The New York herald., 1864-12-22

whose house in pars rsnested offer made 10 nj
In 1851, t elect 10 furnish or lend mihoa "
doll Ts 10 pay that dent In cons deraton oi wneh
was to receive bonus hsf the property, ana
have the entire control and cssesion o ~ Mr. ohoR
had made pro csiion TO Messrs. Pellet t.hnins on'
both Of whom had been bsngers has proposition VA
TO divide the estate into tentns. and give 10 tive
tenbs, 10 Measrs Pellet Luuins two tenths aod u
oach OF the or ginaI propretors testb
advance mouey TO pay my portion the debt 10 bs
estimated ony mi lion ard they we're 70 have al 10
terost OF one per cent month Tor ina. ahd t. tetan n
the propo tlou oi stock a5 security unti
t was paid What the ordinary rate q interest II
Cali ornia that time A. Two to two and half, and
sometimes over, month this proposition rejected
by gentlemen % whom IL had been proposed they
recurring DIV do the property into bths
eeve ,s Two ss aaS easer nsr'
gotati bore progressed came to believe that Il would
fail here and that th could obtain the property much
better terms they we're creditors TO consdei able
amount they finally that
bo divided INTO tntetns. OF which they
fourteen. to receive seven each OF Other
roarietors three Mr. Rings, who my agent AZ well
ss proprietor wrote TO about that time repose
tbat must sccede to the negotiation here or should lose
my estate there that had only the alternative OF success
here That the situation OF tho negotiations In
March. 1887 A. That tue situation corouded
TO 60 with the negoti tons hero; considered that
three eehths Of the estate, with its debts i'd aud ts
property reduced pay condition, bette
than At ALL therefore did everything In my power
to carry forward the Degoon here and about the end
r. Jrne the settlements ali agreed upou and the
papers executed and tho company formed .. When
the company was thus formed what was the
with respect to the securities the satisfaction
and paymeut OF the debts, A. Bonds the new
company were issued to the amount OF ST. COO that
Was part OF the arrangement. q What were tho debts
thus 10 be discharged. A. The debts Of the property
liens and encumbrances the property and the debts
generally My understanding was ID the debs OF the
estate incurred developing the estate aud in dc ending
the attacks OF the general government to
to be changed that only the recorded lions that held
the estate were TO be paid That came up gradually In
the course OF the nepotaons and the sub ect OF the
contracts During some of the negotiations in Europe
WAS the unsettled title ,nd The claim the United States
embar arrassment and when IL removed A. II was
finally removed by the las Of patent In 1865 by the
general government 1t had been great imped iment
in Degotisons in Europe and in this country, and In
the practical working OF the estatetbe attack OF the
general government upon that tte among others in
California O. Before these negotiations all that had
passed. A All hao passed; the title was sure and
O. what was the par value OF the sbsress A. 500.
Q Wat number shares did Mr.. Seiover receiver A.
II 800 z And Mr.: Blingsr A. The sameni2 500.
receive their three-eighths clear from any
ributons? A. Tney have held since have received
them How were The 81 500 shsres presenting your
Eve eighths disposed o.? A. Under the contract
der the written agreement which accompanied the
tract OO0 shares became the property OF tho three zen
temeu who engaged form the company obtain the
money necessary to do ths-Mr Ketchum, Mr. Opdyke
sod Mr. Hoy. @ That left 81, 500 shares. What was
doEe with That's A. o. that, under the written
agreement, 1000 shares were paid to Mr Field. O.
$500 .O00f A. Yes other division distribution Of
except the amount Of 200 shares to Mr. simon stevens
O. That left 81 500 shares Was any portion OF that
placed IN the hands OF Msssrs Opdyke hoy Ketchum,
either OF thema A. Is 900 paced In the
hands OF Mr. Morris Kechum O. That left in your
$500 sharesf Yes. O. The first 5000 shares that
vent TO Opdyke Ketchum Hoy wont to them as their
absolute property A. Yes Q. What the disposition
Of tn, Sc cther rs 900 shares TO Mr.. KetchumY
mr. n.n.r appGsrs ren ". paper M es Us
nal agreement between Mr.. Kotchum and myself. q
Have you tsat papers A. ] have with me; have
duced copy, which was shown 10 Witness O. You
executed paper o. which this 10 copyt A. Yes, sir
10, 1881 q When did this matter OF executing such
payer, any such disposition OF that STOCK upf
came up 10 the course Of the negotiation and about
the Il was executed. Q. Was II one OF the cond
tons OF the transaction that this disposition Of these
twenty 1--WE thousand shares should be mades A. IL was
required think BY Mr. Ketchun that that disposition
snoud be made of that Q Before 1t Was CON-
pletedf A. Certainly it 10 the Of the nego.
