, 1874-06-12
LOCAL. MlSCELLNAY,

lOCAL MlSCELLNAY,
THE JOLIET IRON AND STEEL COM
PANY.
The examination Of sho ollicora OF tho
Joliet Iron and Stool Company wRs coll
tinucd yesterday. Tho day previous, A.
b. AIeekor, tho proatdons Of tho Company. was
subjected to rigid examination with tho
Wow Of discovering nny fraudulent tra,iB-
actions on tho part Of tho ollcora
OF tho Company. His testimony, though. gon..
oral In Its character. 10 not having the DOORS OF
tlo Company, showed neithor fraud nor fraudu-
Yoatortay tho parties adjourned to tho Conf
pany'a oilico, No. o. Washington street, and ny
tho aid OF tlio books, examined N1r. Wrenn,
former Treasurer Of tho Company.
Mr. u. i. Smith, tho attorney for tho compa-
ny, objected to any examination On ma.tolH 1tte.
which occurred bofore tho 1tng Of tIe pottlon;
Tho point waH cortlacd to judge H!odgott. anu
hc ruled that the pctionng GroltGsff sf as;Gon"
tino himself to tho chargos mado IN hls potitlofat
and could not oponmattcrs occurring oeioro pro,
ceedings wero commenced. This decision
rulotl out Utmost oil Of Mr.. blocker's Testimony,
aud y viii net be edsa nt n a 39an to
the Company. Mr.. Wrenn's examination. oc.
cupIod tlo whole Of tito day, md consisted
chiefly In explaining the nature Of the vatioWs
debts and orcdls shown OIL tho cash book, and tho
hand at tho time Of tho filing OF tho petition.
Thin amount Wrenn tostifod waa about 81. 800,
whith wAs reduced to $2029.86 BY June .. One
Thousand dollars was paid for attorneys
feo1 so a fS1 interest n stsr on aauns sgs 0fee 9e9
freight, and tho usun1 expenses OF tho
Company. IN itom Of st40 was found as paid
to W. ". Dislop, Of Aurora, for attending meet
ings OF tho Directors. Wrennn testified that tho
Of plying aoTno Of tho Directors who ltyod out
Of town for tl,elr expenses In attending mcot-
lnEs, Mt tho ratc Of $40 mooting.
But tho isom that occasioned apparently tho
most trouble WAS charge Of e1o0 to one Dam,
Joliet. Wrenn said 1t waa not for sorviccs, but
wag probably loan without security, md for m
indoinito timo. Tho attorney for. tho
petitionlng creditor wished to ascertain =, II
{Ss 6asDays US s rsy ws uss s ana 's tho
nmination on this point occupied nearly
m. hour. Wrenn, however, robbed tho
point Of part Of ta interest by showing that
tho money had boon rott1rnod Jnno U
Tho Testimony takcn haB also shown that
Meokcr, tho prostdont, and Wroou, Troasnrer OF
The Joliet Iron aud Stool Company, wore ut ono
time stockholders in tho Chicago Iron Company,
and that ut tho samo tnao ono Coulter held q
nGout s5o, 900. Afterwards, while tho mortgage
ntlll romatned, Moolor md Wronn sold and
transferred to Tho Joliet Iron md Steel Company
their stock In tho ChicaEo Iron Com,
rany, and, aa officers in tho Joliet
iron and Stool Company. raid thcm-
eoycs In tho Btock Of tho Joliet
Iron and Stool Company for this Chicago Iron
Subsequent to this transaction, and on April
%, 1874, tho property Of the Chicago Iron Com.
Eany was Bold Oh the Coulter H1ortgnFc, and bid
OF by ]. I. Case. ono Of tho Directors Of IN tho
Joliet Iron alld steol Company for eco, ,000.
This was dono aftor tho petition in bankruptcy
the Joliet Iron and Steel Company.
On tho BANJO dag of tho snlo Of thlH property,
and In pursuance Of an arrangement made bofure
tho sale. an agreement in writing, Of which tho
following IL a copy, WIS ontcrca into betweon
Case, Meokor, Hnckloy, Wroun, and Bishop:
Received Ohicago April "a, 1874. of 4. q. Mceker,
t23170.s9; Of + E. Ilinckley, s14 0s5.oi; Of J. u.
Wrenn sas17.18; OF W. " Blshop, t9.817.18. In
consideration OF which, agrco to quit.oaIm to r. IT,
Mccker, twonty to +. f. liinctlcy,
Observation-Disclosures TO j. II, Wronn throe,sl1ty;
Block l5 of tho Canul Trastecs Subdivision Of thc
md Rsngo ii cast Of tho sd r. NJ, being
tile same property purchased by 1no this day
ut public salot lonE the property formerly owne,
twob last furnaces, J. !. CASE.
At tho timo of this transaction,. Meckor was
Preside, mt Hinclloy, Vicc-presidont, Wtonn,
Treasurer, and Gaze, Director Of tho Joliet 1ron
aud Steel Company.
The examination will 10 continued to-day.
and, Judging from tho rate it III progressing, will
be good for a month. Tho ailalrs Ut tho Cons'
nany arpear to DO i'll general STRAIGHT aud the
books and Vouchers entirely satisfactory aB fRl
AZ has yot been shown.