New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-09-17
NO BOOKS, SAYS SHEEHAN
RECORDS NOT FOR HIN.
Parker'S Lieutenant Tells of HIS
Business Methods.

vestment had amounted to S1.OOOOO0. and that
all the account of the transaction he had ever
| had was kept on memorandum slips in his desk.
were among the remarkable statements made
! yesterday at a legal reference by William f.
/ Sheehan
! I never kept books in my life" said the for
mer Lieutenant Governor
The hearing was in a private room az Demo
cratic national headquarters, the time and place
/ having been set by Mr Sheehan. He evil
| IDENTIFY under high mental pressure. and several
! Of the small number of attorneys present de-
cared it was evident that the strain Of the
| campaign was telling on him greatly. He asked
! that the examination be made rs brief as possi-
! bic. "Our candidate and Governor HiH and Mr..
| Murphy are waiting for me- he explained.
Mr.. Sheehans statement that he never kept
books in his life" caused much surprise those
who heard of it afterward, in view of his prom
/ inence and his reputation for business ability.
other we'll known men who Will testify in the
/ case will include II IS expected. former Govern
! ors OF States United States Senator'S and for
| mer Cabinet Ministers.
The case has to do with the affairs OF the
! Albany and Hudson Railway and Power Com
| pany, Incorporated in 1899. The company. after
/ its formation. began at once the building OF
! Of the first and largest third rail electric rail-
reads in the country. It runs between the city
=
nine miles In August 1902. there was a
( rible accident on the road. caused by collision
/ Of two trains filed with pleasure seekers. in
| which a number were killed and a large number
! seriously injured The corporation was indicted
for rnansaughter 1t pleaded guilty and was
/ fined 5000.
! Actions for damages We're begun not long
afterward, and before they could be tried
| the road went into The hands Of receiver
/ in a foreclosure action, and afterward sold
/ at public sale one Of the Judgment creditors
/ John Doyle throug.l his attorney. Samuel B.
| Cofin OF Hudson. began an action for the Sc
| questraton OF the property and effects Of the
railroad company and for the appointment OF a
receiver. and on June l3. 1902. Charles "
/ Bostyyick cashier OF the National Hudson River
J Bank. was appointed. and immediately began an
| investigation
He discovered that the receiver In the fore
| closure action. brought b. the Colonial Trust
| Company OF New-York. in which action the
/ road was sold had collected about Ss.uho % the
assets Of the road earned prior 70 his taking
possession as receiver. had deposited them with
his receivership account and mingled them with
! his receivership moneys. aad spent them as re-
! cetver in payment OF some Of the Old debts of
/ the road MI BostwicH tried for some months
! 20 get an accounting Of The other receiver ana
/ finally applied for permission 10 be made a
! party 10 the foreclosure action and force the
! old receiver 70 account for his acts Justice
I Cochrane grapted the motion ana raoe MIN d
rart, 10 the foreclosure action. and ordered the
! old receiver 10 account. and appointed John g.
Dardess, OF Chatham. the referee to take and
state the account That accounting has been
! proceeding since that time. At one Of the hear
! inrs in Nevr-York city last summer. among
! others examined were r A c smith. II u.
! Ruukle and G. II. Werner. one Of the arm or
! Sheehan G Collin. Process servers tried IN
successfully for some time previous 20 that hear
| ing in New-York 10 get service OF subpoena on
". F, Sheehan.
The hearings were brought especially in the
/ interest Of Doyle one Of Doyles children was
! killed IN the wreck. ana another was hurt as
also we're Doyle himself and his father-in-law
/ He got judgments OF about $4,000. The total
/ amount OF damage Judgments obtained FOR
/ deaths and injuries is $4,000 The deficiency
judgment OF foreclosure Is about $L3ooOW
| Counsel for Doyle and the others contend that
| II they can show that Sheehan and the others
| interested in the company received STOCK or
par value far IN excess Of the amount they pald
/ in such unpaid balances on the stock are the
assets or the old corporation. Yesterday eX-
/ animation was conducted by ex-Judge J. Rider
/ Cady, OF Hudson. assisted by Mr.. Coffin and H.
| c. Henderson of New-York. Mr.. Blakeslee was
/ represented by Louis 3. Grant, Of Sheehan &
! Collin, and Frederick J. Collier Of Hudson
| Mr. Sheehan regarding his S25OOoO invest
ment, testified that he was unable 70 tell
| from whom he bought the stock or bonds or
! what he paid FOR either. or whether he received
| the stock as bonus for the bonds vice versa
! He said he was associated in the transaction
with A NJ. Young r. A. c. Smith and II. G.
| Runde He could not say 20 whom he gave the
! $3.50 600. but OF the opinion that he had
! preserved his checks and check stubs He told
| ex-Judge Cady that he would produce these.
When the road Incorporated the directors
named in the certificate were. most Of them. law
clerks in the Office Of sheehan & Collin They
| made contract with George G. Blakeslee, who
| is the receiver in the foreclosure action. ard
! was then an employe of A. NJ. Young. TO
/ build the road for S25OOOOO Of the stock and
/ So 100000 of the bonds Of the corporation. MT
| BIakeslee was a dummy il is alleged. and had
little part in the building OF the road. He testi-
fed that he never received the S2.5OOOOO OF
/ stock and the 81 100000 Of bonds except for
/ transferring them to various people unknown 10
| him For this he received no consideration. At
| that time u supposed that the road to
| be a paying investment The syndicate was
/ composed Of a Mr.. Cooper. A NJ. Young H. G.
| Runkle r. A c. Smith and w. +. Sheehan. Mr.
RunkIe testified that tho road cost about So 200
| 600
! SO 600 which he collected and paid out while re-
ceiver In settling up old debts of the corporation
II ts also coutended that certain law clerks Of
/ Sheehan & Collin, who acted as directors until
! the road was built. all liable in various ways
! for their acts and especially for the amounts
| su Inscribed by them for stock in the road One
| - +La Iarga holders Of stock In the road was A
] NJ Voung After the sale of the road under
! Foreclost;re II bid In by one OF those for
merIv interested IN il, who organized another
corporation.
STOLE HAT FROM DEATH WAGON.