New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-04
M'KANE'S NAME IN THE SUIT.
ALLEGATIONS MADE BEFORE JUDGE
GAYNOR.
CASE OF THE KINGS COUNTY TRUST COMPANY
AGAINST THE KINGS COUNTY HYGIENE
ICE COMPANY.


AGAINST THE KINGS COUNTY HYGIENE
ICE COMPANY.
Justice Gaynor. OF the Supreme Court Brooklyn
called for trial yesterday the suit OF the Kings
County Trust Company against the Kings County
HYGIENE Ice Company for the foreclosure OF
mortgage OF $4,000 George y. Brewer was counsel
for the plaintiff. and Edward NJ Grout ard Mr..
Hyde appeared for W. p. Legge;t. the rece.v'r ana
George ". Roderck for the defendant MI "ro".
entered a demurrer TO the complaint on the GROUND
that the amount CT the principal was not due INC
Court reserved decision on the question ra'Seu
The receiver in his answer that there j.
no such corporation as the Kings County hysie'o
Ice Company. and that the property In aues''o"
never morgaged. In addition he alleges
That on March l. 1892 John McKane was 9u-
pervisor OF the town of Gravesend where the com
panys pant was. and ned several offices there ''
McKane called himself the owner Of the lana III
question and that he an owner ana Girec'o' y.
the Kings County Trust Company; that Mchahe o'r
a financial business Individually and "a an ofhcet OF
the town OF Gravesend. with the ofhcers OF III,
trust company that Mckane unlawfu.y conDh-u
and conspired win William 6. Person. Johh H.
O'Rourke John Curran, : Stryker williamson
John A. Cook. NJ chae j. Day. r. V r. Newton
and Kenneth r Sutherland to unlawful'y obtain d
franchise for the purpose OF enabling Mckane TO
sell his lands referred 10. to advantage thar 'heS
did FOR the purpose OF sharing Mchaher pro"S
to procure work. to put up the pant ana bulIdihes
and obtain for themselves shares Of stock, ana
delay and avoid pay ing the creditors OF the corpo
ration.
This company's capital stock was 10 amount TO
10000 ana - name the Kings County Hys-
enlc Ice COMPANY.
The receiver alleges that there was secured from
the Secretary OF State license TO open books for
subscriptions to this stock. Those who signed the
certificate signed a report the Secretary OF state
that one-half Of the capital stock had been sub
had allotted to themselves 220 shares uuawtuiy ana
without the payment OF the ~ per cent. Ihey arc
Il r. alleged false Thereupon the 'eitlhcate Oh
ncorpOra ton awarded although the corporation
Iulawfuly established and without the hyla"s
required by the statute
The receiver further alleges that the "so-"aIed
cOnsprator= purchased largely on crcif represent
ing that the property secured had cost Ni"v; az
paid The fact t.. the receiver SAYS that ne as
OF the company never worth nor" tiiaN
$1,000 II is alleged that before the company rei
an annual report anu while me lahi "i.!ulikS
and plant stood I'm McKane's name. and |hil' the
present creditors furnishing materials for me
cor structon and with know dSe OF al Ia - iact7
but who cal themselves the Kings County Trust
Company. agreed 10 aid in he alleged conspiracy 70
issue 800 per cent gold bonds Of 500 elch, pay
able the Office OF the Kings County trust tom
panv The bonds we've received by the latter com
paTy II T. alleged. and mortgage was recorded
after which the trustees delivered thirtys!X u the
nalnder OF the $50. which We're converted 20 their
own use. The receiver alleges. finally. that no one
receiving these bonds has any valid title thereto or
enforce their payment. He says that after the
issuing OF bonds the trustees released one-tenth
OF the mortgage properly 50 that the conspirdtors
enabled 20 the proceeds TO their own belle
IL, The receiver finally alleges that the trustees
sought 10 enforce the payment OF the bonds
unit, suits had been Instituted by judgment creditors