davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
HOADLEYS FAIL IN
COURT EFFORT HERE
Judge Hough Refuses to Ap-
point International Power
Company Receiver.
SEEKS TO GET AT FACTS

Joseph II. Hoadiey shifted the scene OF
his efforts to prevent a showdown OF his
acts as the head OF the International
Power Company yesterday from New Jer-
sey to New York city In a typical move to
hide behind legal technlcalities through an
attempt to use the United States District
Court here as a haven OF refuge.
Judge Hough. presiding In the court,
was aware Of the possibilities In the latest
Hosdley step. however. and took action
that not only checked the counter move
planned by Hoadley for the appointment
OF receiver for his company who might
be more within the sphere of Hoadley In
fuence than the New Jersey appointee but
apparently left the Hoadiey group
stranded on the rock NJ indecision.
Judge Hough, recognizing that re-
ceiver had already been appointed by
Chancellor Walker In New Jersey at the
behest OF Hoadley's opponents against the
bitter opposition OF the Hoadley hosts, de-
tected something incompatible In the sud
den reversal of the Hoadley position In
yesterdays efforts of Hoadley's brother
and business associate. Alfred H. Hosdley.
to have a receiver appointed hero.
Although recognizing that the appoint
ment OF receiver was thoroughly war
ranted by the condition OF the company
as Il appeared without examination, he
therefore refused to appoint another re-
ceiver without further advisenent unless
the Hoadley group now In nominal charge
OF International Power Company affairs
would agree TO confess the bankruptcy OF
the company.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
Live stock Market.

THURSDAY, December -.
Receipts OF becves were $40 head, including
a single car Of steers for the market. Feel.
Ing was steady FOR all so,.s and gradce Of
live cattle. Ordinary TO fairly good steers
sold AT t7.S04ss60 per 100 lbs; bulls and
COWS nominal Dressed beef quiet. with city
dressed native sides selling at IN 70 &c.
per M extra quality at l5hc.
Receipts OF calves were sos head including
1875 for the market Prices were steady and
the offerings were all taken. Common 90
fairly good veals sold at RTSl per 100
lbs; culls AT So. City dressed veals were
quiet az i3n ai7hc. per III; country dressed
At liz gi6c.. dressed bsrnyard calves at
spl0Rc.
head, including Ia cars for he market:
and counting the stale stock there we're 8
cars on sale Feeling was steady foi sheep,
with u little undereurrent OF nrmness for
good lambs The pens were not quite
cleared. Medium TO choice sheep tewes)
sold AT si25gs55o per 100 lbs; ordinary
10 fairly good lambs at s7,50qSs; yearlings
ana mixed stock at s69s6.bo Dressed nut
ton quiet at sh Ole; best wethers. II "a %
igc.; dressed lambs slow at isg lihc.; a
Receipts OF hogs were e.sos head. all for
slaughterers, except few head, Feeling
steady and neavy 70 liGht weights wers
auotable at s7?bdlL5o per 100 lbs roughs
at s6nss?S. copatry dressed hogs steady
at sqlohc.; roasting pigs at ltSi7c.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
EXCHANGE THANKS COMMITTEE.
Resolutions and Loving Cups 60 Five
who Managed Recent Crisis.

