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New-York tribune. (New York [N.Y.]) 1866-1924, January 11, 1913, Image 2

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money that has come togeth *r
more ??r le?? <..m-entrat.il." repli?
Maker, after a paus?-.
Admits Great Mergers.
"There have been great merge
financial ins? itutlons, have there
asked Mr. I'ntermyer.
"Yes. sir."
Mr. I'ntirmyer reviewed some I
recent combinations of financia
Btltutloat in New York.
"And thirre have been a great
ber of those consolidations in diff
parts of the country?" he continu?
' Y?-.--." Mr. Rak.-r responded.
Mr. Fntcrniver asked Mr. Bak?
t.? a '.hange of policy" on the pa
banks within th? last ten yens
mg toward the combination or ce
of financial institutions. Mr. I!
si?id be ii.nl been concerned in con
ing some banks and knew of i
other combinations, but knew o
i-ompb-te change of policy In that
ii?-?tioii.
This is a s??-?*! of concentration
lias beiii going ?m of late years
sideral?!... has it n??t. in very 1
amounts?" asked Mr. I'ntermyer.
"I doubt it," said the witness
Mr. ?Baker ? rouM not say in do
boat much lie had bean a party to
( oncentiati.in.
"'! suppose v.ni would see no bai
said Mr. I'ntermyer, "in having
control of eredlt as represented by
' ??r.ir??l of banks and trust compa
Mill further concentrated'' Do
think that would be dangerous?"
Mr, Baker pondered th.? ?jucstlon
a time and then answered:
"I think it has gone about
enough."
The Raker lawyer?, sitting near
sat up in their chairs and looked
tercsud.
' You think it would be dangeroui
go further'.'"
"It might not be dangerous, but sti
has gone about far enough. In g
hands, I do not say that it would
any harm. If it got into bad hand
would be very bad."
"If it cot into bad hands it wo
wreck the country?" demanded :
Untarmysr.
Doesn't Fear Bad Hands.
The Bfksettetors iist?:i?-.i eagerly to ca
fhe reply, and Mr. Baker l?*aned bl
in lits ? hair. I.is chin renting on his ha
watching the lawyer closely. Final***
said :
"Yea: hut I do not believe it could
ii.t<? hud hands."
'You admit." persisted Mr. Fntcrmy
"taki If this concentration to the pe
to which it has n?iw gone were by a
accident to get Int.. bad hands it woi
wi*-<k tin- country?"
?| cannot Imsglne sucn a sltuaiioi
protest??.! the witness.
I thought y.m said so."
"I said it would be bad, but I do r
think '*? would wreck the country,
do not think bad hands could mana
it. Thay could not r?tain the depoai
nor the ??cunt???."
"1 am not speakliiK of iBCOmpOt?
i :iTi?ls," said Mr. I'ntermyer. "We a
i- .kind of this concentration which h
about, and the power that H brin
with it. getting into the hands of ve
,iiiTt>ltl.'?t>- men, pertaspa not overscrup
l??i:s. You ?see a peril in that, do y.
'""
Yes." answered Mr. Baker.
that the safety. If you think the
Is .my safety in the situation, retiily !!<
in the ?icrsor.tie! of the men?"
' Very mi
"Do you think," demanded the lawya
"that ?s a comfortable situation for
great country to be in?"
?Not entirely," said Mr. Baker v?r
?lowly.
At this pdlnt Mi. T'ntermver abrupt!
< lo>?tl th?- ?-xainination.
??That will be all. Mr. Baker." he sai?
and the spectators sat back with a sIrI
Ah U?e committee adjourned until BS1
Tuesday the witness, rising In his plac.
thanked the members and their couns?
for their courtesy, and was in retur
thank??! for testifying. He and his part
left Immediately for the train that wa
i" tak? them to New Vork
In a Financial Triumvirat?.
Bsrly in the day, In the midst of i
wordy ?li?1 IMStOB of bond issues of mill
Ions and the intricacies of high riruuici
Mr. I'ntermyer tried to connect Mi
Maker. .1. P. Morgan and James Stlllmai
in a financial triumvirate controlling hug
interests,
'Is Mr. Morgan recognized aa the gres
general of the financial army?" he asked
That i? according to whom you a?k,'
said the witness. "We, his friends, thlnl
he la."
