Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-10-08
MIR. .EDMONDS EXPLAINS.
His Business Relations with SQuier
& 10.

His BuStneS0 Relations with SQuier
& Go.
HIS ANSWER TO THE CHARGES THAT HE WAS yrR-
TUALLY A PARTNER IN THE BUSINESS OF THE
FTRM-HE DENIES THAT BE WAS MORE TRAN A
CREDITOR. OR THAT HE RECEIVED UNLAWFUL IN
TEREsT-HE CLAIMS TO HAVE BEEN DECEIVED BY
THE FIRM.
District Commissioner James b. Edmonds yeSter-
day, as stated In THE STAR through his attorney,
Mr.. Nathaniel Wilson, filed an answer TO the sup
Elemental bill flied in the case OF Crawford against
Squier ct al. making him party defendant in his
answer Mr. EdmoDds denies the allegations that
his relations with the late j. II. Squier constituted
him partner IL the firm OF S1uier & Co, and en-
plains at length his business connection with the
firm. He denies that he claimed the assets OF
Squier Co, though he fled a petition asking an
order OF the court to restrain the assignee from
and contents that belonged TO him. and
which he had specially deposited in the
banking house OF MessrS Squier & Co
he AYERS that large amount or securities belong
ing TO him and entrusted 10 Squier & Co for collec-
ton on or before the Goth or May. lsSi were con-
vered TO their own use and paid To the.r creditors
or turned over 10 the assignee. and reassertS his
independent ownership OF all OF the securities and
vouchers claimed by him in his petition, and re-
leased TO him by order OF the court He SAWS that
the total amount OF the vouchers thus claimed,
consisting mostly OF pay vouchers OF United States
officers, was about $2s 44s A few OF them were
a
securities had been delivered to him by Sauier &
Co. for valuable consideration equal TO Their par
value, and upon the prouise 10y the latter that
they would redeem them collect the money
thereon Tor him. Or do what might be necessary TO
enable him 10 demand and receive the money on
them. As to their amount and value he had relied
largely upon the representations OF SQuier q Co..
and had been TO some extent deceived.
Since recovering the securities Mr. Edmonds says
that he has found about 5000 OF them TO be OF
such doubtful value that he has, in pursuance OF
an order OF the court rendered them TO the re-
ceiver and left them for him with his (Mr. Ed
mondsD attorney in the case, and OF the residue,
less that $4,000, some are OF doubtful value. He
denies that he has been at any time interested In
any manner In the business OF Squier Co. save as
a creditor. He denies that there was at any time
any contract between him and them except IA re-
llt1on 10 their notes. given Tor loans OF mony by
MIN, and In relation TO the securities taken with
the notes, and pledged for their payment Such
agreement recited what the facts were as he un-
derstood. and he believes the securities Were pur-
chased with the money advanced by him therefor
to Squier Co., which securities were TO be ami TO
remain his property together with such collections
maCe thereon. as Invested in other similar secur1-
ties would maintain the total amount equal 10 the
debt due him from Squier Co., pending Its ma
turity, beside paying monthly a certain sum TO
apply Oh the notes TO satisfy the interest and grad
ually reduce the principal Such agreement In
substance was intended by the parties 10 keep the
securities and collections thereon separate from the
general business and other transactions OF Squier
Co., and yet enable them TO collect such securi-
ties as became due and TO substitute Others there
for 1t was reduced to writing Gnd the CODY Is
annexed to the answer
He denies that the agreement was such In effect
as TO make him partner In the business OF Sauer
Co., and says the notes given represented actual
loans TO Squier Co OF money amounting 10 nearly
s4SoO upon which S42.OO Is still due subject to no
Offset except :or certain monthly payments In eX-
cess OF interest made since April 1882 to apply on
the principal OF the debt.
Mr.. EdmondS denies further that he has taken
unlawful or unconSconable interest. He admits
that he received per cent, 4, and at times IL
per cent per month as payments TO apply upon the
DEBT partly as interest at 10 per cent per annum,
prin h..
allowed upon final payment. He denies that the
sums so paid were from the deposits OF other cred
Nors. but AYERS that they were from the loans he
made or from moneys realized from his securities.
lie denies that he received unlawful interest or
any money that he was not equltably entitled to,
OF tnat belonged TO o. her creditors OF SQuier & Co.
