Evening journal., 1905-03-30
W. S. HILLES MOVES TO
MAKE RULE ABSOLUTE
HE REVIEWED THE DISBARMENT CASE
AGAINST JAMES H. HOFFECKER, JR.
CONTENDS HE MADE RECK-
LESS INVESTMENTS
EASTBURN TALKS FOR Respondent

When the Delaware railroad bonds
were sold, to whom sold and the exact
amount received per share and In grosa
for the same.
Also tho same Information as to the
sale of the stock of the National Bank
Ct Wilmington and Brandywine. the stock
OF the Wilmington Coal Gas Company,
the seven $1,000 bonds of the Delaware
ka lroad Company. the stock of the VIII
mingion city Electric Company. the City
Loan Certificate ana such other securities
as you may have held and sold and how
was the money realized from the said
/ sales applied.
What authority was given by tne
daughters Of Joseph Teas (and which OF
thcm to sell any. and what, part OF tho
original investments he held ON October
a, 1900 What subsequent Investments
were authorized by them or either OF
them7
Give me the exact date of purchase
and actual cost IN cash of the 6Si shares
of stock of the Wilmington OH and
Leather Company. the "a shares Of tho
Peninsula Basket and Crate Company,
the SS shares OF the Cedartown Conn
pany. the $50 shares of the Hockessin
Kaoln Company ana the 10 shares OF tho
Masonic Han Company, an held by tho
estate
The master also asked for Information
relative TO the purchase OF properties IN
this city and In Philadelphia and upon
whose authority.
HAD NO BOOKS OF ACCOUNTS.
Continuing the master alleges that Mr..
Honecker called upon him and stated that
he had no books showing any accounts of
the principal of the estate but had a
book called the income account book which
] the afnant told him. that, under agree
J ment OF counsel he didn't care to look
2 az It particularly.
] The master further alleged that MIR.
] Honecker gave him no satisfactory re-
plies 20 his inquiries, and that when re-
forring 10 the Charlton Heights property
e and the Washington city property said
D they were done at the request Of Mrs.
2 stoisenberg and when something was
q said about the Wilmington oil and Leath-
t er Company he said that was done at
i the request OF Mrs West
p Mr.. Honecker carried suit case full OF
papers and letters to the master. but tho
? latter was unable 20 find anything which
% could be considered material to tho case
Mr.. Honeckcr said that not one penny OF
7 the money went into his pockets.
HEIRS LETTERS TO TRUSTEE
n Much Of the time Of the afternoon ses-
sion was occupied by Horace G. East
?. burn of counsel for the defense. in read
b. ing letters received by Mr.. Hoffecker from
= heirs Of the Teas estate authorizing hlnr
r to invest In new ventures or TO sell old
a.
e An affidavit OF William A. Ramsey. a
% Philadelphia attorney. told OF an option
p OF $4,000 on the Saolln property. Phlla-
d deiphia experts valued the farm at S75.-
e 0OO end Mr. Honecker as trustee for the
# Teas estate held mortgage Tor $4,000,
10 which later was reduced TO Si35
It Anidavits also We're read showing that
'- Mr. Honecker had endorsed notes
amounting TO $4,000 for the company.
that he had purchased the works at a
receivers sale and through Philadel-
n, phia attorney was arranging for the
10 money with which TO pay the purchaga
a price of 5000 but that the receiver re-
fused TO wait.
"a The affidavit OF Dr. Henry J. stubbs
p, was to the effect that when Mr. Hof-
,e fecker was before the master he was suf-
,e fering from Inflammation OF the liver and
f. insomnia brought ON through business
,r worry.
T. William Michael Byrne in an afhdavit
ie spoke OF his interests IN the Hockessin
ID kaoln Company and said. together with
~ Judge Bradford and Mr.. Vandegrift. he
N had lest about $4,000 in the investment.
s. ADVISED TRUSTEE TO SELL.
A letter from Mr.. Hofecker TO Mrs.
~ stotsenberg relative to the seven H.O0C
= bonds Of the Delaware railroad was Of
i, fered as evidence. Mr.. Hoffecker told her
,s that they were worth premium but that
az the. premium was decreasing. In reply
re she advised him to sell and told him thai
,e she considered his judgment superior
is Another letteE from Mr.. Hoffecker to
,d Mrs. Stotsenberg dated August 10, 1901
no was offered and it related TO the selline
h. of the Beaufort Mills property. Mr.. Hof
m fecker has been offered $4,000 for The
he property but later a storm caused tn,
dam TO break and the prospective pur
ne chaser refused to sign the contract. An.
ui other letter from Mr.. Homecker urge,
e Mrs. StotsenDerg TO sell for $500. Tn,
d property later was sold for $780,
of letter was produced signed by samue
l.. and Lena B. West addressed to Mr.
id Hoffecker stating that they would max,
is good all losses accrurng from Investment
m in stock of the Wilmington oil an,
as Leather Company. a telegram from S.
West TO Mr.. Hoffecker was presented in
s. strueting the attorney to purchase al
f. stock possible IN this company
After Mr.. Eastburn had concluded
reading these letters Mr.. Hilles. Of coun
he sci for the rule, read the masters am
o. davit. He then proceeded with the testi
he mony taken by the master concerning tn
X Kaolin Company.
as This testimony was TO the effect tina
Ito Mr.. HonecSer had invested $50. 900 Of tn
Of Teas estate and $4,000 Of his own none
AT i'm the Haolin venture and that he ha
re- never accounted for one dollar OF tn
principal on the Chamberlain mortgage
pany. A new electric light plant has bee