The evening world., 1903-06-03
John N. Hoff. of Newark,
Arrested Here orr the
Charge Of Falsely Re.
porting Ills Assets in a
Paint Concern.
He BORROWED. s25o,ooo.
Held in $1,000 Bail on a War
rant Obtained by the Ganse-
WORT Bank, from Which He
Obtained $4,000.


No. 14o Broad street, Newark. N. j..
was Arraigned in Jefferson Market
Court to-day charged by the Ganse-
Bank with obtaining $4,000 BY
misrepresenting his credit. The COM
paint was preferred by Thomas A.
Adams, President of the bank.
Assistant District-Attorney Pechner
cooked after the Peoples side of the
case. He salt to the Court hat twelve
other banks in this city had oanod
money In various sums to the prisoner
upon the same typewriter statement OF
assets furnished by Hon as tina he had
furnished the Gansevoort Bank. Mr..
Pechner told the Court that in this
name the prisoner had succeeded in
borrowing from these banks about
$3.50. 900.
The prisoner secured the postpone
ment Of his execution and was held in
5000 bail. which he secured. c. H.
Becker. of the Provident Realty Cor
poration, went on his ond
Hon was arrested last night at the
Firth Avenue Hotel and taken to the
Chhries street station. where he re-
manned until taken to court to-day.
Il Got $4,000 from Gansevoort.
President Adams. of the. bank. told
reporters that Hon first DO rowed from
the bank 10000 on a statement Of as
sets in which the prisoner set forth
that he was largely interested in a
paint works in o Jersey, and that
.fss financial! assets in his industry
amounted to abou 100000. Within a
few days after making the first loan OF
$4,000 the Gansevoort Bank advanced
q second sum of $1,000 upon the same
statement.
Mr.. Adams would not state what paint
concern the prisoner alleged he was
financially interested In, nor where the
plant is located beyond saying 1t is in
New Jersey. Mr.. Adams said that hese
loans were made to the prisoner about
two years ago, but in speaking to the
Court Assistant. District-Attorney Pech-
mar said that the money had been loaned
during last April.
Detective Rochester, OF the Charles
street police station, who arrested Hoff,
said the man had gon to the Fifth
Avenue Hotel to meet Mr.. -.AdanV and
two or three representatives of other
financial institutions, in ordSr that
they might talk over the matter OF his
alleged Indebtedness to the [Iansevoort
Bank and others, While there he was
arrested. "
Aon's Lawyer Explains.
Mark Alter, in speaking for his client,
uaid tina the other banks mad me- Mr.,
Hon and agreed not to make any i'm
perative demand for their money at this
TO take up the notes as III could prS-
cure the funds. Nj. Alter said that the
Gansevoort Bank had been a party. to
ssIa s ,S sss "a nix IT. si,.od Ho 81 his a.Ff inSsbt asG
Mr.. Alter adde's that Hof was head
Of the g; e N. Rice paint works In
concern up to W years g He said
that the agreement Of the creditors to
allow Hon to AXE time for settlemea ~
irm Of Townsend Dyer & levy. Mr..
Lazy was In court. but made no state
ment.
According to Mr.; Alter. the Ganse-
vas favoring other creditors and
brought- action to force him to a set
MI. Levy. of the frm Of Townsand
counsel for Mr.. Hon, said OF The
charges this afternoon:
Holds stock for Creditor.
~ haSeu IA NY pOcScoSIon Ill unt StOCi
Of the 8. q. NJ. Price Company. incorpo
rated with a capital of 100000. Mr.
eion was the sole owner of this com
pany,' which was started by his fathe
sn.law. the original Mr.. Rice.
Last October Mr.. Hon became imam
cial!y involved through establishing {
developing plant for the manufactur
81 paint OIL at Kearney, ". J. Tht
plant. was OF such value. however, tina
prominent business men advanced hin
100000 on 1t. Then 1t went under ant
=, Mr.. Hon was forced to borrow t.Ss
banks. A. meeting o. the creditors Wa,
called and the entire stock OF the g. ID
Drotec- their interests. The creditor
efgned an agreement extending his Nm,
70 make payment until next Novembsr
There are some fift, creditors In All
among thar s"arteen banks,
=, rSSerstand the: a bookkeeper dis
charged by Mr.. Hon made ali TIL
trouble. He went to. the Gansevor
Hank and said that Mr.. Hons state
ment concerning his assets and liabii
ties was false. On this the bank tool
The bank ought to know that M,
eioR would rather pay up thai 90 4
JAIL Why. I have already paid $40. 90
To one bank and 5000 to another, be
sides settling with other creditors u
th1 extent OF $50, 900, :