"He is generally ?o recognized, Is hi
not?"
"Well, ye*." said Mr. Baker.
"And you and James Stlllman ar? h'.i
? hief lieutenants?"
'We were during *!.e panic."
And you three ?ioniinatt- the financia!
situation?"
Mr. Baker would not admit this, but h?
?aid that Mr. Morgan "would be th?
most dominant ?guie in the financial
world If he were younger," and that he
knew of "no one mote dominant than
Mr. Morgan."
Mr. I'ntermyer went over frith the wlt
1089 the flotation of securltie* by his
bsnk, and after considerable argument
with Mr. Baker's counsel he secure?! an
agreement that If the directors of the
l-'irst National Bank were willing. Mr.
Baker would submit to the committee by
nDxt Tuesday a list of the big transac?
tions In which that bank, J. P. Morgan
? to. and other large institutions had
acted jointly.
M-, Baker's Directorships.
When Mr. Baker resumed th? ??taad
curly in the day he asked permiaaion to
make a state-pent.
"You made me out such a great holder
of directorships yesterday." he ea!<! to Mr.
Intirmyer. "that I wlaii to say that I
never became a director or a voting trus
?<**? of any company at my own solicita?
tion."
"We have just begun to ask you about
vour directorships," said Mr. I'ntermyer,
who added that a Hat furnished by Mr.
Hakei'M bank showed that directors in th?.
?*?-??
COMMITTEE'S DOCTOR
TO SEE ROCKEFELLER
"Money Trust" Hunters Decide to Send Their
Own Physician to Report Whether Much
Wanted Witness Can Testify.
IKr">m The Tribun? Bureau.]
Washington, Jan. 10.? Unofficially r.d
vis.d ihat William Rockefeller is return?
ing to Hie United Stales from the Ba?
hamas, the pujo "money trust" Investi?
gating committee authorize?.! Chairman
Puje to-.Jny to engage a physician to
make an examination of Mr. Rockefeller
and report whether his physical condition
is such that it would be dangerous for
lilm to testify, as claimed by trie Rocke?
feller doctors in certificates il!?-cJ with
the committee.
The committee hat! determined to send
a physician to lbs Bahamas if necessary
to make an independent examination of
Mr. Rockefeller's condition.
Committee members declined to give
the name of the physician who will act
for Hie investigators. This precaution, it
was exn.'alncd, was due to fear that the
much sought witness might again avoid
an emissary of the committee. It Is
planned to have the specialist appear un?
expectedly wherever Mr. Rockefeller may
First National held eighty-eight director?
ships In other ?-o: poratlons. In thirty-sev?
en corporations members of J. P. Morgan
?v. io. and directors of the First National
Bank WOTS common director*.
Mr. Baker agreed to furnish a list of
the corporations in which he himself eras
a director. He thought he held about fifty
mi. h plsesa
Mr. Untermyer asked Mr. Baker If lie
could supply ;? statement of the eOCOUUte
by which th.? First National Bank. Jointly
with other institutions, handled through
syndicates issue? of eeeurtrJoa The wit?
ness eaid hi? eouueel had advised him that
to demand thla Information was beyond
the powers of the committee. The facts
were now known in detail by the Con- j
troller of the Currency, and he believed
the committee had no right to demand
them to be exposed to the public,
A long conference between Mr. Baker.
Fisher a. uaker and es besotee John ? '.
Bpooner, bis counsel, ended with a regUOtt
that the question be pUSSSd te allow coun?
sel to consider the legal phases.
A statement of the deposits of the First
National Hank was placed In the record.
Mr. Baker said he. believed the average
deposits were about |100.?3U0,0W. On No?
vember 1 the bank had lt? accounts with
balances of *29,S7?*?27 <*?
.Mr. BnkSt testified that the securities
turned over by the First National Dai.k
to the First SecnritlBS Oompony were
largely of companies in which he was a
director or a voting trustee Mr. Uri
t'-miver tried in vain to have him tes?
tify Umt Hie First Pecurltlos company
and the First National Bank were oper?
ated practically as a single concern.
The witness did not want to divulge
the price at which the S<'Ciirlties Com?
pany sold a part of its ChuSS Bank sto.?k
to President Wlggin of the Chase, ?nd
Mr. Untermyer did not press the ques?
tion. Mr. Baker said that despite the !
sale a practical control of the company ?
lay with the Securities Company an?) Mr.
