The New York Supplement Volume 155

The New York Supplement Volume 155

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1916 edition. Excerpt: ...in the Assurance Society to the extent found as to each of them 1 With the general conclusion reached by the court as to the illegal, wrongful, and fraudulent acts of the defendants, subjecting them to liability, we fully agree. It is therefore unnecessary to do more than to indicate the particulars in which we think the judgment appealed from is incorrect. The first of these is the amount of the loss found to have been sustained by the two corporations in question through the defendants' acts. The court has found this amount in the sum of $39,500. This represents $38,500 paid to the Manhattan Dock Company on July 10, 1907, and $1,000 paid to Chase Andrews in August, 1907. As to $20,450 of this amount there can be no question, for that was the amount of the society's balance in a trust company on that date, and paid over in the transaction in which the money was fraudulently wasted and ultimately lost. In addition to this $20,450, which concededly was the only cash the defendant corporations then had, and which money was in the account of the Columbia Life Assurance Society No. 2, there was also paid over in the same transaction $17,050, which represented $13,000 furnished by the defendant Earl on the demand note of the Underwriting Company, and $4,050 furnished by defendant Mortimer on a similar note. This $17,050, added to the $20,450, makes the total of $37,500. It does not clearly appear where the remaining $1,000, representing the difference between this amount and the total of $38,500, which the court has found to have been lost by the Dock Company payment in question, came from, although it may have arisen from some confusion as to a balance of $1,500 for which the Underwriting Company is apparently liable, being the balance on a...show more

Product details

  • Paperback | 748 pages
  • 189 x 246 x 38mm | 1,311g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236751701
  • 9781236751706