New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-20
NEW.JERSEY NEWS.
NO RECEIVER APPOINTED.
THE AIRING OF THE TROUBLES IN The
AMERICAN GROCERY COMPANY UN-
PROTECTIVE OF RESULTS

AMERICAN GROCERY COMFA>i CN-
PRODUCTIVE OF RESULTS
Trenton. April 10 (speciaD.--Judge Kirkpatrick
sitting in the United States Circuit court 'o-uas'
listened TO argument of counsel Tor receiver io'
the American Grocery Company The peu'ioh was
filed by David Hunt and other stockholders at the
Chambers in Newark on April H. ana 'he ru'c was
returnable here to-day. The application Tor re-
ceiver was warmly contested. and, contrary 10
the usual practice the Court reserVeu uecisioh a.
ter the close OF the argument J. H. Mar sai,'
president of the company. was represented W
Washington r. Williams. of Jersey 'lly al" ~
thur Livermore, of New-Iork, while the interests
NJ tho stockholders were looked after by II. APP
pgton. .
The dissatisfied stockholders complain generally
Of the management OF the company by president
Marsalis. The petition cited numerous instances
in the management of the AFFAIRS OF the company
where alleged incompetency is shown The pen-
ton sets forth that the American Grocery COM
pany has ceased to be a general wholesale con-
Germ. and instead has become a dealer IN sma ma,
specialties 1t charges President Marsais with
had eom ane value Of about $4,000 The
petition also charges that goods were solu uhueI
fallen alsT of under i the present management the
tition says that originally i52 statesmen; mahagrTs
at present a force Of only Twenty-Five men Is en-
poyed. Fully threefourths OF the trade nn d;s
continued to the great loss of the stockholoers;
In reply TO all these charges, fresiuent WA sa,,
goes into minute details He insists that the seveia
transactions cited in the petition were necessary 10
get rid of old stock The losses upon the 8o0ns
thus got rid Of small, the loss upon no In rhe
exceeding $500, and, in many instances S'o me
disca rded Trademarks had ceased to ne OF Nalue.
Economy prompted the reduction OF the lorce Oh
clerks managers and statesmen Statesmen are now
stationed in all parts OF the country, who sell the
company's goods on commission. President MAI
sails saws that he has been thirty years IN the
grocery business and that during that time nc mas
handled $40 OCO 600 worth of goods.
An affidavit declaring that Mr. Marsalis Is com,
petent to conduct the affairs OF the company %
filed by n. W. Taussig OF the n W. Tausslg Con,i
pany owners OF fifty shares OF the nrst preferred
stock of the American Grocery Compam tod Win
CLAYTON a credit clerk, who was associated WIFI
the old hrm the owhyisn,d C0 Grpsagy
Company's business In future as now VIII surely
bring about financial ruin, while Dayton Cross
swears that commission merchants have sold staple
goods for the American Grocery Company Deio"
cost Several similar afiidavits were MED -,
President Marsaliss attorney contended IN me
argument that a mere statement that the company
was insolven.. unable to pay its debts ana tnat
financial difficulties were expected IN tne future
was not sufficient legal grounds upon when me
Court could act upon an application for a receiver
He contended that specific statement was heces-
sary ~ ,,-, .... aotn,
The company was neither enjoined from do i
business nor was the receiver appointed no oay
was fixed when the Court would hle It's declsioh'