Wlggin. He remarked that often a s ma'.'.
percentage of actual stock holdings in
Burid control of a large corporation.
Knew Little of Detail*.
T.oan operations of the Chase Bank and
the First National on the stock Fx? hange
were taken up. but Mr. Bak'.r knew
little of the details.
Mr. Cntermyer placed In the record
a statement to show that anthracite coal'
from the Pennsylvania fields was shipped
to the seaboard In the following propor?
tions by the railroads: Reading, .'l per
cent: Central of New Jersey. 13; Lehigh
Valiey, 17: Delaware, l-iekawanna *
Western, 15; Erie. 11: Pennsylvania. 9;
Delaware A Hudson. 10; New York, On?
tario & Western, 4.
counsel tried to bring out tnat Mr
Baker controlled or was interested in
ali except the last three roads. He asked
about the sale of the Jersey Central to
the Reading. Mr. Baker could not r?
member the details, but said that he sold
the Jersey Centra! to J. P. Morgan, who
was a voting trustee of the Reading
Mr. Untermyer questioned Mr. Baker
as to whether he was concerned In the
formation of Hi? "herd eoal trust,"
through the organleation of the Tumple
Iron Company, recently ordered dissolved
by the courts. The lawyer produced a syn?
dicate agreement forming the company,
signed by Mr. Baker, J. P. Morgan, EL
McK. Twombly, William Rockefeller,
.lames Stillman. Drexel A Co.. of Phlla
ileiphia, and the Guaranty Trust Com?
pany, of New York.
"you think that everything Is pretty
much all right in the world, don't you?"
asked Mr. Cntermyer.
"Yes, pretty much " .?aid the witness,
with a smile.
Mr Baker said he ?nd F. T. Ktotesbury
were voting trustees of the Cramp Sldp
bullding Company, of Philadelphia, and
had fdnce lSO^t named the directors of that
company. He was asked In detail as to
his a'tivltles in other corporation?, and
In several ca?e*> we?? unable to remember
them.
Where Bank Stock Went.
The sto.-k of the First National Bank
was lii'reaaed from I'.OO.OOO to 110,000,
000 in 1H01. Mr. Baker ?aid, and 40 per
cent of the increaeed ?tock went to In?
dividual? and the rest te the bank? stock?
holders.
'Who were those Individual??" asked
Mr. Untermyer.
After an argument with Mr. Baker and
his counsel, Mr. Baker answered : "Forty
thousand shares of that stock at 1.100 a
share were sold to me, and 1 later dis?
posed of it where it would do the mon
good "
"What is the pieaent price of the
stock?"
"About 11.000 a ?hare."
Mr. Cntermyer asked If J. P. Morgan
held 115.000,000 worth of stock in the
First National. Mr. Baker said he did
r-'
Bell and Wing
By FREDERICK FANNING AYER
Absorbing, astounding, inspiring, baffling.?London Academy
Power and originality.?Cork Examiner.
A grt-at work.?Boston Jeratd.
Marks of genius constantly.?Troy Record.
A wealth of Ideas.?Boston Transorlpt. '
Genuine aspiration and power.?Occult Rcvieic, England.
Near the ?tart*.?Portland Oregonian.
Astounding fertility.?Brooklyn Times.
A striking book of verse? Boston Pott.
Q. P. PUTNAM'S SONS, Publishers, N. Y. Price $2.50
be found and present his request *?r an
examination
"If tt is found by our physician." said
s eommltteeman. "that the diagnosis of
the Rockefeller physician?* is correct the
committee may relieve Mr. Rockefeller
from testifying. Tt is true that he is rn
old man, and It may be that he Is verv
111; but we -want to be safe on that petal
and dealN a report from n physician rep?
resenting ttie committee itself."
Kxcept for pre?? dispatches, the Pujo
investigators have no information con
, cerning Mr. Rockefeller's plans. He Is
suhp?iiaed to arpear on January IS. 989*?
' vl,*e having been flnallv tesapfOi bv John
A. Garver. his counsel. The member?
assume that Mr. OSTTST will either pro?
duce Mr. liockefell.-i- on thai data or
make some acceptable explanation of his
absence.
