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

APPLICATION MADE TO JUDGE DAILY FOR THE
APPOINTMENT OF RECEIVER FOR THE FIRM
OF BELDEN 4 Co.-THE CAUSE OF THE MOVE
Judge J. F. DAILY yesterday granted an order to
show cause why receiver should not be appointed
for the firm of William Belden & Co. The suit Is
brought by Mr.. Washington Z. Connor one of the
members Of the frm to dissolve the partnership and
for the appointment of receiver and the granting
of an injunction. Mr.. Connor complains that he
does not like the in which the business of the
firm is conducted, and he charges that within recent
period the defendants have transferred to the name
of Henry Belden Dr. about sS50.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 cause 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 adjudiootcd
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
Exchange yesterday communication read from
Washington +. Common. the Board member Of the
irm in which he stated that it was his
desire to notify the Exchange that he had
made application in the morning to the Court for
u
firm of William Belden q Co., of which he
member, for the purpose of efectng settlement Of
differences between the members OF the firm in re-
gard to the distribution OF such assets 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 firm Will
lam Belden a. Co. after that date
This letter caused some excitement among the
members of the Stock Board, and all sorts of
were prevalent on Wall street during the morning
about difficulties existing between theemembers
of the firm. In order learn the truth the matter
HERALD reporter called at the Office of William Bel
den X Co., ana cordially invited by Mr. William
Bclden to enter and then introduced by that gentle
man to Mr. Washington Il. 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
time he had been endeavorng to hquidate the affairs
OF the rm The present difference of opinion, far
as he could see, TO whether he (Belden) to
superintena the winding up of the affairs of the firm
not He did not feel that MIR. Connor had the
capital when he entered the firm. and at the same
time being the junior partner.
CoNNoRs VIEWS
Mr.. Conner, having been asked for his side OF the
firm have been in liquidation that they have
rived at point where 1t requires the acceptance by
all parties interested Of the accounts presented.
This being objected to by of the parties in in
question presenting themselves which would be sat-
isfactory to all parties, he (Connor felt that he
compelled to apply for the appointment of a receiver.
1t merely done for the purpose of bringing about
proper adjustment of the accounts, and he Of
opinion that the matter concerned the parties in
interest only The outstanding contracts, Ae said,
were small and would be met on presentation.
In answer to a question, whether there had been
any talk of recognizing the firm with Henry Beld n.
Jr., senior member both Messrs. Connor and Bel
den gave positive denial