New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-04-02
DEALS TN MILLIONS.


to Mr.. sully. were also referred to. Then NJ
Root said:
MIR. Hawley. observe that these stater,.,.,
show a credit Of s65.2O5. Have you received
that amount?"
My profits were about se5.OOO." Mr.. Hawrsv
answered Only my checkbook will tell pre-
cisely. as no ledger account IS kept"
Taking up the fourth of the large oblons a.,
! velopes containing Mr.. Hawley's rnemorand.
Mr.. Root asked: Between the transaction,
closed on January 23 and the transactions not.s
In the papers now in my hand, were Their.
any?''
Yes, answered Mr.. Hawley but I have "a.
the papers concerning it. My profit was \.
| tween $4,000 and $4,000"
Reading from a paper IN this envelo5a NJ
Root mentioned these transactions: Februarv
9, 1000 bales bought and sold: February 10
1900 and LOCO bales: February 20. 11OOO baIa.
IT notice." he continued, "the words .toint 3 a.
| count in the upper left hand corner Of a saris,
| Of statements Of transactions OF several thou
sand bales. There also the figures S41 500.
That. suppose. represents your profit on thoss
transactions"
| Mr.. Hawley, who more frequently gave his
| answers by signs than by words nodded a.
sent.
o.-what was the Joint account"7 Al
| don't know any reason why he kept It that
way.
Q.-WeI1. can't you give US some light on II,
| Al really cannot.
o-who were interested IN this account No.
| D? AIR. Sully. Mr.. Ray and myself
Q-The profits were to be divided? Was it
| not a Joint account" because you were oper-
| ating joint account? Al don't know what
| his object was. Mr.. Suily directed by ma
| 10 purchase so many bal6s oS cotton.
| Q.-Were your orders TO him given orally or
| Q.-were written orders ever given? A-No
| Q.-About the s41 $40. 20 which reference has
been made Did you divide It among the men
vided with Mr.. Sully. He kept his own. Yes
| divided with Mr.. Ray.
| ON this memorandum I now show you dig
| you receive S1O5,2SO? Al assume that I did
| II the memorandum says so. 1 have other
record of It.
| It was observable from some OF the memo
randa which Mr.. Root read that in Mr.. Hawley's
| early transactions with Mr.. Sully the memoran-
DUN which the latter sent him was for Mr.
Hawley alone. but in later transactions the ac-
counts with Mr.. Hawley generally included
those with 3Ir. Ray and were called ''joint three
| accounts"
Taking from Mr.. HawIey's hand the enveIop,
to which he subsequently referred as Pack
| age No. g. Mr.. Root read from papers contained
in the envelope a statement, dated February21,
Of 5000 bales bought and sold for Joint three
/ account" and several other statements OF trans
actions for the same account among them
| 1900 bales bought and 1900 sold on Febru-
airy 10. 10000 bought on February 20. 5000
sold on February %, and $4,000 sold on FebrI-
airy "a There was also. he announced. memo
randum in red ink. OF "S49O6 E. H. S4SO7 T. H
r. 81 9O7 d. J. S. total OF S1472O.
| Odd YOU receive any part Of this S14 20,
/ Al did not receive Il.
| Q.-It was credited TO your account with D.
J. Sully & Co.? Ayes Indicated by nod.
PURCHASE OF 1900 BALES MAY COTTON.
/ Taking up the last OF tie envelopes. Mr. Root
read off memoranda headed Joint 8 account"
| relating to the purchase between March and
| 8 Of 5000 bales. 1O.4OO bales and 200 bales OF
May cotton. and IA. 600 bales CT tie July There
Is also here ar Unsigned paper, which appears
to be a copy Of letter OF March is. headed
d. ]. sully s Co.. and referring to CONVERSE
ton between Mr.. Sully. Mr.. Ray and myself
this morning There is. too. a letter addressed
to T. Hawley. Esq I find. also. Joint ac-
count memorandum. IN red ink. black ink and
pencil: the final entry. IN pencil. being E HIS
check IS 10 SuIly & Co. SS2,43O. There Is also
! a pencil memorandum relating TO 6,1OO bales or
May cotton, and opposite the words. Loss,
| $50 1907 Another memorandum Is marked joint
| 3 account and relates TO the purchase Of 3d.
/ 600 bales"
| Mr.. HawIey identified the March IS letter az
having been written by him TO Mr.. Sully. Mr..
|
statement Of the account in so far as my incl-
viduaI one-third interest is concerned. and
showing a balance due you of SS2420"
| o.-Do YOU know the handwriting Of this
paper form. exhibit :. with notes the pur-
/ chase of 6. 100 bales of May cotton and Closing
and loss. $59,13V'? .A-fes- 49,
| Q.-Whose is it? AIR. TOmkinss, my DOCK
keeper.
| Mr. Hawley declined to make positive rs
Identification Of the signature Of Daniel J. Suiiy
/ to letter in reply to the one sent by h1nlssh
| on March Is He said that he took the sigma
/ ture to be Mr.. Suly's-
/ Q.-You're familiar with Mr.. Sullys handwrit-
| ing aren't you? Al don't know that l am q,
! Q.-You've seen il very often? Awe seen =
occasionally
| ASKS ABOUT TH-- JOINT ACCOUNTS
| Mr. Root wanted to know about the proper
| tionate interests in the various JOINT az
counts" Mr.. Hawley objected 70 this term. sa! ,
/ ing that II not a joint TRANSACTION a. a..
Mr.. Root said that he was not JrylAS 10 Ale'aS
the witness commit himself on this point. DuI "
/ get the figures. -.
man gave his own orders. but there was III
| joint partnership account -.
! Not in the slightest degree. repueu IT.
Hawley. .-,
well. that is a question Of fact that we are are
not trying to decide now. L only want % or
/ the correct proportions in these acCOuHeS- =
understand that in what call NO. . accOuIs
/ the interests were one-third each between Raw
! ley, Sully and Ray, and that in the NO . ~
count the proportions were One-quaI Ter 80
/ for Hawley and Ray and One-half FOR SuIIS;;
Mr.. Hawley admitted that these propOL 'IS-
were correct. In the last pool before SuIy
failure. according to the papers put in eVleeS .5
and admitted by Mr.. Hawley. there were o. Nv
bales Of cotton bought. of which HaWley o. -
dered one-third. and 10000 bales OF wnlch a9
bought one-fourth. a total OF 90.1OO bales. AI.
ne lost $50, 40
r-bo