It is probable thai th? committee's
physician will meet Mr. Kockefeller at
Miami 99 BOSBS other point on the 8011th
I Atlantic coasi.
not want to discuss the "personal affairs
of Ms friends or himself."
It was at this point that Mr. Baker was
SSksd abSUt the standing of J. I?. Morgan
in the financial army. nn?l when he ?Ic?
eland the financier wouM be the leader
If h" were younger he Bddsdl
"There is no dominant figura in
finance now. There was during the
panic, but not since the disturbance."
"Can you give us the name of any Issue
Bf security or sto? it for Which you has?
competed with Morgan * ?'<?. in the last
five years?" asked Mr. I'ntennyer.
"No." sal?! Mr. Baker. "\\\ usually .11
viil?' the Issues."
"'"an you recall any single transaction
of llO.OOft.ono or more during the last five
?ears that has not inv..lv."l either Morgan
A Co. or the First National Bank"'"
Mr. Baker could n?>t recall ?my.
"This Is the scheme of BM*d?fB enm
blnatioii and co-operation ;<? ..^.?'ust the
archaic principle of competition, isn't it'."'
nsk??rt Mr. !'ntennv?r.
"Well, yes, If you put it in thsl elabo?
rate way," snsarersd th?- situes?.
PARK ROW I SUNDAYS
No Dearth of Oases. Aldermanic
Committee Hears.
l'ark Bow Is by no means the ?.aident !
plae? In the city tu get a ?liuik .?? 8?|ii
day, according to ISS?BWU) giv? n * ? 9.
terdaj- at ttie hearing on poll?-,? COfld ?lop?
'???f'.re the al'leru.ar.!' committee. Rhoif
I'ars with long drinks on the other ?hie
of a temporary partition constitute a
special Sunday arr.iiiKciiu ?.t for th'? man
with a seventh day thirst. At bast, thst
Is the situation in ?hat part of ih? city?
as atrongly Intlmnti-d hy llnnry It. Bu? k
nrr, counsel to the ?otiimltt?-.*, In bis ev
amlnatlon of Captain Bdsrard ?' B?8Urke,
of the Oak street station. In srhSs? ?.fll? !??1
domain the Park Row .?ase? are in?l'i?l>?l |
Not that the captain admit'.-d ?ha? BUeh ;
violations of the excise law ?Sisted in hla
precinct, but he Seemed to len-1 color to
Mr. Bnckner's insinuation In descrlbln?
ii!? Outles, as he ?aw them, as a p??li' I
captain. If the captain lo?ikr?l into a BB>
loon window or. Sunday and saw- ttie bar?
room empty as far bash as th?- wall, or
the barrier, or the partition, or whuiever
It might lie, and if there wire t,n diior
dsrly i>erfion? in (root ??r th? pi.?. ? ht
?aid he was satisfied that th,re war? .,??
violation of the law That was as far as
tils ?Inty of investigation went a? a police
captain, htt ?aid.
"I?ld you ever notice that the bar?? OB
Park Row WtB% shorter ??u Sunday th.ui
on week ?lays"" asi.'?I Mr BUCklB
"I have nothing to do wlrli th- length
of the bar." replied ?Captain Bosrlu
"Didn't you ev?r set ?1 bar with 9 tem?
porary partition, with mirrors. ?r?Ctsd
' sprciiilly for Sunday?" ??k'd Mr Hmk
ner.
' "if i ?aw a ta: wi?h 1 barrlei which
met my gaze at the ?nd. und It looked
like a wall, leaving a fair Bleed barroom
In front of It, with no p???pi<- In the room.
1 should ? ?nslder that h deer l?ar, as fa?
88 my duty of inspection went," th?j wlt
Bes? explained.
The witness was puzzled by Mr. Bu.k
ner's reference to "beer oil draft" arid
to "?beer-cocks." He said he did not know
whai the lawyer meant. He admitted that
he liad sometimes tak?n 9 glass of beer,
even in a saloon, but would not bo into a
Park Row 981800 for anything le*s than
a riot It occurred to the ?rttnesa that
"beer-cocks," to which COUDS?! alluded,
might l?e ttie brass (BUOeta from whl. I?
the beer was drawn He In..I never no?
tice'! Ju?t where the "liras? fumets" were
located on Ihe bar, whetb? r In the middle
01 near the en<!, ?nd had nevfr taken par?
ticular notice on Sunday whether the
fau??t? could be seen.
