The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1890-10-08
THOSE RAILROAD BONDS
Prominent Democrats Come to His
Defense-A Protest Against I'M
fair Assaults.

terday's Free Press was prepared several
days ago, IL having become known that
such a move was contemplated by the
Democratic organ:
The undersigned have been advised that II
Is contemplated by certain newspapers and
politicians 20 attack Hon. James u. Turner.
claiming that certain suit In chancerY, Ia
which tho Chicago * Grand Trunk hallway
20. was party, has been decided b. the
supreme court upon grounds that reflect
upon MIR. turner's integrity. Having been
connected with the case as counsel. In ia.
several stages, we submit the following
statement In Justice 10 Mr.. Turner:
II Is OF course impracticablo 10 discuss sat
isfactorily case involving large amount
of testimony in brief statement, nor is thgt
necessary 10 Mr.. Turner's viudication. Bat
enough can be conveniently set forth herein
70 enable the general puDllc % understand
the case and 10 perceive that any att .inpted
use OF IL 10 preiudics Mr.. Turner would be a
great Injustice 20 him and an outrage upon
fair political discussion.
In 1873 Mr.. Turner was the owner OF GER
tain bonds OF the Chicago Northeastern
Railroad Co.. OF which he was one of tho
original promoters and incorporators lie
became its president and superintendent,
aided In the construction OF the road from
Lansing to Flint, invested largely In It's
STOCK aud bonds, owning large majority
thereof. and for long period had the gen
oral management and control OF the affairs
or the company and its railroad. In Janu-
airy, 1873. Mr.. Turner sold outright 10 Will
liam III. Vanderbilt 100 of the bonds OF the
company, with large amount of the stock,
and also gave 10 Vanderbilt a privilege OF
purchasing 300 more OF the bonds of
the company up to. January, -, 1879.
remained the owner. On April &, 1873. Mr..
Turner sold absolutely TO Russell Sage these
2oO bonds, subject 20 Vanderbilt's privilege
10 buy them before January, 1879.
Upon these bonds, coupons for interest
were due March, 1873 These coupons were
all cut OF when the bonds were sold 20 Sage.
On haroh 30, .o's Mr. Turner. had cut the
coupons from these bonds, and transferred
them as gilt TO Mrs. Turner. As he was
tho owner of them at the time, his right 10
do so was clear.
Subsequently. In January. 1879. Vanderbilt
exercised his privilege under his contract
with Turner AID purchased these 25O bonds
OF sage Vanderbilt then being the owner
OF l,&oJ, all the bonds of the company ISL
ZoO,OOO), sold l.lOO Of them (Sl,l0o.UO0) 20
Joseph Hickson, who afterward sold them
20 the Chicago Grand Trunk Railway Co,
dickson having purchased the bonds OF
Vanderbilt In the interest Of this company.
Up 10 this point the facts are undisputed,
and al OF them are found as facts by tho de-
cision OF the supreme court.
In February, lse5. Mrs. Turner. the owner
OF the interest coupons above mentioned,
having been unable TO obtain payment there
OF, 10 which she was entitled, began a suit
for them against tho Chicago q Grand Trunk
hallway Co., In the lngham circuit court.
The relations between Mr. Turner and the
company. formerly friendly, had become
strained. Thereupon the company began a
suit in ohancery, In the same circuit, 90 en-
join Mrs. Turner's suit at law, ana this chan
cerY suit, appealed 70 and decided by the
supreme court, Is the one In which the deci-
sion in question was made.
The claim OF the company was that the $50
bones had been pledged by Turner to Sage,
as collateral security, and that while thus
held by sage, Turner sold them 20 Wander
bilt, and that the interest coupons given TO
Mrs. Turner were LETT with sage by mistake,
and not delivered 20 Vanderbilt, and that
Turner atterward conceived the idea Of col
lecting them.
Upon this, which, II supported by evidence
might involve MIR. Turner's integrity, the
case utterly broke down. Sages testimony
was emphatic that these bonds were never
pledged TO him, blH sold % him dbS0liHelu
Aprl 4 1873; that The coupons o. MGTcf.
