Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1909-12-23
100000 SUIT
|. Wolves EAST
ORANGE BROKER
George B. Hanford One of Many
Defendants Named in Acc
tiOn to Recover Royalties.
Especial to the Newark star.l

1kN-f
NEW YORK, Dec. 25.-In a suit
%broughtsin the Supreme Court by the
Standard Time Stamp Company and
James S. MacCoy to 0 more than
$500, 600, Drury w. Cooper, a lawyer
at 140 Broadway, and former Mayor
of New Brunswick, N. j., and George
b. Hanford, a broker of East Orange,
arc numbered among a lot of other de-
PENDANTS who are prominent in pol
itics. Among other defendants are
George W. Dunn, Republican boss of
Broome County; George W. Fatrchild,
Representative in Congress from the
Twenty-fourth district. and George L.
Green, former Mayor of Binghamton.
In the complaint prepared by his
counsel, Hugh Gordon Miller, MacCoy
charges that through the Vaccinations
of the defendants he and the STANDARD
Time Company were induced to part
with all their patent rights n other
property connected with the manufac-
ture,of time recording machines for a
small sum and a block of stock which
paid no dividends.
MacCoy owned a controlling interest
in the Standard Company, of which he
was president. He was also a director
in the Willard & Frick Company, a
time stamp manufacturing company,
which was dissolved In 1902. Early in
| September, 1899, MacCoy AYERS, j. Louis
Willard and Frederick A. Prick. repre-
senting the Willard & Frick Company,
opened negotiations for the purchase Of
the Standard Company. In January,
1900, an agreement was entered into
transferring all the Standards BUSH
ness, patents and other property.
The consideration promised was $780,
900 cash, royalties ranging from So to
Sc on each machine from the Standard
patents, with a minimum of $4,000 a
year in royalties, and $4,000 OF Willard
& Frick stock.
Three months later the international
Time Recording Company of New Jer-
sey was organized, with a capital OF
only $1,000. Green, Bundy, Reid, Frick,
Willard and Fairchild were among the
first directors, and MacCoy was named
as a director, SUIT he refused the posi-
ton. Green, Bundy and Fairchild, Mac
Coy say were the moving spirits or
the Bundy Company, While Willard,
Frick and Reid were directors of VIII
lard & Prick, and these six constituted
a majority of the directors of the Inter
national.
In April, 1901, MacCoy says, the capt.
tai of the international was increased to
81, $50, 900. Then came the absorption OF
the Bundy Company by the Interna-
tional. soon the International Time
Recording Company of New York was
organized. Before that the Willard IL
Frick Company ceased sending monthly
reports to MacCoy, and in November,
1901, his royalties stopped.
In the spring of 1902 suit vas begun
by the Standard, MacCoy says, to en-
force its contract and prevent the dis
solution of the Willard & Friek Com
pany. In answer afiidavits were sub
mitted that the Standard end of the
business done by the international
Time Recording Company was really a
losing one, and that the Standard ma
chimes were manufactured at a con.
slant loss.
Other statements were made in that
action which MacCoy now denounces
as false and fraudulent, and the Court
declined to enjoin Willard & Frick.
George b. Hanford lives at 6S East
Park street, East orange. He has been
abroad on a business trip since No
vember Il, but is expected home within
a few days. No information as to tn
suit could be obtained at his home to-
day.