Mr. Baetper ?uggested that the captain
give his definition of a bar.
"A tiar, I auppos","' he Bald, "I? wood
made into the form of a .ouritcr, ??? peo?
ple can lean against it."
Captain Bourke came out flat footed In
favor of Mayor Gayiior's idea of main
taining 'outward decen. y and order" in
regard to the ?*iifor> 9BMB9t Of the ?x? i.?,?
law, ?s well as of the law against gam?
bling and disorderly h<?us<v. He thought
a person should be allowed to get a drink
on Sunday In an orderly way, the ?atrit?
as on week ?STS/B, His eighteen years' ex?
perience In the depm tmt-nt had taught
him. he aaid, that the re?triuion? pin-??-?
upon the uniformed force in getting evi?
dente agalnat such place?. leaving It to
the inspector? plain? loth?-?, men 01 ?;,<?
flat squads, WS? the only sensible way to
enforce the law.
Captain Bourke surprise?! Mr Buckner
and the committee when lie ?aid that hi?
conaldered certain letters of complain',
from citizens the captain? private letters
and not official documents, and that the
captain was th.* .-??i? Judge as to whether
such letter? on their face w.uranted an
investigation or shoulii be destroyed. He
had destroyed letter* ?,f complaint from
cltln'ns which he considered "unfounde?!
and incoherent," he said. He ?Ited a? an
example of such a letter one he received
recently asking him "what he did with
the graft from the push? art pedleis along
Park Row."
The captain said that the letter evi?
dently was prompted by an article on
graft in relation to the puahcart pedlers
which appeared recently In an afternoon
newspaper and was not founded on fact.
Captain M. J. Toole, formerly In charg?
of the Oak street station for five year?,
now at Bridge A slatlon, in Brooklyn, de?
scribed' his method of enforcing the law
against gambling and disorderly houses.
It was similar to that of Captain Bourke.
NO QUARTER FOR POLICE
EXPECTED FROM SIPPS
Former Hotelkeeper and Family
Roused by Attempted
"Frame-Up."
FOX MAY HELP WHITMAN
His Conviction Looked For, but
It Is Not Thought He Will
Allow Himself To Be
Scapegoat.
District Attorney Whitman was in?
formed yesterday in outline what he
could expect from the testimony of
George A. Sipp when the former Har?
lem hotclkeeper went before the grand
Jury. Because the District Attorney
was not prepared to go on with Sipp
yesterday his appearance before the
grand jury was postponed until Tues
?l.'iy gad his return to town put off
until Monday. In the mean time he
??111 r?>main in Philadelphia.
Although not directly eO-MMggod with
police graft, hut rather with the i>ecu!
lar efforts of the police to prevent
Slpp's evidence from goitig before the
grand Jury, the testimony of Mrs. Sipp
Ih likely to play almost as Important g
role in the investigation as that of her
husband.
Assistant District Attorney F. J.
Gmehl, who has been with Sipp in At?
lantic City and Philadelphia, reported
to Mr. Whitman yesterday that Mrs.
Slpp's evidence woulil come pretty near
putting two high police officials In the
sume position ns that occupied by
Maler an?l DuneUer. They arc the men
accused of trying to bribe the Janitor
Of Mrs. ?.node's flat when he uns about
le go before the grand Jury.
Says Inspector Warned Her.
According tu her story she was asked
tu ko to Police llsedqnsrtsrs th?- day
after Mary Colenum testified before
the aldermen that tiie Slpps had Cap?
tain Thomas W. Walsh as their guent
on a trip to Pl'irlda. At Mcadiiiiarlers,
Mrs. Sipp told Mr. C.ro?hl. she met a
police Inspecter with whom she was
well acquainted, and he said to her:
? We're getting a lot on George, and I
it'd bs better f?-r him to quit this, it'
won t get him anywhere, an?! It's liable
to make a lot of trouble for him."
Mrs. Sipp said she paid little ntten- I
tlori to the implied threat until about a '
.\crk later, when she again met the,
same inspector at the home of a mutual
friend This tlm?-, .?he said, he gngg
i i more explicit. He trwik lier to SIM
side, uni! began b] telling h? r he hol
evidence ugalnst her husband that
would BSad him to Jail.
