The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-06-21
j. ". nAcKAr SUES READ AND STOKES.
Tho Bonanzn millionaire Claims $3.50, 900
MIR. stokes Has n Counter Claim.

Just about year ago. when John W. MacKay
came to town, he began to take UP quarters at
the Windsor Hotel For nearly fifteen years
he had stopped at the Hoffman House. In the
Inst year Mr.. Mackay has given e number OF
dinner parties. They were ut Dolmonico's.
For dozen years all OF MI. Mackay's enter
tanments had been given at the Hoffman
House. Stories wcro started to the effect that
Mr.. Mackay md Edward S. Stokes. tho junior
partner Of the firm OF Cassius H. Road & Co..
propretors OF the Hoffman House. had fallen
out. All OF these reports were denied at tho
time. Mr. Mnckay and Mr.. Stokes, with Others
were instrumental in organizing the CONNER
cial Cable Company. the Bankers and Nor
chants Telegraph Company, the Postal Tele-
graph Company. and number of other i'm
portant enterprises.
Yesterday proceedings were begun in the
United States Circuit Court by Mr.. Mnckay to
recover 1852 597.7 with interest from January
/. 1889. from Mr.. Read and Mr. Stokes. Mr.
Mackay's complaint. filed by his lawyers, Ship
man, Larocnue d Choate. set UP that at certain
vanced the defendants certain sums OF money.
acand that when the count WINS cast up ut that
Nine Mr. Read and pd mr. S,0kes GTed Nj n
The defendants then gave him q promissory
note, agreeing to settle the Indebtedness on
demand. This note was made payable, nc
agency OF the bank OF Nevada in Wall street
The note was made payable 10 Hector De Cas-
tro. friendly 20 both sides. Mr. Mackay claims
that thoro is now duo him on this note the sum
sued for. 1852 5977S.
Mr.. Stokes said last night that Mr. Mackays
claim against Mr.. Read and himself was ridic-
ulouA He said that Mr.. Mackuy really owed
Mr.. lead and himself sT5.uOJ. MIR. Stokes said
further that Mr.. Nlackny, having lost heavily
In the wheat deal Of 1888 came to him and
wanted to raise money. Mr.. stokes says that
at that time he turned over TO Mr.. NIackay 81
OOO.OUO in securities. on which collateral was
to he rai-ed the money due Mr.. Markay for adj
vances and loans made TO MIR. Read and him
sef Mr.. Stokes insists that Mr.. Mackay re-
allied upon this collateral. which consisted Of
securities OF the various enterprises In which
they were Jointly Interested, all OF Mr. Mac
Co. and 100000 besides. M. Stokes said that
he had a receipt from Mr.. MRckay for $25.OOO
OF tht- money. and that for a long time he had
considered the ACCESSIBILITY OF suing Mr.. Mac
kay Tor the balance, $75,OOO
The Farmers Loan and Trust Company. as
10 foreclose mortgage executed BY the Bank
ers and Merchants Telegraph Company In
July 1883. to secure 1900. 900 Of divisional mort
gage bonds. which wore n ade payable in July,
1913. The DEFENDANTS include the bankers and
Merchants companies OF New York New ersey,
PENNSYLVANIA and Baltimore: the nited Lines
Telegraph Company; John W. Mackay and the
Postal Telegraph Cab 10 tomnany 1t was pro-
vided that If the bankers and Merchants did
not nav tho plaintiffs 10000 each year for the
retirement OF ten bonds. and II default was
made in the payment Of interest the plaintiff
was to take possession. Ten bonds OF $1,000
each have been retired. but there has been q
snit to toreclose the mortgage, which Is now
for $gYOUUU.