Telegram-herald., 1889-09-11

aoent lnhai>assa-
Tie sut of : B Tbbets against the
Valley t-iy Street and NAtie h@il"AF
Company and Others. occupies tAs I
teDDOn ~ Ile clrott coAft tei tisS
greater part uf Yesterday.
Ia snsHeF to Il.e arh4as - and eolfs-
,Ilnle1et introduced as evidence ~
.oisgs AtAlaR-ts Aere Submitted us
James BLAIR A. j. Bovine and " ,.
Crosby
Ia ms AFFIDAVIT Crosby states that
atoaI aGe ls ne and Bgeed bad tax
nllA ilts~ts - IA iat fleW "a purcnas-
llg ilIs interest ~ lolh Ile construction
company ard tilt Dab.S company, Ana
taat lsls interest Was "a tle amount Qt
apout sbVoo. For tA.s interest 'the.
offered hlm $1,000 provided lAe eanie
oompanN pay rs indebtedness to iAe
construction COMPANY They knew
inis offer Was au SN0re.tAlt one. hut
tley considered IlbletsIo bs trouhle-
s9nle. malicious ana mischief mas llas
man. AID they NeIe ANXIOUS 90 get ia
~ hm. lie Cl4lm, that le and Breed
old toi know tne amount ~ TIE M-
leotedneos uf tie cAp.e company al
that time. nor how much would
/ te lett from tue proceeds Of
Tie sale 81 bonds after paying
( Ile debt 81 the cattle company
/ to the construction company and tne
+ $50 600 Tie construction company
( had never matr any demand Of the
4 cable company. tul ln au informal cone
NersaUoa ineA were Informed tuataiier
/ paNiug tlt cable company debt there
/ would uot bs enough 40 pay the s,V.o
F n fail. They were assured that 40
( preference would he made n t4c pay
4 menis. bur that the construction com-
pany and the syndicate should shane
/ alike n the payments And Wey dee
/ C.ded that i MAS better for thc prese Al
! ID let tnc money bc used ln extending
{ and operating the lines Of the cable
railway. lie sad that the only lll feel
/ ing that Breed ever had against Bovine
WAS at one time when Bovine adjourned
a meeting, leaving part Of the business
! unfinished, and as Breed was Obliged
! 10 90 % Chicago that night he thought
/ Bovine WAS dlscOuTtcOus 90 hlm.
When he wrote the letters submitted
as evidence by I.bbets he supposed
! there would bc money enough from
1 the sale Ofihe bonds 70 pay the debts
and the $50, 900 and still leave q sur
/ plus.
The Joint affidavit OF Messrs. Blair
and Bovine sets forth that
10 their knowledge the con
struction company never made any
demand OF the cable company
for payment 10 them OF any part OF the
! proceeds of the bonds. Ia an informal
conversation they informed Crosby and
Breed that after paying the floating
debt of the cable company the proceeds
| of the bonds would not Toe sufficient 10
pay the construction company IN full,
! but that no discrimination would bc
made IN the payment of the debts.
/ The general opinion was that the
| money should be left IN the cable
company and 10 formal action was
taken.
The cOmplainant's attorney finished
| their argument and Willard Kingsley
made the argument for the dofensl
| which was in line with the facts sci
forth IN the foregoing atiidavits. lls
! claimed that Tlbbcts had been working
! hard To secure the state of affairs thai
now exists, but that because he wa
| forced out of the company he is angry
and brings tins snt 90 crafty MS spleen
against the others. The construction
company of which Tibbets owned bui
| Ouc-third of the stock, is practically
the owner of the cable company anl
the other members of the company at,
of the opinion that u is best TO leave
their money where 10 ls tO further tho
interests of the cable company. The
remainder of the cable stock is tn,
property Of the Grand Rapids syndi
cate and they agree 10 the same thing
The allegation of fraud D. cmphatCaIlN
denied. The argument is still pending