"Wo ?an put George SCfOSI f"r
twenty >?ars," she say? she was t.?l?tl
then, 'but if vou'ii get him t?> drop
this nonsense we'll hold off from pros
ecutlng him."
The fa? t thai ?ne efforts of certain
[...ii e ofjBelals were ? raftlly uinie?! at
??lit. mating eorroboratlon <>f Slpp's
graft tabs elOO ems evident from an
othei matter Mr Grochl reported to the
District tttorneff. That concernad
Howard Sipp. the oMesl SSg ?>f the
t:ote|k. . per. ulm can corrobor?t" all
his la-Htlmony, Sipp sa\s. Howard
Sup. according to this report, was
asked bv tii?? wife of a captain in the
Police Department arhethST he would
like le takl S winter trip t<? California.
"If you want to take :.. g?io?! Vacation
in i sllfornis it wi n't cost you ? cent,'
?vas the offer mads t?> young Blpp, but
tile fOUSIg Tilia It said he ha.! Ilo thollgl.t I
ol gnlni: away, and thni he was going
|0 sii. It i?: bis father until the whole I
mat ter S/SS ? leaned ui .
Sipp and bin son, as well us Mr.-.
Sipp. are sni?l t?i be In a mood to tell
all they know of the poll? c giafl .sit
dation, and although It was at first be?
lieved they would try to ahlnld ?nine
of their clooeal friends it? police official
tloit,. tbe effort mad?- by these very
offldnlS to "frame up" % letOOS charges
against Sipp has in it.?<elf changed the
situation, ami the Sipp? belii-v?? now
thai oiilv by tilling evt-rything ?an thev
"Ko.uure account?' with tbe police who
'.ri'tl to lend the bead of thj^ family.
Aid Expected from Fox.
i.ist'i' t Attorney Whitman was sol
Im lined te go into the possible strength
of the Hipp testimony yesterday fur?
ther than lo say that he now ha?l no
doubl bin what It would convict Patrol?
man Btagens TOM, the man whom Sipp
named ss tbe collector, if Tom is? con?
victed i' Is net believed thai he urtll
allow hin self tO be mad?- a scapegoat,
especially as lie is said to have been an
"li.nocen!'' ?oit of a collector, not
keeping iny per? e'itage for himself.
A st??ry that confirma this estimate
of 1""X was being freely dted in police
circle? yesterday, that at one time dur?
ing the very |?erlod when, according to
Sipp, he was I olb-ctlng. he was so hard
up that he tame near being evicted
from hi? apartment. Fox is a ?juiet
looking man. ami apparenily not given
to the display, usually so marked on a
?craft COUootOr, of flashy clothes and
tilg diamond?.
"lie District Attorney said last night
thai he had received word, presuma?
bly through Sipi?, of the whereabouts
<?f Thomas. .1. Dorian, and also that
Dorian would lestify before the grand
Jury if called lo corroborate any part
of Sipp? story. Dorian was the as?
sistant manager of the Avanell Hotel
when the liochatim syndicate boughi
that property from Hipp, and Dorian
testified before tin- aldermen that he
had turned over $101) a month to Hipp
for police protection for six months
after the syndicate took control. After
that period, and during each month
during 1!H2. Dorian swore, he had per?
sonally handed $.V) over to Patrolman
Fox.
The police trials of both Fox end Pa?
trolman John J. Hkelly, who wae simi?
larly accused by Mrs. Mary Goode,
were adjourned for another week, after
a few witnesses had been heard yes-1
terday. " !
DEAN ALVORD CO.'S
IN RECEIVER'S HANDS
Interest Charges of $200,000
a Year Heavy Burden for
Five Concerns.
PAYMENT HARD TO MEET
Market Conditions and Slow
Progress in Efforts for Read?
justment Induce Petition
for Dissolution.
Petitions for the voluntary dissolution
of the Helle Terre Kstates, Incorporated;
the Itoslyn Kstates, Incorporated; IM
I'ean Alvmd Securities Company, ih*
Suburban Construction company ami the
Dean Alvord Company were filed yester?
day In the Supreme (''?iiirt. and, upon
motion of l.atson. Tamblyn A Plckard.
