The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1886-12-23
LOCAL NEWS.
TlleCourt,

The Court.
| o. K. Ulsaker vs.. Allen j. Good.
hue, John Nelson, John Johnst on
Joseph Koebetich, H. A. Workman
and James Purdon, indemnifyine
bondsmen of the defunct bank
This is an action growing out Of
the fact that these defendants be.
come conditional surities on the
banks bonds to the county treasurer
securing him against loss from l,:.v.
ing placed money in the bank. The
treasurer testified to having had
$27 ,860.81 in the bank when it fail.
ed, and that he had since been un.
able to recover the same from that
institution. He exhibited a bond
from the bank, supposed to secure
anything up to $4,000, signed by
the above named defendants !; and
exhibited in evidence three cashiers 5
checks for $4,000, which were in.
cluded in the above amount on de.
posite, all Of which he had beel, un.
able to recover from the bank. II
was shown in testimony by tho de.
PENDANTS that the last day of Janu.
ary, 1886, a meeting occurred he.
tween tho plaintiff and defendants
Goodhue, Nelson and johnson at
the house OF j. w. Hayward, latter
being spokesman, when it was gen.
orally conceded that Mr.. Ulsaker
wanted bonds to secure him for de-
posits. That Mr.. Hayward said he
could get Cleveland men, calling
them by name, stockholders in the
bank worth million or so, to sign
the bonds, which Mr.. Ulsaker
thought would be good enough.
Then Mr.. Hayward suggested that
should he get these parties, Wahpe-
ton men would likely sign the same.
And with Mr.. Ulsaker's urging
that the blank form of bond be
mailed at once-as these men testi-
fy-the treasurer took his departure.
This was acquiesced in by Mr.. Ul-
saker. And further that day or
two thereafter Mr.. Hayward took
a blank form to Mr.. Ulsaker's Of
flee and asked if he thought it
would do when completed, latter
answering affirmatively. This con-
tanned the place of residence Of the
Cleveland men in such way as to
leave room for their signatures.
Mr.. Hayward then induced all of
the first named defendants to sign
the bond,-especially workmen,
Kobetich and Purdon,--with the
understanding that it would give
the Cleveland stockholders courage,
seeing home business men on
the docum ent and thus induce them
to 60 on--in fact there would be no
difficulty in this respect. And with
this understanding the home men
signed the document. Subsequent
| ly, on Mr.. Ulsaker's second or third
application, Mr.. Hayward repro
duced the bond minus the Cleveland
men, and as he testities blotted out
in Mr.. UlsakerS presence, the resi-
dence of the Cleveland parties
which followed the blanks where
they should have signed, and saying
to him, "you know the condition
on which the bond was signed by
these men, if it is of any use to you
you may have it,; the Cleveland
parties refused to sign because they
thought it would look like weak
ness on the part of the bank" Mr..
4 Ulsaker left the bond few days,
saying he would see his lawyer and
finally coming back took it away,
and when the court was in session
February last, asked Gen. Wilson
his opinion Of it, who told him it
was properly executed and would
hold, when the treasurer again laid
it carefully away and continued to
put, money into the bank. Now
the question to be determined in
court was whether Mr.. Ulsaker
knew of the condition on which
these men signed the bond, which,
could it be established in the affir.
native would unquestionably throw
his case out of court. Or could ii
be established in the negative, it
would absolutely hold all who sign.
ed it and knew of its delivery with.
out the Cleveland men, and it was
finally sworn to that no one except
/ Mr.. Goodhue knew these facts, (that
is, knew of the others not signing
and delivery, aside from Mr.. Hay.
ward. the banks agent in this sense
In sddition to above Mr.. Purdon
testified that on his visiting tbe
treasurer's Office, after the failure te
learn whether the Cleveland parties
signed the bond, Mr.. Ulsaker made
: the remark that he knew the latter