New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-26
POOL HACKERS KNOWN.
Sally offer of 60 Per Cent Cash Not
Made.

II was ascertasned positively yesterday that
Daniel J. suly had not made an offer TO settle
with his creditors the basis Of 60 per cent cash
and notes for 80 per cent such a proposition hao
been mentioned by some Of Sully's friends as a
.-feeIer." but suIly has not been in a position 10
make such an onsr. his counsel says. and It may
not be known for SEVERAL days how faVoraole an
offer he make.
A rerort that some OF HIS hackers in the poor
for booming cotton had offered 10 set him up In
,r,s,-oes again after his affairs settled in
harlzrr4utcv provided he did not disclose thelT
identity was disposed Of by admission OF 'he
receivers OF Daniel J. Sully & Co that they knew
who Sullv's hackers were. and that the information
had been given 20 them by Mr. Cutcheon, suly
counsel. The receivers would not tell the names
- the members Of the pool The names OF some
moi members are IN the books OF the firm ana
Henry W Taft. one Of the receivers. said the rec
ords Of the deals ala not seem to cover any Inys-
teri.
NJ Taft said but we have more trouble In ascer-
tanning the liabilities. The books OF cotton hrin
are complicated. and, in addition. some items %
account may depend upon a question OF lAc' VI
question OF law.
There may be a question as 20 claims against
sullv being based on the average prices OF cotton
on the Friday OF his suspension, or on the prices %
the following day. Saturday. in which there WAS
only half a days trading. -
The receivers corrected report that they nau
said:
We have only to-day received an order from ON
Judge Holt enaiIing US 20 sell cotton heG ~
Rs5k n Judge Hot's hrst order, .apPointiHs US
receivers. ne ordered that we co9.oh CebIes as
ton but the subsequent order to-day enao'eS No
10 sell it.
The receivers declined 20 tell how much cotton
had been sold by the Guaranty Trust company aS
reported. TO the McFaddens. or what price was
obtained BY the trust company, but they sSIo 'lio
sale had been made without notice TO them ana
there might be trouble 81. John Mct adoeh
was asked about the report that he had oous"t
about 1900 bales Of cotton which had been pledged
s the GUARANTY Tst o SoRn sya ID he Gould not
talk about IL, but the receivers nltsitl al 4..f
sFter he cotton vas sold He said the information
about the Transaction must some Ityi rIsi COM
pany refused TO give the information. but reteI!sd
ne reporters to the company's counsel and the
Samuel UnterTnyer contrsdicted report that ne
mac n 2ssa Te5so Of e suiiy fagF said be
had been consulted by some Of the cTeoltors IN ST
ne present indications were that litigation might
be avoided by fair settlement The receivers sdla
thew aid not know Of any terms FOR settlement
P-5ces went sailing up at the Cotton Exchange
after the ginning report OF the United states
Census Bureau vas announce me 49, - ot,r
S1- fha season OF 5000 would not much exceed
g, Sou 3sI not e on the 2oor Of the Cotton
change to lead another bull movement us %
moments had insisted that the production OF colten
f-- she season would exceed y. 05.Vo bales.
Counting round bales half-bales. the govern
mont reD0-t puts the crop ginned FOR the year az
10 oil z54 bales equivalent OF l0t4o eli ht-es 81
E10 bounds each The estimate IS Ss's.4- square
Sares ~ 5S round bales and 1888 island crop
After the announcement Of the report there was
a rfse OF over - points IN cotton. some opiLofs
even went 10 points higher than on Lhurs1ay-
IIilv cotton went ID 20 Is Il was sold that some
- me cotton firms which weakened by the
Si,Ilv failure hut did cell out. were enabled
10 get into a much better position through the Iise
IN the market.
49, c,,rr-- .,,-ouplb n renresentattve last
night gave out the following statement:
snd complete statement OF all my transactions
in cotton and the information relating thereto.
Nj SuIly's representative said his principal
had nothing 10 add 70 this statement.