drive the others to adjust their business and circulation to the same standard; but in all this the difficulty would not beserious. With each one handling money doing his part towards adjusting prices to values, the whole labor 80 divided will be scarcely felt, and all will be, in a short time, surprised that a remedy 80 efficacious in results should have been so long feared and delayed. Whatever the judgment of the the court as to the lega:-:ender law may be, the evil will not be of the onerous character feared." The Court of Appeals of Maryland has decided that where a contract is made to pay in gold, legal tenders will not discharge the legal obligations of the debtor in other words, he must pay in gold. The National Bank of the Metropolis, of Washington, D. C, went into voluntary liquidation three years ago, with $400,000 of United States bonds deposited with the United States Treasurer to secure the government deposits of over half a million of dollars. This bank has now no office known to the treasury, yet it draws, through some means, semi-annually, the gold interest upon these bonds, and upon $202,000 of bonds deposited to secure $130,000 circulation. This drain of over $50,000 in currency per annum from the United States treasury is likely to continue ad infinitum. The Comptroller asks for no legislation to stop this leak, nor does he allude to it in his report. One hundred and fifty thou sand dollars has thus been drawn from the government treasury since the suspension of the bank, and this while it owed the government over half & million of dollars. Mr. Hulburd asks for legislation to enable him to sell the bonds of a bank deposited to secure circulation after it closes its business, and pay over all but enough to redeem the outstanding circulation, but nothing is said about selling bonds to pay the government back its deposits when the bank is unable to respond to the calls of the United States Treasurer or other United States officer.
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THE COURTS. CIRCUIT COURT-Chief Justice Cartter.-This court was occupied as follows yesterday: THE BANK CASE. Kennedy, receiver, vs. the National Bank of the Metropolis. The jury in this case found a verdict of $20,000 for the plaintiff, and thereupon the defendant moved for a new trial. Falconer vs. Hines. Judgment by default for $195 for rent due. Clark vs. Hell. Judgment by default for $134. United States vs. Pettibone. Case called and jury respited till Saturday, Rees & Milliard vs. National Bank of the Republic. Motion for new trial overruled. Adjourned. THE EQUITY AND THE CRIMINAL COURTS did not sit yesterday.
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This court was occupied as follows yesterday: ATTORNEYS ADMITTED. On the motion of Mr. Davidge, Mr. McCarty, of New Jersey, and Mr. Tracey, of New Jersey, were admitted to practice at this bar. Clark VS. White & Hanly. Order made on plaintiff to employ new counsel. Cavis (use of McGill & Witherow) vs. Charlotte Nugent. Judgment on inquisition of a jury in case of judgment by default for $105. Kennedy, receiver, VS. National Bank of Metropolis. Motion to quash attachment sustained. Hiram Brower vs. Robert P. Todd. Judgment struck out as erroneous. Hutchinson & Merrill vs. William S. De Zeng. Motion for new trial overruled. Richmond and York River Railroad vs. National Bank of Metropolis. This is a case of very considere ble magnitude, involving over $100,000. The Messrs. Merrick and Bradley of this city, and Tracey, of New York, are for the plaintiff, and Messrs. Davidge and Wilson, of this city, and Tracey, of New Jersey, for the defence. A motion to suppress an ex parte deposition of Hutchinson, cashier of the bank, on account of a deficiency in the certificate of the officer taking the deposition, having been overruled, the case was adjourned until this morning. J. Catter & Co. vs. Malichi Yateley. Judgment for $252.50 for balarace on a merchandisc account. Adjourned.
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NEW YORK. Counterfeit Bank-Notes. NEW YORK, February 3.-Two-dollar counterfeit notes on the- First National, Ninth National, Marine National, National Shoc and Leather banks, and the National Bank of the State of New York, and the National Bank of Commerce, are in circulation. They are well executed and well calculated to deceive. Bank Suit. NEW YORK, February 3.-The State of Tennessee is plaintiff in a suit which is being tried before Judge Van Brunt to-day in the Supreme Court. The defendants are Fairbanks Brothers, stockholders and directors in the National Bank of the Metropolis, Washington; Mr. Hatch, the treasurer; and Mr. Davis, the attorney for the bank. The allegation is that in 1864 the firm, which became indebted to the National Bank of Memphis. Tenn., for $66,000, deposited bonds in the National Bank of the Metropolis as collateral security for the debt, and the bonds were sest to Davis by Judge Sherman, a Washington hawyer, accompanied by a letter. The Bank of the Metropolis went into liquidation in 186G, and the Memphis bank failed in 1867, and a receiver was appointed. The Attorney-General of the State of Tennessee applied to the Controller of Currency in Washington to have the debt collected for the Memphis bank, but he refused to take any steps in the matter, being influenced, it is alleged, by the representations of the defendants, who deny the indebtedness. The case is likely to occupy several days. Items. NEW YORK, February 3.-The cigarmakers who lately struck for an increase of wages have resumed work, their bosses effecting a compromise. The strike of clothhat and capmakers still continues. Some of the bosses have acceded to their demands, but they refuse to resume work till all the bosses do so. A further discrepancy has been found in the accounts of H. Gill on the tax account of Brooklyn. A warrant has been issued for Gill's arrest. but it is stated that he has left for parts unknown. William Adams has been sentenced to eight years in the penitentiary for robbing and stabbing Mr. Finch.
