The New York herald., 1921-01-20
RICHARD WILL Be
PROMOTER OF Big
FIGHT FOR TITLE
Will Assume Responsibility
for Match Abandoned by
Cochran and Brady.
FORFEITS ARE THE ISSUE
Amounts Required Of Dempsey
and Carpenter Were Sc
cured. by Bonds.
Although two Of the promoters Of the

1LhnOd6h 'WO VI tiiS ~ PiOiiASANAS ~ S--~
Dempsey Carpenter match - Charles
B. Cochran and William A. Brady
have formally Withdrawn from the
undertaking, alleging that the boxers
had not conformed to the articles Of
agreement. the bout is not off. accord
ing to Tex Rickard. the third member
of the triumvirate, who announced
yesterday afternoon that he is pre-
pared to go through with the enter
prise; that he would stage the bout
near Montreal July 2, and that he
would find others to take the places
of Messrs. Brady and Cochran.
Rickard declared that the claim that
the boxers had not posted forfeits in
accordance with the articles Of agree
ment was a purely technical objection.
as the amounts required of Carpenter
and Dempsey were secured by the
bonds of surety company, which was
ample protection for the promoters.
Richards statement was substan-
tiated by j. E. Ward, a surety broker,
who handled the bonds for those in
volved in the contract. He stated that
the American Surety Company of this
city had issued a bond for Promoter
Tex Richards share of the 100000 for
felt fund, amounting to $33,333.33. The
United States Fidelity and Guaranty
Company Of Baltimore issued a similar
bond for William A. Brady, while
Charles b. Cochran. the English pro-
moter, gave a check for his one-third
responsibility, as he was leaving I'M
mediately after the signing of the con-
tract for England and did not have
time to arrange for the issuance of
surety bond.
Boxers Forfeits Posted.
The principals, through their man
ayers, were obliged by the terms of the
contract each to place forfeit fund Of
$50 900 in the hands of the holding trust
company on or before last November
20. n the case of Dempsey his man
ager, Jack Kearns, arranged with the
Fidelity and Deposit Company of Balti-
more for such bond. Carpenter, the
French boxer, placed sum equivalent
to $4,000 with the Paris firm Of Morgan
Harjes, with instructions to forward 1t
to New York. According to a cable
despatch from Paris this amount was
deposited November %, and In state
ment from Cochran In London 1t was
explained that the money had never
been transferred to this country. owing
to the refusal of the French Govern
ment to permit it to leave France.
Rickard considers the posting Of the
forfeit of Carpenter in France as be-
ing within the terms Of the contract.
and there is no desire to take technical
advantage of the latters inability to
transfer the money to the United States
at this time.
Officers of the Central Union Trust
Company here, named as holder of the
forfeits, refused to affirm or deny that
the bonds were in their possession. but
It was explained that similar course
would be taken in any matter In which
they were acting for clients.
Brady's Statement.
Rickard stated that the report Of the
cancellation OF the bout had resulted in
visit from Col Malet, a personal
friend of Carpenter, who acted as con-
fidential adviser and interpreter during
the French boxers visit to this country.
Col Mallet stated that he had arrived
from Europe last Saturday and had seen
Carpenter within the last two weeks
At that time the latter had In no way
intlmated that he had any idea of with
drawing from the match. Col. Mallet
also stated that after the reports of
Dempsey's bout with Brennan reached
London number of Enplish sportsmen.
who had seen Carpenter box Bombar-
dier Wells and Beckett, offered to wager
even money on Carpenter to defeat
Dempsey when they meet In the ring.
When William A Brady was asked for
statement on the subject he replied:
$50 far as Mr.. Cochran and myself
are concerned, the matter Is closed We
discovered that the boxers had not
posted forfeits according to agreement,
and we therefore decided not to take
the risk involved In staging so important
a match"
Queried as to whether he had con-
ferred with Cochran on the matter.
Brady said 1t was not necessary. as he
was Cochran's agent In this country.
He declined to say II he would bid for
the match on lower terms.
persons not familiar with the box
Ing game have no idea of the many
charges that accrue against promoter
In the form of taxes" said Rickard last
night. "Snce I took charge of Madison
Square Garden, less than six months
ago, the receipts from boxing matches
have been close to 81, 000. 900. OF this esti-
mated sum the boxers have taken close
10 so per cent. or about $500, 900. Taxes
in the form of city, State and national
charges have amounted to at least
S225 600 leaving not more than $780, 900
with which to meet upkeep OF the Gar
den, salaries OF a large clerical force
and a dozen other fixed charges before
the stockholders OF the exhibition com