New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-09
THEY gorEo THEMSELVES BIG SALARIES.
suERIFF-ELDcT GoRMAN CHARGED WITH CON-
spLRAOY AND FRAUD IN TRYING TO
WRECK A COMPANY


WRECK COMPANY.
The case OF william r. Flero. ex-United states DIS
as the stockholders Of tho Hydro
Carbon Gas and Fuel Company, with an Office formerly
at No. 2O6 broadway, against John J. German, j.
woolsey shepard and Henry A. bradley, rs trustees
~ the company, alleging conspiracy and fraud, par
,icIarIy on the part Of the president, MI. G0rmaI
the successful Tammany candidate for Sheriff, came up
for hearing before Judge DykInan In White Plains
Yesterday rhc was adjourned several weeks ago
nj the reauest Of Mr.. Gormans counsel, because II
onid he detrimental to his clients interest TO try 1t
at that time.
The defendants during the last three years were
Tho only trustees OF the company and also It's officers
and managers Mr.. German being elected president and
treasurer Mr. Shepard secretary ana MI. Bradley man
acer Inv their own votes. In June, 1885, Is Alleged
they voted themselves salaries as follows German as
president $4,000; shepard as secretary, $4,000, and
as counsel 81 ,OOO and Bradley as manager, $o'ooo
AZ the annual meeting in February. 1887, they made
their salaries s12 OOO $4,000 and sl2, ooO respective
10 In MAY 1888 the salaries were again revised,
President Germans being fixed at $4,000; secretary
Shepard s6 OOo and Manager Bradley, $4,000, and
vice presidents Office was also creaed AT salary OF
"a OOO-all OF which, it is alleged, was 10 violation OF
the trust imposed as trustees
Tho nlaintia also alleged that between June 1885,
and January. 1856, Mr.. German converted $4,000 Mr.
sbonard 40 600 and Mr.. Bradley $4,000 Of the COM
panys funds to their own uses for which they rendered
M services There Is an Indebtedness against
the company Of $6s 900, although since June, 1885,
the receipts have been but $4,000 and the company
has no property whatever except its patents. The
plaintiff asserts that it the intention OF the officers
to get Judgment against the company ana thus e'entu
ally get It's patents and wreck the corporation.
The plaintiff declares that In 1887 the trustees and
one George H. smith organized the so-caled Bradley
a. Western Gas and Fuel Company, had themselves
elected officers and transferred to 1t the exclusive right
to the use Of patents for the States OF NewJersey.
Illinois, Ohio. Wisconsin, Michigan and Indiana, re-
ceyng therefor 900 of the capital stock OF the
company, which was divided as follows: German,
sos 900 Shepard 5000 Bradley. $4,000, and the
IIydroCarbOn Gas and Fuel Company S5o,oOO. For
the stock taken by themselves, 1t alleged, they gave
no consideration to the defendants corporation al
though 10000 In cash was oncred ior LILO use VI 'o
patents for the State of Ohio alone.
The plaintiff also alleged that German owns but
five shares of the capital stock OF oooo snass anu
Shepard seven shares and that they Kept themselves
I'm Office by German voting on 2632 IL shares OF
Bradeys stock on power OF attorney gwen III 1880,
although In 1888 Bradley revoked IT, MI bradley
now unites with Mr.. FierO In bringing the SUIT lot
conspiracy and fraud against Mr.. Gor1nan ana sif.
shepard. The case was adjourned for two weeks LOT
further hearing