The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-05-02


C. L. Buist, Esq. counsel for G. W. Williams,
then presented his answer, to wit:
George W. Williams, one OF the above-named
defendants answering the compliments. says:
l. That the firm OF George W. Williams Co.,
which is composed OF himself and five others, and
engaged In an extensive and varied business, In
the Cities OF Charleston and New York, some time
since became the owners OF an amount OF twenty
one thousand eight hundred and ten ISL, ,Slo)
dollars six per cent stock Of the City or Charles.
the first days OF June and October, eighteen hun.
dred and sixty-eight That when the said stock
became payable and redeemable, the said arm ap-
piled to the City Council OF Charleston loI the pay
ment OF the same but were informed that 1t was
Impossible at that time to pay the principal, put
that efforts would be made TO effect settlement
with the said 1rm for the amount by the transfer
OF securities ct their par value, or on some other
faIr and liberal basis. And the said firm being
well content with this understanding, and desir-
ous not to press the said City Council OF Charles
ton for the said amount dpe, or to de any act
whereby the said City Council might be In any
wise embarrassed In the administration OF the
city government retained the certificates or STOCK
receiving the interest thereon from time to time
Some time however, about the commencement OF
the year 1869, it came to the knowledge OF the said
firm that III. executors of George Glbbon. who
held on 3ehalf OF the estate OF their testator,
large amount Of the stock OF the City OF Charles
ton, to wit: an amount OF forty thousand seven
hundred and forty ,T40 dollars, which was also
PAYABLE and redeemable, had commenced suit on
the Law side OF the Court OF Common Pleas Of the
County Of Charleston, to recover Judgment
against the said City Council OF Charleston for
the said amount due them, and thereupon the
said firm OF George w. Williams Co., with a
view OF placing themselves on the same footing
with the said executors OF George GibbOn, and OF
preventing the said executors from procuring q
preference against the said firm, by obtaining q
| Judgment for the amount due them, and thereby
securing lien upon the property OF the said City
Council OF Charleston, which could be enforced to
the detrlment Of the said firm and their claim for
twenty. one thousand eight hundred and ten
f(s2l sio dollars placed their certificates OF stock
In the hands Of their attorneys, with instructions
teprOceed and demand judgment whenever the
executors Of the said George Gibben had procured
Judgment on their claim. And this Defendant Is In
formed by the attorneys OF the said firm, that at
the last session of the Court OF Common Pleas after
the executors OF the said George Giboon had
recovered Judgment on their claim. they did, act
Ing for the said firm Of George W. Williams Co.,
| also obtain judgment on the claim OF the sald
| firm against the said City Council OF Charleston,
and on the eighth day OF April, eighteen hundred
and seventy, caused the said judgment to be en-.
tered up, In due form Of law, In the office OF the
| Clerk OF the Court OF Common Pleas OF the said
| County Of Charleston; but no proceedings what
| ever have been taken by the said hrm or theiI
attorneys to enforce the said Judgment nor have
| any arrangements ever been made by the City
| Council With the said firm for the transfer tC