New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-06-02
W4NT ONE RECEIVER.
Stockholders of Merchants Trust
Protest Il gainst I'zCO.

oo.ire If the stockholders of the Merchants
Trust Company was held last nlgTt at liie hi
SAVOY Plans to be followed by the speclal cum
rnittee appointed by the stockholders TO conserve
.ta;, interests were considered but not announced
Ex-Tax Commissioner Thomas L. Feltner. a-
rector of the Merchants Trust Company presioeu'
II was stated that an understanding had Deeh
reached between counsel for those opposing max
ing permanent the temporary receivers anu iof
the State authorities who asked that the receivers
be appointed, whereby the arguments 10 De iiiaue
before Justice Cochran, at HUDSON "oulo DC put
off until June TO- -,
ne stock of the Merchants Trust Company were
represented at the meeting.
Bv a wrongful system of procedure authorized by
law Justice of the Supreme Court outside OF THIS
CITY, and not deriving his authority under our cleo
tive system of the Judiciary from the people OF TINS
CITY / senpowered at the request of the State au-
bortfes 10 appoint receivers of your property, be-
cause YOU are trust company, ana generaliy
operate under the provisions of the banking laws
and by such lawful, but not always benetcent use
of such authority, appoint number OF receivers.
LAWYERS and employees. thereby devastating Your
property and also by the sanction OF such a non
resident Justice sell and dispose OF the same. at
valuation which they may deem satisfactory, al
though you. the owenrs and the creditors or de-
postors are with very few exceptions residents Of
This city and have voice in the selection of such
Justice and he is directly accountable to you
as a part of the electorate OF this city.
the appointment of two receivers in this where
on should be sufficient. although both receivers IN
their good and reputation give assurance Of
proper consideration and capable administration of
our affairs. but expense to fall upon you
which we may safely say is not to be justified.
Speaking for myself should say that either one of
them would be satisfactory. and We thereby saved
the additional expense OF additional counsel
when would do.
Nr Feitner said he believed the company
forced into the hands of the receivers that some
one" could get the valuable Hudson Valley Railroad
property. -. "a
their desire to purchase the 5eth-st. branch. a
penny savings bank institution, which has seven
years lease to run, ana winch Is looked on as d
paying investment. :,
Following this meeting there vas meeting of
the committee appointed to consider means to con
of Charles A Horner and John W I. Nichols being
added to the committee. Of which Mr.. Fe1tner is
chairman. Mr. Feitner said II necessary the com
mttee would go court with their case.
This afternoon the directors OF the three ADMIN
istrations through which the company has passed
will he held at the offices of the company, No. 346
Rroa dNav There is director, least, who is
not going to be there. He is Frank j. Gould. HIS
attorneys said yesterday that he would have no
ppeny George Gordon Battle. Of Battle & Marshall,
No. III Broadway, said that the firm would nave
no more statements to make regarding Mr. Gould $
Their only object in making any statement mad
been 10 correct false statements.
we wanted It distinctly understood, he SAID,
that Mr.. Gould was not director OF ths Mer-
chants Trust Company when the stocks OF the Viz
einfa companies purchased At the time the
trust company took this stock he not interested
en- the Virginia companies. either. We have made
no statement of Mr. Gould's losses in this trans
| action AS matter of fact, do not know what
thew are as never have asked him.
Edward I4auterbach counsel Tor the temporary
receivers said the receivers would not atten~ the