River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1875-01-29

was huch disappointed at my not having
found more customers; but as among my
friends there was none in business, or in
difficulties, to whom a loan could be more
than temporary staving.of Of the evil
day, could not recommend that money
should be lent them ev On the chance
OF their paying twenty per ceut.
AT our first general meeting we made
out what we believed was very tolera.
BILE statement Of accounts, an showed
that, although up to the present time we
had not actually made any profit, yet we
hoped shortly to be able to give a more
favorable and satisfactory account of our
trust as directors. Unfortunately, one Of
our shareholders was himself mo ,ey
lender, and he was unmerciful on us. He
spoke well, and he carried other share.
holders with him. lie declared we never
ought to have commenced business on so
small capital; that we had actually
done nothing that the loans we had
made had been rashly granted, and he
voted lor the winding-lp Of the company.
Having several of our friends present
we managed to out.tal him at the meet
ing; but shortly afterward he obtained
an order for the winding-up, and our
books, etc, were handed to him, as he
was appointed official liquidator of Kopp's
Company (Limited). My $500 worth of
shares had not been handed over to me !;
but as kopp had promised that this bus.
mess should be all right, | was not dis.
tressed or alarmed about it; knew was
qualified as director, and so there was
no cause for anxiety.
About a month after the affairs Of the
company were taken out of my hands, |
received a lawyers letter, stating that
the sum of five hundred pounds was due
from me for shares in Kopp's company
tLimited), and requesting that would at
once pay the money into the hands of the
official liquidator of the company. |
took this document to Kopp, who laughed
at it, and said it was a mere form, and
that he would see that it was all right,
and that nothing could be done, as he had
received the shares for me, and was
duly qualified. Although anxious | was
to certain extent satisfied by this state
ment, and took no notice &C The letter.
In about three weeks, however, on return
ing home one afternoon, was told that
man was waiting in my dining.room who
desired to see me on important business.
entered my room, and found dirty
looking man, who bowed to me, asked my
name, and then handing me paper, said
that he thought it better to see me him
self privately; that it was no doubt all
right, but that it was his duty to serve
me with a writ for $500 due to Kopp's
company (Limted). must admit that
this proceeding almost took away my
breath. jumped into hanson and
drove down to Kopp's office. lie had
gone to the north on important business,
and would not be back for a week or ten
days. then rushed off to the solicitor Of
the company, who said the opposition
hadn't a leg to stand on, and that of
course | must defend the action. On my
way home, met the Admiral, one Of the
co-directors, who blullly informed me
had led him into pretty mess.
"Led you into mess y | inquired.
"ln what way I"
'Why, do you think Id have Joined
this company" he exclaimed, sunless
Kopp had assured me there was not q
more careful man in London than you,
that you had examined all details, had
found it mast succeed, and had agreed to
be directort With your experience of
accounts, | never thought for one moment
you could make mistake, and so join
ed because you had done so. It's all your
fault, and I'm let in for five hundred
pounds, and my name is dragged in the
dirt, which is worse"
returned home with a thoroughly
puzzled feeling; that | had done nothing
really wrong, hoped, but ! was uncer-
tain about everything, for things seemed
suddenly to change their aspect, and to
present an utterly different appearance
from that which had expected. wait
ed patiently for news, either from Kopp
or the solicitor, but nothing transpired for
some weeks.
One morning, about six weeks after my
being presented with my writ, received
a note from the solicitor, informing me
in the Vice Chancellor's Court, and that
he had no doubt should gain my cause.
Ii was my first law case, and did not
sleep wink the night before. ] attend
ed the court, and hoped ] might soon be
freed from my liabilities, but received
fresh surprise. ] was disposed Of in about
ten minutes. II was shown that had
never paid farthing for my shares, that
| had acted as director, and was, from the
formation Of the company, on the board.
a somewhat severe censure was passed
on me, and an opinion expressed that men
holding such positions as had done ought
not to act in the manner shown by the
evidence. must pay $500 and f2l5 IS Sd
costs. left that court a miserable man;
but there was yet chance. My solicitor
advised me to appeal; the case would not
stand for moment; he could upset ii at
once; and ! should be wrong to submit to
the decision. Such was the advice; but |
decided to be rid Of the affair, and be
wiser, although poorer man. did so
and paid my liabilities.
Kopp had returned TO town; he was
busy with another company patent
fuel company-and could spare me bat
little time. lie owned that he had been
wrong in his ouinion as regarded my
qualification as director, but he could
not help il. lie himself was almost
ruined by the confounded business, and