COUUSSl f"r these companies, lid ward
-gone was appointed temporary receiver
for each company upon filing a bond in
the sum of J!?,??) In eacli Instan SO Iff
Lyons Inunedlstely m?d bis bend with the
CgSUelty ('ompany of America, and it
Was approved hy rustic?? Jaycox, of UM
gepreme Couti In Brooklyn, who (ranted
orders bonding the receiver.
All of the.se companies, with the SSOSP*
tlon of the Dean Alvonl I ompany, WSW
organized hy the lssulng of unsecured
debenture bonds representing cash lnve?-t
ments In each Instance, and these heaOS
hore interest at ? per cent, payable sem'
SnUUaUy. The aggregate Interest CttSTgC
thus amounted to approximately I300.1??)
a year, and the difficulty In meeting these
recurring Interest payments, in view ?.!
the difficulty of mark-itng residential real
est?t, during the last few years, has ne?
cessitated the dissolution.
A few weeks ago these companies,
through a ItOMinlltQS of bondholders. Is?
sued a deposit BgrosmSHt looking to a
readjustment of their s? vera! ? o. potad
plans, hol the progress Bnder this agree?
ment has h.-en so slow that re?-i Iv.r.-ihlp
seemed destrnbk
Fteiio Terre ffststsg Incorporated, owns
more than one tbouaand acres ef land at
p?rt afeeTereon, i.ong island, srhleb has
been a really Improved and mum which a
large number ..f hupertoat dWelllngs I
have heeri erected. Host.? u B?fttStft, In- !
eerporated, has been developing a tract
near Hoslvn. Long Island. conHlsting of I
approximatif three hundred aerea trhsre
similar lln?-* of Improvements SUd <l'".'?.'l- I
opment have been Incorporated.
Th?. Suburban ConOtTUCtlOfl Company ?
was engas?"d In the work of building
roads arid erecting dwelling houses for
these various plans of developnwnt. The
l??.an Alvord ISCUrlUos Company dealt
largely in acreage prugesHfcms and is the
owner ..f important tracts 'n Long lsim <i
'it) and elsewlu-i'-. The lican A'.vnid
? ompanv holds substantially half of the
capital stock of th???e <oi notations and
ha? been engaged In tin- work of cam it n
??ii 1li?' devi?|o|iinent an?! administration
Of the several pfOgOTtlca
The eempenlee ar>> i p.sei > later noten,
on?! tin? exa< t ?itUHtlnn with reference to
ea?h cannot at this time be fully deter?
mined. The unsecured ponded Indebted? |
ne*?i ?,f Hell.? Terre Ketate.?--. Incorporate?!, j
is tl.-W.ftj? There ?s an underlying mort- j
sags apaax tbe pragtottg securing an issue
?>f l?OO.oOn. Th.? Itoslyn Kstates, Incor- !
pOtalSd. bus outstanrling uns. cur.-d bond? |
to the arnotint of MMM, with an under
ivie? Mortgage sf PIMM se. wring a b<->n.i
issu?- of that amount. The Dean Alvord
geeurlUss Osnspany has eutatandlng an?
secured deb? ature bond? to the amount of
PIMM? The Suburban construction com*
ji?n> lias outstanding unsecured .?ei^nt
ure bonus to the amount of |i!n'..Mfc 'I tie
Dsea Alvord Company has outstanding
debenture ?,<->n?ls to the nmount of l_'tju."?i'.
in addition to them obtigatlone, the eons*
paales aie Indebted for various items of
floating ladebtedneee and bank loans eg?
liega ting approximately not to eacecd
IKAOOO.
The receiver hns leialrie.l HoeeubCTg A
l.evis as his counsel, aixl will at one
enter upon the discharge of Ills duties.
Mr Lyons seyi he '.?? as yet unfamiliar
with the situation, hut hopes to turn back
the?i> properties t?> the ?orporations in
??uch form that ift?r appt oprlate rehabili?
tation the Interests of all will be con?
serve?] hoth SSpsdttleeel) Snd economi?
cally.
FIRE ON ATLANTIC LINER j
Cargo of the Carthaginian
Ablaze?Vessel Damaged.
St. John's, N\ K.. Jan. 10. A narrow
es. ape from destruction from lire was
reported by the Allen Uns steamer
Carthaginian, which arrived hme to?
night from Liverpool. The steamer
left Liverpool on December 28, and
when three days out her cargo taught
fue in some unexplained stay?