Trading In securities on the Stock Ex-
change was suspended yesterday morning
for about fifteen minutes while resolu-
lions OF thanks unanimously approved by
the members were formally presented to
the Committee OF Five for It's work dur
Ing the closing of the exchange.
President Noble, chairman OF the COM
nittee, deliverd a short address In ac-
ceptance OF the resolutions, and thanked
the members Of the exchange for their
loyal and intelligent cooperation. which
he said made 1t possible for the exchange
to come through It's ordeal successfully.
President Noble and the committee were
loudly cheered.
The resolutions will be suitably en-
crossed and copy sent to each member
OF the committee with suitable testi-
monial as an enduring memorial OF their
labors. This memorial will probably take
the form OF q loving cup.
There was complete absence OF tho
usual more or less impromptu Christmas
celebrations on the floor OF the Stock Ex-
change and indeed on the other ex-
changes. Al +. NJ. the members quietly
dispersed.
While the custom OF giving bonuses to
employees was dispensed with. an excep-
ton was made In the case OF few OF
the Oldest employees. No fund was raised
for the purpose. the accumulated surplus
Of other years being drawn upon. In
addition to the old timers. 230 pages and
thirty telegraph operators got $40 apiece,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
COTTON STEADY IN
A HOLIDAY MARKET
Prices Higher and Trading Ac-
tive Despite Festivities
on the Floor.
GRADE REVISION CHANGES

=, soite VI the holiday spirit on the
co,,on Exchange yesterday there was "a
,.,.,, active business and bullish senti-
~, nrevalled to such an extent that
-. ,,srtet made recovery OF approx
rs,e,v points over the closing OF
Wednesday
II tse late afternoon the time was
,ven over largely to the usual horse play
"a holiday fluctuations. Bruce l.. Rice
~. ,nstor,clan Of the exchange, who Is
Iii known for his taste for epigram, ex-
.,sssed the optimism for the coming year
- ,ne following toast ut Delmonicos:
Here's hoping We make MS much money
IN 1915 as we lcst In 1914
A great deal OF interest was taken IN
- rev Clearing House plan and also
a." rho work OF the revision committee,
.btrh had q most difficult ask before
', Tlds involves the shifting from the OLD
,,s contracts to the new style contracts
"a would uecessltato a change IN inc
,uowance for grade differences even II
,bs committee felt that the SITUATION
called for no special action
The week end figures were Incomplete
,u,nr 10 the week not being fuli one.
yIyernool's stock of American cotton III
.r.ased 10000 bales for the week and -
-, ,laced at ass, 900 bales. Exports
were heavy and reached u total OF s7b5'
bales. e ,,., "a
tod rs first set OF Government stand
as Yesterday. They will be displayed
beginning next Monday in rooms on the
JNth floor Of the Cotton Exchange bullo-
ing. ... .........,.,. n,
e3O9 bales TO Bremen.
l.
,on exchanges will remain closed un I'll
Monday morning The Liverpool Cotton
exchange viii bo closed until Tuesday
morning.
Tha revision committee completed its Ia
hors late in he afternoon and Increased
the premiums or high grades ana reduced
the discount on low grades, Nhl!e this
might be construed as making IL easier
20 deliver cotton on contract. weight
should also be given the fact that con-
alteration has been taken OF the I'M
proved character of the new contract
and the difficulty OF delivering cotton IN
, c5nformance with Us terms.
IN detail the changes were: Middlins
fair, So cents 10 sl.05. strict good mid
Hing. so to 10 cents fully good mlddling.
% 10 So cents good middl!nR, 40 to 30
cents; barely good middling. 80 to 81
cents strict mitidiins, from 60 10 80
,ents, full middling. 10 % II cents.
Below basis. Barely middl'ng, from
. to Is cents; strict low m ddling, 90 10
10 cents fully low middIing, SO to 81
cents: low middl!ng, Sl.25 to % cents
s.ri't good ordinary, So 10 N.6'
Above basis: Strict good mddling
rnged, 20 to ~ cents. good middllns
Hinged. Il cents above basis.
Below basis. Strict middling tinged,
rom 20 to cents m.ddling tinged, 40 to
% cents; strict low m'ddllng tinged, 81. 20
20 o. cents: middllng strained. Sl..J to 81.
New grades. Low mdd!us unHed'
lio below basis and good ordinary
white SIZE below basis.
The committee will NEE, next week to
-sv.se the grades according 10 the old
American standards.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25

