New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-05
RECEIVER GREENHUT OUSTED
JUDGE GRossCUP SAYS THE COURT WAS
IMPOSED UPON
crNrp.r. 1ouN e MNULTA AND JOHN J.
MITCHELL APPOINTED TO ACT WITH hh-
r-rrvrP IAWRENCE-GREENHUTS
METHODS DENOUNCED.

METHODS DENOUNCED.
Chicago Feb Ain the United states CHcu.'
Court this morning Judge Grosscup removed 1oSeP"
Gresnhut from the receivership OF the Wh'sHes
Trust and appointed John c. McNu.ta ana Johh o.
Mitchell to act with Mr.. Lawrence, who was ap-
no,nted receiver when Mr.. Greenhut wa" APP
noin,ed General McNuta will be the principal or
directing receiver He OBLIGATED in that capacity
during several years for the Wabash system Vi ran
roads In delivering his opinion judge "iVs'up
took occasion to score stockjobDins u'ee'o's "a
CORPORATIONS and declared that Mr.. Greenhuis ac-
ton in applying for a recevership was Simply d"
imposition upon the Court Judge Grosscup aSD
,e 4, due 10 himself TO declare that the action OF
the Court in the first receivership proceeuihsS "'
not unusual or improper. The opinion OIL .ie NU1'
Is long and goes into the condition OF ahd'i9 %
lea I'm 70 the recelvership The Judge mas 'ha'
49,, s,ass ,aml, that a receversh!p is necessary
and the question rs merely as 10 the pe''0'"'' -
the receivers. He continues;
The admissions OF counsel upon the hearing uis
close that but a small proportion OF the o''T ras1
H so OF Certificates instead Of representing sabsia
tia ownership Of the properly OF ,e m naved the
came Of speculation Il Is probably neSesSsiyl r m
such game should have far ana nn excte my
pMage ,h Uot as wou.d that OF and women whose
real investment was tied up IN TINS P'0Pe'"'
Tho Cour, then goes on to deny that there was
ANYTHING In the first appointment OF receNe'' -
that attenled tlc PioN'N"9N
was either unusual or improper THE apphea"o'''
~ ssys "was necessarily made out OF court ana
,,,hout notice otherwise It's presumably 'ee'"
mate nurpose nigh; have been deiea'e"
No, only the right but the duty oil inc ~ !
keen the proceedings unreveaied uht' '"eS "a
reached their destination In the once d. onr.
BUT this does not relieve the case OF ce''A'''
s,dera,,ons OF which shall now SPEAK
49,. na.,ares that a stockholders appoint
,.n. "a a raceivershp should be preceded by 'me
most careful and thorough scrutiny 'ii'o ..' IT,
ITO, and personal antecedenis ana in'eies's' ~
Court then proceeds to pay us Respects ~
Greenhut as follows ,,.,oso thu, Mr.
cresnh,t at the time OF his apPontmeni Ta xchange
an agreement upon the No% io,n ~ The stock Of
S cnnanany and he not the possessor h %. an
OF them In such situation ne Of the
arss cut w HsG ms Be to Sonserve he
AS and enhance its valve; as private M,-
p,Sps his interest was to deprecate IT'S vd.us.
der such circumstances Ms r,eslt5on upon the
he need Of the day In corporate anas IL dpa ~
ayers VINO s,ch men viii never be found as long
as stockholders permit them 10 ga'nO'c ''''
am Se,srnnine so far as possible 10 nave
searching inquiry into the AFFAIRS o. M ,be nriyae
the Dny ha sa's whcS Is intended only for ne oca
hands For these reasons shall remoVe r wi
any ofcal or faction In the COMPANY anu him
by his experience in IKE siuaeh , PIof ne the rep.
reHentave Of Court upon whose men h 'e
win a nniyer rst the s"r peoSers
Their large interest in the assets ,n,'H aSe e1.
nad sba therefore associate with the principal
receiyer a man whose appointment VIII De aeiee-
S a ia NTH the administration of the Trust
An order may be entered IeniosInIS ~ W. Vitrb
ana aPp pc, along win Mr. Lawrence as receivers
GENERAL McNu!ta Will be regarded as the principal
! receiver. .,, =, IT..
borne az n receiver who would be acceptable TO the
Nav. York stockholders was Ignored by the 'o"'
| because. as he said. he wished NOBODY to Dc re-
| ceiver who was at all interested In the STOCK. Al
Wsck representng Messrs HensheImer and Worn
ser Inc signers OF the petition for r,ceiVe,sUnp
a. he nroceedings Judge Grosscup refused TO heal
| the matter and told Mr. Mack 70 come tomorro" row
morning before the opening 0. the Debs tr.a!. anc
make his explanation Bonds for the receivers were
fixed at $500 go each. Mr. Greenhut VIII no. pe u's
Charged from his bond until after be makes repor
! OF MS acts during the time he was a receiver
General satisfaction was expressed in Wall Stree
yesterday over the news from Chicago that Presi
| dent Cr.enhut OF the WhIskey Trust. had been re
| moved from the receivcrship by Judge Grosscup
| No surprise was expressed. There was plenty o.
| surprise shown when the man who had systema'i
| cslly mlsma mayed the company was appointed ont
OF its receivers last week. and when the news came
Yesterday every one seemed TO think that the Judg'
| had simply seen his and had recuhed IT,
The news had immediate effect on the stocl
| market The stock a, once jumped from g. at whici
II closed Saturday. to 81. and then to lol.. ]
| then went down. ana remained throughout the day
at about ga. The dealings In II were rot large
John / Waterbury. OF the Stockholders Proec
| tive Committee. received word BY private wire
| from Chicago yesterday morning that Judge Gross
| cup had ousted Greenhut he was naturally muci
| pleased He could not Say whether any proceeding
| could be taken against Greenhut on account Of hi
testimony on SATURDAY. particularly in regard t'
| his spec ula ton In the stock Of the Trust.