The Portland daily press., 1891-10-20
HoEY AND the ADAMS EXPRESS.
The Ex- President Opens Negotiations
for a SettIem ent.

John Hoey has resigned his position as
manager of the Adams express company,
and has opened, through his counsel. Elihu
settlement of its claims against him. When
the resignation was received Saturday the
directors who happened to be present In
New York, assembled In the board room and
resolved to take the judgment Of their asso-
ciates on the question Of the acceptance Of
his resignation by telegraph. Every director
was communicated with, and within few
hours President Sanford was In possession
Of answers from every absent director ac-
cepting the resignation. Then Mr.. Hoey
was also informed by telegraph that his
resignation Of the office Of manager had been
unanimously accepted. Mr.. Hoey has never
the agents OF the company since his depo-
sition from the pres idency of the company.
When he has been In the city Ia consultation
with his attorney or with his friend OBrien
OF the Southern express company, the COM
pany has been made aware of the fact with
In short time. For time and until Satur-
day afternoon, bers was every prospect that
an order of arrest in the civil proceedings
would be served on Mr.. Hoey before the end
Of the day. But Mr.. Hoey secured tempo
rary immunity by opening negotiations for
refund of the money alleged to have been
taken and restitution Of the profits" made
by him out Of the company on the purchase
Of the company said that Mr.. Hoey's action
had resulted In all other proceedings being
stopped right where they were except the
proceedings in attachment. These were con-
tinued to all such property as Mr.. Hoey was
including the Hollywood property, only
part Of which was discovered to be in his
name and that part heavily mortgaged. The
officers OF the company were willing to have
the statement published that II Mr.. Hoey
should make proper restitution all proceed
ing against him would be dropped.
Mr.. Hoey was In New York Saturday for
short time, but would give out nothing for
publication and went back to his home at
Long Branch early in the day. 1t is ex-
have further consultation on the
proposition for settlement. Meantime. the
company Is losing no time In pressing its
claim against both Hoey and Spooner. A
similar action to that againts Hoey was
courts Friday with similar allegations,
except that there was no charges against
Spooner In the Babc0ck matter. All Of
Spooner's property, fully 80 pieces was at
tached, and search was begun for such
other property as he might be possessed Of.
Out Of the proceeding thus far taken the
company expects to emerge with its losses
all made whole. 1t is not believed that Hoey
has the ready cash with which to pay the
claim of the company, but it is believed
that he can ind the necessary security for
such deferred payments as may have to be
arranged for. The bric-a-brac and art col
lection of which Mr.. Hoey was supposed to
be the owner, 1t turns out, was taken by
the Dinsmore estate in part payment Of
Hoey's indebtedness to It.
: TRENTON, N. j., October 19.--The Adams
Express Company today filed bill In the
United States Circuit Court against EXPIRES.
ident John Hoey to recover about $3.50, 900
he Is alleged to have misappropriated.
LONG BRANCH, N. j., October 19.-John
Hoey today filed lease of all his Holly
wood property to his son Frederick for IL
years, and also two mortgages on his proper
ty, aggregating $4,000. to two trustees. it
is stated the trust was created for the pur-
pose of securing the Long Branch Bank
against loss upon notes John Hoey may
wish to make.