Debts Hidden as Assets in New York City Railway Case
The state argues that seven million dollars in deficits should count as liabilities to prove the New York City Railway insolvent. Testimony reveals deficits of subsidiary Third Avenue lines were "advanced" to the parent and booked as assets to meet rental guarantees. Auditors describe liquidating entries and disputed securities collateral, with continued hearings on related franchise taxes.
MENTIONED IN THIS ARTICLE
Herbert R. Limburg
Attorney General
Brown
Mr. Limburg
New York City Railway
Mr. Brown
Moet
Metro
Politan Street Railway
Metropolitan
Third Avenue
New York City Road
Metropolitan Securities Company
Metropolitan Street Railway
Morton Trust Company
Securities Company
Limburg
Receivers Fail In City By Fight Over Street Railways
Judge Lacombe of the United States Circuit Court dismissed the petition of Paul Fuller J Hampden Dougherty and Melvin G Palliser State receivers of the New York City and the Metropolitan Street Railway Companies yesterday for an order directing Adrian H Joline and Douglas Robinson the Federal receivers to surrender possession of the companies property.
MENTIONED IN THIS ARTICLE
Lacombe
United States Circuit Court
Paul Fuller
J. Hampden Dougherty
Melvin G. Palliser
New York City
Metropolitan Street Railway
Adrian H. Joline
Douglas Robinson
RAILWAY CASES CLOG COURT DECLARES LIQUIDATION ORDER NEEDED
Judge Lacombe in a United States Circuit Court opinion filed yesterday urges liquidation of 4 203 transfer penalty claims and 2 071 negligence actions against New York City Railway Companies. Special Master Turner has not tried any since appointment. court may direct transfer and liquidation of all transfer refusals and tort actions to a Special Master.
MENTIONED IN THIS ARTICLE
Lacombe
United States
Circuit Court
Pennsylvania Steel Company
New York City and
Metropolitan Street Railway
New York City Railway Company
William IL. Turner
Turner
Oriental Bank Debtors Pivot Toward Compromise Plan
Anticipated in New York Supreme Court today a shift from confrontation as Attorney General Jackson and Oriental Bank depositors committee lawyers edge toward a compromise. Untermyer directs the negotiations with Menken and McClure, aiming to vacate receivership and reduce payments to Metropolitan Trust Company and the Liquidating Committee.
MENTIONED IN THIS ARTICLE
Oriental Bank
Jackson
Supreme Court
Caneril
O'Gorman
S. S. Menken
Philbin, Beekman & Menken
Samuel Untermyer
David McClure
Untermyer
Metropolitan Trust Company
Oriental
The
Cat
Metropolitan Plan
Counsel for policyholders backs state receivership action
Samuel Untermyer has been retained as counsel for a number of English and American policy holders in the Mutual Reserve Life Insurance Company to sustain the Attorney General’s action favoring a state receivership for the company, recently placed in federal receivers.
MENTIONED IN THIS ARTICLE
Samuel Untermyer
Mutal Reserve Life Insurance Company
Knickerbocker Trust Plans Reopening Endorsed by Gage
The Parsons Satterlee Committee gains backing from former Secretary of the Treasury Lyman J. Gage for reopening Knickerbocker Trust with over two million in fresh capital, offering stronger assurances depositors will be paid in full. Justice Clark to hear the question of permanent receivership on Staten Island tomorrow. Herbert L. Satterlee denies rumors of hidden funds and asserts such talk is unfounded.
MENTIONED IN THIS ARTICLE
Parsons-Satterlee
Knickerbocker Trust Company
Justice Clark
Staten Island
Herbert L. Satterlee
Parsons Committee
Probes Dayton's $30 000 Bill For Legal Services
The $30 000 bill of Charles W. Dayton Jr for legal services from Jan 1 to Sept 15 1907 for the receiver of the New York Building and Loan Association was reviewed before T F Conway. Receiver Charles M Preston collected $19 000 in fees first year, kept $12 000 and set aside $7 000 for deficiencies. The Deputy Attorney General objected to applying the reserve to cover a two year deficit. Dayton outlined his daily schedule including Sundays and holidays and the reference adjourned to Wednesday for additional information.
MENTIONED IN THIS ARTICLE
Charles W. Dayton, Jr
New York Building and Loan Association
T. F. Conway
Charles M. Preston
Dayton
Haffen’s Books Doctored In Bronx Inquiry
Borough President Haffen’s office faced fraud charges as Commissioners of Accounts exposed systematic falsification of engineering and inspection fees over ten years. Key witnesses Josiah A. Briggs and Samuel C. Thompson testified engineers’ fees were capped at 15 percent. excess costs were shifted to other work. About $50,000,000 of improvements since consolidation were affected.
