Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1877-11-16

lh- famous nine, it seems. Is not yet out
OF the courts a bill IN equity has lately
been filed in the United States Circuit
Court, for the District of Vermont, by
Robert B. Chisholm. of Elgin. ILL.,. against
T.W Park of Bennington and II. II. Baxter.
Of Rutland. The main points of the bill
are as follows The orator, Chisholm, sets
up that he was one of the shareholders
Owning 4,79l, shares) of the original Emma
Mining Company. OF Utah that that
company sold half it, stock. IN April.
1871, to the defendant, for 1915 900, of
which the orator got his share that the
owners of the mine were then induced
to transfer the whole OF their stock to the
defendants and Joseph r. Walker and War
rem Hussey, to be held by them, or any one
of them, rs these four owners might agree,
an trust for all parties to the contract. and
that these trustees should have the right to
transfer Gnd sell all the property of the
Utah company to a new company formed in
New York, with capital Of s. .0OO, 900
that Mr. Park was authorized to go to Eng
land and sell the mine and that he disposed
Of it for a million pounds sterling, to a new
company formed in London. receiving hall
in cash and half in stock of the new COM
pany. which was put upon tho market and
sold that Park and Baxter conspired to
withhold information from the orator, and
to lead him to believe that it was doubtful
If the sale would more than pay expenses,
in order to induce him and his associates to
sell their share for a small sum that in De
December, ISL, they induced one
Joslyn, the agent and attorney Of
the orator, to sign contract by
by which Park was allowed, for his trouble
and expenses, all above one half of the par
value Of all shares of the stock Of the orator
and the other stockholders of the New York
company. which should DO sold by Park
that Walker and IIussey were paid large
bonus for signing tho contract. Tho orator
subsequently received from Baxter an offer
of SI60,oOO for the atlr's remaining inter
est in the New York company. which be
accepted, as he says, in ignorance Of the
facts of the case, among which are that
S 800 shares Of the London company had
been sold at prices much above par, and
that the. market value of the remainder of
the %, 600 shares was much above par, and
that there would shortly be due the orator,
under the agreement of Dec Q, 1871, over
$500, 900, besides the $4,000 already paid
He says that after paying all expenses, the
defendants received over $1,000 900, of
which sum tho orator was entitled to re-
ceiye 5000. 900, but has only received $780,
200. leaving about S4OO, 900 still his due.
lie therefore asks that his settlement with
the defendants be set aside. and that al &C
counting be had
The complainant originally brought suit
in New York, but for some reason dismissed
his suit there, ard began one here Daniel
Roberts appears as solicitor for the orator.
The reply of the defendants. it is fair
to presume, will set forth the fact, which
has appeared IN the previous suits. that
the value of the mine was greatly in
creased after Aessrs. Park and Baxter be-
came interested IN it, by their success In
Iuieting a claim which had before thrown
serious cloud upon the title to the mine.
As soma months elapsed alter the sale of
the mine to the English company before
Mr. Chisholm sold his interest to Park and
Baxter, it would seem that he had ample
time in which to inform himself IN regard
to the value of his interest. If every man
who sells piece of property which
the purchaser afterwards sells at
Il profit, should bring suit to recover
share of the profits, the courts would be full
of business. Previous attempts to prove
fraud in the transaction have not resulted
in making it plain that there was any more
dishonesty about it on the part of Messrs.
Park and Baxter. than there Is in nine
tenths of the operations in the Stock Ex-
change. Perhaps this claimant will be more
sucPesslnl