The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1891-10-14
B BIG SENSATION
r-,,t,d By tho Deposition of tho
pr,aldent of Adams Express 90.
fFrER FIFTY YEARS SERVICE
r,, r,o,rd UnanimOus In liavOr of Ills
ucmoyal ...propcrty Which Cost
Sl3oOOO lie Sells to tho Company
crSs5G, ,00O.An Honorable Career
s,l,caly Elishtcd.

yrw Yom;, Oct. l3.-The dismissal OF
p,r.iIeu, John IIoey, OF the Adams En-
moss Company, came us complete sur
mise TO ;he business community. Many
mel. prominent in business affairs did
rot hear Of the dismissal until to-day,
although the decisive action was taken
he ,Ae Board OF Directors ut n meeting
held late yesterday afternoon. Vice
President CIapp Spooncr at tho same
p,eglias handed i'll his resignation.
no,h men ar. charged with malfeasancc
in office.
TheallegCd maIfoasance in Office for
which President Hoey was removed
and Vice President Spooncr allowed to
rasj,n WIS the sale By the two officers
arIo,hcrs OF the Boston Despatch En-
nn.s Company and the Kinsley Ex-
srass Company to the Adams Company
i5- .,lJOyt. 4 meeting OF the Board OF
Directors OF the Adams Express Com
p2ay was held here to-day. Henry
Slaiorl was elected president and
Frederick i.ovejoy vice president TO
succeed lIessrs. lloey and Spooner.'
SANFORD has been connected with the
cJ!apauy i0r tie pGs: four years and
was 1t one time its General Suporin-
,cndcnt. lie is al old resident Of
Bridgeport, Conn.
l.oycioy WAS ior a long time superin-
;cnlcat Of the Pennsylvania division OF
the Adams Express Company. Presi-
dent Sanford ut once assumed charge
gal appointed Alessrs. Lovejoy and
p.a.moTc as . committee to inquire in
70 the financial status OF the company.
l.r. D!nsmorc said the matter OF Mr..
lI9py's connection with the company
was not mentioned beyond his being
asked TO resign his office rs director.
Nothing was said about bringing suit
a,ainst him, and in fact nothing was
done beyond the election OF officers.
The directory rs it now stands is us fol
lows Henry Sanford, Frederick Love
: ioy, l.. G. Weir, ". ?. Dinsmore, Clar-
rnce \. Seward, William 4. Dimsell, ].
40 Herring and John Iloey.
Twas during Mr.. Eiocy's absence in
Europe that an investigation was made
which resulted in the action taken to-
day. The trouble which overlook Mr..
lloey to-day was ioreshadowed last
spring in suit brought by Henry G.
SAeF6nrne against him. Clapp Spooner
a'dE.!waFd \. Taft were co-deiendants.
VIZ lloey admitted under oath that he
had been 4 party to q transaction by
which 4 syndicate OF three men sold
lfo!erty, which had cost them about
SGlcDO to William B. Dinsmore, de-
reaSe,l, then the President OF the Adams
i&?tcss Company. For this Sl3O,OOO
worth OF property they received from
!iGsmorc, and Dinsmore aiterward re-
cclred IRON the Adams Express Com
lany the sum OF sS50,000. For this
property Mr.. lloey had not paid cent,
brthe accepted one-auartcr OF the profit
iGey made, which profit amounted to
$4,000.
Nr. lloey had been notified of tho
sicc!a! meeting, and his presence was
laFtIen!arly requested. 1t is presumed
That he knew what was coming, for he
consulted one OF his close personal
friends in the Board and sought to gain
apFomisc Of support. There was not
single dissenting voice when tho
question came to vote. Immediately
alter the meeting had been called n
member rose and read the charge
"-alnst the President. He had not
iecG!Gded Tor more than a minute when
resident lloey got up and left tho
room. lie was very much agitated.
NJ. lloey has been with the company
;oF half a century. As President he
ras DeeA drawing q salary OF $4,000 q
A.