Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-06-16
ST. 900 NOTE BY JUDGE
WRIGHT AGAIN FIGURES
Witness Denies He Ever Received
Paper AZ Part Of Assets Of Sealed
Package Company.


terested in IT.
Mr.. Sinclair said he was trustee IN
bankruptcy for the Sealed Package Ice
Company and had received certain assets
from Daniel C. Roper. and gave a re-
ceipt for them. He said, however, that
he did not receive the note Of Judge
Wright for 81 600 as part of the assets.
but that he first heard Of It during testt-
mony before referee relative to the
claim against James L. Karrick, amount
ing to $500.
Mr.. Sinclair said he asked William E.
Ambrose where the note was and that
Ambrose would not tell.
What did you say to him." he was
asked.
II said: Look here, where is that
Wright note for s.. 600? He made no re-
Spouse, but shook his fist at me and
smiled and said nothing"
You did not press the matter further"
Accepted Syndicate's Offer.
NO Not long afterward 1 received
an offer from Ambrose representing a
syndicate, for the assets and property
of the company-the Sealed Package
Ice Company-and I reached the con-
clusion the offer should be accepted.
I thought it would be to the interest
Of the creditors to accept and I so
recommended to the referee. He sent
offer was accepted. 1 sold the property
Of the company to Ambrose and he
thereafter transferred his rights to
Mr.. Karrick, the transfer being made
by Ambrose as representing the syndi-
cate making the Offer
Mr.. Sinclair said he knew of the ex-
1stence of a note by Judge Wright at
the time. Mr.. Sinclair spoke Of q
change of subscription for stock by
Il had been informed he had sub
scribed for s12.5oo and afterward cut it
ness if any one had suggested taking the
matter to the district attorney.
mo. not that ! recall"
las a matter Of fact did you not sug-
gest it?''
matter Of fact the testimony was taken
with a view to finding out whether 1t
would be necessary to prosecute"
Mr.. Sinclair said he talked over the
change of subscription with Mr.. Classic,
acting for him, Sinclair, in the capacity
Of attorney for the trustee.
In reply to questions regarding the
trend of the testimony and the reference
to prosecution, Mr.. Sinclair said:
IT did not talk 1t over with Mr.. Am
brose. although felt he knew what they
were AFTER
Never Had the Wright Note.
1.-THE one-thousand-dollar note from
Judge Wright never came into your pos
session. asked Mr.. Mccoy.
NO
who had it7'
IT understood all those notes were
the Wright note was among them or had
been transferred"
Mr.. Sinclair also told the subcommittee
that the value of the assets had some
what deprecated, in his opinion, because
certain of the subscribers to the stock
had repudiated their subscriptions.
Did Judge Wright repudiate his?''
mo"
Did Ambrose buy the assets?" asked
Representative Nelson.
He made the offer in behalf of a syn
dicate."
The members o. this syndicate were
not known to Mr.. Sinclair, he said, and
after the deal was made Ambrose
transferred the matter to James L.
Representative Nelson asked what
value Mr. Sinclair had placed on
Judge Wright's note.
Mr. Sinclair said he had not placed
any value on it, and was about to ex-
plain this answer when Chairman NC
Coy interrupted to place in the record
an exhibit representing schedule of
assignments from the Sealed Package
Ice Company to the United States
for $6952.5O The Wright note, he
said, was not in 1t, nor a stock sub
scription.
Karrick's Offer Changed Aspect.
Mr. Sinclair explained, on resuming.
that he had not pressed for the possess
sion Of the Wright note because Mr. Kar-
rick's offer for the entire assets changed
the aspect of the matter. If Karrtck had
not made that offer. said Mr.. Sinclair,
little would have been realized for the
company, and inasmuch as the offer was
made, Mr.. Sinclair said he paid less at
tention to the matter Of notes as the
whole affair was then turned over to
some one else.
Mr.. Sinclair said he got $4,000 for the
assets of a release from some of the
claims against the Sealed Package Ice
Company. Karrick himself was inter-
ested in the claims, aggragating $780,
"If that had not happened" said Mr.
Sinclair, ''Karrick would have received
all there was as he had a preferred
Federal Storage claim"
Representative Nelson pressed again
for an answer as to why no search had
been made for the note of Judge Wright
and Mr. Sinclair said he knew nothing
further than he had already testified
Have you heard 1t said Mr.. Ambrose
did not want that Wright note in the
assets?'
NO"
How do you account for Karrick buy
ing the assetsT'
HE was the only man who could buy
it. The plant was in building in which
he was interested, there were liens on the
machinery. big claims for rent No one
else would have bought"
Changed His Subscription.
did he have to buy to protect him.
self"
He knew we were liable to sue him
on the subscription claim
WAS there anything else?'
Mo-
Did he change his subscriptions
yes
what do you know about his SUBJ
scription? Had he changed it?'
"All I know came from the witnesses
before a referee in bankruptcy. Justice
Wright was one of the witnesses and he
testified that Karrick admitted he had
changed his subscription"
Later Mr.. Nelson drew the witness
back to the matter Of the Wright note
q cain and Mr. Sinclair admitted feeling |