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RECEIVERS APPOINTED. Albany, N. Y., July 14.-Justice Fitts of the supreme court today appointed James B. Van Woert and Samuel Bryant of New York. temporary receivers of the Holland Trust company of New York. Recent examination of the company's affairs disclosed an apparent deficit of about $110,000.
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York temporary receivers of the Holland Trust Company of New York and temporarily restrained the company from transacting business. This followed a complaint from the state banking department that a recent examination of the company's affairs had disclosed a deficit of about $110,000.
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Receivers for Holland Trust Company. ALBANY, N. Y., July 14.-Justice Fitts of the Supreme Court today appointed James B. Van Woert and Samuel Bryant of New York temporary receivers of the Holland Trust Company of New York. Recent examination of the company's affairs disclosed an apparent deficit of about $110,000.
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Holland Trust Company Short. ALBANY, N. Y., July 14.-Justice Fitts of the Supreme court today appointed James B. Van Woert and Samuel Bryant of New York temporary receivers of the Holland Trust company of New York. Recent examination of the company's affairs disclosed an apparent defloit of about $110,000.
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TRUST COMPANY CLOSED. Deficit Causes the Holland of New York to Be Placed in Hands of Temporary Receiver. ALBANY, N. Y., July 14.-Justice Fitts of the supreme court today anpointed James VanWoert and Samuel Bryant of New York temporary receivers of the Holland Trust company of New York and temporarily restrained the company from transacting business. This followed a complaint from the state banking department that a recent examination of the company's affairs had disclosed a deficit of about $110,000.
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J. B. VAN WOERT KILLED. Receiver of Holland Trust Company Victim of Auto in Fifth Avenue. James B. Van Woert, a receiver of the Holland Trust Company and one of the directors of the Home Insurance Company, was struck by an automobile while crossing Fifth avenue at 25th street last night and died in the New York Hospital an hour and a half later from a fracture of the skull. The automobile continued on its way northward in Fifth avenue. Witnesses say it was a touring car with a green body. Mr. Van Woert was sixty years old and lived at No. 48 East 25th street. He had offices at No. 19 Liberty street, and up to three years ago was the secretary of the Holland Trust Company. When the affairs of that concern became insolvent at that time he was appointed a joint receiver of the trust company with Samuel Bryant. He was not married. Lleutenant Turley, of the West 20th street station, said last evening that he was trying to learn the name of the owner of an automobile bearing the number 39,180 N. J. in his investigation of the accident. Miss Charlotte Van Woert, the victim's sister, said that her brother had been a sufferer from rheumatism and that he might have been unable to avoid the automobile. Mr. Van Woert's father was one of the wealthiest tobacco merchants in this city. Two sisters and three brothers survive the dead man.
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BANK OF STATEN ISLAND. Request of Attorneys for Receiver Davenpert for Allowerees Comes Up. ALBANT, June 26.-Litigation involving the Bank of Staten Island receivership was before Supreme Court Justice Howard at special term to-day, the principal matter Involved being a request by Jellenik & Stern of New York, attorneys for Receiver John S. Davenport, for an allowance of $2,775 on account of services. Mr. Stern also asked the court for an order authorizing the receiver to continue for another year his contract with his firm as attorney. Under the contract the maximum to be annually allowed is $5,000. Decision on this application was postponed until July 10 at the request of Deputy Attorney-General Clark in order to permit the Attorney-General to investigate the various items in the account. Mr. Stern also asked leave of the court to pay receivership stenographer bills aggregating several hundred dollars. This was opposed by Deputy AttorneyGeneral Clark because the bills were not in verified form and the matter went over until the fourth Saturday in August. The application of Attorney-General O'Malley to require a final accounting of the receivership of the bank was postponed to the fourth Saturday in October owing to the unsettled litigation pending. A similar application to require a final accounting of the Holland Trust Company of New York went over for the same reason until December 27.
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Suit in Chancery to Liquidate Mortgage on 14,000 Acres in Ocean [Special to the Evening Star.] TRENTON, May 1.-Suit to compel Leon Stern, of New York city, and other landholders in Ocean county, to discharge a bond and mortgage held by the Holland Trust Company of New York, has been instituted in the Court of Chancery. Samuel Bryant, receiver for the Holland Trust Company, who brings the suit, alleges Stern became indebted to the trust company in 1911 for $33,000, and in order to secure the payment of that sum executed a bend for $66,000. Stern agreed, he says, that in the event the indebtedness was paid the obligation should be held void. Stern executed an indenture of mortgage covering about 11,000 acres of land in Ocean county. The lands in question were sold to Stern for $43,000, of which $10,000 was cash and the balance secured by Stern's bond. Receiver Bryant avers all the principal money mentioned and secured by Stern's bond and mortgage with interest from March 26, 1912, remains due and unpa d, although he has asked the defendants to discharge their obligations. The sale of the mortgaged premises in order to secure the Holland Trust Company its claim is asked of the Court of Chancery by the trust company. The defendants mentioned besides Stern are: Mr. and Mrs. Max W. Isaacs, Mr. and Mrs. Henry Staier, Mr. and Mrs. William M. Gill, Mr. and Mrs. David M. Steindler and George B, Astley. Edward A. and William T. Day, of Newark, represent the complainant.
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Barnegat Park Sold. Barnegat Park, the once countrywide famed resort for army and navy men, was sold at Sheriff's sale on Tuesday to Samuel A. Cook, of Neenah. Winnebago county, Wisconsin, for $41,558.62. The sale was a foreclosure by Samuel Bryant, receiver of the Holland Trust Company of New York, against Leon Stern. The resort town, Barnegat Park, was started about 1889 by Lieut. Edward S. Farrow, of the U. S. Army, who is now living at Asbury Park. He intended to make it a resort exclusively for army and navy officers, and more particularly a winter resort. He put into it a great deal of money, much business acumen, and an unlimited amount of energy and enthusiasm. The new resort had a rapid growth A fine hotel was built, called the Pines, and costing something like $40,000 there were a number of cottages started and a church was erected. The resort had its own bank and its own newspaper; there was a grocery store, a big livery stable and the future seemed assured. Then a lawsuit, or rather a veritable storm of lawsuits, broke out be. tween Farrow and his Barnegat Park Co. on one side, and thé Holland Trust Company of New York on the other side. They foreclosed a blanket mortgage on the whole property, and he fought it. In the Chancery court the mortgage was pronounced valid, and the foreclosure followed, the property being sold by John A. Montgomery, a Trenton lawyer, as .eceiver, and bought in by the Trust Company, while in another suit in the Supreme court, the mortgage was prouounced invalid. There was little wonder that ordinary foiks in this section could not get the right of the dispute. Lieutenant Farrow was arrested and taken to the county jail at one time in one of the many controversies; he was ordered to Montana to rejoin his regiment, and resignea from the service after going as far as Chicago, and returned home. For this he wascourt-martialled, but was acquitted. After stirring times the property laid dormant till about three years ago, when it was bought by Leon Stern, a New York real estate operator. He held it till now, when the receiver for the Trust Company, who had sold the property to Stern, foreclosed on the purchase price mortgage, and it is bid in by the Wisconsin man.