The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-03
HOADLEY'S POWER
APPEAL GOES OVER
New Jersey Receiver of Inter-
national Traces Some Of
the Assets.
DETECTIVES SEEK BOOKS

TRENTON. n. j.. March 2-The Cour;
OF Errors and Appeals to-day denied
A motion to dismiss the appeal OF the
International power Company. OF which
Joseph II. Iioadley was formerly tho
president, from the order Of Chancellor
Walker appointing Gen. Wilbur +. Sad
Ter. Jr.. Of this city as receiver. Argu-
men, on the appeal. however, went on
for the term.
The motion 80 dismiss was based ON
the ground tina the appeal had been
taken from the original decree NJ IN"
Chancellor instead of the amended de-
cree, Therefore the final judgment was
not before the Court of Errors and APP
peals. This presented an unusual ST.
uation. the court going into conference
FOR more than an hour before announc-
ing its decision.
Den. sadler filed In the Court OF
| chancery his preliminary report as re-
oeiyer. in which he detailed at some
length the difficulties he had encoun-
tered In obtaining possession OF the rec
ords OF the company. Immediately
upon his appointment Gen. Sadler placed
,wo detectives at the offices OF the COM
pany, 30 Fast Forty-second street. New
York. with Instructions to wa;cn al
persons entering or leaving and to pre-
vent II possible the removal or any
books. papers or securities.
Con. Sadler himself went to the Of
fees OF the Corporation Trust Com
panv in Jersey city and took possession
~ such books as had been brought
there several months ago IN pursuance
Of orders from the New jersey courts
These books are now In 4 bank vault
In Trenton. .
Cen. Sadler told Of the refusal OF
George :. Graham, counsel for tn" COM
many. To permit him TO remove the prop
cr,V OF ,he company from the New
York Offices. Tracing subsequent de-
pm,n Gen. Sadler reported that
an December "A last Alfred IL Hoadley
al,d a petition IN bankruptcy IN hehdit
OF the company In New YORK hll'E.N
that a claim Of Joseph II HoatleN Tor
sbb 600 had been assigned 10 him four
months previously. Judge llougn re
fused 10 name a receiver unless "A Tor
mai consent admitting bankruptcy was
executed
The American and Pr fish Manufac-
turing ompqny the largest subsidiary
OF to international. asked for the al'-
poiutemcnt OF a receiver IN New noik
,r January . Charles " Riddc- w,s
FNNrfn ana zen. CA.Ilf. lft'I h'l N''N
his apnolrtmort served merely for the
PROTECTION If New York creditors. noll-
.ng the assets In hat state trsi i'r
their benefit and then FOR the New
Jersey receiver.
Gen. Sadler has been advised that Mr..
Ridder has In his possession assets ana
securities OF tie International Power
Company as follows Five hundred
Manhattan Transit Company bonds
1855 shares OF the American and Brit
ish MANUFACTURING Company. 1880
shares OF the Internal ond! Power Com
psry standing in the name OF George
" Uoadley and 400 shares in the
. name of tho International company. 175
ahares Of Trinity Zin". Lead and Snelt-
iu. Compary 9.275 shares OF American
T Di,,el Engine Company preferred and
. 49, II common.
Testimony OF John e Montgomery
and Frederick \. Larkin in regard 10
t. affairs OF the company was taken
n New York last month. Mr. Mont
ronery testified that In october. 1914.
ne was elec.ed a director OF the com
many. attending one meeting az which
Joseph II Hoadley and George w
Hoad,ey were present Mr.. Larkin was
elected as tho president ~ that meet
ing Mr. Montgomery said he had never
owned any stock before his election. has
not row q certificate of stoch OF the
company IN hts possess on and does not
know W ether 4 certificate was delivered
to him when ne was elected
Mr. Larkln testified that although
elected a director and president he had
exercised none OF the powers Of thor
office. knew OF none OF the assets OF the
COMPANY or OF the bank account, where
/, was kept or VINO signed checks for
the company.