New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-05-07
sully that somebody knew what was going to

suIly that somebody knew what was going to
happen"
Have you any definite knowledge as to who
that was?" he asked.
i lave no actual knowledge. have my
opinion and information. too"
Where did the heavy selling orders come
FROM"
Some from the Waldorf by telephone"
WAS that where Mr.. Ray went after leaving
You and Hawley in the carriage?"
Il don't know; he got out az the waldorf
Witness kept HawIey posted during the morn
ing. Hawley declared he was waiting to hear
from Ray. In response to many telephone calls
Hawley said Ray had not arrived. Witness
told Hawley he did not fear the market if he
could meet TIE o'clock margin call. The mar
ket he'd varied only 10 or 20 points when Sully
went 20 see Hawley at l o'clock. Six hundred
thousand dollars in addition to what the firm
mad in collateral was needed, and Hawiey was
so Informed.
He said he was sorry. but he did not have
the money He had not heard from Pay.
Mr.. Root then read letter received by sully
& Co. from Hawley in the afternoon OF the 18th,
inclosing a check for $S2, APO as his share on
one-third of 80 700 bales Mr.. Sully said his
partner Mr. Hadley. had the check indorseG
and cashed it at the Guarantee Trust Company.
The cash was sent TO Mr.. sully's house, and
later that 'or it's equivalent was turned over
to the receivers.
The examination then continued I'm part as
follows:
Odd Mr. Ray do anything toward making good
his loss on The ; closing prices OF tn the ths
" HTft glu ou - Gsn.r - - =
At Mr.. Hawley's rooms that evening l had made
tcrney had suggested the idea of assignee. The
attorney, Franklin NJ. Cutcheon. mad been IN com
municatioR with li2wey by telephone ana me lat+
ter had suggested Ray as assignee We met ABOUT
o'clock In MI aiW5sX ROOMS; IN can fyse
That was the first / had seen Of him since me
as5gnee was virtu2y deciarati6a Of bankruptcy,
oL DGIiF Raw ot ofFeE 10 heip? AENo He said he
had been locked up with some directors ana co"l1
not sc. away
The witness said he and Ray alone were IN
Joint Account No S" He thought it was start
ed before Hawley began 10 trade with them
Regarding Hawley's connection with the firm
Mr. Sully said he went to Hawley at the latter's
home In Babylon about August and asked him
TO become interested In it. Continuing, he said
thought IT would be a great moral and financial
help TO have a man Ike Air. HaMIey connected
want his to be known but consented TO
having an interest. He was to put in no capital:
bt letter when signed. II simply read that he
suIy & Co, for one year from August l. 1903 Wal
a member Of the firm. He had no interest, be-
cause his relatives objected, but his name was
used with his consent. In January Hawley wanted
another written agreement. No agreement
made however. He did not ask for an ac-
counting. He knew everything the firm did, and I
consulted HIM constantly about the firms and my
financial affairs. Before I went abroad last
7 gave Mr.. HaWley $4,000. In September
Of year he conducted the sale Of about S6C000)
in securities fer me-or for Mrs. Suly, should say
The examination was adjourned 10 next
Friday Il o'clock. the attorneys for Mr..
Hawey being told by Judge Holt that they
would have opportunity TO appeal from the de-
cision 10 terminate the stay In the proceedings
previously obtained by Sully's counsel. Mean
while Sully is ordered to stay within the juris-
dictiOn of the court.