New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-03
SIZE HOADLEY And LETTER
Brokers Ask $4,000 for Loss IN
International POycer Deal.

rosenb 4 Hoadlev. president Of the Interna-
+ional Power Company. and Joseph Letter, OF
C-,icaeo who are joined defendants with
r-y-,,s hudson in suit brought for the recov-
s-v Of over S65. O00 by William B. Franklin and
c.eo-gs Tsham Scott. were in the Supreme Court
yesterday when the action was brought to trial
before Justice Amend and jury
Ezosdtav and Judson have several times been
svar7ined and their books inspected in an en-
deavor to obtain evidence as TO the relation OF
4oa6lev and Letter TO the pool in International
Power I'd TO April % 1902. when the stock feii
and Judson's creditors lost 100000
:. NFoone--. Of counsel for the plaintiffs,
-.iz that rF7e suit arose out Of the purchase OF
o1e thousand shares Of International Power
r~on7nsnv stock by the plaintiffs on April ",
1909 An account was kept on the books OF
Franklin. Scott & CO. in the name Of Cyrus
F=7c1d hudson, but the name Of Hoadley or Letter
did r7o+ anpear upon their books The real con-
+-,,,s-s,- IN the case. said Mr.. Mooney, was
7,be+rar Nfessrs. Hoadley and Letter were not
as much interested as was Judson-
The stock of the international power com
many. Mr. Mooney said, was listed on the STOCK
Exchange in 1900 when # sold at ABOUT 80 a
share hudson subsequently communicated With
the plaintiffs firm and got them 10 enter INTO
an agreement to buy and sell stock on behalf
~ +be. members Of the pool" who were, he ex-
nlained Ia Franklin and Scott. himself Hoad-
lev and Letter Acting under orders, his clients
Mr.. Mooney continued. purchased the one tnoo-
sand ehares of stock There was g. big run on
the stock and they asked for q check. and re
cei,-ed two checks for $4,000. More money
was asked for. but not received. to carry the
balance OF the stock. and the plaintiffs event
1aIlv sold it at auction. their loss on the Whoie
transaction being the amount sued ror- me ue-
TF1lat fTyg
George Isham Scott, one of the pIallLlLL " NC
was the first witness called, Jesrned 70 me
purchase by his firm, in accordanCe VIZ ~
st~1fctions received on April %. 1907 OF the one
Thousand shares of stock Mr.. Scott was cross
examined by George s. Graham, OF couIlseI TOT
the defendants and read from his DOCKS the
different items on Judson's general account.
who did Judson tell you" asked Mr. era
ham were with him in this pool in Interha-
tio-aI Power stock?'
.:ATr. Hoadley and Mr.. Letter. John r Drexel
william J ArkeIl and Lewis Nixon were inter
ested in the slock.
s'Tidn't YOU through your counsel, Sherman
& Sterling institute action in which MI
DrexeI Mr.. ArkelI and Mr.. Nixon were de-
Fendants as well as Mr.. Hoadley, Mr.. Letter
and Mr. Judson"
II believe so
And was that suit not discontinued against
Messrs. Drexel, Arkell and Nixon?"
IT cannot say I only gave instructions to
nv, counsel TO bring the suit
Nr Scott said that the first purchase Of In
,e-nsttonaI Power stock made after the Judson
snacisi account was opened with his firm was
F+S15A q share The stock went up 20 S19S
=, AnriI 10 and the last they held OF It was
eol5 at auction at $74 and $40
The hearing VIII be continued to-day