Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1891-10-17
hoEY S DISGRACE.
Tls President of tho Adams Expresi
Company Deposed for Malfeasance in
n0i,o q

Tho President of tho Adams Express
COMPANY Deposed for Malfeasance in
ONCE.
New York, Oct 13.-John Hoey,
president of the Adams Express Com
pany, was on Monday deprived OF
his position as president and
trustee by the unanimous vote
of the full board of managers. Mr..
Hoey was charged with malfeas-
ancc in Office. Clapp Spooner, the vice
president of the company, rendered his
resignation Immediately after the vote
for the expulsion of the president and
the resignation was accepted.
The meeting was held in the after
noon in the Broadway office of the
company and the members of the board
present besides Hoey were Vice-Presi.
dent Spooner, of Connecticut; Henry
Sanford, of Connecticut; Waldo Adams,
of Boston; John A. Herring, of Phila
delphia; w. b. Dinsmere, of New York;
L. C. Weir, of Cincinnati; John Dam
sci, of st. Louis and Clarence Z. Sew
ard, of New York, general counsel for
the Adams Express Company.
1t was during Mr.. Hoey's absence in
Eurore that an investigation was made
which resulted in the action taken
Mono ay. The president of the company
retur ned from his trip abroad Wednes-
day last and was notified the day fol-
lowing that a special meeting of the
boal d of directors would be held, and
his presence was particularly re-
quested. 1t is presumed that he
knew what was coming, for he con-
suited one of his close, personal friends
in the board, and, it is said, sought to
gain promise of support But there
was not single dissenting voice when
tie question came to vote.
Immediately after the meeting
lad been called to order
e member of the board
who had formulated the charges hand
ed typewriter copy to the secretary,
who arose from his chair and began to
read. He had not proceeded for more
than minule 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 pur-
sued. Then the vote was put and Mr..
Hoey was retired from the corporation
where he had labored, man and boy,
for half century. The resignation of
Vice President Spooner was offered and
accepted and the meeting adjourned.
When the news reached uptown it
created profound sensation among
those who were partly familiar with
the affairs of the big express company.
John Hoey began as a messenger and
parcel carrier and was up to this time
not only the leading man in the
express business of the coun-
try, but general favorite in
club and society circles. He is
the occupant and owner of Holly
Long Branch. He succeeded William
b. Dinsmore as president of the COM
pany. The trouble which overlook
him Monday was foreshadowed last
spring in a suit brought by Henry c.
Sherburne against him. Clapp Spooner
and Edward A. Taft were codefendants.
The action was brought to recover
sum of money approXimating $780,
OOO Mr.. Hoey then admitted under
oath that he had been party to a
transaction by which syndicate OF
three men sold property which had
cost them about $4,000 to William B.
Dinsmore, then the president Of
the Adams Express Company.
For this S13O,OOO which they
received from Dinsmore Dinsmore
afterward received from the Adams
Express Company the sum of $3.50, ,OOO
For this property Mr.. Hoey had not
paid cent, but he accepted one-quar
ter of the profit, which amounted tc
S72O,OO His quarter was between
$l79,OOO and S1SO,OOO. The suit was ap
pealed.