New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-07
HE RESIGNED UNDER PROTEST
WHY PRESIDENT ADAMS LEFT THE BARNE
CAT PARK Co
GREAT SCARCITY OF FUNDS THE PRESENT CAUSE
OF TRoUBLE-wHAT HAS Become
OF THE MONEY

OF THE MONEY!
The Barnezat Park riot having been brushed aside
the main point now ut issue j.. What has become Of
the cOmpanys funds Lieutenant Farlow said on
MOnday that instead Of finding $4,000 in bank. ~ lie
had expected for he knew that according 10 the books
that the proper balance. he foand only forts i've
cents Then he went on, consulted with pr,,!
dent Robert r. Roosevelt. IT.. Of The Holland Trg,i
Company. which had large interests N the PARK, and
the result that Adams incOntinenty bounced.
Adams-Orson Adams-was then pr sidcnt Of the
arnegat Park Company, invested with the sole power
Of signing checks and guardian Of tie corporate sesL
Lieutenant Farrow, secretary and treasurer Of the
pany thought L his business and his duty 10 look after
tive funds consequently when his books showed
that there funds band u the extent
VI $4,000 and the bank showed that there
only - cents, considerable disturbance en'ued.
The Lieutenant instantly resigned the tressurr,h!p
and Mr.. Adams gave up the presidency. Both resls
nations were accepted on December 30. Robert b.
Roosevelt tr. succeeded Mr.. Adams. Lieutenant Far
retains the secretaryship but there Will be
treasurer to-day. The company holds reorganization
meeting at the park this afternoon. which an effort
Will be made 10 straishten ont the tangles.
\ Tribune reporter called at the office OF the com
psny yesterday 10 learn something Of the bouncing
u President Orson Adams. That act seemed to te
very sudden piece OF business. only the vice pres
dent was inn ". ConklIng. formerly president-ard
he had made up his mind 10 not word. several
reporters had been turned by tEe oft-repeated
declaration
Il do not 10 speak Of that matter
Mr.. ConklnE.7 began The Tribune representative
have but inquiry 10 make. Dr. Mr. Adams
voluntarily resign the presidency or was he forced
out -
Il decline TO answer that question:
Il insist that you do answer it, said voice ira,
came from the region u the door. A tall muscular
handsome man. with full black beard, had entered
in time 10 hear what mad passed.
II you do not that question. he continued
Il will
But how shall answer it, said Mr. Couklug
think we've given this matter publicity enough
Tell this gentleman the truth, and the truth only
| insist upon it. BY declining you him 70 draT
but inference, you convince him that Adams Was
kicked out Of the company. As Adams's friend. can
not stand by and hear YOU dodge thus question
But am in peculiar position pleaded Mr.. Couk
ling. Il don't think it wise to-oh, what do you al:
wise ME to do my lawyeri7
But am not your lawyer
Then ; my friend 30
Answer this ecntlemsn's question. Il you don't
| WILL
Well. SIR said Mr.. ConhlinG. turning to the
astonished reporter. Mr. Adams resigned under pro
test
which said the reporter /" is equivalent being
kicked ont"
-
resigned under protest.
Did he leave any Of the company's funds with the
Holland Trust Company
We have an account there
Have YOU any funds therel'
we have an account there"
Lieutenant Farrow IT is only forty five cents
I'VE shall probably know just how much Il Is 70
day AT the reorganization ecting."
llavc YOU brought any action against the New YORK
Improvement Company -
Not YET
I" DO You think that company has been overpsd ~
Yes. and We have no idea how much work has
done. We have asked for statements but could never
get them The work has never been accepted BY our
engineer but have been paving for IL right
along
Mr. COnkuc Was evidently much worried. lie said
that Mr.. Roosevelt would be reelected president II.
day. and Lieutenant Farrow secretary
y. :. Bailey, manager Of the Newlork Improve
ment Company. said very quietly. In reply To W.
Onkling'S statements:
We think Mr.. Conkling is in error Everything
will be amicably settled 10 day.'
The man that persuaded Mr. ConklinG To TAX Is.
after the Holland Trust Company, the largest creditor
Of the Barnecat Park enterprise. holding a second
mort gage on the property