The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-10-24
IRON HALL AFFAIRS.
Receiver Graham's Report Ready
The Situation in lndi-
annapolis.

PHILADELPHIA. Oct. "a, 1S93.-District
Attorney George S. Graham, as receiver
for the Order of the Iron Hall. has his
report on the orders affairs substantially
ready for fling in court, but there are SO
many details still to be adjusted that the
report will probably not be laid bsfore
the Court until the latter part of this
week. or perhaps not until neyt week,
The lrou Hall Is the most important of
the various short term and uontine order
whose shattered fortunes have been
plaRuing the courts for two years and u
half. aud in some cases will continue to
DO so for several mouths to co me. Estim-
ates as to the amount of mon ey tied up
In the hadns OF receivers appointed by
the courts to adjust the affairs of the, e
various organiz atoms differ widely, but
conservative opinion puts the sum to
about two million dollars. Iu the case of
some orders, legal Qualifications COM
nectei with ths settlement Of financial
affairs penetrate into many States.
thus greatly delaying settlement.
Mr.. Graham has declined all along to
make public the contents Of his report
for the reason that it is proper that the
Court should have it first before il / f.
given out for publication. There are be-
tween 120 aud 1870 branches in Ibis State,
I oU
from 400 J0 TO 50, 900. Some of The mem
oers who went luto the concern only a
lew months before it went under the
control of the Indianapolis court are not
reCar ded as likely to put in claims. Iu-
deed. this general fact holds true of
many OF collapsed short-5erm-
ers. In some cases from ne-quarte to
third of the Total number of members
nave made no claims. The money they
put In has gone to increase the pro rata
share Of the o. others.
The amount of cash in the posses sion
OF Receiver Ora ham is known 10 be about
Sl4O,VO0. Then there are some good
securities. There are others that cannot
Dc converted into none Immediately;
others can be ana the Receiver is doing
1t as rapidly as possibly. Besides the sc
securities. there are many suits in courts,
which may end in judgments for the
order and give more money 60 be dis
triouted. 1t ia probable that the men,
bers will get 30 per cent. OF what they
paid in, this is to be considered only
as an approximation. The chances are
pretty certain. however, that it will not
be above chat. If it were possible to
ascertain absolutely the number of men,
bers whose claims are just and will be
flied then it would be easy enough 90 tell
exactly how much each pc sou would be
likely TO receive. This, however, cannot
be done now, aud indeed cannot be until
a Muster is appointed and the claims are
actually put in and considered.
The following dispatcn from Indsanao-
oils gives the latest version of the situa-
tton out there:-
Public sentiment has become yerv
impatient with the Superior Court, for
The failure to act upon the Iron Hall
case, and both the general public and the
newspapers have demanded that the
great sum, amounting in all to over
Sl,20O. 600, be returned, either to the order
as such -reorganized.S or make the re-
ceivershlp permanent, and bring about d
division of the money among the mem
Ders, whose it is. Now, however. that
the case is set for trial November 6, on its
merits. as If 10 trial had ever been had.
there is some cessation of the criticism,
II two questions TO be decide 1 are
first. is the order ms )lvent; second, is
the order in existence. Tue second is
made necessary by the fact that there are
TWO c~ontendfuR wings, each ing 10
be the legal body. One Is known as the
Macintosh wing, from the name of the
Chief Justice elected at The PHILADELPHIA
meeting; called By SomeSby. The other
is the Wind wing, headed by Nelson f.
Libby of Waltham, Mass, who was
elected here at the meeting called by
Supreme Accountant Walker.
The Court has ordered that the two
wings shall present evidence TO substan-
tiate their claims"