Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1881-08-01

sell it to Stanford Co This proposition seems to
have been acted upon negotiations we're had with
the latter, and an offer finally made to purchase
the road, and to pay therefor the sum Of 500 600
IN bonds OF the railroad company Suhseousntlv
the parties advised that this mode Of pavrosnt
might be Illegal; and thereup0n L was agreed that
the sum OF sizes 900 or thereabcuts should De pa.d
in cash for the road
In the negotiations upon tins matter Lester L.
Robinson seems TO have taken an active part He
sreely participated therein a1d seems 70 have con-
suited counsel as 10 the pr3priety OF the proposed
method of sale. He testifes that he was advised
By his counsel that Stanford Co could not execute
said bonds in payment OF sad road, and he also
seems 10 have subsequently assented TO- IT, indeed
he did not assist In procuring the agreement TO ae
cept cash in lieu OF said boads
In pursuance Of this agreement the sale Of the
road was made to Messrs. Stanford, Huntington 4
Hopkins, who, in payment thereof, executed three
promissory notes, all Of which were payable to the
order OF L L. Robinson, for 81 coo one for $50
655 and the third for SllS,Ii5. The las, mentioned
note, it seems, was indorsed by l. i. Robinson to
Wells, Fargo * Co, the amount Of the other two
notes being retained by himself
Mr. Robinson IN his testimony denies that the
sum of money paid Wells, Fargo 4 Co. was TO pur.
chase the interest of the first mortgage bOndhold
ers, and emphatically denies that the amount re-
ceived by himself was in consideration OF the sur
render and the levy of the bonds he'd by him or his
brother, the plaintif herein.
great deal Of testimony was taken on this point,
and from such testimony it plainly appears TO me
that all the parties in interest agreed 10 this sale
that 1t was the understanding OF McLanc, as Trus-
purchasers and III MIR Robinsor himself that nno,,
the ,ayment Of tins sim az one hundred and sixty
eight thousand dollars these first mort ace Londs
should be cancelled and retired.
Pursuant to the Hartley agreement the bonds and
stocks WIRE returned fron, New yo-l, and sIhse
quently came into the possession Of Mr.. Mel.sne.
In order to ascertain the ratabe share Of each
which no should he en,i,l.i ~ Si.To,e saerns 20
have intrusted 10 l. / Rob;,,sa,, ali ~ tbs h,n5s
inns received tbssa b0,ds b;, a.,;,,s1 II, a IN,
nv which NJ N,I a,,a bi T., ~, ,,ssia,, "a
which tin boy with All its c,ntcrts ,ras nv mir,
turned over 10 Lester / Roh;rsT,,
And here IL is apparcnt tbat Mr. Mel aue ut this
time must have been Induced by Robinson 10 sun
.nrse that he fRohinso,l US itrsts in .his trans
action.
He seems 10 have made him the custodian of the
bonds. and the distributor of the funds and 10
have Teposed entire confidence in his integrity in the
nren,ises
Mr. Huntington. whose deposi' ion has been taken.
and also .Judre Robinson. both Of whom r,rtici,
nated in Tho uegotation for tine n,,r,hase of this
ND testify that they regarded Robinson "a heinr-
interested in The transaction and testified tbat he
sim, naid nv them was To secure A rerfect title tn
the road and 10 be appropriated for the eXtin,uish
ment and Cancellation of this Indebtedness
Certan il Is that the amount Maid nv Stanford 4
Co was never Intended hy them 10 be paid for. nor
received Inv Wells Fargo Co as satisfaction OF the
first mortgage alone. The parties purchasing con
temnlated chat they were obtaining title to the
Nr.r llrrE 4 ~ v.
siopIv \ second MORTGAGE. and its purchase could
not have Totten rid of the first m rtrage bond
which il is Claimed nv nlaintH herein Was a pror
lien on said road
siIfeo bncdrad dollars note bersin mentioned
which was received by Robrson-y1s ,,anifestlv
nail him for services I'm ,rot1ripf- the Xtiucton Of
his indebtedness He attempts' Il is trTc. 10 nc
c1nnt for its delivery otherwise Int 10 my mind
tb ex,rot;or ia IN rnstislactor,, "a 10 render n
entirely nnW,orthy Of belief He slates nat the
notes were divided IN this manner because as he
thought, Wells Fargo & Co. might at some time
wake M to the idea that they were entitled to the
whole tf said sum of sl8S 600 II that WAS So il is
cl ar tba, Robinson. who claims to htye a5propr
ated AZ least norton Of the So oc1 note toward
tha oay,nsnt nj the frs, nor,gags bo,ds had no
r;Sht or authority Whatever To do 50. Because
Clearly he had no mower To eppropriate The money
of Wells Faro 4 Co TO nav indebtedness of am I'M.
solvent railroad corporation
That Robinson contemplated the sun, received by
hin, as 10 no annlied i'm the sstisf,ction of the
bnnds mentioned in the command IL arnarent
from letter read in evidence marked EXHIBIT D.
