New-York tribune., 1891-12-20
THE HOEY CASES SETTLED.
ALL TIE MEN INTERESTED ARE RETIcENT.

ITs SUITS AGAINST ITS FORMER rlsfSipfNi'
Rumors were current all last week that a
settlement of the controversy between the ADAMS
Express Company and John Hoey the former
president who was discharged from his office by
the directors OH October IL, was imminent Inc
discharge was followed. il will be remembered, Dy
the institution of numerous suits and o'her
legal proceedings, by which it was sought to re-
cover large sum of money which, it was al
leged Mr.. IIocy had during his connection with
the company wrongfully converted to his own
use, in violation of the rights of the company
The rumors were declared by Mr.. IIoey to be
without his knowledge, and the attorneys in the
case refused to make any statements The rumors
excited some public comment. directing the at
tention OF tine Dstric-Attorney to the situation
as suggesting an approach to the compromising of
felony
Yesterday it YVES announced that settlement
had been made, but beyond this statement
the interested attorneys refused to say anything.
There was no meeting of the Board Of Managers
of the Adams Express Company, but at the office
it was said that Henry Sanford, who succeeded
Mr. Hoey as president had not been there at all
in the day.
Leopold Waaeh, counsel for Henry Sanford,
said There has been complete and honorable
settlement, satisfactory to all parties. Everything
has been explained and every one is satisfied.
The suits against Mr.. HOey will he abandoned, the
attachments lifted and the lis pendens discon-
tinued. Further than this, can make no state
ment."
A. j. Dittenhoefer said There has been
full and honorable settlement OF all questions, en-
tirely satisfactory to Clarence a. Seward and
Leopold Wallach, counsel for the Adams Express
Company and to Elihu Root, John f. Burrill and
for Mr Nr
hoefer declined TO make any further statement.
Elihu Root also declined to go into any details
of the settlement which he said had been arranged.
Mr. Seward declined to be seen, because he
:" too busy" but his clerk said that he would re-
fuse to make any statement regarding the settle
ment.
Mr. Burrill was not at his Office yesterday, and
it said thot he was not well. No information
could he obtained at the office of the Adams Ey.
press Company.
1t is said that there would be no need of
meeting of the directors of the Adams Express
Company to approve the settlement Henry
Sanford, the president, Frederick LovcjOy, vice.
president, and Clarence A. Seward had full
authority to complete one.
Mrs. Josephine IIoey, wife of John IIoey. has
transferred to Henry Sanford, the president of the
Adams Express Company, the lot and house at
second-st., subject to Il mortgage of $50 900. for
nominal consideration The deed recorded
in the Registers Office yesterday and the popular
opinion is that this is included in the compromise.
On October IL John IToey was discharged from
his Office rs president Of the Adams Express Com
pany by vote of full meeting of the board of
directors or managers, as they are technically
termed. The discharge was made on the ground
of alleged malfeasance The case had been can
vassed by Henry Sanford large shareholder,
who was elected az Mr.. IIoey's successor, among
the directors, and formal notices had been sent
to the directors prior to the meeting The action
Of Mr.. Sanford wz caused by revelations in
suit brought in April in the Supreme Court of the
State before Judge Ingraham by Henry Shcr-
burne against John IIoey, Henry Z. Taft and
Capp Spooner, for an accounting in deal by
which the New-York and Boston Dispatch En-
press Company and the Kinsley Express
Company had been sold to the Adams Com
pany The plaintiff alleged that he had not re-
cevcd the sum Of So, 800 due him the trans
action FROM the testimony in the case MIR. San
ford reached the conclusion that the Adams Com
pany had been swindled out of a large sum OF
money by the purchase of a property at an ex-
cessive price.
On October 16 a suit was begun before Justice
Patterson in the Supreme Court by the Adams
Express Company to recover S1l2,ooO % from
Mr. Hocy, which it was alleged he had emnezzleu
and appropriated to his own use Another charse
was that in / $50 he collected Sl6O4o 81 from the
estate of Isaiah c. BabcoclS, at one time treasurer
Of the Adams Express Company, who died In
debt to the company, and retained it Tor
his own Uses This sum was included in
the frst-named amount. Frederick Lovejoy, who
was made vice-presidcnt of the Adams
Company in place of Clapp Spooner. whose resig'
nation of that Office accepted, signed the
affidavit upon which attachment was issued
against Mr.. iIoey's property. The ahldavN
charged Mr. Hocy with having prior to March 10
1882, either individually in connection wi'h
other persons acquired interest in the BUSINESS
of the New-YorlS and Boston Dispatch Company,
the Kinsley Express Company and the un'oh
Express Company, for tn sum OF S'@,oV'. oh
March 25 it was alleged, Mr.. Iioey sold and trans
fcrred this interest TO the Adams Express Com
pany for S35O,ON0 thereby appropriatlng S2'6.-
00j to his own and that Of others in fraud
of the riebts of the said Adams Express Company
and in violation OF his duties aS an Ohicer tnclc-
of and "A trustee thereof.
The affidavit then charged that Mr.. lloey. prior
to March l.? 5sS, in connection with other per-
SONS acquired the remaining interest in the com
Danies before named for $4,000. On that day
h, transferred his interest 70 the Adams Express
Company for 100000, receiving S42o'Ooo Tor
his own use in violation Of his duties as an officer
and in fraud upon ihe company. The company
demanded in all the, sum Of S1l2,g5O 3; with
interest on S216.9o5 from March 25 1882, on
S42O 900 from March IL. 1885, and on Sl6,Oi5 %
from February /, 1885.
Suits were begun by the Adams Express Com
pany in New-Jersey, and attachments and lis pen
dens were filed by the company against the Holly
wood property Of Mr.. IIoey, near Long Branch.
President Henry Sanford told the story in these
proceedings, and in them another charge was
made. TO the effect that Mr.. IIoey committed
breach of trust in procuring 100000 from the
Adams EYp,css Company to take up "a, loan
safe Deposit Company Of Philadelphia. or
about April 30, 1886. Another suit brought on
November IL accused Mr.. IIocy Of the wrongful
conversion Of 900 shares OF the stock of the
Southern Express Company. 1t was alleged that
L L. In L,.. linh Inhn