Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1891-10-13
HOEY'S DOWNFALL.
The Longtime Head ofAdams
Express Dishonored.
RETIRED WITH A sULLIED NAME

A Little Deal That Was All ON One Side
Fifty Years of Efficient Service Ruined
by One Transaction-A Scheme by
Which He Put $4,000 into His
Pocket Very Ensily-A Unanimous Vote
for Immediate Removal.
NEW YORK. Oct 13-John Hoey, presi-
dent of the Adams Express company, was
yesterday removed from his position as
president and trustee by the unanimous
vote of the full board of managers. Mr..
Hoey was charged with malfeasance in
office. Clapp Spooner, vice president of
the company, rendered his resignation,
which was accepted. 1t was during Mr..
Hoey's absence in Europe that an investi-
cation was made which resulted in the
action taken yesterday. The president of
the company returned from his trip abroad
on Wednesday last, and was notified the
day following that special meeting of
the board of directors would be held, and
his presence was particularly requested.
1t is presumed that he knew what was
coming, for he consulted one of his close
personal friends in the board and, it is
said, sought to gain a promise of sup
port.
Close of Career of Fifty Years
Whether this promise was given or not
is not known. At all events there was
not single dissenting vote when the
question came to a vote. Immediately
after the meeting had been called to order
q member of the board who had formu-
lated the charges handed a typewriter
copy to the secretary, who arose from his
chair and began to read He had not
proceeded for more than a minute when
President Hoey got up and left the room.
He 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 pursued
Then the vote was put, and Mr. Hoey was
retired from the corporation, where he
had labored, man and boy, for half CEN
tury. The resignation of Vice President
Spooner was offered and accepted, and
the meeting adjourned
Had Been Party to n swindle.
When the news reached uptown last
night it created sensation among those
who were partly familiar with the affairs
OF the big express company. The trouble
which overlook Mr.. Hoey yesterday was
foreshadowed last spring in a suit brought
by Henry c. Shurburne against him.
The action was brought to recover a sum
OF money approximatiDg half a million
dollars. Mr.. Hoey then admitted under
oath that he had been a party to trans
action by which syndicate of three men
sold property which had cost them about
$3.50, 900 to William B. Dinsmore then the
president of the Adams Express company.
For this SI90 M north hax-
Dinsmore. and Diusnore afterward re-
ceived from the Adams Express company,
the sum of $3.50, $50.
Hoey's Share of the Doodle.
For the property Mr.. Hoey had not paid
q cent, but he accepted one quarter of the
profit they made, which profit amounted
to S529, 600. His quarter was between
Sl19, 600 and $4,000. The suit was ap-
pealed. The plaintiff and defendants were
interested in the New York and Boston
Despatch company. 1t was the suit which
partly led to the investigation of Mr..
Hoy's official acts.
Began a Messenger.
John Hoey began as messenger and
parcel carrier, and was up to yesterday not
only the leading man in the express bust
ness of the country, but general favorite
In club and society circles. He is the oc-
CuPdut anu oNuor VI Iloiiy "oOu, une pa
latial summer home near Long Branch.
He succeeded William B. Dinsmore as
president of the company. A gentleman
who is in position to speak officially
says that the company Is just as solvent as
ever. The stock is just as valuable and
its position is stronger now than it ever
has been. The interests of the stockhold-
ers have been and will be fully protected.
Mr. Hoey had a salary of s30, 600 year.
WILL CONTINUE HOSTILE