New-York tribune., 1907-12-13
THOMAS DEPOSITS TIED
TICTORY FOR SYNDICATE.
attachment for s47O,OOO in ProUs-
dent Battle.

| The property and cash deposits of Edward X. ano
Orlando T. Thomas in the Consolidated NaCo"dI
Bank the Mercantile National Bank the huoso"
| Trust COMPANY. the Mechanics and Traders Bank,
Robert MacL.ay & Co. and in the hands OF Ed"di
| Tsuterbach were tied up yesterday to the amount
| of $4,000 by attachment obtained by Johh D.
| Covle who acted for himself and the other Heih-
bers of the Philadelphia syndicate which nesoualeo
with the Thomases for the purchase OF the con-
trolling interest in the Provident Savings Lfe AS
suranca Society and the Western Ice Company. OF
New jersey.
The attachment granted by Justice Truax. fol-
lowed suit by the syndicate TO recover from tne ~
Thomases s1150o00 for their failure to deliver LVos
shares of the Provident and SoG0.000 in bonds OF
the ice company.
Alfred Lauterbach speaking for EDWARD L4""'
bach, intimated last night that a motion Tor me
vacation of the writ would be made immediately
The Thomases have five days in whlch 10 give
the Sheriff certificates showing the amount OF Cash
and the attachable property they possess.
II is probable that some of these banks holo as
collateral for loans made to the Thomases. "l'cH
could be attached. stock Of the ProVldeht 1llo'hS
L. Woodruff its president. has not IelurHVo Aii
the Adirondacks.
In suing Coyle declares that the surplus OF the
Provident on September was not, as he alleges
the Thomases stated, S50o@o. but Sio'eOV' ana lle
also declares that the statement of the soclety 10
the State Insurance Department on December Oh
1906 was true. The surplus at that tiie' 10y
AYERS was $4,000 less than that shown
Coyle further alleges that the Thomases could
not as they represented tney could, denver the
entire capital stock of the Provdent Socety-l'zo'
shares that they represented to him that the mar
ket price of the bonds of the Western Ice Com
pany of New Jersey from $Sl TO $50 BOND
whereas it was really s64 TO $S5 a bond
They also told him, he asserts that the Hudson
Trust Company would guarantee payment OF the
per cent interest on these bonds if he would pur-
chase s1.oO0O00 in bonds which they said they
owned. They did not the bonds. he says. nor
had the Hudson Trust Company guaranteed TO pay
the interest them.
On October 1. Coyle AYERS, the Thomases repre-
scented to him that if he would buy the Western Ice
Company's bonds the Hudson Trust Company
would guarantee payment of the interest for one
year and the defendants personally would guaran-
tee the interest thereafter, and that they would
repurchase the bonds if there failure to meet
the interest at the price agreed TO pay for the
bonds. Coyie declares the Thomases never intend
ed guarantee the interest and had refused 10
take back the bonds.
Coyle alleges that E r Thomas represented that
he was worth 100000 to S2aooo.O0 and thar
Orlando F. Thomas worth at least S'"9"'o'
These statements are said 70 be false.
On October Z according to Coyle, the defendants
told him they would deliver the ice bonds II he
would execute TO their order a.OoOUo IN pronlls-
sorry notes. He did so. but says they have never
delivered the bonds and could not deliver them
Coyle demands S.1O000O damages and $4,000 more
for additional expenses which he says he incurred
during the negotiations.
The attachment includes the 100000 cash which
Coyle says he paid for the release OF the Provdent
Societys stock, $4,000 for the expenses incurred
in the negotiations and $4,000. the value of that
much of his promissory notes which Coyle alleges
the Thomases have discounted and negotiated. The
balance of s6S0OOO of the demanded in the
complaint is represented by the rest OF his promis-
sorry notes. which he asks be returned TO him, or
their equivalent in value.
on November S it stated that Timothy 1.
Woodruff, who had taken the presidency of the
Provident Society after resgning IL. had obtained
$4,000 OF the S0C0000 in notes given the Thomases
by the Phi; adelphia syndicate, from banks which
held part of them collateral to secure loans
made to the Thomases and from the Thonlascs.
This left $4,000 In notes and 10000 in cash paid
by the syndicate for the release Of the Provident
stock to be returned by the Thomases. Some OF
this $3.50 Oo0 however. held by banks which
had taken 1t as collateral loans 10 the Thorn.
ases and refused to give it up.
When the syndicate made the contract with the
Thonlases they were furnish security for the
delivery of the stock IN ninety days return the
cash and notes paid by the syndicate.