He says all his dealings with Squier & Co were
with j. H. SQu;er. and he always understood and
believed he alone constituted the rirrn Eariv in
1879 ne says that SQuer informed him that the firm
was borrowing 10 ney OF certain persons and paw
Ing at the rate ol per cent month to enable the
nrin 10 purchase certain securities which their
lta was insufficient to purchase. and that the firm
wished TO borrow additioRa moneys for the pur-
chase OF official pay vouchers, and would pay In
terest on the moneys SO borrowed at the rate OF
from 10 IL per cent per month Sauier asked
him to loan them such money as he (Squero might
need. o1ering 10 pay the rates OF Interest given.
that he had no knowledge OF his RESPONSIBILITY and
that 10 per cent per annum was the highest rate OF
interest he had ever paid or received, and on his
account and on account or Others he would q div
loan money at the rate or per cent per annum if
the security offered was unquestonable Suhse-
Quently Squier came TO lin with some OF the paw
vouchers and exolafned their character and worth
and urged him to receive them as security for
money 10 be loaned TO SQuier to enable him TO pur-
chase the vouchers For The money SO loaned Suuier
proposed that the note OF SQuier & Co. should be
gwen and interest paid at the rate OF 10 per cent
per aInuln, payable at the end OF each month, and
a hait as much more TO be applied TO the principal
on ina settlement II was also propos by Sollier
that the securities so obtained should be delivered
TO Mr. Edmonds, and should be surrendered by him
as they matured upon payment of the money they
represented, or on tie substitution of others OF like
Kind and amount. provided payments were made
Detufe the maturity or the note or notes given for
borrowed money.
on such conditions, Mr.. Edmonds says, from
about April. 1879. and Prior 10 April 1882 he loaned
TO Squler Co iiS $50, The loans We're intended
TO have amounted in the aggreg tie 10 a small sum
oniy but from time TO time Squier came 10 his resi-
dence with more pay vouchers, earnestly asking
otner loans upon the same Kind OF security, until
they aggregated 2 large sum, and SGuier averred
that in & bret time Lee would be prepared TO pay
the entire debt. When alr Edmonds found that
payments We're not maze as promised he refused 10
make further loans, and took memorandum TO
protect his title ana right TO the vouchers aad the
collection thereof. August, 1883. Mr.. Edmonds de-
manded final settlement, but Mr.. Squier begged
so for further extension OF time period Of six
months that he consented thereto as TO $40 600 OF
the indebtedness lie then held notes for $4,000.
Because OF the reduction or the debt, though
Slight. Mr. Edmonds allowed SQuier Co, in The
exchange or securities, to reduce the amount. con-
Hiding In them as TO the quality and amount OF the
new securities before the failure. he was surprised
TO nnd that the amount OF securities held by him
was less than had been represented and less than
the aggregate debt, and In some cases OF doubtful
value The total sum paid HIM by SQuier & Co. was
less than s290O0. NO sum. he says. was drawn out
OF the nrm Dy him or received from il except the
payments TO be applied to interest, &C. He SKIS
that tie bill be dismissed as TO him.
The MOscs-TaylO Conspiracy Case.
At two O'Clock to-day Judge Smell, OF the Police
Court, resumed the hearing In the case OF William
B. Moses, c. c. Cole and James A. McDevitt,
charged with conspiracy. on the oath OF Mr.. Geo.
Taylor. Assistant District Attorney COyle opened
the argument for the government, and closed about
three O'Clock.
Mr. Tilden on Reform.
THE TWO PARTIES CoNTRAsrED-HE THINKS CHANGE
OF ADMINISTRATION NECESSARY.
Samuel j. TfldenH letter, In acknowledgment OF
the resolutions OF compliment to him passed by the
democratic convention at Chicago is published to-
day. He thanks the committee, and then goes on
to claim why there should be a change OF party
rule In the interest OF administrative reform. He
thinks It is vain to expect reform at the hands OF
the party now In power, and turns to the demo-
cratic party as the only one giving substantial
promise OF reform. He says: 1.-The noble historical
traditions or the democratic party, the principles
IN which 1t was educated and to which IL has ever
been In the main faithful; its freedom from the
corrupt influences which grow up the prolonged
possession OF power and the nature or the elements
lA