Telegram-herald. ([Grand Rapids, Mich.) 18??-1892, 1891-10-14
JOIN HOEY DISGRACED
Deposed From the Adams Express
Company Presidency
PYA DECISIVE VOTE OF DIRECTORS
Charges of Malfszsanes In Once Result
Ia Eis SEMINARY Retire msst frsM
the High Positios-How His
Nroag NJ a. Dstscfsa-

NEW 1SEA. tel. lo--JOuu ncSys
president OF the Adams Express Com
pany, was on Monday deprived OF
his position as president and
trustee by the unanimous vote
Of the full board of managers. Mr..
Hoey Was charged with malfeas-
ance in Office. Clapp Spooner. the vice
president of the company. rendered his
resignation Immediately after the vote
for the expulsion of the president and
the resignation was accepted.
The meeting was held in the after
noon in the broadway office of the
company and the mem bers Of the board
present besides Hoey were Vice Presi-
dent Spooncr. of Connecticut; henry
Sanford. of Connecticut; Waldo Adams,
OF Boston; John A. Herring. of Phila,
delphia: w. Is. Dinsmere. of New YORK;
L. c. Weir, of Cincinnati; John Dam
sci, of st. Louis, and Clarence L. Sew
ard, of New York. general counsel for
the Adams Express Company.
1t was during Mr.. Hoey's absence in
Europe that an investigation was made
which resulted in the action taken
MONDAY. The president of the company
returned from his trip abroad Wednes-
day last and was notified the day fol-
lowing that special meeting of the
boar of directors would be held, and
his presence was particularly re-
quested. 1t is presumed that he
knew what was coming. for he con-
suited one of his close, personal friends
in the board, and. it is said, sought to
gain promise of support But there
was not single dissenting voice when
tie question came TO vote.
Immediately after the meeting
had been called to order
& member of the board
who had formulated the charges hand
typewriter copy to the secretary,
rho arose from his chair and began to
read. He had not proceeded for more
than minu,e when President Hocy
got up and left the room. lie was
very much agitated. After the reading
had been finished the member who
acted as accuser spoke bitterly of the
president and the course he had pur-
sued. Then the vote was put and Mr..
Hoey was retired from the corporation
where he had labored, man and boy,
for half a century. The resignation of
Vice President Spooner was offered and
accepted and the meeting adjourned
The board will be called to-
gether again to-day and the question of
filing the vacancy will be discussed.
When the news reached uptown it
created profound sensation among
those who were partly familiar with
the affairs of the big express company.
John Hoey began as a messenger and
parcel carrier, and was up to this time
not only the leading man in the
express business of the coun-
try. but a general favorite in
club and society circles. He is
the occupant and owner of Holly
wood, the palatial summer home near
Long Branch. He succeeded William
IL. Dinsmore as president of the CON-
pany. The trouble which overlook
him Monday was foreshadowed last
spring in suit brought by Henry c.
Sherburne against him. Clapp Spooner
and Edward A. Taft were codefendants.
The action was brought to recover
a sum of money approximating $780,
600. Mr.. Hoey then admitted under
oath that he had been a party to a
transaction by which syndicate OF
three men sold property which had
cost them about $3.50, 900 to William L..
Dinsmore, then the president of
the Adams Express Company.
For this $780, 900 which they
received from Dinsmore Dinsmore
afterward received from tho Adams
Express Company the sum of $3.50. 900.
For this property Mr.. Hoey had not
paid cent, bet he accepted one-quar-
ter of the profit, which amounted to
S72o, 900. His quarter was between
$4,000 and $4,000. The suit was APP
pealed. Z The plaintiff and defendants
were interested in the New York &c
Boston Dispatch Company. twas this
suit which partly led to the investiga-
ton OF Mr.. Hoey's official acts.