Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1921-02-12
NAME RECEIVER
FOR HANNEVIG
N. Y. Banking Firm Owes
More Than $S,000,000,
Creditors Say
LAY TROUBLES TO
SHIPPING BOARD

NEW YORK. Feb. l2.--Ihe AZ
fairs Of Christofrer Hannevig and
his banking concern. Hannevig a
Co.. Of i3s Broadway, went into the
hands OF receivers yesterday as the
result. according to a statement is
sued by counsel for the receivers. OF
q delay in settlement OF the United
States shipping Board for work
done by Pussy q Jones Co. OF Della
ware. owned by the defendant The
Involuntary petition in bankruptcy.
filed in the United states District
Court. was on behalf OF three credi-
tors They we're Osler Wade. OF To-
rcnto. who claims sSS7.lO5; the
Equitable Trust Company OF this
city. which claims $4,000. and A.
S. Reid. OF Philadelphia, who claims
$1,000.
on petition Of Osler Wade. Judge
John c. Knox appointed Henry A.
wise OF Is william street and
Thomas T. flanagan. OF % William
street. temporary receivers, with a
ioint bond OF $4,000 Accordinr
10 tho petition for the receivers the
liabilities are 100000 and the
free assets are not more than $500.
coo.
According to the petition. MIR
Hannevig owns and controls the
Fusey & Jones Company, a ship.
building concern. organized at the
outbreak OF the war, and that com.
pany has a claim against the United
states shipping Board for $4,000
600. The shipping Board offered
S7.000.0OO in settlement. but thi.
was refused by the company and sui
recently was started in Washington
for a settlement. Mr.. HanneVl
claiming that the award Of the gov
eminent for $1,000 900 was unjust.
The petitionAstates that Mr.. Han.
nevig has assets in Norway and alsg
owes considerable money in thai
country. 10 further states that th'
appointment OF receiver is neces
sarv to protect from dissipation tn,
assets OF the Pussy a Jones Com
pany, which was therefore con.
trolled by the alleged bankrupt, bu
which became indebted TO the Bal
timore Dry Dock Company FOL
s7bo.0oo. pledging the capital stool
as security.
Chrtstoffer Hannevig came q
this country during the latter par
Of 1915. In April. 1917. no organ
lied the Hannevig Marine Trus
Company for the purpose OF loaninl
money on ships. then a new form o
business In this country. IL wa
then that he secured a lease on In
old Liberty National Bank BUILDING
where his present offices are locate,
He is interested In a number {
other companies.
The receivers appointed by Jude
Knox stated taht they have retaine
Saul S. Myers and James n. Roser
berg as counsel They said IN
cause OF the embarrassment {
Hannevig & Co. was due to the dc
lay in collecting just compensate
from the United States Shippin
Board for the Pusey & Jones Com
pany for vessels constructed durin
the war. They said that Charles +
49, Nntnf VIM ~ INV HNHNAAlAk III
case OF HanneNg against the ship
ping Board for the payment OF IN
$4,000 900 which the compan
claims. will be asked to continu,
and that they all will cooperate 1
bringing about settlement OF tn
affairs.
The following statement was give
by MIR. Hannevig.
Conditions are due TO the fal
that the United States Shippin
hoard has refused 10 pay fair con
pensaton 10 the Pussy & Jon,
Company (of which 1 am sole stool
HOLDER for work done The Shil
ping Board agreed 10 pay such ia
compensation, and is by law n
quired TO pay the same but is ui
lawfully Withholding payment"