National Republican., 1880-01-01
rnE yoRrnERv LIBERTY M.IRKEr
L!ugntlon over the Property.

Mrs Mary T.. Woodward and Mrs. Ada Reed,
daughters of tho late George Savage, have en-.
tered suit against the Northern Liberty Mar
kct Company through Its directors, Theodore
Barnes, George NJ. Oyster, Johu r. Kelly,
John J. Lightloot. Jacob II. kcngln, John II.
Click, William Miller Edward Gummel,
Michael G. Weaver, John RUPERT and Samuel
S. Coggins in their own behalf William Gun.
ton as u stock holder and Edward Temple and
Martin +. Morris as trustees. The bill sets
| forth that on May 1S, 1874, the plaintiffs, to-.
gether with George aud Susannah Savage,
conveyed to the corporation oil that parcel OF
ground known ~ Savage Square, which was
reconvcycd TO George w. Riggs, Richard T..
| Acrrick and Il. w. Jones as trustees to secure
the compainants 100000, tho purchase
money.
On may Is, 1873, by mutual arrangement
between the parties, the property was released
| ltom the deed of trust, tho bunds cancelled,
ana IL was then recOnveycd TO tho corporation
for $4,000, Mcssrs. Edward Temple and
Martin +. Morris becoming trustees The
money was represented by bonds Of the com.
pany, aud 100000 worth of thcm wore de-
liyered to the conpldinants, representing tho
unpaid purchase money due them and tho
residue were delivered TO William Gunton, to
cover advances made by him to the company
Between June 81, 1874, aud May Is. 1915
tho corporation sold to Theodore Barnes
George NJ. Oyster, John II. Kelly and over POO
other persons leases for nincty.niue years for
stalls in the market house, receiving except
800 cash on each STALL tho promisOry notes Of
| tho purchasers.
The latter constituted the fund upon which
tho company chiefly relied for payment of the
bonds held by the Compiainants and Mr.. Gun
ton at their maturity.
The stallholders having been advised that
| by reason OF having purchased their stalls sub
tap Il nf
meut of the purchase money of the square,
| they were liable at at any time to be divested
of their title to tho stalls by Il foreclosure of
the second deed Of trust, refused to pay the
promissory notes without some guarantee that
! they would not be deprived OF their rights
for which the notes wore given. Tho plain
| tifis offered to give that guarantee, but Mr.
Gunton declined, cOnsequ ntly the stall
holders refuse to pay the notes and this com.
pauy cannot procure the funds to redeem its
bonds In July last, $4,000 of those bonds
held by the petitioners became due, and
neither principal nor interest was paid, where
upon directions were given tho trustees to
proceed to sell, and the property was adver.
tisod for sale. Mr. Gunton declared that the
deed Of trust was void and imperative, as it
was not given in pursuance Of II vote of the
IsockhOldors, aud the company paying 81 900
of the 50 100 interest due, the order to sell
was cOuntermapded.
The orators claim that there is now due
them one years interest upon $S5.0OO Of tho
bonds In addition to the $4,000 in bonds.
| 1t is charged that the directors of the com.
pany are applying the entire income Of tho
concern, less running expenses, 10 tho pay
ment OF tho floating debt, notwithstanding the
fact that 5000 Of general taxes have accumu
lated against the property, and 1t has actually
beon sold for the non-payment of the same.
In consequence of the cloud upon the title, =
sale cannot DO made with advantage and the
complainants ask for discovery rs to the worth
of the first deed OF trust; also the second; that
the defendants sot forth tho floating debt of
tho company held by Mr.. Guuton aud tho
Bank of Washington what was the consldera.
| tion given, and whether the revenues Of tho
company in excess of the running expenses
have been applied to the payment Of tho float
| ing debt to the exclusion Of the paying of tho
taxes and interest OH tho bonds; that if the
deed of trust be invalid the property shall be
subject to II vender's lien in favor OF the ora
tors for the unpaid purchase money; that the
directors bc restrained from using tho funds
to pay the floating debt peHdenLe lite, and the
appointment of recei YER.