New-York tribune., 1896-12-04
THE TROUBLES OF HAMMERSTEIN.
COUNSEL FOR HIS CREDITORS DEPICTS HIM
AS IN SERIOUS sTRAITS-HIs REPLY TO
THE PROPOSAL OF A RECEIVERSHIP.

The financial affairs of Oscar Hammerstein were
the subject of argument before Justice Smyth in
the Supreme Court. yesterday. when NJ. r. McGolu-
rick made an application for an appointment OF
receiver for Mr.. Hammerstein. and for the con-
tnuance OF an injunction restraining him from dis
posing of his property. The application was made
on behalf OF A. NJ. Byers Co.. iron pipe manufact-
urers. who have an unpaid Judgment against Mr..
Hammersten for s. 900 and are seeking to set ASIDE
transfers of property made by him to his wife ana
other members of his family.
Mr.. McGoldrck said that the property transferred
By Hammerstein was worth nearly x2,OOO0W. and
the consideration only few dollars on each
deed In the last two weeks number OF Hammer
STEMS creditors. who represented claims OF Sfoo"o
against him. and his personal representatives ana
counsel sad been in consultation several times IN
an fort TO come to settlement. and avoid the
appointment of a receiver Hammerstein's total In
debtedness exclusive of mortgages on his house ana
theatrical property amounted TO s'J.VvV' Inc i'"'
lem Opera House and olympia Theatre were mort
gagged for about $,4o0.Wo. and the unpaid taxes
the Harlem Opera House amouh'eu ~
$4,000. A large sum due as interest on the
mortgages In addition to these claims. he said
Hammerstein's s residence was mortgaged Tor s-'Vo'
At one Of the creditors meetings MI. Mc"oiu'io"
said. Mr. Iammerstein offered TO settle me ciaiiS
against him by giving six and twelve months TS
which would be indoTseI by his wife and son. ms
offer refused Al subsequent meeting ~ fiali, III
mersein made proposition to give moitsases Oh
of his property TO secure his creuitors' All"
this offer also refused: .
General II. A. Howard. Mr.. Hammersteln couii.
sell in opposing his application said that .it tie st
meeting of the creditors a proposition was SUNNI,
ted. which still under consideration ana wouIu
probably be accepted next Tuesday. Inc credltorss
of Mr. Ianmerstein. who charged that ne han
transferred his property for fraudulent purposes,
overlooked the fact that he still retained properly
al Nos III and li3 East One-hundred and twenty
ffth-s sufficient meet all his debts and opiisa-
toDs and still leave 10 him handsome sulpius
They not In position to ask Tor receiver,
therefore. as they mus first exhaust every o'"''
legal resource ,,,..-
Mr. McC;oldriclS offered to consent to adjourning
the motion In case a settlement might be reached IL
General Howard would agree to the appointment OF
a receiver II the negotiations failed. nut Ju3tlne
Smyth said he would decide the case on the am
davits before him. and took the papers rcserVlhs
his decision
Oscar IIammerstein was in an indignant frame or
mind Yesterday over the i-trcatment which ne
saws that he has received at the hands or the CITY
officials and others His anger was particularly
aroused by the letter which was read before the
Police Board in which his theatre was referred TO
by Billy McGlory. Mr. Hammerstein declared
that IL was wrong read such letter wnen IL was
anonymous. Had IL been from a taxpayer or from
any one who could have been Identified. ne sad he
would not have cared so much. as he couId thcii
have answered. He angry that he coud
that they amounted to nothing, and that ne coun
pay them all In trce If he wished, Dut nv h'.
that they We're unjust. and he intended 10 contest
them Recurring to the abuse he had come in Tor,
he made the remark that II II kept up ana ne was
pcrsecuted In such manner he would smut up MS
big amusement house and go TO Europe re de-
clared II he to the conclusion to quit that ne
would lease IL He would let II stand idle
and allow the people to miss him. He was In just
the frame OF mind TO do it, he said