The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1878-07-31

| 80, if would take that l then told Won that
IL was useless to waste any more time in talk
ing; that there was one way, and but one way.
to settle with me, and that was to nav me 40
legally and In honor bound to do, the face of
my policies, and took my leave, but agreeinp
at your request, to meet you again the next
day in the afternoon. To make this narration
CONT lete, should say that. between our first
and second interviews received a letter from
M. Mnir u Son, proprietors of the Tradestone
mills, Glasgow, Scotland, transmitting full
account of the explosion and destruction by
fire Of their mills, in 1872. The destruction Of
these mills was
PRECISELY PARALLEL CASE
to 70 nine. read this letter to you, in which
they said that they had ESQ, 600 (ss45O. OOO) in
surance, and that the companies paid them all
without suit, but G200 The next day we met
as you agreed. Many arguments were made
use OF to induce me to compromise the prin-
cipal Of which was, that it would cost me a
great deal of time and money if had
to itigate; all of which admitted.
An arbitration was proposed. but
expressed preference for going before the
courts. l said to Mr.. Covington that supposed
that the companies at Cincinnati would be
willing to have one suit decide the liability of
all, TO which he responded very quickly and
emphaticalIy, No! which satisfied me that il
was not justice that he wanted but to threaten
me with annoyance to get a better compromise,
and responded that only made the sugges-
ton, supposing that it would be agreeable.
then suggested my
WILLINGNESS TO ARBITRArE
the matter, saying that the arbitration should
De here, where the witnesses all WERE and the
facts we'll known; but when I acceded to an
arbitration, your anxiety for one seemed to me
to quickly depart. No result having been ar
rived at, babe you all good-by not expecting
TO see you again. and expecting, so far as ali
the companies not represented in the State
were concerned, that l should have to assert nv
rights before the proper tribunal.
:, 10 my surprise, however, you called upon me
the next morning to say that you chad called
on me- not as an insurance man at all, but as
trlend!' thought that very kind in you,
considering our friendship one of SO recent a
date' having met you for the first time three
Gays before. You expressed great regret that
would not entertain proposition of compro-
mise: You were sure that would regret that
had not done So because it would cost me
more to htlgate than I would lose on a COM
promise. But another point you pressed with
good deal OF force and that was that many of
my companies, as you knew were very weak,
and you offered to
BET Me a SILK HAT
that twelve of them would fail before [ could
get Judgment against them. l took the bet,
and you, at my request. made memorandum
OF 1t IN your book, and did the same in 1uine
tou oAoiA oooh d ptuCll anu InaOe ng ureS, Which
now have. They were to the effect: That
you, MIR. Covington and Mr.. st. John repre-
sented $12O, 600, and that if would take SI1O,-
UOO you were certain that the matter could be
settled. declined, and again we shook hands
for goodbye but an hour two later re-
ce!Ved note from you, saying that if was
going to call that you wished thai would do
so at 3 P. NJ. l called at 3 P. NJ, and [ then
said to you: do understand that if should
accept the proposal to pay $4,000 for $3.50, 900
that you are prepared to close it here and
now: You responded that you were not bnt
would submit the proposition and recommend
1T, and you had no doubt the companies repre-
senting the $l20,O00 would all accept it. MIR.
st. John said, speaking for his companies that
ne was prepared to close the matter then on
that basis.
replied to you that if you had no authority
to close the case did not want to talk anv
more about it, but said that when the compa-
MES not represented in the State made the
proposition indicated by you 1 would answer
whether would accept it. yes or no, and left
you with the positive declaration that would
not make any proposition for compromise.
MIR. CoVlngton was not present at this last in
Jervlew. l ought to have said before this that
at our meeting the day before recognized that
you had me at disadvantage SO far as the
companies not represented in the State were
concerned. and I said, referring to those COM
panles. IF you make me any offer looking to
compromise tell you in advance that any
offer that contemplates deduction of over 5
per cent, will not be entertained. should
say further that you all agreed that the COM
panies represented in the State would pay me
In full, voluntarily, with one or two excep-
lions, which for the honor of those companies
you did not name.
l said to you that should take less than the
face of my policies from your companiesI
should feel bound to notify all other compa-
MES as to what l had done and why had done
it, and If they were willing to get down to the
same level should give them that privilege
[ have endeavored to make you full and
truthful statement of my intercourse with you,
and if [ have failed in any way beg you to
say where and if the same is true wish You
to say so in answer to this letter. as [ am not
willing that my position should be misunder--
stood by anybody. Yours very truly.
C. C. WAsHBUBS.