Evening journal., 1921-07-20
new RECEIVERS
FOR ?. 6 ]. co.
continued from first page)


appointed attorney for the receiver.
Judge Lynch in the Federal Court
in Newark. n. j.. last night appointed
Joseph F. Tumulty. formerly secre-
tary to President Wilson, joint re-
ceiver with Henry A Wise of the
Pusey and Jones Company.
Mr.. Evans, one of the local receiv-
ers, said that while he had received
no formal notice of the action
taken, he would follow the orders OF
the court. which he expected would
be handed down before August 2.
Briefs have been hled here on pc
tition to set aside the local receiver
ship, and Mr.. Evans said the deci-
sion of the court as to the perman-
ency of the receivers would be his
guide.
Robert Pennington. counsel for the
company, declined to discuss the
matter further than to say that re-
ceivers appointed in bankruptcy pro-
ceedings take precedence and 1t is
possible the New York decision will
take the matter out of the hands of
the local officials.
In the receivership petition granted
yesterday by Judge Manton, the New
York creditors sllege that the ap-
pointment Of receivers in Delaware
was secured by the suppression from
the Delaware Court of the fact that
Judge Mayer in New York had pre-
viously approved the reorganization
of the board Of directors.
The New York creditors further
claim that the receivership in Della
ware has disrupted the unified con-
troll Of the business affairs of the
Pusey and Jones Company and made
necessary the present application for
bankruptcy. The petition to Judge
Manton is signed by c. ]. Rainear,
]. B. Simpson and others.
Judge Manton also appointed Saul
/ S. Myers Of so Wall street. attorney
/ for the receiver.
The Pusey & Jones Company. ac-
cording'to the petition, has two ship
building plants at Gloucester. y. j..
valued at more than $1,000, 900, and
the plant in this city, valued at sew
eral millions. The company is owned
/ by Christoffer Hannevig. who had a
banking business at 139 Broadway
and a shipping business at 50 Broad
way. Christoffer Hannevig and
/ Christoffer Hannevig. Inc, we're de.
clared bankrupt last February and
Mr.. wise was at that time named as
receiver.
Papers on file allege that after his
appointment Mr.. Wise attempted t'
save the Pusey & Jones conce7
from a receivership and that he, viii
the approval Of Judge julius M
Mayer, effected a reorganization o
the board of directors. The reor
| ganization board consisted of Hart
we'll Cabell an attorney representing
the superintendent of Insurance o
the State of New York and the Super
intendent of Insurance of the Stat
Of Pennsylvania; Laurence. Leonard
representing the United States Ship
ping Board; william G. Coke Of thi
city former general manager Of tn
Pusey & Jones Company. and Georg
Weems Williams. representing tn
Baltimore Dry Dock and Shipbuild
ing Company, a creditor compan
to the extent of $500, 600.
II is said that the idea in thus re
organizing the Pusey & Jones Com
pany was that It would constitut
one of the best assets of the bankrur
Hannevig interests, and would ma
terially contribute to clearing o.
creditor claims.
The papers on file in the Ne'
York court assert that the pres
ert petition was made necessar
by the action of Hans Karluf Hans
sen. a Norwegian. claiming to be
creditor Of the Pusey g. Jones c,
for S650,000. who went before Judg
Morris. in the U. S. District Coui
here last month without the know
edge OF other creditors or stockholc
ers of the company, and had r,
ceivers appointed.