1875 icere not attached; That he (Sdgs) did
not bay or recetue ne coupons Ind me de-
cisiOn Of the supreme court dndS that these
bonds lucre not pledged bat SOLD tn Sage April
4, 1875; that ia March, 1878, l0hlie Turner
Uds The Qufler or tie coupons, he eiH them
%, rs he had the right To do. and he had the
right, after cutting them on. 10 sell or give
them TO Mrs. Turner or any one else, as be
pleased.
The chancery case went TO hearing in
the Iugham circuit, upon a large amount OF
testimony, aud was decided By Judge Eras-
tus Peck, upon full consideration, in favor
OF Mr. Turner. Ihereupon the company
appealed.
1t is true that upon The hearing In tho
supreme court the decision II the court be-
low was reversed and Mrs. Turner's suit
upon the coupons was perpetually enjoined.
1t Is also true that IL is not our pur-
pose 10 enter into a discussion Of tho
merits OF that decision. That would be in
consistent with our respect for the supreme
court. and Of the relations Of counsel 10 it,
even when they are disappointed 10 its de-
cisions.
But il is open 70 us TO say, with propnety,
that an analysis Of the decision shows that
the grounds upon which the court place their
Judgment do not justify, but repel any
charge Of fraud upon Mr.. Turner. Their
grounds, were Ia substance; o. That when
Mr.. Turner cut OF the coupons he intended
TO cancel them. Upon this question. on tho
whole evidence, while fair-minded men
might conclude one way or the other, we
| think the evidence ShoVed clearly that Mr..
| Turner did not inteud to cancel them, but
whether he did or not the court find that he
| did not cancel them, but gave them 20 Mrs.
| Turner, as he hada right to do. The sup
| posed cancellation OF the coupons is the prin-
| cipal ground OF the courts decision, and is
their view OF TIE evidence. But their
| conclusion neither fluids, nor implies, any
unfairness on Mr.. Turner'S part. 2) The
court partly place their decision on the
ground, that when Hickson bought all the
bonds from Vanderbilt, ne supposed he was
buying all the past due coupons, not paid
and cancelled. But Vanderbilt never bought
the $50 bonds, from which Mrs. Turner's cou-
! pons were cut, from Turner. Turner owned
them in March, 1873; be sold them TO Sage in
| April, 1878: the court finds, as Sage testifes
that the coupons had then been cut off: and
Vanderbilt, having purchased OF Sage, could
not suppose he bought what sage never had
TO sell; and although Vanderbilt died in 1885,
aud his testimony was lost, there is not a
word of evidence that In his life time he ever
made claim TO these coupons. That Hickson,
| when he bought the mass Of bonds, supposed
he was buying ali the coupons that were
ever on them, will hardly be considered by
| business men reflection on Mr.. Turner'S in
tegrity.
| preme court, as we think, di5regarded the
| weight OF testimony, II Is certain that their
conclusions must be unfairly strained 20 sup
| port any charge Of fraud against SIR Turner
Few regulations would be safe IT, In such a
! controversy, embracing large volume OF
| testimony, decision one way or the other
should be held 70 fix charge Of fraud upon
a business man, when the decision itself In
wolves no such conclusion. it was 10 be ex-
| pected that Mrs. Turner wound stand upon
i her legal rights against the corporation. In
! law suits al judges do not estimate evidence
alike. aud upon tbs weight Of evidence an O
| complicated controversy there can always DO
a fair difference OF opiDlon. The decision of
the supreme court In this case was the result
| of their view OF the evidence. upon points, as
| we have shown, which included no charge OF
| fraud To Mr.. Turner.
| Inc suit or MIS-. turner upon the coupons
was advised and begun by hessrs. Hunting
ton ana Henderson. Upon Judge Hunting
| tons decease, and the removal Of Judge
Henderson to Utah. Mr.. Dodge took charge
| Of the case. lie ana Mr.. Black represented
| Mrs. Turner in the circuit coart. and also
argued the case IN the supreme court. Mr.
| Wells was retained as counsel. In an appli-
| cation for n rehearing.
| IL so happens that all the counsel (as well
| as Judge Peck, who decided the case In Mrs
| Turner'S favor at circuit.J belong TO the