The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-10
A WALL oIREEA rLOI,i,A.
APPLICATION MADE TO JUDGE DAILY FOR THE
APPOINTMENT OF A RECEIVER FOR THE FIRM

APPLICATION MADE TO JUDGE DALI FOE The
APPOINTMENT OF RECEIVER FOR THE FIRM
OF BELDEN Co.-rHE CAUSE OF THE MOVE
Judge J. F. Daily yesterday granted order to
show cause why a receiver should not be appointed
for the firm of William Belden Co. The suit is
brought by Mr.. Washington Z. Common. one of tho
members of the firm to dissolve the partnership and
for the appointment of receiver and the granting
of an injunction. Mr. Conner complains that he
does like the in which the business Of the
Arm conducted. and he charges that within recent
period the defendants have transferred to the
of Henry Belden Dr. about $S5o.oOO of securities on
which the firm has obtained loans to the amount Of
100000 and for that and other he desires to
withdraw from the firm and have accounting and
receiver Judge DAILY yesterday granted the order
show why receiver should not be appointed,
the order being made returnable this morning the
Special Term of the Court of Common Pleas. In the
meantime temporary injunction is granted restrain
ing the defendants from transferring disposng of
the assets of the firm until the matter adjudioated
and the plaintiffs rights in the premises defined.
This injunction. however does not Interfere with the
current business of the firm, which will go usual.
WHAT THE PARTNERS
Shortly after the opening of business in the Stock
Washington L. Common. the Board member of the
firm, in which he stated that it his
desire to notify the Exchange that he had
made an application in the morning to the Court for
the appointment of receiver of the assets of the
firm of William Belden Co., of which he
member, for the purpose of cffecng settlement Of
differences between the members OF the firm in re-
gard to the distribution OF such The letter
also stated that all claims against the firm contracted
prior January would be protected and duly hon.
ored at maturity. Mr.. Conner, however. desired to
relieve himself by the notification from any personal
responsibility for contracts made by the Arm of Will
lam Belden Co. after that date.
This letter caused excitement among the
members of the Stock Board and all sorts Of
prevalent Wall street during the morning
about the difficulties existing between thermometers
of the firm. In order to learn the truth the matter
HERALD reporter called at the Office OF William Bel
den X Co., ana cordially invited by Mr.. William
Bcden to enter and then introduced by that gentle
man to Mr. Washington f. Conner. An explanation
of the trouble having been asked for Mr.. William
Belden stated that for several months past he
DESTROYS OF retiring from the business and for
of the irm The present difference OF opinion. far
he could see to whether he (Belden) to
superintend the winding up OF the affairs OF the firm
or not. He did not feel that Dir. Conner had the
capital when he entered the firm. and at the same
time being the junior partner.
MR.. CoNNoR's VIEWS.
Mr.. Conner, having been asked for his side OF the
firm have been in liquidation and that they have
rived at point where 1t requires the acceptance by
all parties interested of the accounts presented.
This being objected to by some OF the parties in in
question presenting themselves which would be
isfactory to all parties, he (Connor felt that he
compelled to apply tor the appointment of receiver.
1t merely done for the purpose OF bringing about
proper adjustment of the accounts, and he was OF
opinion that the matter concerned the parties in
interest only The outstanding contracts, he said,
were small and would be met on presentation.
In answer to a question, whether there had been
any talk of reorganizing the firm with Henry eld n.
Jr, as senior member both Messrs. Connor and Bel.
den gave positive denial.