New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-03-02
A BIG SUIT DISCONTINUED.
THE ACTION AGAINST JOHN II. ESlAN
ENDED.
RETICENCE on BOTH sIDEs-rHE TENNESSEE
COAL. IRON AND RAILROAD COMPANY
wITHDRAwS ITS COMPLAINr-wAS
EX-SENATOR pLATT NOT IN.

stipulation for the dscontinuance of the suit
of the Tennessee Coal and Iron Company against
John II. Lnman filed yesterday in the United
States Circuit Court The suit is to be dis.
continued without costs to either party. Tlie
stipulation is signed by Tracy mcfarland, Board.
man, Wins II Platt for the Tennessee company.
and by John 4. Parsons for Mr.. Inman.
The suit was begun to recover about 100000
for acts performed by Mr.. Inman while director
of the Tennessee company which it was said
had injured the company. The purchase of the
Pratt Company stock by Mr.. Inman and others
and its transfer to the Tennessee company at q
much higher price than that which Mr. Inmau
paid formed the basis for the principal demand IN
the suit.
friend of both Mr.. Inman and President Platt
said IL should say that the discOnrinuance OF
the suit proved that Mr.. Inman had recently
acquired an interest in the company. think ]
have heard within a few days that Mr. lnman was
buying the stock, and infer that the settlement
of the suit may have followed this buying. Presl'
dent Platt is not interested in the matter, and can
say truly that the settlement has been made with.
out his knowledge or consent. 1t was NOT his
fight anyway, and neither he nor his friends nave
been disturbed by the decline in the stock.
| know however. that Mr.. Inman was not dis.
turbed by the suit, which, he told me- was based
Tennessee and the South may have lost few
dollars, but Mr.. Inman probably has a larger
interest in the property to-day than ever before.
There may have been a settlement OF the sulo
under cover of the recent fluctuations.
Last evening John Ii. 1nman gave out 1oE
publication the following as the agreement Oh
settlement:
In the Circuit Court Of the United States for the South
ern District Of NewYorh. The Tennessee Coal Iron an(
Railroad Company versus John II. Inman
Since beginning OF this action tho complainancs
having made thorough investigation OF the transactions
involved and having satisfied themselves that tnforas
tlon Vh
accurate and that there is liability by reason OF the
stated in the complaint the part OF the DEFEND.
and his associates and hereupon having been agreee
between the parties that the companants Dill shouo %
dismissed without either party against the otheEs
upon the conditions hereinafter named
1t Is hereby between the companants and the
defendants without costs TO either party as against
the other bill complaint be dismissed that order
effect be entered, and that this Is In full With
drawal Of any claim the part Of the complanants BY
matters in the bill OF complaint alleged, the
being that further suit shall be brought
but that the herein made terminates and sot
ties all questions, and Is final
Mr.. Inman said L did not intend to make
anything public about this settlement, but ae
long as it is on the court records there is need
for silence on my part. The matter is simple
one. / am convinced that the gentlemen who be.
oan this suit were mistaken or mlslnformed, and
when they found it out, In a most manly fashion
they have withdrawn it, had little doubt about
the result of the suit, and was satisfied that when
further investigation was made the suit would DO
n.
In response to inquiries, Mr.. Inman added:
There is nothing in connection with the settle
ment that know of in the way of change Of owns
ershp or in the constitution of the board OF direo-
tors | bought 1000 or 5000 shares OF Iennes-
see stock on Monday, simply because thought u
was cheap. The purchase had nothing to do with
this settlement. The property is q good one, ana
il ought TO have more value when litigation s
ended. Unless there is good ground Tor ltiga-
ton a property is better off when 1T Is free from
such entanglements." 90
Mr. Inman declared that there was no slgnlli-
cancc in the absence Of Mr.. Platts name from tho
agreement of settlement, so far as he knew. Ihe
subject had been broached 10 Mr.. lnman only
within day or two, and his lawyer, Mp. Parsons
had conducted the adjustment for him.
Mr. Platt who is the president OF the tennessee
Company, declined yesterday TO make any state.
ment regarding the settlement: ite lives IN the
Fifth Avenue Hotel, where w. NJ Duncan. tho
but the two gentlemen. 1t is believed had no com-
muncation last evening on the subject Ima
fact was commented upon decidedly slSnlncano
By those persons who interested themselves In
the affair 1t was also regarded as significant
that Mr. Patt did not sign the stipulation Tor
name was lacking, but he says that majority
of the committee TO whom had been intrusted tho
prosecution of the suit signed the agreement OF
settlement According to Mr.. 1nman, the commit:
tee consisted of three persons-Mr. Platr Judgo
Bond and Sperrcll Hill The two last-named as.
sented 70 the settlement, bnt apparently without
consulting with President Platt There has been
no meeting of the board of directors of the Ten.
nessce Company 10 approve the settlement, puv
Mr. Inmap maintains that the committee OF thred
has power to abandon well as TO prosecute the
suit II is expected that there VIII be some de.
velopments of interest before the lnman adJusW
ment can be accepted as final