Arizona republican., 1905-11-28
GEO. HOADLEY
 INSIDE TIP
Urged Friends by Telegraph to Buy Power
A Former Phoenix Man on Witness Stand Explaining lis Solisitude for His Friends.

New York. Nov. 27.-Today's session of the trial before Supreme Court Jus tice Bowling of the suit of Willard IT. Jones & Co. brokers. tO recover SsT.- 800 from Joseph H. HoadlCy. Joseph Letter and Cyrus Field JudsOn. as the result of some pool transactions in International Power stock. in the spring of 1902. was devoted to the cross-eXamination of George w. Hoadley. brother of V. H.
 During the examination HOadley ad- mitted that on April 30. the day that Power crashed from 199 tO 1e0 a shars.. he had personally sent numerous teic- grams to his friends. urging them to buy Power. that it was "the Oppor- tunity of their life time to make mon ey." Among the telegrams so sent was one to Marsden J. Perry of Prov idence. R. l.. reading as follows;
 international Power the biggest buy in the market; buy quick
 GEORGE w. HOADLEY.~
 Perry. Hoadley explained. was not a friend" but had been trying for some time previous to April 30 tO make a deal with the Hoadley-Leiter combi- nation to buy Power. He was not let in, however. Hoadley said. and it was because of his failure to he set in prc- viously, and in order tO ~do him a good turn and get in on the market that Hoadley sent him the telegram. Power had then dropped some 10 Or 12 points. but Hoadley did not expect it to go lower.
 Neither Perry nor the other friends of the HOadleys, for J. Fl. himself sent several telegrams to friends to buy on that day. were caught in the slump. save Letter, for he was the only one to follow the telegraphic instructions He bought 1000 shares for 1SS and had to settle later at 120, losing $s0.e00 in the transaction.
 Hoadley sat in JudsOn's office that day while the stock was dropping. bur he denies that he had already taken possession. He only took possession on May 1, after. as he and J. H. swear. Judson had gone on his knees in J. IT. Hoadley's apartment, the morning af ter the crash, and confessed that hc had speculated away all the collateral he held for Hoadley and all the cash advanced him, about S1.00O.00o In all The Hoadleys say ne stole" it. and out of kindness of heart they agreed to save him if they could by takins possession of everytaiIs.s-las-tssssi 10 the last penny of his bank accounts and all the collateral he had on deposit with brokers.
 To enable them to do this Judson signed numerous orders to brokers for the delivery of the stocks and signed checks made out for him by George Hoadley. It is Judson's contention that at the time he signed these cheeks and orders he was so drunk that he knew nothing of what he was doing. He did go to the Oppenheim Institute to be cured a few days after the crash, but the Hoadleys deny that he was drunk when he signed the checks and orders.
 Hoadley admitted today that the signatures on the papers produced h court were very shaky, but he Saio Judson was not drunk. only 'very ner- vous."
 Though their friends did not buy a. their invitation. the HOadleys did They bought 5000 shares the day cf the crash, every share that was offer ed, in fact. and lost heavily.
 Hoadley repeated his former denials that he had ever known JudSOn to bc in a pool with his brother or Leitcy and explained away the entries under the heading "JudsOn pOOr' m the Hoadley books as mere bOOkkeepins errors. He failed however. to pro- duce the bookkeepers to prove this