New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-05-22
'F|DEL|TY'S HEAD ATTACKED.
Creditor BIameS keiran for De-
lay in Winding Up.
BIG ASSETS ALSO ALLEGED
Bank of Earlville, N. Y, Begins
Proceeding to Execute It's
Judgment.

The First National Bank, of Earlville,
| N Y judgment creditor of the defunct
| Fidelity Funding Company for s3.2oS 0s'
obtained yesterday from Justice Mccall an
order directing Frank Hendrick, receiver
of the company; Attorney General O'Mai-
lev. the directors of the company and the
10 creditors to show cause why the order
dicsolving the company should not be
vacated. The order is returnable on June Is.
The bank seeks permission to proceed with
the execution on It's Judgment
Guy H. Clark, cashier of the bank. sub
mits an affidavit based largely on infor-
nation and belief. in which he opposes the
voluntary dissolution of the Fidelity Fund
ing Company he says that no effort mas
been made to reduce the outstanding as
SETS of the concern to the possession of the
receiver. The cashier declares that these
assets were set forth IS amounting 10
$3.50 0oO and that the receiver has reduced
to possession less than $4,000 He ados
that the attorneys for the Fidelity Fundlhs
Counanv are the same as those for the
Windsor Trust Company, which had extern
s,ve dealings with the Fidelity company
and that the Windsor held collateral de-
posted by the Fidelity. Clark says that
there are also certain subscription agree
ments to stock of the Fidelity now in pos
session Of the Carnegie Trust Company.
which laws title as security for loans and
upon which there is due $3.50, 000 Clark
believes that, the Fidelity company mas
equitable interests in these. The Carnegie
and Windsor companies also have notes,
he declares. originally belonging to the
Fidelity and delivered to them for collateral
in which, the deponent alleges. the defunct
company has interests. According to Clark
the receiver has made no effort to enforce
the subscription agreements:
Clark goes on to say that Patrick j.
Keiran. formerly president and later vice.
president of the Fidelity, is now in Europe
and has evaded service. The bank offclSi
adds that he learned that keiran, who was
the chief figure in the Fidelity company
was trying to rehabilitate his financial az
fairs by enhsting capital in the promotion
of an enterprise similar to the Fidelity.
He understood that he was also trying 10
realize on notes of various Catholic instltu-
tons Clark says that the recei"r is en-
titled to these notes.
Clark makes also this allegation:
"Keiran by his wiles, devices and dlla-
tory practices caused the receiver and
creditors of the Fidelity Funding Company
to believe he would, IL given lllne'' TeAaoilI-
tate the affairs of the company, relieve
himself from bankruptcy and pay the cred
itors of the company. The receiver and
creditors have delayed. therefore, the wind
ing up, Keiran using the court proceedings
and order TO protect him from the enforce
ment of the lawful demands of creditors
by deliberately and maliciously misleading
the receiver and creditors"
Dptitf0ner
mission to serve the 10 creditors by publ
cation, because of the impossioility OF serv-
ing them all personally.