In addition TO this spinuer- contracted
the habit vi HsNinE Tor credit from brokers
which meant really that the mhnuihc-
turer desired to use the resources ~ the
broker 10 finance his own business. Even
plurging spectators were granted credits
as an iuduccment to getting business.
Competition became so fierce that credits
were not scrutnized with the old time
caution and the result has been seen m
the ruinous losses which have fallen upon
the brokerage fraternity IA the last few
years. a.
With brokers being compelled by the
Clearing House Association To put up
original margins IL is hardly likely that
thew will caro- TO grant extensions OF
credits 10 their clients throughout the
trade in the South or elsewhere. The IN
ierest on the margins advanced through
IN. Clearing House Association would
soon eat up the profits obtained on COM
missions from customers, especially II the
customer happened to be member OF IN
Cotton Exchange, who pays only ha.f
brokerage.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25

He was not prepared TO do anything
in the matter OF IA receiver here that might
interfere with the work of the New Jersey
receiver and asked the official representa-
tives OF the company. other than Alfred
II Hoadey, the petitioner. II they were
prepared TO acknowledge bankruptcy They
did not so acknowledge. The case may
be resumed Tomorrow or next week.
II was made apparent yesterday that
the fight the Hoadleys are making Is
largely for the purpose OF keeping the
Hoadley family grip on the American and
British Manufacturing Company the
principal subsidiary Of tho international
and Its chief asset OF value. This Is n
going concern and Is said TO be sound
one. II showed surplus earnings for the
calendar year ended 1913 OF s94.97l and a
total profit and loss surplus at tho end
OF that year OF ss64,Ss6.
II manufactures guns, ammunition
steam and oil engines and motors In II"
two plants, the Corliss Steam Engine
Works. Providence. r. T.. and the Ameri'
can Ordnance Works, bridgeport. Conn
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
COMPLAINS OF THREAD DECREE
Coats Thinks II Makes Free Compe-
tition Diaicult.

Sir Thomas Glen-Coats. chairman OF
J. & p. Goats Thread Company. Ltd, In
his annual address TO the stockholders AZ
Glasgow recently commented on the ds-
cree entered on June 2 last by consen.
as the result OF the suit brought by
the Government against the Coats COM
pany. the American Thread Company and
others for violation Of the antitrust law.
as follows:
we gave the Department OF Justice
the fullest Information about our bust.
ness and think we succeeded In making
out a very good case. although In some
minor matters we were unquestionably
at fault. Eventually 1t was agreed that
a decree be entered which imposes on us
"A NUMBER of restrictions. Some OF these
render Il difficult for us 10 compete freely
with other makers. but only time will
show to what extent this Is the cass.
The decree contains tho important pro-
vision that II Is not hnal and that we
are AZ liberty to appeal to The court
should it, terms he found in practice 10
he unjust and oppressive"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
Extra Thought Needed.

This was a part OF the bargain that
the Hoadley forces apparently decided
needed an extra thought or two over the
Christmas holiday and the case went over
for further hearing.
The retention OF the books OF the Inter-
national Power Company. the most lllu-
minatins of which are sti!l In the posses
sion OF the Hoadley representatives In
this city despite me orders of the New
Jersey court for their surrender to the
New Jersey receiver. was considered yes
terday to be the chief object OF the latest
Hoadley move In the Federal court here.
Attorneys for Henry W. Bull, who IL
lighting Hoadley for an accounting, and
those for Wilbur II. Sadler. Jr, the New
Jersey receiver for the company. who Is
seeking 10 take possession OF the company
out OF the hands OF the Hoadley group.
had succeeded In pushing the Hoadley
crowd into corner. where they had TO
choose between the lesser OF two evils.
The Significance OF the Involuntary PEE
tition In bankruptcy for the company BY
Alfred IL Hoadley. presented In the Fed
eral court here yesterday. was In the fact
that II was sought by Alfred and not Jo-
seph or George w. Hoadley. the other
brothers. The latter two were precluded
from engineering in person plan OF this
kind b. reason OF their court records In
the New Jersey case.
Both Joseph H. Hoadley. former presi-
dent OF the International Power Com
pany. and George W. Hoadley. director of
this company and presiden, Of its sub
sidlary, the American and British Manu-
featuring Company, had stood In this
suit as the bulwarks OF the company's
| defence against bankruptcy. Joseph II.
Hoadloy had said IN answer to the Bull
| suit for a reCtver>hip that II was pre-
posterous TO call the company bankrupt
and had sworn that the concern was
worth more than $4,000, 900. Alfred II
| Hoadley, secretary and treasurer of In
| terna;ioral Power. however, had re-
mtincd silent about bankruptcy In the
! New Jersey case lie was therefore free
! for the move OF yesterday.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
CLAFLIN PLANS PRESENTED.
Proposal Made 10 Pay Creditors ~
Per Cent. Cash.

