The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-06-04
BANK ACCUSES JOIN n. H0FF.
ALLEGED TO HAVE GOT MONEY
on FALSE CREDIT STATEMENTS.

Hes tho Head OF the 9. u. NJ. Rico Paint
works OF Newark. and Was involved
in tho Failure OF Another Concern
Lawyer Says Arrest Was Unjustinable
John N. Hofs, tho young president Of the
8. E. M. Rice Paint Works Of Newark, one
Of the oldest and largest establishments
Of its sort In New Jersey, wss arraigned yes
tertiay In the Jefferson Market police court
on suspicion Of having obtained $4,000
from the Gansevoort Rank, In West Four
teenth street. He was held In 5000 ball
for examination tomorrow.
According to the court records Mr.. Hon
was arrested on . charge made to Detective
Rochester Of the Charles street police sta
ton by President Thomas Albeus Adams
Of the Gansevoort Bank. The detectives
produced In court In tho Case, Gays that
President Adams charged Mr.. Ho6 with
having feloniously obtained the sum OF
90 900 by means Of q false statement In
writing as to his ability to pay
When the case came up in court, Assist
ant District Attorney Pechner said that
he understood that number Of banks had
lent Mr.. Hon sums aggregating $3.50 900 on
the came representation az that on which
he had obtained the 90 900 from the Ganse-
WORT Bank. He intimated that there might
10 other complahAnts In the Case. Mr..
Pechner aiterward admitted to the reporters
that he had been misled as to the posi-
bility Of other compliments, and President
Adams declined to discuss that part Of the
matter.
Mr.. Hoffs friends say that his arrest
was apparently a piece Of spite work, but
they were unable TO say just what the row
was
Mr.. Hof was arrested on Tuesday night
at the Fifth Avenue Hotel. to which his
friends say he was decoyed by letter.
He was under arrest all that night at the
Charles street station.
David Levy OF the law firm of Town.
send, Dyett d Levy told the reporters that
Mr. Hod married the only daughter of s. E.
NJ. Rice. the founder Of the paint works,
and ten or twelve years ago. when Mr.
Rice died, became the head and principal
owner Of the paint works. Mr.. Hoff is only
SO or 3S years old now.
Mr.. Hoff fathered an Agricultural chemi- :
cal company at Passaic and lost a lot Of
money in the scheme. To carry on that
its failure Mr.. Hoff borrowed something
like 3250,OOO. At least, when it failed last
November he owed about $3.50, 1000.
~Mr. Hoff last November went to his
creditors-there are about fifty Of them.
including fourteen banks-and told them
exactly how he stood. He got them all to
sign an agreement allowing him an ex-
tension Of one year.
Il was made the trustee by private ar
rangement Of the paint works and not only
were the works turned over to me but Mr..
and Mrs. Hof also pledged their personal
real estate to me. Since the trouble Mr.
Hon has succeeded in paying Of $4,000
OF his debts and is going ahead in good
shape.
fifty creditors and the other forty-nine
have nothing against Mr.. Hof. This action
that has resulted his arrest Is the kind
OF action taken by l,eople who are SORE
Were you consulted in this matter or
did you have any warning'' Mr.. Levy
was asked.
Il certainly did not was tho answer
His arrest was very hasty and. to say
the least, ill-advised. Why. the thing
came so suddenly that Mr.. Hof was unable
to reach any New York friend to give bail
for him."
President Adams OF the Gansevoort
Bank was at first very much averse to
discussing the case at all. Later. how
ever. he said that there has been an "irregu-
larity OF statement, but that probably Mr.
Hoff wasn't responsible for 1t and wouldn't
be held 40 very long, anyway. He said
Mr.. Horfgot the tls ,oOl two years ago.
Mr. Hoff lives at lll4 Broad street, Newark.
The Uoifs have no children.