ta,iou and In the discussion Of It's terms what did
you understand was the coodso required In respect 10
these. twenty-five thousand shares Of stockf Job.
jectiun offered offered and Overruied) A. Mr.; Ketchum
stated that the gentlemen here who under
took to form this COMPANY, aod we're h
responsible IT, desired have ce2ro Of i, here
make any change In my ownership, ana transferred
large part OF my shares that tho control q might 60
sonaly sed IL might occur sooner or later sooner
rather later and they desired ai events bs
protested AGAINST such they wished 70 re-
tain the control here that amount or stock order
70 enable bin 20 vote upon ~ thas Mr.. Ketchum's
for asking that concession from regarded
. concession, but aftsr some debate yielded H. O.
Mr. Ketohum had other than these other
slsmeny A. regarded his interest in common with
others do not knew what the relative proportions WERE
O. Was this simply obtain the right 70 vote upon 10y
COLLECTION offered and overruledJ a. That the
son given by MT. ketchum.
By The Court-st the stock wss actually transierredY
A. IL actually transferred and held in trust 1.-The
agreement between John G. Fremont and Morris
dence O. IL stated 400 900 10 tho
the bonds issued pay the debts OF the estate. What
caused the dereucef A. 1t thought from Mr.. Hoys
examination in California that that would probably y
the debts; II tho nearest amount which no could
reach the resnns amount was propossd to DO used In
developing the property. q These bonds the FIRST
lien up the property A. They made 10 be the
first lien, secured by mortgage. Al what stage in the
progress OF this affair did these demands two thousand
Mr. stevens and to Mr. Field come M and In what
way did they come into the transaction A. Tho amount
originally offered by me in this arrangement was one
quarter Of tho property IN the the negotiation
II to be hold by the three (kechum, 0pdyke and
Hoy) that that belonged principally to them, and that
Mr.. Stevens entitled large share of the
amount There Q discussion and some disagreement
with regard it, and there hsd been change 10 the
form Of the negotiation, mich gave me rather larger
amount OF snnes than was originally entitled to, gave
Mr. steveus voluntarily certain amount, which amount
comprehended both these amounts-the two thousand
Field and the two thousand shares To Mr.
Stevens that was, In orief. the arrangement q. How
did yeu learn that two thousand shares desired to
be paid to Mr.. Fieds A. | learned II from Mr.. Field
himself O. AT what stage OF the negotiations thst
told you by MI Field himself that two thousand shares
we're 20 he given 20 him9 A. think II was shortly be
tore the conclusion tho negotiation cannot be certain
as 90 date. During the pendency and in approach
ing the point Of actual conclusion: were negotiations
regard TO carrying the thing ou Constantly by letter
and By telegram; very frequently. q AZ what stage
IT, and by telegram, that you learned that you
must close Il here, for you could not rely upon the
negotiations therer A. More distinctly In the month
OF November, from the besnDing o. the month the
close, by letter and by telegram. both. O. what WAS
the occasion subject OF the interchange OF teegrams
up to the very point of closing ths9 A The subject was
negotiation here in connection with the negotiation
thai side q. when this statement made by Mr.
eld that two thousand shares were 70 him, 10 what
form was II made2 Had there been any agreement that
you TO part with any sharesg A There had been
agreement made with Major Simon Stevens that was TO
pay q certain number OF shares TO him, which number
comprehended those which Mr.. Field was TO receive !
had arrangement with Mr. Field in respect TO the
shares; the understanding was with Mr. stevens. U
Did you know this to be thousand shares before
he informed you what II was IN be9 A. did not. q.
Ihen up 70 that time the only agreement was that
whatever Mr.. Field was 70 receive you were
to pay7 4. ] knew vas TO come from
me In that way. Y. What this pay.
ment Of $500 900 Mr.. Field Tor A. II was In con.
saeration OF counsel and legal adviser in
tins negotiation. Y. Had tho payment to Mr. Simon
= nxth In do iii nnv nd IN M