a tentative draft OF the reorganzatio
plans for the Clahln enterprises was
presented 70 judge Learned Hand In the
United states District Court yesterday.
Under this plan. It IL said. the creditors
are 10 receive IS per cent. In csah and
SO per cent. In notes OF the newly formed
company. which was Incorporated az Az
bany under the name OF tho Mercantile
stores Corporation.
Attorneys Rushmore, Bisbee and Stern.
for the receivers, wanted Judge Hand 10
sign an order permitting the sale of all
the Clafin assets TO facilitate the re-
organization. There was some argument
over the form of this sale, the attorneys
for the receiver desiring that no upset
price should be fixed. The Judge favored
an upset price SO any creditor might come
la and bid oil ;n- aasv,s. lie Reserved
decision until Saturday morning. when he
will also affirm or reject the reorganiza-
ton plans.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
THE COPPER MARKET,
Metal sells at I.s.-Iowest sine.
Recent Jump.

Copper ,oll yesterday at 1T. cents
cash for February delivers. This
was considered the thirty day equlya-
lent OF about 10 cents and is the lowest
level reported for sales since the metal
lately touched l3is cents. The demand
for copper has fallen Hat, as + always
the case following a heavy buying move
ment Whatever sales are being made
are for account of the smaller Interests
There was BELIEF among producers a
fortnight ago that copper would close
the year strong ~ ~ cents pound bu,
this prediction win have to he revised
ds the closing week is not expected t.
bring forth orders OF quantity, manutac.
turers not desiring 20 carry large amounts
OF copper over the year end in their in
Ventories.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
TAXI RULING PLEAsES MAYOR.
Says Competition at steamship Piers
IL Desirable.

The order OF Dock Commissioner Smith,
enAng the monopoly OF the yellow taxi
cabs on piers OF the transatlantic steam
ship companies. has resulted In free com
petition, pleasing to Mayor Mitchell.
In letter sent TO Mr.. Smith yesterday
the Mayor said that when the Lusitania
locked on Thursday 2s9 licensed taxicabs
left the pier with passengers, and that
1I2 OF these taxicabs were In line when
the requirements OF passengers were sup
piled.
Furthermore" wrote the Mayor. 1T
appears that there were thirty-fve yellow
or Mason Seaman private taxicabs on
hand when the boat landed. and that a
canvass Of tho passengers by the Depart
ment OF Licenses developed but one bona
fido call for one OF these cabs.
Il feel that the careful investi cation
made In this case fully iustlfies your ac-
ton, and establishes the fact that IL
censed taxicabs can fully meet the de-
mand of passengers landed at this port"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
THE COFFEE MARKET

