New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-03
MONMOUTH PARK DEFAULTS.
THE ASSOCIATION UNABLE TO MEET The
INTEREST ON ITS BONDS.

PRESIDENT wALCOTT SAYS THE BoNDHOLDERS
ARE WELCOME TO THE PROPERTY A
LEVY on THE OFFICE FURNITURE
The Monmouth Park Association will. 1t is said,
soon become a thing OF the past. The shareholders
have refused TO pay the interest on the first and
second mortgage bonds, and the Township Com
mittee of Eatontown " j. has ordered the sale OF
all the personal property the track to meet the
taxes due. about 81 900.
Alfred f. Walcott. the president OF the Mon
mouth Park Association said yesterday TO Trb
une reporter that the shareholders had lost great
deal of money in the last two years, and as the
stringent laws in New-Jersey precluded the posi-
bty Of making money Of the track. they would
not pay the interest on the bonds. and that the
bondholders could take the property and be well
come to It, He said that the bondholders might
make overtures to the shareholders by which
a better arrangement could be made.
The association on Tuesday defaulted on Interest
due \. c. Monson. executor Of the estate of d. d.
Wthers on $4,000 OF first mortgage bonds, as well
as $4,000 of second mortgage bonds 1t was also
forced to confess judgment n the sum OF Si,5IS
due the superintendent of the track.
BY certificates flied with the County Clerk at
Freehold, ~ j., in January of this year the capital
stock Of the Monmouth Park Association was IN
creased from 100000 10 $4,000 The old stock d.
vided into coo shares OF 500 each, was to be can
cclled, and shares Of 500 each were to be issued
in its pace. The stockholders Of the association, as
given in these certificates were Alfred f. Walcott,
AS shares: Bernard NJ. Shanly, SO shares: John a.
Norris so shares: Lucien o. Appleby, 90 shares
Richard Croker, 50 shares, and J. f. Shanly 20
shares.
The capital stock raised the assumption
that the New-Jersey Legislature would not pass
severe ant!-racing laws.
Deputy Sheriff Carraher yesterday received an
execution against the Monmouth Park Association
for ST. on judgment obtained in the city Court
by Frederick Gerken. the cafe proprietor for rent
of the Offices occupied by the association at NO VI
MadisOn-1Ve.. a. TWent v-seV"nth-st. The rent was
S2loN a wear. and default made on the quarterly
pa ficent Que NoVe.nDer !. 1919, ana others since
then Mr. Gerken also yesterday obtained an at
tacrment against the association for 500 more Tor
the rent due on Nay l. The Sheriff levied on the
Office furniture and fixtures, safes. slverWare,
neld glasses. etc. ut 40. 60 Madison-ave. few
DAYS ago on Mr.. Gerkcu's first claim and unless
settlement Is made the effects Will be advertised
for sale next week. Among the articles found by
tn sheriff CrckmOre's Racing Record but
Mr.. Crlckmore declares that II belongs TO nlm ana
not tn association -,
be formed to take charge of the Monmouth PARK
racag property. Il Is sail that the present dlffl-
cu.,y is only temporary, and that the property VIII
bc returned 10 the bondhOders through a forced
eaie. one Of the leading members OF the Jockey
club Is slated for president and other members
Of that boly are to III the subordinate positions