MENTIONED IN THIS ARTICLE
Haffen
Bronx
Commissioners of Accounts
City Hall
Mitchel
Josiah A. Briggs
Samuel C. Thompson
Bureau of Highways
Briggs
Brokers sue for margins over Union Pacific stock loss
Walter W. Irwin representing Currie and Boyce filed a suit against Frank J. Sprague seeking 48051 for margins advanced on Union Pacific United Realty and Improvement Company. Sprague asserts the action may offset another Currie firm accounting suit amid suspected irregular securities operation.
MENTIONED IN THIS ARTICLE
Walter W. Irwin
William Street
Stock Exchange
Currie & Boyce
Broad Street
Frank J. Sprague
Sprague
Union Pacific
United Even Realty and Improvement Company
Currie
City to Bond Issue Signatures Engraved by Mayor and Controller
The city will have coupon bonds signed by Mayor McClellan and Controller Metz engraved rather than handwritten. The Corporation Counsel ruled the engraved signatures are legally valid for the issue.
MENTIONED IN THIS ARTICLE
Needn’t
McClellan
Metz
Savannah stock car entrants reach fifteen with Lozier joiner
Autos for Savannah feature races include a Lozier stock model driven by Harry Michener, added to a field of fifteen across three events. The 360 mile main race heads March 39, with 180 mile races the day before. Ralph Mulford assists, and other entries include Isottas, Appersons, Acme runabout, and an unnamed American runabout.
MENTIONED IN THIS ARTICLE
Lozier
Savannah
Brighton Beach
Morris Park
Harry Michener
Michener
Westchester County
Ralph Mulford
al. Poole
H. N. Harding
Herbert Lytle
George Robertson
Acme
Malcolm Newstetter
Pennsylvania
Thomas
Stearns
Hillman to Compete in Thirteenth Regiment Relays
Lieut Harry L Hillman Jr plans to run as a member of the Thirteenth Regiment in the New York Athletic Club military relay on March 10 and will also participate in several events that night The council of officers met to discuss the controversy but avoided a decision and Hillman received broad support for his plan to continue competing despite his rank
MENTIONED IN THIS ARTICLE
Harry L. Hillman, Jr
Thirteenth Regiment of
Brooklyn
Hillman
National Guard
Col. N. B. Thurston
Thirteenth Regiment
New York Athletic Club
New York Spoils Big 880 Yard Race in Philadelphia Meet
In Philadelphia New York beat the Middle Atlantic Association by 46 2 3 to 30 points at the inter association games. Melvin Sheppard of New York was criticized for fouling Guy Haskins. referee James E. Sullivan ordered the 800 yard race run again but New York teams refused to comply.
MENTIONED IN THIS ARTICLE
Philadelphia
New York
Meropolitan Association
Middle Atlantic Association
Melvin Sheppard
Guy Haskins
Haskins
Boyle
University of Pennsylvania
James E. Sullivan
Sullivan
Haverford
Universit of
Pennsylvania
Tad "' White
New York A. C
G. Perkins
J. V. Mulligan
Aquinas C.C
H. A. Sedley
L. B. Dorland
Pastime A. C
iWon
Kreuger
Swarthmore
Stipp
Mertersburg
Hart
Princeton Prep
Cloughan
A. C
Hildreth
Central Manual Training School
O'Connell
Minds
Eller
Hall
Mercersburg
Northbridge
Christine
Oo Hall
Aew
Bellairs
Malone
Mohawk A. C
Tomlinson
Drumbell
Miffitt
Noble Wins Quarter-Mile Run at Columbia Indoor Meet
In the Columbia indoor games at the university gymnasium, R. Noble of 1910 won the quarter mile in 0 553 5. A G Marsh 1910 place second and Hvans 1911 third. Mile run saw A Swezey 1911 first with Councilman 1910 second and Seymour 1910 third. time 5 08. Bonhag of the Irish American Athletic Club did a half mile exhibition pacing Columbia Varsity runners Sanders Heynes and Zink.
MENTIONED IN THIS ARTICLE
University Gymnasium
R. Noble
George Bonhag
A. Swezey
T. B. Councilman
B. B. Seymour
Also Mentioned on This Page
Third Avenue Railway
Public Service Board
H. W. Brown
Paul D. Cravath
Third Avenue Road
Third Avenue Company
Union Railway
Public Service Commission
Interborough Metropolitan
Oriental Depositors
Timberline
Scipio le Moynete
the Saturday Evening Post
Mr. Wister
Curtis Publishing Company
Nick Meyer
West 18Th St
Knickerbocker Action
Sheppard
Caress
Carl H. Schultz
Madison Sq
N.Y
Indubil
Tracy
Louis
Edward J. Clode
Noble
R . Jacob
Brill
America
Cravenette
Union Square
14Th
N. B’way
Broadway
N. Chambers St
125Th Street
Cor
3D Avenue
Cortland7
Greenwich
Company Dry Goods
Paris
Sixth Avenue
19Th St
B. Altman & Co
Chicago
Los Angeles
momentRané Baal
Upall Fast Wiau
San Francisco
Portland
Union Pacific & Pacific
A. Hutchison
Clark Street
N. Y
WM. Reiman
Fifth Ave
33Rd St
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