New-York tribune., 1903-07-22
BOND OF $4,000 OR JAIL.
DRESSER'S ALTERNATIVE.
Woman Charges Him acith Concert
ing Merican Railroad Bonds.

As the result OF an opinion handed down
yesterday in the United States District Court
by Judge Adams D. lie Roy Dresser, former
head Of the now bankrupt house Of Dresser d
Co. must within five days furnish approved
security in the sum of $4,000 guarantee
that he will not depart from the jurisdiction OF
the United States District Court pending the
bankruptcy proceedings against him. This BOND
IS required bv the court before it will issue a
etay preventing the Sheriff of the county OF
New-York from executing order of arrest
issued by the Supreme Court in action
brought against Dresser by Mary R. H. Mayer.
who charges Dresser with the conversion OF
fifty one thousand dollar bonds of the Mexican
National Railway Company, deposited with him
by Miss Mayer under trust agreement.
Recently a petition was filed in the United
States District Court by Mr.. Dresser praying
the court 10 stay the order of arrest on the
grounds that he had been adjudicated bank
r1Ipt and that in the event of the execution ol
che order Of arrest he would be incarcerateo IN
the Ludlow Street Jail. and unable. therefore, 10
attend the bankruptcy proceedings wheh re-
uuired.
An affidavit in opposition to the granting OF
sre order was submitted by Charles w Mayer,
Hs attorney for Miss Mayer in whlch ne cnaI se1
4hat Daniel lie Roy Dresser had been gulltS u
<,orI,ereion of the $4,000 worth Of bonds Whlcn
had been placed in his custody under trusC
Increment and that, despite the terms Oh tiIe
g agreement within two days after RECEIVING Tue
xecurtties Dresser disposed of them; that Oh
Trehrusrv Q Mary r. H Mayer deInanoeo Ihe
srafr,rr of the bonds the face value IN money,
.a,S +bat Dresser promised TO return the bonds
and stated that they still In his possess4o%H' %
shat relvine on the promise Of Dresser anu ms
counsel Charles S Mackenzie. that either the
1nonds or their equivalent in cash would De re-
surned no action was then taken; thar suose-
,,reDtlv II was represented TO counsel LOT MISS
Nfaver that certain creditors represehtsu D'
BLACK Olcott Gruber BonyISe MSIe ~ "a -
Aive 100 cents on the dollar on July d 60 -
that provision would be made at tIiaI SItno end "a
4ba yaturn of the bonds. She again oeIeILeo
cJne the case before the Supreme court out
xbe alleges that on July Dresser, on ms own
sT1o+fon was finally adjudicated a bankrupt anu
,7o-Y,onev was paid to the creditors as proILSet;
Morris J. Hirsch Mr.. Dresser S aIIoIHey' 0e H
-.te-dazr afternoon: The facts in the case are
Fiuple Mr.. Mayer was in Europe VIII WIN ~ ~,
D-esser and John W. Young in connection WIN
Inaj1o Tinted States Shipbuilding bonds
Sbroad Mr. Dresser happened to mention the
sSsct that in the hurry of leaving New Aork ne
,,noit.ed TO make provision for certain ophga.
sions Of Dresser & Co. Mr.. Young oneIeu 10 @ IeI
him have the necessary sum- ana caoleu ao @ -
REPRESENTATIVE here TO turn over SoV'uOu ol -
loan Central bonds, Mr.. Dresser Cdo4lIS 70 ,S @
11artner to get these bonds On M. L5 80
1,eturn 10 this country, and betore ne nau -, ilf
500 n make arrangements to repay the ioaIl'
49, Trust Company of the Republic crunnpleu,
80 the United States Shipbunding company
,o.S Tresser e Co. Mr.. Dresser dld not convert
80 bonds for he never had them In ms pos
session. 1t is q case Of debt owed py the
firm"