New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-04
THESE TRUSTEES MrST EEFCND.


TIE WILL OF GEORGE 8 HrcKER
Gt5rse psirim Smith. NJ referee. who vas ap-
u,i,,ef ID pass upon the accounts " the trustees
n,scr the VII o, George Y Hecker. tho wealthy
c.ur merchant. W., G'cl On February Il. 1855 has
mad. A, report {, ~. Supreme Court. IN which ne
d,...rcs that Do ~. been conpeli to md that
three - To trustees under the VIII aci-d I'M
properly n receiving AL appr1 prlai'ns TO iAe.7
'vyn use certain shares q stock tho Hecker-
Jon,sJeacl Mi,rg Company. and are haoe
therefor 10 iAe Infant heirs. with Interest
rua.r IA. term. 81 the NIL = George Y. Hecker.
re directed the executors ant trustees to continue
the business ior three years. tbs was done unier
N. managemert Of John V Hecker. josiah Went
worth anI Edward + sey.r. rs The trustees.
The otts. trustees unfSr the W.. we're Frederic H.
coule,, All George F. Hecker. jr Mr. Couiert
c,yt give no personal attention to the business.
Ia, vrs named a 'rIste, Tor the purpose 81 CIV
l,~ advice TO the other trustees In eSa capacity
Before the three years expired the business was
transferred 70 thc George V Hecher Company
watch had been formed with a ca2i hllzaton OF
s. 20 coo soon after this Thomas \ Mcintyre re-
solved to br.ag about combination OF Al the
nour mills In this section. ana obtained an option
f,r the rurchas- 81 the George Y. Hccker 'oni-
rary FOR $4,000 cash. lie made an oHer - the
officers Of The company that. Instead OF cash
navmcnt the stockholders shoI.d accept bonds ana
preferred stock IN the new corporation that was
u he
Nas.rs uecker and Wentworth should remain as
oncers In the ncw cooperation. AMI he PROMISED
10 give them $4,000 In common sock II ms ar
-,nc.nen, was carried out As soon as sewn
v,s informed that he not to BE- taken Into the
new concern ne called upon Mcintyre and tod hin
,Aot he had been IN the business for years ana tnat
something should he done for him, as he con-
,roucl 4 part OF the subscription which Mcintyre
y,a sfer n, then obtained from Mcintyre a
,ror,,so that he ehoull have $500 In common
s,,c, IN the new corporation Under these conii-
,ions the property OF the Hccker Company was
transferred TO the new CORPORATION The fact thai
u,ssrs Hecker Wentworth ana Slevin were 10
,.c,i,c Offs OF common stock. although mace
tnov'n 10 the adult hcn"ncaries under the VII Oh
C.,rrc Y Hccker never brouSh, 10 the AZ
,e,,io, ~ the suar,.ians OF the infants VINO were
Hart nor To- the court. when the application was
made Tor the transfer Of the property 10 inc ne"
,(e.trs urcker and Wentworth received theit
mock In September. 1892. and. together WIN me
lnlders Of 500 out Of ZOO shares OF stock agree
TO pool their holding - rs to keep mem rom ' n
voorrkc, This arrangement has been continued up
r. tho present time. Scvin received ms - saoSh /"
January 1893 and sold II al; rea.iZis N'o'Sp- ~, M
,rhe referee says that Mcintyre gave thls s.oon
IN these trustees FOR the purpps" OF "p'al'lnf -
modification 81 the original option. when rs}u',e
rim 10 nav 81 10000 cash In order 10 GET thr i'vhv
nrnperty and FOR the purpose OF securing tnrl'
sssrvces in the new corporation The trustees sup
nosed that they had right To receive the S.p p
and keep IT, but said that II 1t was f0unn 'na' my
had acted Improperly they were "'"s " MANY
restitution.