The coffee market was steady ycster-
day, with prices AT mo close 1e to II
points lower Prices declined slightly ir
the early trading under light hedge pres
sure ana selling increased /, ward the close
which tended to press values further
There was some buying noted on the de-
cline. however. which served to check the
downward moVem mt The rate OF Rio
exchange on London declined to 14hd
Brazilian markets were Irregular. Rio
No was unchanged at $3.50. Santos
No 4 was 100 refs lower n AS5o0, Rio
and Santos receipts totnlled 70, 900 bags
Sac Paulo had $4,000 and Jundiohy $4,000
Prices were:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
PUNCTUATION IN EXCHANGE.
Prices Go Up and Down-Ltttie In
terest IL shown.

frhe foreign exchange market exhibited
a pre-holiday aspect yesterday. Price
changes were not so great as they we're
frequent, and exchange on London was
now above and now below the price
quoted at the closing on Wednesday.
Business WIS light and there was little
interest shown In the market by either
prospective buyers or sellers
Demand closed at ASSES and cables at
4.s6s,, "a compared with 1854 for de-
mand and 4s7 for cables on dnesday.
Francs closed at SIC for checks, un-
changed. and SIS for cables. against
b.15H on Wednesday. Marks were lower
az ssss for sight drafts and ssSs for
cables On Wednesday they closed "A,
Ss% for checks and $50 for cables.
There WAS retired yesterday at the
local Sub-Treasury. si.s02.o0o in emer-
gency currency. bringing the total re-
tired to date In this city up 20 $751;
si:,77o.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
THE GRAIN MARKET.
Wheat RECEIVERS Early From De-
pression-Conrse Grains strong.

Very recently the holders OF wheat
acre q -grlLtled because of the action
. fre market There was no such dis
f' "a on expressed yesterday. An un-
..aF resm Of selling orders for out
.' " rests was apparent, this pressure
't1l'ns from widely scattered domestic
en- centres. But depressIons
rt -t lived and were frequently SUI
'sea' uy significant advances.
Tne o.E was not without its high levels.
'-Im Vh,lt sold at Sl,ij at Duluth,
Jesuit OF Italian absorption
supplies have been about eN-
'lo Otu.r wheits will probably be
'. .l An important buyer tor Italy
. 0 ..r Board Of Trade at Chicago
' and declared that while 3d.
200. bushels had been purchased for
~ lthc, 100000 would be re-
red. There were authorities who
''t however. that this assertion was
'".1ut INC stigma OF speculative
". app-' that WAS rendered during
tg-sl1u came largely from en-
.l their following, There were
'.- 'tuss Of more than 100000
'tr Hna ,ctual exports for the day
" 100000 bushels, Some of the specq-
,,.''N buyers during the day were strong
''.t' tern operators who frankly de-
.'. '.f they sdW no reason To sell
o. ~ consider the big Argentine
...'. '.,a.. more or lcss OF the llqulda'
rf The morning was associated
'.' -rHaler confidence in the large
LES from Argentina, especially
HI.1's Ayres market broke nearl,
.'''. over night II was contendec
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
s55,sG5 Claim Assigned.

4 standing in court as a creditor 20
seek d roceiyership. as he did yesterday,
was given to him through the assign
ment 10 him by Joseph IL. Hoad'ey OF
claim against the company for $50, iG5 q
previously held by Joseph II. Hoadley
the master mind OF the family circle
The usual cloudiness about The real pos
session OF this claim among the brothers
Hoadley attached In this case. for al
though Alfred IL Hoadley said yester-
day that this account was transferred 20
him Oh August 2. the court records show
that Joseph Hoadley swore two months
after tina; date IN the Jersey case that
he wa then the owner OF the account.
Judge Hough refused yesterday To
accede 10 the summary action sought by
the Hoadleys. Martin W. L!tt,aton rapre-
scented Alfred ". hoadley. Judge Hough
in effect told the petitioners thlt re-
ceiver had already been appointed iu New
Jersey that there was Justification """"r-
entity for the appointment OF receiver
here, but that II was not the place ut
the authorities IN the company 10 blow
hot In one State and cold In another" on
the question OF the real bankruptcy of the
company.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
NEWS OF FINANCIAL INTEREST

