The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-02-01
THE STEWART WILL CASE.
Reply of Lispenard Stewart Esq.
To James Watson Webb,
TO THE PUBLIC.
OF THE COURIER AND ENQUIRE

L
TO THE PUBLIC.
have been forced in known to the reader to
publication Of the record of the surrogates Court in
the matter Of the will Of my late uncle, Robert Stewart
and feel due to self and family in connexion with it,
make the following brief and plain of
Strictly private these facts do not feel at liberty
to withhold them the position of defence which have
been compelled to take -
The Lispensrd estate, though large, in 1906 at the
death of my grandfather Mr. Lspenard senior great
unimproved and unproducve consisting chiefly
of meadows and marshes which, like much other proper
ty of similar character in the vicinity made
available building lots by filling and the opening of
streets only at expense runous well known to
many Of the original holders Nothing but the talent for
business unwearea vigilance, and skful management OF
my father Alexander L. Stewart aided by the experience
and large moneyed of his brother Robert Stew
art saved him in making hisporton Of the Lspenard
saleable from the bankruptcy which bee other pro-
pretors in that section of the city AS it was he did not
| escape perplexing endorsements for many years
At later period these embarrassments greatly in
creased by advances made to j. W. Webb establish
sustain the Morning Courier-advances which not only
absorbed all Mr. Stewards ready funds but required
loans by him on interest from others, and which effect.
ually prevented him. after the $780, from devoting
his to the Improvement of his estate and
from making investments open to him, under circum
stances that would in his opinion as often expressed
have insured afauence to his children.
From these and other causes such was the condition Of
fathers estate at the time Of his DEATH in 1885, that had
his will called for the settlement Of his affairs, and the
distribution of his property among his children would
have yielded very small dividend to each. Moreover
the just claims of his brother, Robert Stewart for ad.
vances made thirty years ago. would have covered the
proprety and the necessity Ia proprey and necessity in
which those Of the children Of Alexander L. who
knew the condition Of the property ever cheerfuy
quiesced) of leaving his estate he did by power
trust to the management and at the disposal of his bro
ther N.Y. father well knew, that this the sures
Inntt OE itp0f oh
mate completeness and he knew better than any other
could, FROM an association OF brotherhood which
without the separation OF day for forty years. that
his brother had no other object IN life but the interest Of
those children.
last the estate in condition even than the
Of my father The reasons for keeping together
degree and hence is, and hence only, that l.
trary to my wishes, have been left his sole devisee.
have sS alluded a to an made ~ my father to j. Wat
what those advances are but their whole history in time
and circumstances with constant assurances and demon
STATIONS Of speedy repayment, is in my possession in
statement after statement and letter upon letter. in the
handwriting of that individual himself To show that
there be mistake in the nature of these advances
or in the just claim of my father for their return will
without entering into detail of the
tons with creditors, assignments, &C., of the Courier
Enquirer which this series Of papers exhbits-gve one
two extracts only from his letters reference
them.
In long communication, dated Sept lst 1884, address,
ed to Alexander L. Stewart, and urging, on various
grounds, Communication Of the debt due by him. J. W.
"The Courier Enquirer is at this moment in debt up
s sa %s Now let Us
ally $4,000 of proftsof this 81 900 is nine must
live out OF it and will have but 1000 annually apply
of six years the debt would be paid; but how would
stand then with the worldl Why merely adding simple
upwards Of $50, OOOt = now propose
follows that you shall compromise the whole Of your
existing shall be cancelled. and new mortgage for
$4,000 executed conditioned thai shall pay $3.50 and
interest on the whole the 2sth day Of April next
and $3.50 and interest the whole unpaid on every
goth of October and April following"
deduction accorded by my father and constitutes
the SIT Don specified in the first Will Of my uncle Robert
Stewart the sum to be deducted from the portion of my
proceedings of the Surrogae's Court This $4,000
dead loss sustained by my father in compromising with
WWebb and entirely distinct from demands existing
at the time Of making that Will, secured by bond and
mortgage, and responsible sureties
On March 18th, 1885, J. W.Webb in letter to agent
ofMr Stewart after stating the failure Of certain efforts
raise money continues thus Tn consequence Of this
disappointment have called Tylee, and he has
sented to take $4,000 for his claim which under the
signmen $4,000 and interest from May ls 1882 equal
$4,000 Mr. Stewards is s25oOO and interest from sth
December 1882 to 9Th March, 1885, two years and three
"Now viii give A. L. s. and D. T. mortage on every
Of sash and one Of
mencng the LIST Of July, 1896, and terminating the
LIST Of January is4o with interest att per cent on the Is,
OF January and July in each Tyes to receive half
Of all payments till his debt shall be paid will then,
with Mrs webb. property and the aid of two rienls
Mr. stewart a will be pad within s
years. and will commence getting his interest immediate
ly. beg you to lay this letter be-
Thus, at the end of four years. it seen that place
Of the payment OF the $4,000 DUE after the deduction Of
1891, $4,000 exhibited, the debt Mr.. Stewart
Of this sum, Webb Averi of Troy, paid in ls4o as
surstes OF d W. weee o., some $4,000 IN western lands
] J. w. Webbs schedule of bankruptcy
These losses by Mr. Stewart by compromise and bank
ruptcy amount together to than $40 000a greater
than his estate under the best management is likely
divide to each Of his other children and sufficiently
accounts for the efforts of j. W. Webb nvalidae the
| will of my uncle.
Now, the justice and equity of making these acknow
lodged losses debt due by W. Webb to the estate Of
property rests simply and exclusively upon the
question Of the ProgriccTship Of the Morning Courier
the advances by which they occurred chiefly made
This question j. W. Webb thought proper to bring for
the memory and honor of my father and his we'll
merted reputation for integrity and uprghtness repu
tation which shall protect at all hazards From the mass
Of disconnected and deractve matter, obruded that
date upon the public the only points bearing upon the
question here at ISSUE clearly asserted and boldly upheld
LIST, that j. WWebb was only the nominal legal propre
tor Of the Morning Courier within the dates specified
while Alexander L. Stewart the real and bona-fde
owner, ed j. W. Webb, mere agent settling up the G
fairs Of he paper at aye, a weskty salary
3D. that he j. w Webb only appeared to be borrower of
money while the advances were in truth of
Alexander l.. Stewart himself
3d. that the monies appended and sunk in sustaining the
said newspaper, amounting the of sixteen
months between tyeny thirty thousand dollars
expended and sunk by MIR. Stewart himself This, it is
said and seemingly certified to- Mr.. Stewart had adj
J mitted
These three points exhibited in plausible and as
the asserter Of them evidently would have believed I'M
answerable manner We will show how far this is the
r case.
might, necessary, rehearse the contract Of the
purchase Of the Morning Courier, by w, Webb, from
my father, who held by assignment under a judg
ment for debt for the consideration Of $3.50 The orr
ginal is in my possession in his hand signed and
executed the 18th Of December 1877 and bearing upon
its lace and in its entire spirit every possible feature OF
as Can be drawn. Passing this by. however. shall re-
man perfectly satisfied as doubt not will be the reader
with my own position in the case, and the justice do to
the memory OF my father by the following brief pas
sages from in Chancery filed under affidavit by
J.W Webb, as defendant in pending before that