New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-07
FOR FINANCE COMPANY RECEIVER.
Charges Against Mulholland, Money Lender,
Repeated in Suit.

Action was begun yesterday in the United states
Circuit Court. asking for ancilary receiver Tor
the International Finance and Development Com
pany by Hugo Eysell. of Kansas City. Mo- and
H. H. Field of Phillips. Mo The former asserts
he is owner of sIO4so0 of the capital stock of the
International Finance and Development Company
and its creditor for s5.20 additional far cash al
vanced Mr.. Field declares he is the owner OF
s175OO OF stock.
The corporation had a New-York Office at No
42s Broadway. An application had been made
the petition said the Court of ChanceTy OF
Delaware on August :, asking for the appoint
ment Of a receiver, while William Mulrheao Oh
this city. complainant Thomas r. bayaru
was appointed receiver with bond OF <Ioo'Vo1
The bill filed by Muirhead declared that John
Muholland was a loaner of money 10 cIeIhs anu
others on notes having his principal Office Ia
this city and seventy-fve offices in cities through
out the country 1t charged by MuiFLedu
that NulholIand issued bonds supposedly secured
by notes. for an equal amount deposited with
trustee the notes being the security on "iiIA
Nulholland had advanced money. II "dS a.
legged however that no such notes were ever ue-
posted. The Muirhead bill Of complaint me-
asserts that in 1902 MuIhOlland had outstanding
81 10000 of bonds and that he then had liC'i-
porated the International Finance ana DeEeiop
uent Company. transferring 10 II LOT $o'VV''''
the common stock the goodwill Of his money
lending business and that the company agreed
to nav all OF the 81 800 600 of the OUTSTANDING VI t-
holland bonds and exchange 1t WnIbolIand and
which il had agreed to pay -. % .r,,,+
NTirbead charged that ne was the owner OF 49,
nine hundred shares Of the preferred stock out 10
when after six months possession. ne 90
with the company. payment as pF01NIu{yu -
was refused en- the grounds that no tu.1S 49,,
avaiIabie The officers and directors OF tlt -
many 50 Muirhead alleged, 'wllfully ana -
ientiv wasted the assets of the COMPANY go -,
after he deposited his stock for redempt ~
thousands Of dollars paid out purpOrIlH.s ~
earned dividends It is further alleged l.t 80
land was the controlling factor OF the company It
that the Officers and directors were persons W'nI 1
financial interest in the concern MuITleel 80
aiiaged that NuIhOlIand elected himself presldent
81 The company and Immediately after us Lot M
IT,, is Iiractors controlled by Mulholland IN luIn
Iaa sed hack to its president the enre nloiLey -
nc business being thereafter simply the lessons VI
Mulholand. -, s,.-.- - tho Nfrirhead
hill ~ cor1plaint in Wilmington second OIL
died nv II H Field and twenty or more -, -
holders asking permission TO intervene: Muir
tbat on August Z after filing his com $500
head transferred his interest In the sun 70 r9i
I'D an August Is MulhOlland resigned as pIeI-
5snt and Hugo Eysse was elected NJ .+i-o1r
TIrner was made treasurer and b l. FeIuhsIe"
secretary. - - r,a,-srcDrnert Com
-ar- yesterday filed its answer adIillt AZ
f9cts charged to be and joining IN Ile : 49,
ton for the appointment Of receiver "a Dill
tJair renresented the company. ana James y, In
~ No p Pne-st. the complainant 1 m I
- ie understood that Thomas r Ba|ara VIII Oe 1P
nonted receiver in this district