The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-01-23
GO UNDER
Chancellor McGill Today
Declares the Dry Docks
Company Insolvent.
SOME CREDITORS CRY FRAUD
Two Petitions Presented and Con-
soIidated-peculiar Note
Transactions.

naar, $50
- - iaIic na
- .nae oay taite q luie ~
WY q ieceieei snouio = -
Au .-ns o' 80
,or r,a-oI Sxsrsss rs,ssa, III
arothar and Cos,sa,1an yss;nl.S n $500
. mia ,nmas 49, aana,aaaant
M Ta,,,er fon M s1,isar h.a
loaned snns 81 aanau 40 nrao,,ssar,,
nofas of tbe oomnany 81 :, tbat ~ aom,
nopy,s l;oh;,,t;a. amo,,n+aa - $500 than
sa5 mo or therea ho,,ts NJ so;d tbot tba.
assets canonr;sinr hooLs dehts ard hills
receivable mentioned and cash On hand
abont "a 5no amounted 3 about s25 MO
leaving = deficiency Of s1o oo
Colonel Bedle in presenting an annlica-
t;on on bebalf ~ Jerome r. c;uatt prast-
dent of the Dry Docks company. I,ititia
G.. G.uett z S Allison. yice-President.
ard the First National Rank of Jersey
CITY. for a receiver said that the bill
filed nv Mr. TAYLOR contained Atatements
which his clients saw are untrue
DO YOU contradict the facts in the
bill? p, asked the Chancellor. and Colonel
Bedle replied in the affirmative. and then
proceeded to state that there are notes.
of the said Allison Dry Dock Company
other than those mentioned in the bill.
but which vo,,r orators believe were
fraudulently issued, and some OF which
at least were not for the benefit of this
company. And vour orators show that
the said notes Were issued without ale
knowledge of your orators, and nom of
them appear on the books of the com
~
pany-
The affidavit goes on to say that nearly
all of these notes NOT shown on the com
pany,s DOCKS are signed by
Treasurer Samuel C.. Allison. and
that none of them are signed
py any other onlcer OF the company ana
your orators are unable to accurately
ascertain the number of these notes or
Then Colonel Bedle gave as further IL
Illustrations of inaccurate allegations in
NJ Tar1a.,s 49, n,,,S.ys4
mentioned therein show large indebted
ness to these clients. which Indebtedness
IS denied by those OF Messrs. Bedie ana
again, they set up hat there are GER
tain notes held by Samuel G.. Allison,
which he claims are evidences of indebted
ness of tho comnanv of witch we have
no knowledge excepting that among them
is a note of the company dated June 3,
is not an Obligation of the company.
That note belongs to the estate of
Michael 6 Allison and is mort ana naroa1
Of a transaction between the estate and
this ompany."
Colonel BedIe said that the indebted
ness Of the ompan as near as could be
the canital staek w,hhiicb l. va de nf This
sum there is about $1,000 Of Bills payable,
and NOT as navah;e ssho1,t so3 s5a "a HThara
IS also . craddyif On the co n os0n Ms h bLke
to Mrs. Henrietta ". AIlisop. wife Of
70 "a ia 20 ~
stunning up. counsel said that a large
amoIlnf IF rents is in arraars IN re
Manor Pal Estate and ,TTri,sf So,nnanv
and notice to quit is liable to be served
OF anv tin3e ~ ran+ a. q oo 70 I've
s.Thsn I tb;nk win 2 coensolidafa hotb
ca,1ses of action reniiied fhs ChanceIior
sanS declare ths canana ~ insoIvent Thas
oneetion is.e'eWbo IL to he the recaive
earSan VIM - ue ie'es
az s,,ogest co1o,o1 parLaro sa;a
Coio,a1 s55oaii, ~ ~ a nlnT 5ald