Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-11-10
BY TELE0RA
MAINE DISPATCHES.
WINsIOW PACKING co.
Gen. Mattocks' Reply to the Bill of
Complaints.

Fred Jones, treasurer, was recalled and
produced list of notes outstanding, inclusive
Of the notes due Thurber amounting to s40,-
200, and list Of contingent notes TO the
amount Of $500. He could not state the
value Of the stock at the factories, no &C.
count having been taken since Jan. lst.
The plaintiffs counsel offered a list of suits
against the old company, many Of which are
still pending and are claimed to be held in
court for the purpose of charging term fees.
J. W. Jones & Co.'S limited debenture &C.
count was also offered by the plaintiff. but
were objected to. 1t was finally admitted
Chas. Rich, accountant, was called for the
com plainant. On cross examination he
stated that he did not examine the accounts
to ascertain their correctness and that taken
altogether they showed balances in favor OF
Mattocks Of $50 900.
The complainant offered statement ofthe
account between J. Winslow Jones & Co. and
Mat,ocks commencing March l. 1881 and
settled Nov. l6, 1882. 1t was objected TO
but finally admitted. This closed the COM
plainants case.
In the afternoon session Hon. c. F. Libby
made an opening statement of Gen. Mattocks
defence, after which followed the evidence
of the defense, which consists of written
dispositions. Gen. Mattocks own deposition
is full and circumstantal denial of all the
matter of allegations in the plaintiffs bill.
g.Iyu aalactab from his
deposition:
For - years prior to the formation Of the
WinslOw Packing Co., was counsel for Jones
and familiar with the business. 1t describes
Jones reverses and failures and the forma-
ton of the limited English company and the
conduct and failure of that, resulting in call
ing on Mattocks TO form a new company to
rescue the property. Prior to the failure
Mattocks had endorsed to the amount of
SIS 900, for which he held debentures, as Sc
curty, to the amount of $50, 900, with stock
originally issued to Jones and had a mort
gage for $4,000, besides the insurance on
Jones life for $4,000. 1t was agreed that
Mattocks should continue to hold these with
the power to sell to meet accruing liabilities.
In forming the new company larger advances
were needed, and to induce Mattocks to or
game the company and assume the
liabilities, Jones agreed that Mattocks
should hold all of Jones property in his
possession and should charge one per cent.
on the sales and reasonable sum for pro-
fessional services. Jones also agreed not to
engage in any packing business while the
securities remained thus pledged, under pen
atty of forfetude. He further agreed that
the stock in the Maine corporation be issued
to farmers and secured creditors to the
amount of their claims against the English
company, and that the stock of the company
should be held by trustee until the stock
issued the creditors stood at par three con-
secutive months in the open market subject
to the trust in the Thurber agreement. BY
agreement of the same date assented to by
Jones, Thurber to furnish the funds for
the packing business, Mattocks to hold Jones
property and stock of the Maine corporation
to secure him, except ten shares also the as
sets of the English company as fast as ac-
quired.
1t was stipulated that Mattocks hold all in
his own name, Jones to have no part in the
management BY agreement at the same
time with A. Ii. Dudley & Co., assented to
bv Jones, Dudley 4 Co. were to purchase
ASCERTAIN amount OF the product OF the facto-
ries made, the advances on the surplus not
exceeding 10000 cases, and in addition be
allowed brokerage of five per cent less | !
per cent cash, Dudley 4 Co. to pay Mattocks
one per cent for managing the business, and
Mattocks to receive a like amount from any
other party making sales. Jones assented to
this. BY further agreement on Nov. Is, as
scented to by Jones, Mattocks was to sell, use
or redeem the collateral debentures of j.
to carry out the agreement of April s. 1882,
Mattocks to charge against the debentures
for the purpose of indemnifying the makers
and endorsers of negotiable paper, and to
charge for cash advances was to be at the
some rates paid Thurber & Co.-six per cent
per annum, two and one-half additional in
terest charged on monthly balances; also
a further charge for disbursements in Mat
tocks delivery of goods to Thurber & Co. In
pursuance of this. Thurber advanced
S267 900 in sight draft drawn by
Msttocks settled monthly by Mattocks'
notes, of which s45, 900 are now outstanding
for which Mattocks is liable as maker. As
security he holds all the assets and stock of
the new company. After Mattocks made
contracts personally for years business of
the company, formed Aug. 90. 1882, it voted
to assume agreement with Thurber and free
the assets of J. Winslow Jones 4 Co.. lin
tied. from encumbrance, provided Mat,ocks
returned as trustee for the Winslow Packing
Co. the securities held under Thurber con-
tracts. In pursuance of this vote the direc-
tors paid large amount of advance of Thur
Der, but are still holders for the balance.
Si5, 900. besides large sum advanced bv
Mattocks to free the assets of J. W. Jones &
Co.. limited for services, interest and COM
mission for which he holds property and
assets At the close of 1880 larca s,,,