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THE COURTS. A TENNESSEE CLAIM. SUIT AGAINST THE DIRECTORS OF THE NATIONAL BANK OF THE METROPOLIS, WASHINGTON. A suit involving large issues has just been begun in the Special Term of the Supreme Court before Judge Van Brunt. The parties to the suit are the State of Tennessee, plaintiff, and Fairbanks Bros., (Theodore, Horace and Franklin) stockholders and directors in the National Bank of the Metropolis, Washington; Wm. B. Hatch, Treasurer, and Theodore M. Davis, Attorney of the Bank, and Lucius Chittendon, defendants. The complaint is that in 1866 a firm doing business in this city became indebted to the National Bank of Memphis, Tenn., in $66,000, for which they gave collaterals in the shape of bonds. These were forwarded to ex-Judge Sherman of Washington, who by direction of the Bank sent them to Mr. Davis, the Bank attorney, with a letter directing him to deposit the bonds in the National Bank of the Metropolis to the credit of the Memphis Bank. Two months later the Washington bank went into liquidation and the following year-1867--the Memphis Bank failed and a receiver was appointed. The Controller of the Currency was applied to in Washington in aid of the collection of the debt for the National Bank of Memphis, but he refused to do anything and there is an allegation that he was influenced through the representations of the defendants, who deny the indebtedness. The complaint further alleges that when the National Bank of the Metropolis went into liquidation Davis, by direction of the other defendants, collected the money on these collaterals and applied it towards the liquidation of the debt of the Washington bank, which owed $600,000 to the United States. In the answer of the defendants Davis admits that in 1866 the Washington Bank owed the Memphis Bank $66,000, and that collaterals were deposited to the credit of the latter in the National Bank of the Metropolis. He also admits the facts sworn to in the complaint in regard to the failure of both banks, but there is 8 denial that the debt of $66,000 existed then. Davis denies, also, that he himself ever received the collaterals as charged in the complaint, or that he applied any moneys of the Memphis Bank toward liquidating the debt of the Washington Bank. The answer by all the other defendants 18 a general denial. Alexander F. Weaver, the bookkeeper of the Washington Bank, was the first witness called yesterday, and he testified in reference to the financial condition of the bank at the time the cause of action arose. The various counsel employed in the case are Brownell and Althrop for the State of Tennessee: Dunning, Edsail & Hart, S. J. Storrs, and Grosven or J. Hubbard for the defendants.
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The Stockholders and Directors of the National Bank of the Metropolis, Washington. A suit involving large issues, says the New York Tribune of the fourth instant, has just been begun in the special term of the supreme court before Judge Van Brunt. The parties to the suit are the State of Tennessee, plaintiff, and Fairbank Bros. (Theo. Horace and Franklin), stockholders and directors in the National Bank of the Metropolis, Washington, William B. Hatch, treasurer, and Theodore M. Davis, attorney of the bank, and Lucius Chittendon, defendants. The complaint is, that in 1866 a firm doing business in this city became indebted to the National bank of Memphis, Tennessee, in sixty-six thousand dollars, for which they gave collaterals in the shape of bonds. They were forwarded to Ex-Judge Sherman, of Washington, who by direction of the bank sentthem to Mr. Davis, the bank attorney, with a letter directing him to deposit the bonds in the National Bank of the Metropolis to the credit of the Memphis bank. Two months later the Washington bank went into liquidation, and the following year, 1867, the Memphis bank failed and a receiver was appointed. The comptroller of currency was applied to in Washington in aid of the collection of the debt for the national bank of Memphis, but he refused to do anything, and there is an allegation that he was influenced through the representations of the defendants, who deny the indebtedness. The complaint further alleges that when the National Bank of the Metropolis went into liquidation Davis, by directions of the other defendants, collected the money on these collaterals and applied it toward the liquidation of the debt of the Washington bank, which owed $500,000 to the United States. In the answer of the defendants Davisadmits that in 1866 the Washington bank owed the Memphis bank $66,000, and that collaterals were deposited to the credit of the latter in the National Bank of the Metropolis. He also admits the facts sworn to in the complaint in regard to the failure of both banks, but there is a denial that the debt of $66,000 existed then. Davis denies, also, that he himself ever received the collaterals as charged in the complaint, or that he applied any moneys of the Memphis bank toward liquidating the debt of the Washington banks. 1 he answer by all the other defendants is a general denial. Alexander F. Weaver, the book-keeper of the Washington bank, was the first witness called yesterday, and he testified in reference to the financial condition of the bank at the time the cause of action arose. The various counsel employed in the case are Brownell and Althrop for the State of Tennessee; Dunning, Edsail & Hart, J. Storrs, and Grosvenor J. Hubbard for the defendants.
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XV. The bank struggled along for eighteen mouths after the robbery. and then failed. In the mean time Martin resigned, and Stevenson was elected President. The failure was announced Dec. 13, 1871. and Theodore M. Davis WAS appointed receiver. Davis formerly lived tn the West, but by political or other influence managed to securethe appointment of receiver of the National Bank of the Metropolis, at Washington, D. O. This bank failed in 1866. It was rotten to the core, and many persons suffered severely by its failure. The misdeeds of its officers have never been fully known, because the Treasury Department and a Republican majority in Congress prevented any inves-