1905-05-21-New York Times-Odell Suits Discontinued

New York Times

21 May 1905, page 1

ODELL SUITS DISCONTINUED.

Action Taken on ex-Governor's $170,000 Shipbuilding Actions.

NEWBURG, N. Y., May 20.--The shipbuilding suits recenntly brought by ex-Gov. Benjamin B. Odell, Jr., were discontinued to-day before Judge Dickey, in the cases of the defendants james T. Boothroyd and John W. Young.

The case of Benjamin B. Odell, Jr., vs. the Mercantile Trust Company, which was an action to recover $170,000 for alleged fraud in inducing Mr. Odell to invest in the bonds of the United States Shipbuilding Company, was on the April calendar of the Supreme Court at Newburg, but was put off on account of the absence of Mr. Odell in Europe. The case was to have come up again next month.

Gov. Odell, in a statement made to THE NEW YORK TIMES last year concerning the Shipbuilding suits, said that he was acting entirely for himself in bringing the suits, and was trying to get back what he had lost on the deal. He said his actions were against several firms and corporations which were originally interested in the Shipbuilding Company. When he went into the concern he paid about $200,000 for the stock which he had received, and when it was sold at auction he received btween $40,000 and $50,000. It was for the difference, he said, he went into the courts. He said he did not know who got the stock he sold, but that he was going after the "original thieves" to get back his losses.

"When the case comes to trial," he said, "the people will see that everything is open and above board. I have been charged frequently in one of the New York newspapers with being wrongfully connected with another business concern, and with using my political influence to the conern's advantage. This is not true, and the people will see at the trial of this case that my part in it has been purely a business one, such as any man might have.