The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-04-12

the only other person present. The
actly the conversation at the time this
order was given.
The day before the Sully failure
the witness told Sully he would fur
nlsh enough money to protect his,
Hawley's, account. Prior to March
18th, nothing about margins was
done, because it had not been neces-
sary. The market always advanced
after he had purchased, the witness
said.
please tell me what took place on
March H."
Mr.. Sully came to my office to
walk home with me, but returned to
his office. He was to meet me later
at the Waldorf. He said at the Wal
dorf he might need n I told
him I would protect my account"
Did Sully indicate he needed mon
ey, aside from your ACCOUNT"
Yes"
DO you know what he needed
h money for?"
NO"
Mr.. Hawley said that when he
learned of the condition of Sully's
firm, he decided to close his account
ness with a house hat did business
as Sully did. and also because he did
not like the looks of the market.
The witness, Sully and Ray met on
the morning of the failure, and Sully
was told the cotton he held for them
hawley and Ray, would be trans
ferl ed to another house. w de-
cided to give him up" said Ny. Haw-
ley.
Sully took the pools cotton ut the
prevailing prices Of the night before
rather than transfer the account tC
another house.
The witness said he considered thl
ToucberS for money receive from
sully ard Company as receipts fol
partnership profits in certain speci.
fed deals. Others might call them
PC OILS or anything else. The arrange
ment and understanding with Sully
was that any party to the deal could
sell as he chose.
What do you want to go on record
IS to your understanding of the words
the voucher you signed?" asked Mr.
Re OF.
The witness answered that he hac
re understanding about it; that !
might be ~variously interpreted
"AnG you a member of the STOCK
Exchange for ten years." ~eiaculatec
Mr.. Root.
:toint contracts are various:y inter
| p1eted," said the witness.
Julian T.. Dawes. the witnesses law
| yer, objected to his client answerins
the questions directly. contend ms
| that however the question might b.
answered. 1t might be detrimental t.
Mr.. Hawley's interest.
The. commissioner directed that tn
question be answered.
81 don't van to put any construc
NJ --
"IS that the way you want to g
on the record" Mr.. Root asked.
well, joint accounts differ. n
understanding with Mr.. Ray and MI
Sully was that / vas not in a jcir
account at all. My interest WAS sep
arate and distinct"
Mr.. Root read to MI. Hawiey eN
cerpts from a letter written by IN
witness, in which he referred over hi
signature to the "joint three account
statementh. The witness also sal
he used the term because he prohabl
had seen il on one Of the statement
given him by Sully and Company.
II show you" said Mr.. Root, "
Joint three statement ~concernin
SO. 1000 bales. Now. if your interaS
was distinct and separate. it woul
he for only 10000 bales, would
not?"
II don't know anything about it
Mr.. Hawley replied
Mr.. Hawley said Sully never tol
him that sone one would have I
fail. and that he. Sully. might as we
be the one. Neither did he hear Su
" say he needed a million and
quarter.
At this point. J. r.. DosPassos. Su
ly's personal counsel and other attor
neys. announced that they might r
quest ~privileee to examine Mr.. Hav
lev. The commissioner replied tn
any such participation accorded the,
would he as a matter OF privilege an
not of right.
Adjournment to Anril Is was ~
nounced.
Daniel ]. Sully gave out for prhl
cation TO-DAY q 'ettar of this dat
written to the special committee
his creditors in which he aSser
that the offers for a settlement he h
already made are the very hest n