New-York tribune., 1902-12-04
Ho4DLEF WANTS ATTAcHHENT TAc4TED.
OPPOSING COUNSEL DECLARES INTERNATIONAL
POWER SIMPLY PROMOTING COMPANY.

OPPOSING COUNSEL. DECLARES INTERNATIONAL
POWER SIMPLY A PROMOTING CoMPANT.
Application was made 70 Justice I>eventritt in
the Supreme Court yesterday by Reed Simpson.
Thatcher & Barnunl. attorneys for the Interna-
tional Power Company and Joseph H Hoadey.
who its president. TO vacate the attachment
granted recently by Justice Fitzgerald against the
company and Mr.. HoadIey in an action brought by
John Z. Plummer to recover 81 0O0.ooO which he de-
ciares was promised TO him by Mr.. Hoadley for
raising the necessary capital to finance the Amer-
Locomotive Company. a corporation promoted
by the International Power Company, which pur-
chased the plant and goodwill of many locomotive
companies throughout the country in 1901 The
defendants also asked that a bond be given OF at
least $4,000 instead of that given by the plaintiff
when the attachment granted.
Counsel for the defendants contended that It had
not been proved that the International Power Com
psny was a foreign corporation. He also asserted
that it shown that Mr.. Hoadley had any
such authority as that alleged by Pummer. and
could make no agreement with him on behalf Of
corporation to give him fee of sl,o6o.o1 Coun-
sci further asserted that Mr.. Hoadiey never made
any such contract with the plaintiff. He therefore
asked that the attachment be vacated, and that,
If II be upheld, the bond given by the plaintiff be
increased to at least 100000.
Plummer's counsel John r. Dos Passos. said the
certificate incorporation attached 10 the plain
tiffs papers clearly proved that it foreign
corporation and incorporated under the laws of
NeW-JerSey.
This international Power Company said Mr..
Dos Passos, lis of those companies never
known in Wall Street until recently, and commonly
designated formation companies 1t is of the
same character as the Northern Securities Com
pany. without capital property of any kind,
which simply promotes some other company and
takes over and handles the stocks. / sincerely
hope shall more of them. They cannot
get along without money, and some person VINO
has influence with capitalists has TO be employed
to raise the required capital When a man like
the plaintiff has succeeded in getting the money
wanted he is thrown down and his contract is
repudated. 1t cannot be argued that Hoadley had
not authority make this agreement with my
client He was the president of the corporation,
and was acting within his sphere OF duty and
carrying out the purposes of his organization when
he asked PlunmeT to raise the capital and prom
ised to pay him, and we are bound to assume he
acted within his authority
The circumstances surrounding this company
were so peculiar, continued counsel we could
| not tell whether would even be able to seize
| the Office furniture. but 1t seems made good
| haul and got than viii pay our claim OF
| Se0 COO as we attached between $3o00.0o0 and
/ s4ee0O00 of stock. We are willing to allow the
defendants sell the shares at any time provided
| they deposit the proceeds in the hands of the
| sheriff pending the determination of this suit.
Justice Leventritt said the certificate of incor-
poraton attached to the papers settled the question
| as to whether the defendant company was ror-
| eign corporation. That would leave TO be con-
| sidered only the question whether the complaint
set forth facts sufficient to constitute cause OF
| action. Should he decide that was so he would
| fix the bond about $4,000.
| Dos PassoS said he would De Sdtisheo 10 give
| a md