The daily morning journal and courier., 1904-04-02
PROFITS OF COTTON POOLS
HAWLEY,S EVIDENCE FOR THE
 SULLY RECEIVERS.

ing information of the cotton pool operations carried on through the sus- pended firm of Daniel J. sully & Co. was begun this morning before Un- tied States Commissioner Thomas Alex ander, in room 66 of the Federal build ing.
 Mir. Root announced that Boothby & Baldwin were present as counsel for the receivers in the bankruptcy pro- ceedings against D. J. Sully & Co, and for the applicants in the bankruptcy proceedings. He formally opened the proceedings by reciting the facts relat- ing to the bankruptcy application and the obtaining of the order for the ex- animation of Messrs. Hawley and Ray.
 MT. Hawley was called to the stand and the examination by MT. Root began. Mir. Hawley said he lived at No. 25O West Fifty-seventh streete.
 Q. Do you know Daniel J. Sully? A. Yes.
 Q. How long have you known him? A. have known him about year and half.
 Q. Did you ever have any business relations with Daniel J. Sully? A. Yes, that of customer and broker.
 Q. Did you have any other business with him other than customer and broker? A. Yes; loaned him between $600,000 and $700.000 on securities hy- pothecated in the banks. Q. When did you begin to do busi- ness with Mir. Sully? A In Septem- Der, 1903.
 MT. Root began to examine Mir. Flaw ley about the records of his cotton transactions. MT. Hawley said that he kept no ledger on the cotton transac- tions. There was a little tilt between counsel over the questioning of Hawley as to the work of his bookkeepers, in which MT. Davies advised MT. Hawley to answer all questions as to his own | transactions.
 MT. Hawley said that his bookkeeper kept a ledger during the time of the cotton transactions, but did not put in 1t anything about the transactions He said that he didn't know where the bookkeepers got their information as to what they recorded in the books; that 1 is, he did not know personally about in l dividual transactions In the matter of the dealings in cotton the only record kept was the statements sent him by Sully & Go. He admitted having some of these.
 Hawley's lawyers handed Mir. Root I six of these statements, and he began to examine Hawley upon them. Haw ley said he wasn't very familiar with them. He very rarely saw them, his bookkeepers doing the accounting fol him, and he could not say whether the six statements represented continu- ous transaction.
 1 Mir, Root had noted on the record one Q fth statements of December 2t for 10,- % bales of cotton bought and sold for the joint account of E. Hawley and D. J. Sully. Like statements for trans actions in December to amounts of 1s,- 100 bales. 300 bales and 500 bales A pink slip Of paper which stated that $99,440 had been divided between HAwley and Smith, s45,22O each, as profits Of these transactions, was also put in evidence.
 Did you receive $45,220 as represented Ion this exhibit?" Mir Root asked.
 T think did, Mr Hawley answer ed.
 Another batch of orders was put in evidence, showing a successful deal in the May option, from which Hawley ad- mitted he got a check for a profit of 4 $45. 700.
 MT. Root brought out batch of let ters and statements regarding a trans action for five named individuals, be- ginning with Hawley," which brought a profit of $65,205 for all. Hawley said he thought he got about $30, ,OO0 out of this, but only his check book would show definitely; he had no other record.
 Hawley said he got between 5000 and $10,O00 out of another transaction. There was $41, ,620 profit in another transaction that was apparently a short" sale Of the market just before the big Febru- ary drop in the cotton market.
 Damocles reckless gayety surprised his friends We do not see how you can be so happy and careless while that Isword hangs over your head, suspended | by a single hair" Damocles snapped his fingers. Fudge" he replied, whats that 10 me Our COOK mas been threat ening to leave for the past three months! s!''-Cincinnat Times-Star.
 Flow old would you say she was ?'' Well, let's see. When we were in high school together she used to snub me be- cause was a kid. Now I'm thirty seven, and, un1-m-ill, well, I should say she was about twenty-eight by this I time. Town and Country
 Your rich brother is in the hospital isn't he?''
 "Yes."
 And how is he progressing?"
 "Oh, I'm dreadfully worried about him.
 "so sorry. Are you afraid he will no. lrecover?"
 ] "Oh, no, it isn't that I'm worrying about. It's his pretty nurse. -Cleve- I land Plain Dealer.
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