New-York tribune., 1900-12-14
col. YoUNGS NOT NAMED.
Joseph NJ. DICKEy AND E. B. DICKINSON
MADE RECEIVERS OF ANGLo-AMER-
ICAN MUTUAL LOAN AND
SAVINGS ASSOCIATION.

IT. f-,.nds NJ Colonel William ]. YounEs, the
Governors secretary, were disturbed last hisne
when they learned that he had iaiieo " appon. t.,
mept AS receiver Of the Anglo-Amerioan Mutua.
Loan and Savings Association. Justice MADDOX OF
the Supreme Court. in Brooklyn, appointed CaP'aii
Joseph NJ. Dickey. Of Newburs, VINO at Presen'
holds the place of Shipping Commissioner : Feo-
eral appointment with a salary OF about sa'VOo
year. and Edward 3. Dickinson as recei'eS' '
Dickinson is a Manhattan lawyer
Attornsy-GeneraI Davies had recommended
Colonel Youngs to Justice Maddox Tor the receiver
ship and this recommendation was seconoea Oy
other friends of Governor Roosevelt Coionel
Youngs fully expected to get the place. he ana
Justice Maddox old personal friends Colonei
Youngs conducted the prosecution or the GuIdeh-
suppe case before Justice Maddox, and they nave
known each other for years.
One Of Colonel Youngss lawyer friends was at
the Fifth Avenue Hotel last night to tell him about
the receivership. To Tribune reporter he said;
This turning down Of Colonel Youngs is a great
surprise. and under the circumstances. Is ikey 10
be construed by critical people in way 10 cause
CToyernor-elect Odell some embarrassment Colonel
Youngs dropped a law practice netting him $4,000
a year to become Governor RoOsevelt's secretary
II was understood that If anything could be passed
along TO him that would assist him in rebuilding his
law practice he would get it. This receivership
was coming his way as the saying goes Some
thing must have happened to-day TO have destroyed
Colonel Youngss chances. Otherwise he would
have been made one OF the receivers.
W. f. Kisselburg. representing the State Attor-
ney-General applied 10 Justice Maddox. In Su-
preme Court Special Term, for the appointment
Of temporary receiver receivers for the Anglo
American Mutual Loan and Savings Association,
whose capital is s20Ooo.OO0 II is desired to wind
up the business of the concern. Mr.. Kisselburg
said that the associa ton was formed in 1891 in
this State as a National buioIng and loan asso-
ciation and that IL had been thought wise by the
State Banking Department of New-York TO assist
so far il properly could in the preservation OF
its business Unfortunately, however, few stock
holders. not representing large amount of money,
had embarra sSed this proceeding. ana aHesed IN
court that II was inexpedient and unsafe Tor the
corporation continue to do business AS the
laws Of New-YOrk State provided for the protec-
ton of the shareholders II seemed best. MT: kis-
selburg said 10 institute this action; ana II mas
therefore been instituted.
W. p. Hornblbwer. attorney for the defendants:
said that the defendants-that is the directors ana
officers of the assOcs ton-did not oppose the ap-
pointment OF a receiver. but they repudlated any
admission that any of the allegations or insolvency
in the complaint against them were true, ana de-
MED them emphatically.
Justice Maddox suggested that the denial be put
in the form of AFFIDAVIT Mr.. Hornblower ac-
cepted the suggestion.
The officers and shareholders of the association
have protested stoutly that the receivershp acton
entirely unnecessary. Recently the directors
decided 10 all It's real estate holdings 10
real estate company m order TO protect us snare
holders from loss. Frederick D Kilburn, state
Superintendent Of Banking. indorsed this plan.