Arches at Glendalough 2009

Thursday, August 8, 2013

Job Tabor/Taber’s Bankruptcy Record

Before delving into the records I wanted to see, the archivist in the NARA research room explained about the 1800 US Bankruptcy Act. The sole purpose of the act was for district justices to review, administer, and oversee bankruptcy cases.  This act allowed creditors to go after merchants. There had to be two thirds agreement with all creditors and forced merchants into bankruptcy. With a sunset clause of five years, it created corruption and excessive costs and was repealed in 1803 by Congress.  The Federal Judicial Center in Washington, DC has an online timeline which gives a brief synopsis of the 1800 Act and history of bankruptcy in the US.

It was in this time period which Job Tabor faced bankruptcy. In Box 10 of 11,  his papers included oaths of executing bankruptcy, accounts from firms in New York City, receipts for bankruptcy, and accounts of debt. It seemed to me that many New York City merchants used Tabor and Tripp to act as agents. It also included information such as Captain Thomas Wilson sending goods to Tabor and Tripp. It included notes paid by others to Captain Wilson and came from places like New York City, Hartford, New London, Providence, Newport, and the Washington Insurance Company. Bills due for James Rogers- twenty-six shillings and six pence due March 1799, Caleb Greene of Newport, Olcutt of Hartford , New York merchants Thomas Pearsall and sons, Isaac Caraw, William Bache, Thomas Chew; and New London merchants John Deshon, Jared Starr, and Lathan (probably Latham)  Hull were all included in the bankruptcy proceedings.

An affidavit by Peter Richards of New London swore that he saw General Jedidiah Huntington sign his name on a certificate purporting his consent that Job Taber and Stephen Tripp be discharged of his debts. It was signed in front of Mr. Jon Tripley, Commissioner on April 14, 1803. (It would be interesting to see if this date was before or after Congress appealed the act!)

A receipt from Mr. Michael Huntley to Taber and Trip in 1803 listed: July 15- 1 pair of stockings worth 0.75; July 29- 1 box worth 0.33, July 31- one blanket valued 2.33, February 7- 251 (?) cheese at 5 (?)  worth 17.42 for a 20.83. The value of this note was in dollars. Taber and Tripp also wrote a promissory note to Michael Huntley “for Twenty-four dollars and thirty-five cents with interest from November 24th being the balance of wages on board Brig Minvera_New London, December 4, 1802.” It also included a notation of $24.35-20.83=$4.52 balance allowed.



1 comment:

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