New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-27
NAY SIZE HAWLEY AND RAY
Continues from hr-t pass.

,er. in aarr,iptcy y q saou,4 t 2e s5reraen
that tas settsg ,-- On Dr. c-Sdors OF p. q sly
= 80 and thai the ioint aceoi ~ 5 49, ~ We
ihe "a, gi,- ne ,ricsr On 'he DAY following me
Fu.7~asioa. inieht = "a are I'm -ry creditor can
take 10 gg-s.a rs none lS A. ir7eS- me c-e5itors
and sally a. CO.
WHY NEW COUNSEL WAS sLCCHhD.
essy announced early yesterday that he he'd
retained 1Fr DOS Passos as new colhSe-' s--- -
wa understood 81 the time that Mr. Solcis'''
v-b, had been his counsel since The susill.s-
had with drawn To make the case Gear 80
made ..a following erater1ent ny a0Fi07 "a -'
dos Passes:
Previous 70 my saspsrslon at CG ca .e new 81
80 ..-o- since have beer coi.E Jls.eza a..
tre@- Rad DC and le lrrn had also acted !. ~ r
o1s matters for s4f 5ta"e- u ,i5 al "a E76Tyl-
ego al THAI irue % any possible coiI -,- =
.r..,.-.5 .f-r- tfr~a might be sUcn con1lct Ee
-eseg no re- released -rom a-tl-s 10y ~, - -iessi
s5.lsr- end after consulting his partners ana IN
view p TIE eAlee-leles os ills 80 f--,' had eye~
scted f0- AIr HawIey in connection VIII any %
been under any general retainer by Mr. haW-ey
OF his interests. and there was 70 reason ~ 49,
der entire acton has been win view solely 70
'tS-e fs.1f whose ADVICE fee il wise 20
accept, has noVeyer zssLeo "a - Nf5IIsr e
TC-i- %. 49, rssreo7sl counsel 10 whom the prose
-,S-3 ~ sud 5rslst Nfr Iiav1Iey could not be in
euily also made statement regarding the
manner in which ne was forced 10 suspend. be
cause OF The refusal OF IEawley and Ray 10 come
70 his aid when he needed money. L was the
following
Edwin Havley and Frank Il Ray we're tse OILY
the understanci1g that col-l 'o2K - ~. -o
funds after bad exhausted ~ own Tszol l ess5
IN hole week ago IA4rsday ana l .i r. . .s
tnat night az ne ~ sloo.tz y, c-.-t ~ manga
needei 10 put the deal through / tod them llat
gins They said thev would sleep on IT and lSt
me know a. j O'Clock the next snoral!g, ~ FF,s-5
for Favgley and OF the way downtown We tooS
Ray into tho cab. They were not enJhusiasl-c' ana
You're the one 10 be sacrificed II any one
Then they proposed that take over Their cotton
holdlngs some i-Less - ~ 90 o. ,r5-f-
ion ihat they would negotiate loan OF $50 900
when went mo the pit thar morning , t..t
that 4 wss watched RS .- 49,. 10 - s,,- -.
cided that I knew where u was c2rllIg rom, J.
era times about thar loan and got no encourage
meut. Then 7 went To see him. and said: $780,,
before O'Clock. with $4,000 have. my cearanoes
= ca-t md RAY" said TIawley I've been buy
ing stocks to-day sud have only Sl5See N the bank
Went bach 70 t6s once s7d cent ny notice q
suspension 70 the cotton 1h-ial se- -teeI IN -t
nffe-uo4n an assignment discussed. Lawley
EuTeeste5 man IN II e HurtiuEton's Office. and
T Bye5e nris- s Po+tep 5d not 5oW thea that
many lawyers would consider my pool arrangement
named Everything I possessed IN my FIRST prop
ell 80 ~ ,riyl tle f-s vii -l-e.se- Ie-
ritinlate. Neither Raw ror HaU-ey has offered mo
have gone 10 tfe1n. I have given the reservoirs
81 the information about my operations which was
necessary.
POSITION OF HAwLET AND RAY.
failure that he had no connection with sully's
pool and later refused 10 talk about il, made
q brief statement yesterday. IN view OF suly's
declarations NJ. Hawley said:
No relations ever existed between NJ Sullv's
nrrn and myself other than those q customer and
sT9SeT e SSoP Ps 9ea 9T Iy SGSSgnS e. ~ was
disposed Of by my direction through that hrrn as
dltions or considerations whatever. The account
vas theraunon adjusted lquidated and closed out
exercised my judgment as 10 the sale precisely
&c had done IS 70 The purchase Any suggestion
even this short statement WITH reluctance, and only
q lle bLs oI ScInt tLleios o. nine Wto
have urged ne IN this instance % depart from he
course q silence and indifference with which
should otherwise have treated The publication.
Frank n. Ray read over Mr. Havley's state
ment and said II was correct 20 his knowledge
IN al particulars. That statement by Mt
Hswley." he added. applies equally 70 my
transactions with the firm Of .. J. suIly & Co"
Mr.. Taft said last evening that M SuIy's
house still IN his own name and would fg-
ure in the assets. Asked n Suly had data on
which 70 make a statement Of assets and la
bilites 20 his creditors. NIr. Taft replied that
representative of TT. Sully had been permitted
70 examine the books. Several 81 Sullys own
booNNeepers were retained 10 60 ahead with
the accounts. which had not al been written
I'D 70 the time Of the failure
George Denogre. a prominent lawyer % New
Orleans has been engaged 70 take charge Of
euIlys affairs there. al arrangement having
been made by which no VIII make remittances
OF collateral there.
M. TAN was asked about SulIy's spot cotton.
He said that the receivers had been wrestling
with a hard problem in regard 10 insurance.
The Sully cotton Is In several tanEles One is
that the Reynolds Company Of which Sully
was president. asserts that Il owns the cotton.
subject 10 Suliy's lien. Then there Is che little
tangle over the sale without notice by the
Guaranty Trust Company Of cotton. said 10
have been about ten thousand bales. hvpcthe-
Gated with the company as collateral Mr.. TAFT
refused 10 say whether not this was thing
that the trust company had an undOubted right
70 60.
Mr.. UNTERMYER's INQUIRY.
IN referring 70 the statement by Mr.. DOS
Psssos. Samuel Cnternayer said;
Mr.. sulv has done exactly what his Friends here
eelf with his creditors rather than the who
should haze come 10 his aid in time or need. ]