New-York tribune., 1902-07-08
THIRD STEEL SUIT BROUGHT
BEGUN TO FORESTALL ANY DEcrs1o,
ALLOWING STOCK CONVERSION

Trenton n J.. July CSpeciaD-Papers war. a.,
in the Court Of Chaneery to-day in a new .T,
against the United States Steel Corporatio, 49,
object Of which like the litigation now psns,-s
before the Court of Errors and Appeals is 20 IS
vent the carrying out of the proposed plan Of 60
veTting S20N 000.O00 0f preferred stock into .r -.
amount Of bonds. The complainants are A+a aa'
wall Hodge. Bernard Smith William H Crr,,-r
Franklin W. Hopkins and Allison R. Hopkip, ~
two latter constituting the New-York Stool r -
change firm Cf Hopkins Brothers. Curtiss is -,
dent OF New-Jersey and the others are residents !.
New-York o'
The new suit differs from the other action,
that the present compIainants are holders % 49,
preferred and common stock. representing in a.
26Go shares Of preferred and 100 shares OF co.,
mon. while ]. F. Morgan & Co and Others -,
Joined with the steel corporation as defendants
Nfce-Chancellor Emery allowed a tenporarv t
junction restraining the conversion pending Sss-
Ing on rule TO show cause. returnabIe before r.
in Newark on July Is
The Court OF Errors and Appeals nat =, -.
ference to-day. bur on account of the abselcs o,
Chier Justice Gum"ere and Justice Van Syck.1
did not consider the steel cases already before !,
out nXed September 70 as the date for the NV.
conference. One of the justices said after tn
conference that he considered il a safe predictio,
that no decision would be given before September
The new suit is believed here to have been t,s,
tuted with the object of anticipating any possibl.
action which might have been taken bv the Co...
Of Errors and Appeals to-day TO set aside ~. a
junction already in effect The charges in The hin
are generally the those in the prsS,CLI on,
suits. ~ P'0NtOus
One allegation is that a large portion ~ -
votes cast IN favor OF the plan of conversion uva,
contrlputed oy stock brokers in whose name sror-5
carried on margin stand, but who were NOT tHs
real owners or the stock the consent of the Isttsr
IL is charged, not having been obtained ''
William H Curtiss came into public notice =,
January, 1900 when he was elected treasurer ss
the Third Avenue Railroad Company. He had been
private secretary OF William Rockefeller and s,c
cessful efforts were made by certain Wall streAt
operators to create from that fact the impression
that the Standard Oil interests had come into The
Third Avenue road, then IN dire financial =trat,s
A little later came the Third Avenue receivsrSbj-
and the acquisition Of the system by the Narro'
polltan street Railway Company and since tbs1
little has been heard of Mr.. Curtiss He could NOT
be found yesterday. Franklin W Hopkins IS
Hopkins Brothers. was seen at his ONCE No x
about the suit. any INNS
asked. NU' was
II don't know" he answered IF answered. VIA.
question should be guess ng. just as you would
be guessing II you answered III - 4-'A
Who are your attorneys asked the rAoorta-
- don't know
You don't know who your own ATTORNEYS ara
IL have been away from the CITY and have
Just got back" he answered.
NO statement concerning the suit could Re oh.
tatned from J. p. Morgan e Co. One p1s7 nror1i
nently identified with the United States StasI Co.
poration said that II about time 10 ex1act \
rreSh suit, adding IN answer TO pointed OIsSrfo--
\ ou ought 10 be we'll able : we ~ -fJa1tify-
the interests behind most Of this litigation