Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1902-01-03
GIGANTIC COMBINE
Forced to Place It's Affairs
In Hands of Cleveland
Bankers.
CAPITALIZATION $3.50, 900, 900
But He Is Working From Home, as
Are Hanna, Foraker and TayIor--in-
dioations That Taylor viii Oppose
Dick For Gubernatorial Nomination

Cleveland u, Jan. Sine financial
affairs of the Everett Moore syndi-
cate. owning or controlling number
of urban and interurban electric rail-
ways, and an extensive system of To-
cal and long-distance telephone lines
in Ohio and Michigan, passed into the
control of a committee composed of
seven prominent bankers of this city
yesterday. This action was taken,
it is stated. as the result of tempo
fary financial embarrassment on the
part of the syndicate, which has for
some time past been affected by the
stringency in the money market
The committee chosen has been at
work investigating the affairs of the
syndicate, and express the firm belief
that the concern is entirely solvent,
and that its embarrassment will be
only temporary.
Controls Big Interests.
The Eve-ett-Moore syndicate is ac-
credited with controlling more than
1900 miles of urban and interurban
electric lines in Ohio and Michigan
with many new extensions Still in
course of construction.
Among the telephone properties
syndicate are the Guyahoga Tele-
phone company. of this city, with up
ward of 10000 subscribers; the Unit
ed States Telephone company Cong
distance); the Federal Telephone
company; the Stark County COAio)
Telephone company; the Colambiana
County tOhio) Telephone company;
the Peoples Telephone company of
m.
ephone company, and a number Of
others, in which the Federal Tele.
phone company is the controlling fac
tor.
Among the more important electric
street railroad properties In which the
syndicate is largely Interested are the
Cleveland Electric Railway company,
the Detroit United Railway company.
the Toledo Railway and Light com
pdny, the Northern Ohio Traction
company, the Cleveland, gainesville
and Eastern Railroad company. the
Detroit and Toledo Shore Line Rail-
road company, and sthe Lake Shore
Electric Railroad company All of
these lines are declared by the com.
mittee to be, with scarcely an excep.
ton, in good physical condition, per.
tectly solvent and in nowise EN- bar
raised.
The aggregate capitalization of all
the various properties owned or CON
trolled by the syndicate is said to be
about $3.50, 900, 600.
Expert accountants have been en-
ployed by the committee in charge to
examine and report upon the eondi-
ton of all the constituent companies.
No statement has as yet been given
out indicating the liabilities of the
syndicate.
The committee of bankers organ.
lied by elecing II. r.. Newcomb as
chairman and e. G. Tillotson secre-
tary.
Plaintiffs In Suits at Toledo.
Toledo. O., Jan. 3.-The Everett
Moore syndicate, through the Maui
NEE Valley Electric road, is the plain
tiff in three suits in the local courts,
in which it seeks injunction to re-
strain execution ON three cognovit
judgments in favor of King &c Tracy,
for $4.67476; of the Toledo Loan com
pany, for $l3,036.S3, and of the Hol-
comb National bank, for SIS ,526.7S.
The suits are starters of big litiga-
.
alleging fraud, conspiracy and double
dealing. 1t is claimed that King took
out the Judgments, while his partner
Tracy, in his capacity as director,
was attending the meeting of the di-
rectors, and that the company had no
notice of the suit, though an alleged
answer was filed on their behalf
King a. Tracy acted as attorneys
for the company, and, it is claimed in
the petitions, were looking out for
their own interests rather than that
of the plaintiff. 1t is further claimed
that Mayor S. NJ. Jones, A. j. bet
wiler, G.. X. Wiler and George Metz
ger, as directors, knew OF the sale to
the Everett Moore syndicate at the
time the cognoyit notes were issued
but concealed their knowledge, and
that plaintiff WAS not aware OF the ex.
istence of the notes until judgment
was taken on Dec. "a last, when the
balance of the purchase price was
paid and the stock turned over to the
Eyerett-Moore syndicate.
Run on a Cleveland Bank.
Cleveland, Jan. 3.-As a result oil
the announcement of the financial EN-
| barrassment of the Everett Moore syn
/ dictate, run was started on the Dime
1 Savings and Banking company, OF
4 which Messrs. Everett and Moore are
/ directors. All demands were prompt