The sun., 1903-12-08
ODELL'S LONG RECEIVERSHIP.
AS RECEIVER HE'S STILL MOVING
BEFORE THE JUDGES.
And Occasionally as Governor Moving
Juiges-TestimOny About the SOlvency
of the Jackman shoe Manufacturing
Company which Is still In His Hands.

Of the .Jacknlan shoe MnnutacturihB
Company which Is Still In His Hands.
AT the trial before Justice Dugro in Special
Term Yesterday of the suit of McAlpin
against Jackman and others arising out OF
the troubles of the Jackman Shoe Manu-
featuring Company Of Nyack, OF which Gov.
Odell is receiver, George l.. McAlpin,
the plaintiff told how the defendant. Jack
man, had persuaded him to accept 5000
for his s35 600 claim against the Jackman
company at time when the exchange OF
some of the assets of the defunct COM
pany for stock in the United Shoe Manu-
featuring Company was putting the Jack
man company into condition enaphng IL
to pay all its debts in full.
"Jackman came to me in 1903 ten or more
times, testified Mr.. McAlpin. HE told me
that half the time he had nothing Tor MS
family to eat and that Mrs. Jackman had
been obliged to pawn her wedding pres
ents to buy food for the children He said
his children often went to bed hungry. HIS
! brother-in- law, he said, had offered to set
F.. him up in business again If his creditors
would release their claims against nm.
His purpose, he said, was to go to the Phil
! ippines and engage in the fruit business
! there. He told me these pitiful stories so
; often that my sympathies were aroused
| asked what the assets Of the firm were.
| He said they consisted of 600 shares OF the
F! Consolidated Hand Method Lasting Ma
! chinery Company; that it held 2,2oO other
! shares, but they had been given to another
! firm as collateral security for debts. He
| assured me that after the receivers charges
! had been paid nothing would remain,
| Against the advice Of my lawyer agreed
! to assign my claim for 5000
! 1t is charged by Mr. McAlpin that Jack
man put the Jackman company INTO DIS
solution without his knowledge. although
( Rose. McAlpin & Co, held majority OF
the stock of the company as security Tor
their claim against It,
! BY the testimony OF Boston! broker
named William r. hneeland it was SHOWN
that the market price OF the United Shoe
Machinery stock which Receiver odei
sold in October last to A. j Bates 20.
after holding it and his job for three years
was from si3 to s47 a share for coinmon
and s2S to s29 for preferred. Gov odeii
got si3 for the common and SIS FOR the
preferred 10 per cert in cash. 1t had been
higher while he held it.
Senator Charles f. Le1ow, who appeared
for tie defendants yesterday, said: Gov.
Ocieii secured fer the stock about the market
price on the dag it was sold, although he
might have broken tho market by throw
ing all the stock on the market at once.
1t was not to his interest to do that, now
ever, as the Governors fee as receiver
depended on the money secured from the
assets of the company.
There are, it is true, only about 800 OO0
,-b, ,r tha etpnl and the receiver
held as many as Am. In the records OF
the case produced in court was evidence
that Benjamin B. Odell, Jr., was appointed
receiver by Justice Michael II. Hirschbere
of Newburgh, whom the Governor has
Just designated to sit as presiding Judge
of the Second Appellate Division. Per
mission for Receiver Odell to sell the stock
/, A. j. Bates 4 Co. was granted by Justice
William D. Dickey of Newburgh, whose
SON. Joseph Dickey, was appointed mem
ber of the State Board of Railroad Com
missioners by Gov. Odell this year.
The trial Of the case will go on to-day
Mr. McAlpin was on the stand when ad
iournnent was reached.
BosToN, Dec. 7.--Some of the daily sales
Of United Shoe Machinery Company stock
on the Stock Exchange here in 1902 were:
Jan. 2s, I,433 shares of common on rises
from As to 4S5s; GO shares preferred, 291i
and %. Feb. 13, Ito shares preferred
2s1s to 20; SO shares common, As to 4712.
Feb 90, sos shares preferred, 20I to 20,
and 3G5 shares common, 4sH and 40.
April ls, $40 shares common, 40 to 4012
April 20. 2,299 shares common, 50H to 5i
.342 shares preferred 2912 to 80 April 25
l.O7O common, 53H to "a; s4s preferred