New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-16
DUMMY RAISES VOICE
TO RETAIN 100000
No Figurehead, Real Contractor,
in $2,100,000 Deal, Says
Joseph F. Kelly.
BARES SOME HIGH FINANCE
Asserts Brady and Young
Cleared S1,O00,000 in Dayton
Power Scheme Through
His Skill and Honesty.

Joseph F. Kelly. formerly just Of The
Bronx but now figure in the world OF
finance who has been referred to hereto
fore as dummy" for Anthony \.
Brady and the late Alden VI. Young In a
contract with the Dayton Power ana
Lighting Company, removed the gag IN the
Supreme Court yesterday. and what ne
had to say revealed him as most taxa
tive dummy
In the voice Of Kelly and the words OF
Mirabea J.. Towns, his attorney. JACK
Sheppard never pulled off bolder en-
terprise than the Brady Young manlpu-
lation of the affairs of the Dayton com
pany." According to Kelly, the Mont
gomery County Light Company. s25"o
company. became the 100000 Dayton
Power and Lighting Company in seven
years
Brady and Young agreed with the Day
ton corporation to do construction WORK
and pay off "A small floating Indebtedness
for which they were to receive stock
and bond issue of $4,000. Brady ana
Young were TO get the bonds at 81 ana
bonus of 80 per cent of the common Stock
al that time valued at so share. BRADY
and Young did not want to take the con-
tract i'm their own name. so they got
Kelly to sign the contract and act as con-
tractor. take over the securities and give
them back the money as it was paid by
the Dayton concern. When the contract
was completed and the New York man
ciers had cleared 100000 profit there re-
NAMED sloo.G)o worth Of securities in the
hands of Kelly, the alleged dummy
In the mean time several things hap
pened Young died. Then Kelly, VINO
had been refused an increase in salary
resigned his job. Brady and Milton }.
Warner. son-in-law Of Young, who TOOK
the latter's place. had not scrap OF
paper 10 show just where Kelly htted IN
They demanded that Kelly hand over the
100000 in securities and he refused say
ing that rs the contractor, he was en-
titled to them. Now Brady and warner
are I'm the Supreme Court trying TO COM
pei Kelly TO give an accounting OF the
securities They asked Justice Lehman
Yesterday to compel Kelly to file BOND
for $4,000 The court reserved decision.
In his answer Kelly pointed out that
he was not merely stenographer Out
director in at least seven Of Mr.. young
companies. He says he was manager for
Young * Warner and virtually had
charge of their affairs My rise in the
world has been no more phenomenal
SAYS Kelly. than that of Frank NJ. TAFT
who rose from a humble position to be
the handy man and trusted dummy or
Alden NJ. Young and Anthony y. Brady
I'm the exploitation of corporations. If
said contract bv which $4,000 of stock
was taken out OF the treasury TO perform
little more than 10000 worth OF work
was not against the law, good conscience
morals and statutes of the state OF ONO
and was not I'm fraud OF the Innocent
stockholders of said corporation, why ala
not the said directors make contract
directly with Brady and Young? or with
the son-in-law OF Young. Milton j. war
nor. or the son Of Brady. James {. Brady (!
These two persons We're certainly closer 10
Brady and Young than was
Kelly added that the making of the
contract was a conspiracy on the part OF
Brady and Young and the directors 10
have him shoulder all responsibility, crlm-
inaI and civil. without his knowledge
while the conspirators INDUCED in the
secret reservation that If 1t should go
through and my skill and honesty should
produce profit. the time would then be
appropriate tor Young and Brady TO come
forward and shake me down, or. in legal
phrase. To take from me, with the assist
ance of the court and upon afhdavits oil
ex-parte conversations and containing
hearsay statements, force me to give up
the hard earned and honest reward of my
integrity and labor.