New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-03
SULLY WANTS TO PAY Up.
To Meet Cotton Exchange Claims
Plan Blocked by One Partner.

Daniel J. suI,y and two OF his partners IN he
lrm of Daniel }. Sully & 60. made a suuuel
change OF front ia their attitude ,owaTd their New
York Cotton Exchange creditors yesterday IN the
bankruptcy hearing before Nacgrane s~oAe' '"@
referee. az h5s office, 30 % Wall-st-
when tie bankruptcy proceeding were oFsli'iiis
institute Mr Sullv and his partners FLED written
objections tire CI1iInz Of all theis 'Vi-oh ~
change creditors O.. tno ground ina; Tie price IN
The selling ol cot;ou - the cre>icrs. acuhS as
aeents for ;he sully drm had been wTonSiy iiAeo-
ThrCUch thcif counsel yesterday Daniel ). SuliA,
Edwin 5adiey jr.- and William T. Fagar All mem
1egs Of ;he GrIn Of Daniel J. Suiiy & Co. requested
The referee TO withdraw their objections against
these claims.
This request was made Al 'he continued hearing
before The referee by Edward Harding, OF tie Jaw
firm II Dos PassoS Brothers.
Henry " knS Who appeared for Samuel +. Is.
Morse DE fourth menocr of the frlu vigorously
opposed the Withdrawal of The objections ana de-
clarsd that he instructed to fight la the bitter
eud such proposal Later in the proceedings he
inlimafed that there was something behind Such
a sudden change on the part Of the othe~ members
Of the dru
Counsel for tine creditors who were in attendance
then took hand in the fight On behalf % :. NJ
Weld * Co. ,ottoD brokers. their attorney. + H.
Blanc. asked NJ. COKE thu referee. foT an i'm
mediate ruIial this point. n said that bis firm
had cairI o.; s25l.or) against tho Suily firm ana
that he thought il unfair Tor one partner to object
when Tie others agreed thereby holding up $4,000
early setucme:t for ali the Cotton Exchange
creditors. ard thst !. was only fair and just that
they should b. speedily reimbursed.
He raised the point. and demanded of the referee
a decision upon it, that orc partner IN a bankrupt
firm could not hold up three Other partners when
the Il rec were agreed. After spirited argument
between the attorneys for NJ SUl. for the credi-
tors ana for Nj Morse. the referee decided that MI
Morse's attorney should nave until Friday to pre-
his opposition the removal of the original
objection. Al Plane however. bitterly opposed
this settlement Of the matter that Mr. Coke finally
changed his original decision and fixed to-day u
O'Clock the lni- or time for M King to file his
objection.
1t was then decided 10 adjourn the creditors
proceeded with the trustees examination in the
bankruptcy proceedings
EDWIN Hadiey- Jr a part1e: Of Mr.. Sully, was
the first witness examined by Mr.. Baldwin He
said that all the Providence accounts bad,
ana that in some cases tne debtors had told hin.
pl5inly that they never intended 10 pay.
Mr.. Hadley then asked explain the
Bob" entry in the contract order book about
which much mystery has been spread by Mr. Suliy
at previous hearings To. Mr.. Baldwin's sarcastic
query. he responded promptly that the entry Of
Bob had been made in the books by him. and
was meant TO cover up the real name Of the person
whose account i was namely. James NJ Baker
or washington Mr.. Hadley further explained that
he received orders from Mr.. Morse his part
ners. 70 do this, and that the rea! change in the
book was MADE by of the Office boys. Mir
70 Bob in order TO have Mr. Baker escape paying
the margin due on the account.
The hearing was then adjourned until noon to-
day.