The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-04-02

OF the sixty days during Wn1On Drew had con- |
troll of the 'pool' under the second contract 1t |
is asserted he informed hIs associates in the |
"nice little arrangement that he had success |
fully conducted the operations of the 'pooln |
and had secured pronts 10 the tune of about |
$22O, 900 to his chums, and thatit was ad dVisabe |
that the agreement should be continued for |
further period OF SIXTY days under the con-
ditions OF the origInal contracts. THIS propos
ion received the verbal assent of his associates,
md 1t is charged in the complaint that he ope-
rated the stocks rs formerly under this new
covenant, employ ing otner brokers than FISK
and Belden, and so concealing his transac-
lions by fictitious names and otherwise, and
thereby preventing his associates from
tracing the results OF his purchases and
sales. In these operations it is alleged he
realized profits to the amount OF $4,000, 900 and
upwards, all of which gains 1t is claimed ought
to be divided among the parties to the two
agreements in proportion to the capital invested
by them in the common enterprise, and no por-
tion of which should accrue to him. for the
reason that he failed to furnish any proportion
OF the aggregate stock, or to allow Fisk and
Belden to keep the accounts of transactions.
On the termination OF the second written agree
ment, May 70, 1866, HuyCk and his associates, it
is urged, were entitled to an account of the full
transactions and a delivery OF their entire in.
terest, including profits realized from the opera
uons OF the pool, and that they expected TO
receive the same, ana demanded from Drew,
Burr, Belden, and Fisk such an accounting
The latter gentleman, the plaintiff states
wholly neglected and refused to comply with
profits included.
Tue twentieth allegation OF the complaint is
to The effect that in the early part of June, 1885,
Leonard Huyck had become insolvent, and that
thereupon Fisk and Belden requested him to
execute an assignment in writing of all his
right title, and interest in these Erie pools
which assignment was to be without any con-
slderation, but for the purpose, as they then
stated, of enabling them the more easily to
settle with Drew the transactions above stated,
and to protect the interests of Huyck and his
associates. Huyck expressed an unwllingness
to comply with this mild proposition, upon
VIII ch Fisk and Beiden again assured him that
their object was only TO protect the interests of
himself and associates arising out of the trans
actions in Erie stock, and that by having such
assignment they (F1sk and Belden) would be
able to secure from Drew more advantageous
settlement, and would also secure to him (Huyck)
much larger SUN than he could otherwise
obtain. They next requested Huyck to agree
that If, after making the assignment to them,
they should succeed in making an advantageous
settlement with Drew in his behalf, he would
award them handsome remuneration for
their services. They also represented to him
that in his present pecuniary condition 1T
would be impracticable tor HIM to secure from
Drew the amount really due him, and that 1t
was necessary that his rights and Interests
should be entrusted to come person who could
enforce them, as they (Fsk and Belden) then
proposed to do. No offer OF purchase was made
by these conscientious agents, and Huyck ultl-
mately assented to the transfer, and, without
receiving any compensation or consideration
other than their assurances, signed some paper
or written instrument, by the terms OF which,
for the nominal sum OF one dollar, he trans
ferred all his claim to or interest in the pools
OF Erie"
The plaintiff Stewart, insists that this assign
ment was, and is in all respects fraudulent and
void, for the reasons that Fisk q Belden we're
at that time the agents, factors, and brokers of
Leonard Huyck, and had withheld from him
all knowledge and information OF his rights and
interests in the transactions so transferred to
them; that no equivalent was paid therefor,
and that the same was, in law, fraudulent and
void as against the plaintiff, Stewart who was
then, and still is, q creditor OF Huyck Stewart
next alleges in his complaint the substance of
the folio letter.
DANIEL DREW, Esq, New York;
Dear Sir:-Please take notice that Leonard
Huyck, on the 10th day of December, 1866,
assigned, transferred, and delivered to me ali
his right title, and interest of every name and
nature, either at law or in equity, in and to any
moneys deposited in the pool or operation in
Erie Railway stock, in which yourself, E. ID.
Burr said Leonard Huyok, Andrew Mckinley,
George W. Wiley. Henry Cohen, W. q. Dormin
& Co., Henry Baxter, and Fisk Belden are IN
terested, under both of the agreements under
which said pool or operation was carried on,
and has also assigned, transferred, and deliV-
cred to me all his claims tor any and all profits
arising or growing out of said transactions OF
every name and nature. And you are hereby
notified to settle with me, and with me alone,
in regard to the interest OF said Leonard Huyck
in said operations, and that any payment made
Dy YOU " duObuSL p0I6Ou Will NC Wy hlC
to be no payment as against me.
ecembeT 20, 1885, JOSEPH B. STEWART.
This transfer, it is claimed, was made in con-
sideration of Huyck's Indebtedness to Stewart
in the sum of Sl76, 900, and since that notifca-
ton the plaintiff alleges that he has demanded
settlement of the affairs connected with the
'pools," but no such ayment has been made,
or any portion of it; but that Fisk and Belden
have combined and confederated with Daniel
Drew to conceal the fraudulent TRANSACTIONS,
and to enable him to retain possession OF all
the stock, etc., and have threatened that by
means OF the great wealth and pecuniary ability
OF Drew, and their cooperation with him in
hance Stewart and all other parties who might
seek to recover from Drew their interests IN
the operations; that Drew, Fisk, and Belden
have converted the capital invested by Huyck
to their own use; that Mckinley, Wiley, Cohen,
and Bocock have also each demanded OF Drew,
Fisk, Belden, and Burr an accounting OF the
transactions and the delivery OF them of their
capital and proportions OF profits, but have
been refused, and that the plaintiff Stewart has
requested Wiley, Cohen, Dornin, Bocock,
Mckinley, and Baxter to unite with
him in the prosecution of this suit.
so, and pursuant to law are joined as defendants
in the action. In consideration of this moderate
category of offenses the plaintiff Joseph B
Stewart, demands judgment in the sum Of
$500, 900 and upwards as damages, and that fol
the purpose of ascertaining the amount o
damages, capital, profits, etc., Burr, Drew, Fisk
and Belden be compelled, by order of the Court
10 furnish a detailed account of all the trans
actions in relation to the pools of Erie RailWa,
stock, of the proportions OF capital and profit
to which each of the parties to the agreement
is entitled, and an order OF arrest for Drew
Fisk and Belden for their wrongful and deceitfU
acts.
The order OF arrest has been granted, a