The Providence news. (Providence [R.I.]) 1891-1906, 1904-06-08
REFEREE
REBUKES
SULLY

New York. June s.--Daniel J. suliy. the
former cotton operator. was severely re-
buked at the hearing before Referee Mac
Crane Coke at ss Wall street yesterday
during his examination in bankruptcy
proceedings
= Melted by suiiy's question whether or
not ne. as the largest creditor OF d. j.
Suily & Co. had any rights. the, referee
answered him.
Mr.. suly was examined by Mr.. Booth
by OF Boothby a Baldwin. counsel for the
receivers. He was asked about the
whereabouts OF 2l4o shares Of the stock
OF the n. w. Reynolds company. These
shares. Mr.. sully testified at former
hearing. were In the name Of his wife. He
was asked today whether the certificates
stood In Mrs. suily's name.
'-Thsy certainly do" replied Sully. 'and
they were transferred to her on June 2.
1909"
Nr Boothby then began line Of exam
ination tending 10 connect intimately the
r. w. Reynolds company OF Providence,
r. l.. with the arm OF Daniel J. suliy a.
CO. The object OF the referees counsel 70
have Mr.. Sully prove how the Reynolds
company's accounts were kept nettled
the fallen cotton operator and he re-
Piled: IT cannot tell you about their ae-
counts. This can tell you: Daniel J. Sui
ly a Co. bought and sold futures Tor the
II. w. Reynolds company"
"oh. you bought and sold for them in
this market
Eyes sir"
where are those transactions 10 be
found"
''In the books OF Daniel ], sully &
Co."
point 20 them, please"
II was here that Mr.. Sully became ap-
parently annoyed and, turning 10 his
questioner, said sharply: II should have
thought that your bookkeper would have
told you about this don't know that
can fnd them"
He was asked TO go through several
pages OF the sully Arms ledgers, showing
the transactions between the Reynolds
and Sully concerns, but the former cotton
king could throw little light on them. He
said that he would have TO go over the
whole OF his books 10 give the informa-
, tion desired.
Sully then turned inquisitor himself He
asked David FL Miller. the receiver. sew
eral questions as 20 how he had secured
certain Information.
''In transactions with the Reynolds
company who bore the loss. II anyY'
asked counsel.
Daniel j. sully & Co. but don't know
that made a loss T"
lis that the best answer you can givef
THAT is good enough, isn't it?' sharp
ly answered Sully
Q-Are YOU carrying on business now
under the name of ID. j. Sully q Co?
A--No SIR.
Q-There is no such firm, is there?
Yes. sir: there Is.
o-who are the members? A.-Daniel
J. Sully. e. F. p. Morse. Edward Hadley
and Mr.. Fagan.
Q.-But your Arm Is IN bankruptcy and
don't YOU understand that the bankruptcy
proceedings put YOUR Arm out Of exist
ence? A.--No. sir. l do not.
Examined further by counsel Sully tes-
tined that l.. c. Weir. president of the
Adamas Express company, had a credit
OF $4,000 but owed $4,000.
The efforts OF receivers counsel TO
show that Mrs. Suny was down as a
creditor for more than 100000 were mis-
directed. Sully said. He explained that
the account In her name was really the
account Of d. j. Sully g. Co. Mrs. Sully's
real account. he said. was transferred to
the name OF Mrs. Lantry" - the day
OF the suspension. because he did not
wish Il TO appear in her real name on
the books.
On the day or the failure, March Is,
Sully stated that the account OF Mrs.
sully. which was entered in the name OF
Mrs. S.. was changed TO that Of Mrs.
I,antry. as he did not want II 10 appear
on the books in his wife's name.
Mr.. Sully was asked TO identify
schedule of debts due the Sully estate
in which the name OF G.. Elder Adams
headed the list 10 the extent of about
$4,000. Counsel asked Sully II. on the
basis OF settlement of March rs there
was not due from Adams TO Sully about
$4,000, sully grew angry. He explained
that amounts were owing both ways.
Turning to the referee the cotton man
satd:
II am the largest creditor of Daniel
j. sully a co. Have I not some right?''
Il certainly have no desire to invade
your rights" said the referee, severely.
But now you ask me. ! will tell you
that when you pa ssed into bankruptcy
you had no right 10 interfere with the
affairs OF the firm any more than I had.
1t was a mistake. too. for you to inter
fere between tho different classes Of
your creditors"
II was announced at the cotton ex-
change yesterday by Superintendent King
on behalf of tho committee on creditors
OF Sully a Co. that all claims should be
in by Thursday OF this week