that Argentine holders had finally de-
cided to undersell competing interests
SUCH assertions would have had greater
bearing on the market and sentiment but
Tor the persistent European inquiry for
American wheat.
Beneficial SHOWS fell over the eastern
.thd central portions of the winter wheat
belt. Private advices are of a decidedly
more hopeful tenor relative to the start
OF the plant conditions in Kansas and
Nebfaska not excepted The Modern
htifer stated that tho crop was generally
Wen protected with snow covering. al
though the prediction from the same or
gan that the farm movement during Jam
uary would be light caused surprise. The
superstition has been that the combina-
ton OF more remunerative values and Inn
proved crop outlook should attrac. freer
farm offerings
Corn--There was independent strength
exhibited In this market. Feeding de.
mand Is larger and cash values have
foreign inquiry is stiil current and large
safes are rumored. The farm movement
liz not burdensome In partial reflection
OF the early rush of corn to market. A
difference OF opinion prevails as to the
magnitude Of the short interest. There
Is much gossip OF corn having been ac-
cumuated by the powerful interests.
There was profit taking and country sell.
Ing on the bulge. with n slight amount
OF attention given 10 the estimate for a
per cent. area Increase in Argentina.
Oats-The tone was very firm. Some
authorities reported substantial export
sales. while others averred that no i'm
portant foreign taklngs would take place
uness the market receded moderately.
Speculative buying was In Increased vol
ume. however. helped to no mean degree
by the sharp bulge In corn.
observation-disclosures we're absorbed by
packing interests. Light outside buying
was based on the higher grain levels.
An easter hog market was devoid OF ef.
feet
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
PARCEL POST MAKES RECORD.
Pennsylvania Railroad Reports
Great Increase over Last Year.

In the week from December IS 70 81
inclusive. the Pennsylvania Railroad han
dled approximately 100000 parcel post
packages at Broad street station. Phlla-
delphit and $500. 900 al the Penusylvanis
station New York. The Christmas rush
Of parce. post was considerably more than
30 per cent. heavier than a year ago,
Al Broad street station li7 trucks. OF
which thirty-ive We're electric. were used
IN loading ana unloading the Christmas
mail More than triple the regular force
of railroad mail handlers vas kept OF
duty during the week In New York more
than 100 extra mail cars were attached t.
the regular mail trains. At Philadelphia
thirty additional cars We're furnished.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
]. B. HARRIMAN's ESTATE $4,000
Appraisal shows Late Bnnker Left
Little propcrty.

WHITE PLAINS. Dec. 24-The late
jefferson BCardman liarr man, once a
proltnent banker In Manhattan. left a
very small estate, according 10 the trans
fer tax affidavit filed ere to-day WITH
the viii. The affidavit says that Mr..
Hartman left real estate worth not more
than $1,000 and personal property worth
not more than $4,000.
Ny hartman was a resident Of Mount
kisco and died In Washington uu Decem-
Der last after an Illness of many weeks.
The will, which Is dated February Il,
1914, leaves all the property to tie widow,
Mrs. Florence JAY Hartman. The latter
and Frank J., Polk are made executors.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-25
$50. 100000 IN POOL.
subscriptions From Additional Cities
soon 10 Come.

The cotton loan committee announced
Yesterday that It had In hand signed sub
scriptlons aggreyn;ng over f'V'uVo'oVV'
This amount does not include Baltimore,
Kansas civ. Minneapolis or san Fran
cisco. whose subscriptions aggregate APP
proXimately s6,75o00o. These cities, Il
is stated. have advised the committee
.hat their signed subscriptions are either
ON the way or will be- sent within y
few days.
The committee says that no recent IN
formation with respect % the balance or
the subscriptions, which are covered by
tho cities OF Louisville. Plttsburg and
Richmond. have been received. but that
IL is believed that their signed subscrip-
tons will be IN hand In the near future,