New-York tribune., 1903-03-13
GRAHAMS POLICY DEAD.
Vas Charged With Perjury Z"
Hoffman House Litigation.

Grahanns Policy. for many years well
known figure along Broadway and IN hotei
circles was found dead in bed yesterday at the
HOFFMAN House Death was probably due to
heart disease, from which he had been sur
ferer for several years. He was in his sixty
first year, and up to within few hours of his
death appeared to be in fair state OF health
He appeared in the corridor of the Norman
House in the morning about 10 o'clock and
talked with the clerk. He remarked that his
head ached but he did not appear to be suffer-
irg Soon after 1 O'Clock he found dead in
his bed by a bellboy who had been sent to his
room call hin
Policy was born in Brooklyn. In his early life
he was employed a clerk in mercantile es-
tablishment of which his father the head.
At the death of his brother, David Policy, he in
herited a large of money, and came TO
Manhattan to live. He bought 1900 shares of
stock in the Hoffman House for $f55,Hp, and
became a partner in the business with the
Stokes brothers. He purchased this interest for
10000 cash and the balance in notes. He was
made treasurer Of the hotel company.
A few years ago Policy sued by Miles M
O'Brien as trustee in bankruptcy, to have a
conveyance made ry him of the property at NO
45 West Eighty y-soVenth-St-, and all It's contents
to Mrs. Lillian q. Cavanaugh, set aside as de-
fraudng the creditors. The case was tried be
fore Justice McAdam in the Supreme Court
Under cross-examination Policy said that ne
had known Mrs. Cavanaugh about fifteen years,
and gave the property to her because he desired
to 60 so. He aid that he had expended apCuI
$4,000 in furnishing it After he had trans
ferred It 10 her Mrs Cavandugh moved into
the premises He testified that he had spent
large sums of money for liquor and dinners
and was a high roller"
Justice McAdam ordered the transfer set aside
as fraudulent.
In April, 1899. Edward S. Stokes had Policy
arrested in Brooklyn Oh a charge OF perjury
The notes given by Policy to Mr. Stokes in part
pavment for stock in the Hoffman House cor
noration went to the Knckerbocker Trust Com
pany Payment on them was refused and the
trust company sued Policy He declared that
Mr. Stokes had made false representations IN
selling tho stock and this assertion formed the
basis fCr the perjury charge.
ON December r. 1900. judgment was entered
in the Supreme Court against Policy in favor
of Mr. Stokes for $3S,01S. in an action brought
I.y him TO recover the value of stocks of the
Hoffman House Corporation which he had sold
to Policy but which had not been paid for.
On December 16. 1909 Policy filed a petition
in bankruptcy. giving his liabilities as SIS i"
On December is 1901, after the death of Mr.
Stokes Recorder Cioff refused to grant motion
for the dismissal of the perjury suit On the
following day Policy broke one Of his arms ny
a fall On March 80. 1901, the perjury case WAS
tried the jury disagreeing. ..
on January 81. 1900. Sarah Jane gum, SISTER
of Obta ained reSlEalnlllS iiiii
as her trustees. from selling or dis"osng or any
mart of a fund of $4,000. Sha charged him
with investing nearly all of the fuhd IN bonoS
90 mortgages in his own name. and with ap-
pIying it 10 his use She declared his ma its
were dissoIute and extravnsant, and that ne
led riotOuS life. =,
Judgment was obtained against him. and ne
was locked I'D in the Raymond Street Jail III
RrookIyn for contempt, in failing TO pay heI
90 . y .e ordered bv Justice StoVer. Although
he lived in Brooklyn at that time, he frequented
many places in NewYorh. and was missed from
his old haunts at the time Of his arrest. When
bis friends learned the cause of his absence
they offered aid. but he refused it. He later
obtained his release.
He died practically poor man brother
living in BROOKLYN was informed of his death.