The llames spread so ruphlly lhat It
was necessary to pump an enormous
amount of water into the vessel The
lire wus finally < .llngulshed, bul for
twelve hours tbe water was knee deep
OH the lower deck.
It is estima!?"?.! thai repairs to the
vos. I grill cost 1-0000, A large ?.art
of the general caigo was damaged.
OTTO SVERDRUP LOST?
Fears in Norway That Explorer
May Have Met His Death.
Christiania. Jan. 10. ? It is feared here
thai Otto Sverdrup. the Arctic ex?
plorer, and a party of sixteen persons
who a? ? ?impanleil film on a walrus
hunt In Ore-nland wateis have been
lost.
S\ ?nil up and his party left Chris?
tiania in Mar? h. 101-, In a motor ship,
and sln?e then nothing has bean henni
11 ?.in UM expedition Mall sent to a
station In South C.reenland, where the
walrus hunters were to have stopped,
has been returned here marked "un?
called for."
? ' ?
DEFENDAM'S NEW OFFICERS.
Theae officers of the Defendant Associ?
ation, Corps of Engineers, of the 2^1
Regiment. N. ?J N. Y.. have been elected
for 1013: President. Major Daniel J.
Murphy: first vke-presldeiA, Captain
Maurice K. Burnton. second vice-presi?
dent, Colonel George O*. Potter; secretary.
Captain Wilbur F". Harber: treasurer, j
Corporal Albert E. Davis: chaplain, the ;
Ilev. vVll'.lani N. Duunell, 8. T. D. The
next meeting will bo held In the armoiyj
on Wednesday evening, January 15, at
which arrangements will be made for
celebrating the opening of the new arm?
ory and for the annual dinner, which will
be held at ihe Park Avenue Hotel on
February 15. I
S. Al?matt $c Ok
have arranged a Highly Important
SALE OF ORIENTAL RUGS
the details of which wiH be
announced to-morrow, Sunday,
January 112th.
V
Jiffy Anemtf. 34ilj w? 35tlj fiHrtttt, Htm Jitrk.
Ask Your Grocer for
BIRD'S EYE MATCHES
packed in boxes labeled non-poisonous
They have been approved by
the Municipal Explosives
Commission and meet all the
requirements of the new match
regulations of New York City.
THE BEST MATCH MADE
THE DIAMOND MATCH COMPANY
To the Clothing Manufacturers of New York:
The United Manufacturers & Merchant? Association
ha? in its membership today 75 members, with new ap?
plications coming in every moment. It invites the en?
tire trade to join with it.
It has appointed a Permanent Conference Commit?
tee and is prepared to work out peaceable solutions
of the difficult problems in our industry.
Although it has no connection with the New York
Clothing Trades Association, it is not opposed to any
organization, either of employers or employees. It went i
to preserve the clothing industry of New York. It be?
lieves it cannot be preserved by a continuous state of
warfare.
Applicants for membership should apply to Henry
Wolf, Secretary, Room 212, Broadway Central Hotel.
UNITED MANUFACTURERS & MERCHANTS
ASSOCIATION,
WOLF ELIAS, President.
HENRY WOLF, Secretary.
PHILIP C. SAMUELS, Attorney.
JULIUS HENRY COHEN, Counsel.
Enjoy your auto iiv
@/6rnia
Every road & royal highway
To-day California has a great
system of oiled highways, costing
millions. You can drive for hun?
dreds of miles, swiftly, safely, com?
fortably. One of the many outdoor
pleasures in this winterless land.
A Santa Fe train will take you there.
The California Limited ? king of the limited* ?
exclusively fur first-class travel ? runs every ?Jay
? sleeper for Grand Canyon.
Santa Fe de-Luxe ? the only extra-fare flyer. Chi?
cago and Kansas City to Los Angeles ? once a
week this winter ? America's finest train.
California Fast Mail ? also the Los Angeles Express
and San Francisco Express ? three other daily
trains ? they carry standard Pullmans, tourist
sleepers and chair c?trs ? all classes of tickets
honored.
Fred Harvey meals.
Visit Grand Canyon of Arizona en route.
Say which train you prefer. Will mail booklets.
Ceo. O. DilUrd. Gen. Eut?rn Pan. Aft,
S77 and 1034 Bre??!w??, N??r York City.
Phon?, l'nmklin 3.110 ?nd 8901.
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