Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-12-19
OPPOSE CHOICE
OF QUACKENBUSH
Talk of Appeal from Action of
Referee In Appointing
Him,

Although Bankruptcy Referee Ed
win c. Adams appointed Ernest j.,
Quackenbush trustee for the bank
rupt Home Ice and Products Com
pany, as a compromise candidate to
settle contest over the election Of
the trustee, the mataer has not yet
been definitely settled and there ia
talk of an appeal from the referees
action, The bankrupt company had
offices In this city and in Plainfleld
and was partly owned by Raymond
Il. Smith before the Roseville Trust
Company failure.
The entire day was used yester
day in an attempt to elect a trustee.
George Furst and w. Howard DEM
Arrest were candidates. The contest
developed into a long-drawn- out legal
battle and at 6 o'clock. when no de-
cision had been reached, Referee
Adams appointed Mr.. Quackenbush.
A large number of the creditors,
however, 1t is declared. object to ac-
ton of the referee In taking from
them their right to elect a trustee, as
provided by the State statutes, and
declare they will carry the matter to
the United States District Court
Wilfred c. Roszel, attorney for the
minority creditors, Is satisfied with
the compromise candidate, he de-
clares, but the attorneys representing
the majority of creditors have object
ed. The objection is not to Mr..
Quackenbush personally, but to the
referees action in appointing a trus-
tee Instead of adjourning the meet
ing.
Roszel represented eleven creditors
with claims aggregating $40, 900, while
Nathan and David Bilder with sew
eral other attorneys represented
twelve claims totaling $4,000.
Through objections based on tech
nicalities and defects In the form of
the proofs five of Roszeis and six OF
the Bidders claims were disallowed by
the referee. deadloclSing the election
with six claims on each side, but
with the greatest amount favoring
Elders creditors.
Attorney Nathan Bilder. made a
strong plea for adjournment, but the
referee refused to postpone the meet
ing and appointed Quackenbush as
trustee.
The attorneys representing the ma
tjority creditors will meet today to
discuss the advisability of appealing
from the referees appointment
eel were Nathan and David Bilder, e.
w. Kahn, of New York; j. NJ H.
Long, of Bangor, Pa; Edward r.
Clark, of New York; Irving l.. Ernst,
of Olcott, Gruber, Bonynge & Nc
Manus, of New York
Raymond e. Smiths most recent in
dictment by the grand jury, handed
into court Wednesday, is said to be
for alleged embezzlement of $4,000,
moneys which he took In from a de-
positor and did not credit to that
depositor on the ledger of the bank
There are now four indictments
against Smith, three having been
found by the previous grand jury in
October
There are said to be no less than
100 cases on which Smith can be in
dicted for similar practisss to that
slleged In the last indictment found,
These all took place since December
is. 1911. About 100 others which
took place before that date, cannot be
brought against him owing to the
statute of limitations which imposes
limit of two years on prosecutions
for offenses of this kind.
The effect of this will be that
Smith, while holding his office Of
ecretary-treasurer continuously up
to August 49, when the State bank
examiners swooped down on the
Roseville Trust Company and closed
its doors cannot be indicted for the
alleged embezzlenaent OF thousands
of dollars before October Is, 1911.