,Iotad January ~ 1870 stoned hv T. l. Robinson
useeu i,-a ., - NJ & ; A. RhiS,
aclnowlaoes the recent Of certitcates Of stock i'm
,h a, e9raniSation PiaceryiIIc srd Sacra
msnto Valley Road" To CORRESPOND wits III cur
800, bonIs' aud three crrrencv bonds in the name
Of 7 "a Rob;nson And he there directs Mr. Davis
~ s,,rr..nder to Wells Farro 4 20 tor trlnspnrta
t; y. Sa Frorcisco for The nnrnose nj ,apceIla
49,; 81 Sai,,ar ~. ,,or,as,e hands Of sid cam,
' r,Uu, s'' ''' 0''e 90
pau" anns,ded 70 this letter was reeeipt spned bv
VIII Fro { 70 stetin, tbat thcv have Teceive1
tron, NJ 96svis the bon5s above mentioned In
~; -, 49,, ha,a a cIsar - coontiop b,, Mr. PnL
us; -. hsaiT to The efect tbot The carti6cn,es of
l,so - I'M a,, were received br bm in
=, ~; w." s ,ho III bond referrsd ~ in said
Sa! VI Wv 49,
ieItei. .h.. ,so- .bo r,,,.,.,, ,o,~oo
- ,,o;,,isf ,,ai,,s ,,,s ,,a,,a, -, ,-sJ ;n,o
at,an, Wells Fac 4 20 f,recosed i.s noortpage
nd so,d re nronertv of the cornoraton Defendants
- h ponerty 20 be bongh, in Nv, WiIiian,
Use, ou' .. ~, of Wells Ear-n & 70 aI,s,a
AZ. ~ a. y, ,h .iao ,n,io5cd IN tb Uart
i Hu' a ., ~ uosut VI '''N
AZ mee,ino Of the new cop,papv thus Organized.
III Saa,,bae9 1e Isea + / Prnbinson bei,,,g nrss
nv. ~ -; as ~, scrs,ar,. (, ,-os rosoI,,ej ,bat a
,o 10 Sornnictsd for the n,rnose of neyotia
80 H. soIo az tba rod ard un5n such committee
y'I ny , 80 ~ ,a+d a,,d 70 tb ,,irrtas
- t ~ ,nn;n bs s;pps,,r as Secretr was nm.
aIa5 "-No''''e ~
Az ,o;usl,, stated l. T. Robinson subsequently,
20 .;I;ta ~ anS assisted in tho neScfiafions
n,bicb resIed in the sole of the road pIrsuant to
hisrssoI,,,;on
The AGREEMENT seems to have beap
,;tI,, adbSrc1 IA NV ali of tine rlarties ami reeoy
ST. &c ,stine, and veiid nnt;l it,as s,,bseouentfy
diecovered that money sufficient 10 purchase rolling
stool for the road conld not be obtained Where,
unor Wells Fargo & ca and Mr. Robiuaon seem to
~ oHce;yad the idea of The sale of lie Dad lin
=, ~ ti,,o however they had strictly adhered IN
t6 ,eras NJ the Hartley as,reemont Ard on tbiI
occ,sian bev divorced theTefrom only so far as To
reso1re mon the nronriety of selling the road
In tho statement unon The sale of the road which
Pobineon himself made alter RECEIVING the bonds
fro,,, MI ene II is recited "a follows.
az eetar + Robinson settles with 300 currency
bonds and two cold hon Is. total 222 bopds'
IT, NV mind however the most conclusive evil
dare ~ the truth of the defendants theory is fur
nisi 4 b, The letter dated JnIv 81 1871 addressed
10 William Alvord. and signed, amOng others, by
u y pnbi,snn ,y6erein Nr slvorJ VINO as bays
st,toS US tba nnrchaser i1nder Wells FARGO e.
20 = mortgage was requested to convey by a
,1rcnor Geed 70 StanforI i % the rsilr1ad mr.
apsssod bT HIM AZ the sheriff sale Tbis letter
S,des oo foi,oUr. s.At tbe t;ma yor ,,,,Tcbassd
80; ,os II "s ,piarstood anS ,o,oa5 that Won
hn,td boiS II in ,rnst for fhe underIi,ned and
ST. y ras ~ he tban, rTI,s ,II,ls,sied for
ny e. ItIif ~ ,hsis oS fs santi
- - - .a,,,as, 90, ~, ,,,ol,s :, ,,,.i,r,,,Co &C
- ~ 100 a. 4st ~, ,es5 T., ~,
IT, =: -. reo,o-, ;.i',r - - ii,;-So,, q ~,
50 ~ NJ aTvord r1ada sr1cb 1nrnSssa on bis ~
III Us VII 49, &. ~ . bsbaIf .,sd n djrsc1,on
W. ~ r ~ go, ,,Sstes 10 ,,ata a. co~s,.a1ce ~
~ M e a. L;oh = l. -, ,ioi, srbt
: '' . ~ w. "'''s ~ 20 ~" 0~'''
" ~. t.Io,ro NJ lyoI ava .,s.;eoc .lt pli,so,
~ - "a H. o - -, IL, - ~ &C.
~ 81 '.,s 80 - -, - ~
49, y, mo - :, 49, - IL. ~ IL 80 - - .ba+
70 =, iise oe ;'i; ea'i So % Vi i - "a
iNoo.iIso.i ""s s W - -. 4, ~: y y, - - -
Ia ne i" I.i N'i SUI 'e'' N
"s 70 enI ~ $50. $500 ..;,; - ,1 sd ,,-oar,
Mr.. huntington testlnes similarly, anu S" t
poslUiVely tuat MI NooinSOh asteeu u 49, oNS
the road Tree IRON lneumorahee' lFaSC -fi'i -:
He also testlhes that L. L. Robinson came 70 nm I'M
in New York to sell the road, and that az tne.i ass
talk Robinson SAID to nm that ne was nos sassueT