New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-07-25
100000 BUBBLE
PRICKED IN JERSEY
Finance of J. Rufus Wall
ingford Kind Catches
Hampton Villagers.
CONCERN GETS LAND
AND $4,000 CASH
Gloom of Court Disclosures Dis
pelS Towns Visions of
CrOeSian Riches.


CroeSian Riches.
. Trenton, July 2l.-J Rufus Wallng
ford in his palmy days never figured in
financial transactions any more weird
than those which are now being dis
closed in the Court Of Chancery as the
result Of the litigation involving the
Standard Water Systems Company, of
Hampton, Hun,erdon County. Vice
Chancellor Backcs has allowed an order
requiring John a. Power, the president
and the other officers of the company
to show cause why a receiver should
not be appointed.
This order b. the vice-chancellor has
just been allowed on a bill of COM
plant filed by Philip L. f. del Fungo
Giera, ce-president of the concern. It
is Gera whom Power, the president,
named as defendant in a bill Of COM
plant fled about a week ago. The suit
instituted by Giera is an attempt to
put the company into the hands of
receiver The Power suit was begun
20 recover nearly 100000 worth of
stock from Giera.
The Standard company was incorpo-
rated under the laws of Delaware nth
Sl0O0,0Oo capital. Giera alleges that
the company, upon its organization,
opened up spacious Offices at 185 Madi-
son Avenue, Vow York, which were
fitted up luzIriously at large expense
and presented IN appearance of great
prosperity. Beautiful catalogues were
printed and there was a large picture
Of the battlesap New York. Under the
picture it stated that one of the COM
pany's distilling plants was being in
stalled on the Dattleship. Giera states
that he has since personally ascertained
from the Department of justice that
such was not the case.
Photo OF Palatial Home.
On the wall If the New York Office
was a picture Of a beautiful home at
Babylon, /. J., which Power said was
his home. Gcra now says that Power
never owned me house, and was fnan
cially irresponsible. It is set out that
the present payroll of the company is
/ nearly $4,000 a month. although there
is not a wheel turning. Glera claims
/ tnat the company IS indebted 10 MN /"
the extent OF S42,Vu", ana u was Uc-
cause OF ms ndeotedheSS tnaI ne re-
! ceINed from rover S--''OVo u 'he 0oi'-
pany STOCK.
on January y, OF TINS year mere
was a meeting OF citizens IN the Hamp-
ton town hall 90 hear the report OF inc
committee named 10 investigate the
.'"Hu'"s Oh I"9 IGi"t"iiit ,. .a,,.,,,' ~
~ ,bo, ror+ IN the New York office
ot tbo ccrcoro and IRON, New York to
tbo s.sembIirg rIant Of the company
q, Jamaica 7 l.. which Nr. Giera
] - Tho c-anlard concern does not
(.,,,,
NJ Rico1o.,, q member of the com
! - reroy.6I "a The citizens Of the
49, f.5Sr r,,,,,., rrod,,cad ac.ual
Town 'HdC -. 49, C,I;fo,,;s sbo,,.-
news paPei o'p'."S. 49,. ,,,J ,,rl,.od
. I"- I'i nm, io.,t. .ta+ Eo t.o,,15 closo
f 10 ne uc[oHD .,',on,o - c,.o r,,rutos
u'"I I'' 11,.... ,,.a,,Id rao,,iro
Whle we OF IIaIlP,o ""uIu "a
/ DOUBT ihal aIH"""' VI '''''o 0'O' " fi''
transacjioh; $3.50, 11.u..o., NO
ne oeaIMeS ,|', t 'i"'' ~ al.,,
crossed raplG4I!, ana a. ~ God -, srb
pany hrSt dcmahHtd f2V'vUV ~ ~
scriptions the petition shows 'hat me
officers were so anxious 10 come 10
Hampton mat lhtE le.l - b..
cent OF 'hl9 &IHou.'. 81 o,.,,,sr,, and
IItu on d"l ny '''N' ''' .-'1 ~