The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-01-20

MRS. WALL WINS.
Chancellor McGill Allows
Her to File a Claim
Against the Cor
dage Trust.
RECEIVER YoUNG's ANSWER
Transaction Arising Out of the
Insolvency Of the Great
Syndicate.
RECEIVER Y0UNG'S ANSWER

Mrs. Eliza A.. Wall. of Brooklyn. through
her counsel. Mr.. Richard ". Lindabury.
asked Chancellor McGil1 this morning for
leave to file a claim for s400, 900 against
the receiver of the National Cordage
Company Her petition stated that the
mills of William Wall Sons in Brooklyn
We're sold to the big syndicate for 1854. :
800. OF this sum 100000 were to be paid
in preferred stock of the company, and
the balance of the transaction. 1854, 800. was
to be paid in costs. Mrs. Wall claims
hat this transaction was made by a
member of her late husbands firm, Frank
T. Wall, and he permitted. without auth
GRITTY, the Cordage Company to be released
from hat part of the transaction having
reference to the costs. Thi was done,
said Mrs. Wall. without her knowledge.
Mr.. Lindabury said that this stock be-
longing to William Wall Sons had been
fraudulently converted into the purchase
of Boston mills by the syndicate. and
.lost by stock gambling purposes" She.
he said. had been refused any inspection
of the company's books relating to the
stock and its transfer All the actions
of the syndicate in disposing of the stock
of the firm were Illegal. and q part OF a
deal by which she would be done out OF
her money"
We have tried to trace the stock and
are denied the opportunity to look over
the transfer books. We ask your honor
that this syndicate shall open it's books
and permit US to see what has become OF
the petitioners stock"
Counsellor William H. Corbin read the
answer of Mr.. Edward f.. c.. Young, the
receiver of the Cordage Company. which
stated that the old syndicate was COM
posed pos an, Of + foq JT,, firms' vy 9ne 2 Of s Which rS was
firms plunged into the Security Company
and raised s6,000,O0 Of bonds and specu-
m Inins as W's Wen tn as WITH WITH the re rest Mrs no G dividz
were received by the firm Of which Mrs.
The answer set up that Mrs; Wall has
in Brooklyn. which was purchased at a
Vent f into q sec c & c Mnen tns H they
unioaded their bonds In every house on
Wall i Strss5. e EMILY sbsy ts Nat sIssuIrit gor Mills
Company after the. insolvency of the old
syndicate whose bonds deprecated SO
Then the National Cordage Company
went into the hands of receivers, and the
United States Cordage Company contin-
with reference to the purchase of the
Wall MILL" said Mr.. Young, the books
OF the Cordage Company show that the
The personal property Of William Walls
Sons, by their own inventory, was $780,
884.1, and their price of $3.50, 900 was an
Wall had no interest in the firm, and
the real estate of the firm was trans
ferred to the receiver by other parties"
as he is concerned, it was never claimed
that there was a debt due by the re-
ceivers of the company to Mrs. Wall.
bin, argued against the petition, saying
that Mrs Wall comes in at a late hour
| n proposes to tie up the assets and
+ y arQ SS tho Fa0niUar nXaf n ahS11r6 nlQiT
Mrs. Wall. he said. had been treated with
the greatest possible leniency and should
not be allowed to file another claim af-
been paid more than the value of the
mills. n their claim ended against the
syndicate.
Chancellor McGiH, after exhaustive ar
guments by Messrs. Corbin and Linda
bury. decided to allow the petitioner to
file her claim. .Counse will submit orders
| for testimony.