New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-07
Mellen. Linsley, Whipple,
Warehouse and Robbins
Also Named.
RANK STOCK AND
REALTY ATTACHED
Network of High Firanciering
Bared-New York Bank
Used in Transactions.
rry telegraph 10 Tho Tribunc.l

Nsr;6en. Conn, Oct. 6.-John h.
p,lsrd. Ncridcu's silent coal dealer
.rd comparatively unacquainted with
to-.une prior TO his organization III
,ooo Of a $4,000 company for which he
a., able 10 borrow millions on unse-
,,rsd notes. was sued to-day for S3'-
Okla. SIX associates in the Billiard
COMPANY are made cO-defendants by the
w YORK. New Haven 4 Hartford
p.uros6 and the New England Navi-
c.,;on Company. which allegc they
T,ostcd by fraudulent action IN the
New Hayen's Juggling Of the Boston d
Maine. =,
The other defendants are Charles r
1ipslev. of tins city; Charles ;. Mel
len Samuel Hemingway and Harry v
Winnie. New Haven bank presidents
ssmuel Norehouse, a New Haven at
,o,ney. and Edward d. Robbins the
New Haven Railroad attorney to whom
vsllep attributed he ability TO ind a
way always 20 accomplish anything the
road wanted done.
RI stoc. owned 10y Robbins in Hart
Cord and real estate in this city owned
h, Billiard we're attached to-day. At,
,aebmen,s against other property o'
-, defendants will be filed tomorrow
The action is returnable in the Superior
court OF New Haven County Novem-
ber g. Al,an Waldo Hyde represents
,be railroad in the action.
Deals of secret Trust.
Billiard acted under a secret trust
II. the stock Juggling, according to the
complaint iu the suit, and "as trustee
for the road, received S3,S25,l4' IN
cash a. nearly As the same can be
estimated, including dividends
The defendant" says the compliant
"has never paid nor accounted to the
Plaintiffs for said sums. and has re-
fused TO account for the same, ana
falsely and fraudulently claims such
sums as his own property" The others
are brought into the case by the allie
cation that they received part OF the
money received by Billiard as trustee
and have refused to make any account
iag.
The railroad asks that Billiard De
made 10 account for the money ne re-
esived; that accounts be required from
the other defendants. and that Judg-
nent be given for the company. for
the amount found due after the ac-
counting
The writ instituting the suit con-
,sins the New Haven roads own
story Of the Billiard transactions
Prior to June 80, 1908, it says the
road owned 1O9,948 shares Of Boston
Maine stock, held n the name oil
nc New England Navigation Company
On or about June 80, 1908, the rail-
road company, "for the purpose OF d.
vesting itself Of the apparent owner
ship" Of this stock, transferred 1t TO
John L. Billiard, to be held upon
secret trust, for the benefit OF the
road. AR. Billiard accepted the trust
the road allegc-.
To quote the writ: For the pur'
pose Of concealing the actual owner
ship Of said shares" and "to avoic
possible litigation" the transaction
was entered upon the navigation com
pany's books a. an actual sale at SIZE
shsre the books showing that SILL
100000 was paid in cash and s2,115'
no in unsecured notes Of Billiard. The
cash, however, was actually obtainet
BY the road BY a loan to il from the
National City Bank Of New York npor
hOtes signed by Billiard and secured
BY the Boston & Maine stock depos
red with the bank by the road
Road Stock Juggled.
About November 10 OF that sam,
.esr Billiard, acting under another Sc
eret trust, for the benefit of the New
hsven road, bought 12,755 shares o.
h0ston & Maine common and $50
'hares Of the roads preferred stock
70 pay for II he received 81 ,000,0
ron the New England Navigation
company, giving his unsecured not,
.Vf Inc money. June 24, 1909, the New
maven road procured the incorporation
Tue Boston Railroad Holding Com
fSny by the Massachusetts Legislature
,ae new corporations pu. pose being t,
ao'o The road shares Of the Boston {
Maine.
me transfer Of the shares Of Bos
y" Maine stock held by Billiard un
r'f the secret trust TO the Bostor
"s'iroad Holding Company was ar
''"sed about June 30. 1909, "in sucl
'"ner that said transfer should ap
'On'iDued or page 3. column J