The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-08
COPPER COMPANY OK.
F. A. HEINZE INSISTS
Affidavits Attack W. D. Allison.
Head of S.. 100000 Ohio
Corporation.
GOULD BANK SUIT GOES ON

When Fritz Augustus Heinze was de-
Tending Yesterday the suit for 100000
brought against him by Edwin Gould.
his lawyers were trying TO prove that
the Ohio Copper Mining Company, in
which he is a large stookholder. is en-
tirely solvent and should be discharged
from bankruptcy
In connection with the Ohio Copper
Mining Company proceedings afiidavits
we're submitted TO Judge Mayer in the
Federal District Court charging that
william o. Allison, president OF the COM
pany, and president OF the National Re-
serve Bank OF New York. had tried TO
wreck the concern through fraudulent
bankruptcy proceedings in order to de-
stroy the value OF Heinzes holdings.
Judge Mayer Issued an order 10 show
cause why the decree OF bankruptcy
against the company should not be set
aside. and the order, served on Stanley w.
creditors meeting
Mr.. Heinze used to be president OF the
copper company, and Ia now director,
holder OF ~ per cent. OF the outstanding
bonds and Sl.0lO,9o0 OF the stock, Mr.,
I Heinze said in another action 'rought
against Allison recently that he had
caused Alison's election as president,
The Heinze affidavit filed yesterday said
this of Mr.. Allison
He has only a nominal interest In the
company. and has expressed his violent
, opposition TO me personally and has in
my Judgment done nothing since his con
! nection with the company but attempt
| to wreck IT.
! The company was put into bankruptcy
4 on September l6 last. with Mr.. Allison
acquiescing Later the president filed an
Involuntary petition saying that his direc-
tors had authorized him to do So Mr..
Heinze disputes this statement; he says
that neither he nor John W McKinnon,
another director. knew OF the proposed
proceedings or they would have opposed
them Mr.. Hcinze charges that these
proceedings we're conducted In accordance
4 with a "collusive and fraudulent EFFORT
to prevent any one from showing the real
/ facts 20 the court
The real facts. according to Mr. Hcinze
are that the assets a. the company
amount to s5.536.0li and the liabilities
are ss,l5O,0O0. Mr.. Allison gave the com
pany the appearance OF insolvency. &C
cording to Mr. Heinze. by listing the mil
and mining property of the company ms
worth 100000, whereas they are really
worth ti,746,9ss
| Mr.. Hein2e was Oh the witness stanc
all day IN the supreme Court before
Justice Page in defending himself against
Mr. Gould's suit Mr.. Gould alleges tina
Heinze Dough, 5000 shares OF Mercantile
National Bank stock from him. and tina
something over $4,000 Is stll due OF
tho purchase price.
Mr. Heln2e admitted that after he he
came president OF the bank the officer
failed 10 report to him the correct condi
ton OF the bank. He said he had agreed
to pay 1925 "A share for the stock, an'
did give $500, 900 In cash. When tn
Clearing House Committee intimated tina
he should sell his interest the stock wa
bought by "A Mr.. Trussell for Sl25 share
Alton H. Parker. attorney for Mr.. Gould
conceded that Trussell IL a clerk In MI
Goulds office, and acted for Mr.. Gould II
buying the stock.