Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1891-09-01
A VERBAL SETTLEMENT.
The Knowles Liti Cation likely to be
Brought to an End-Wnat the Heirs

The knowles Liti Cation likely to be
Brought to an End-wnat the Heirs
Receive.
A verbal agreement as sett emen Of
the Knowles or Moline Y. NJ. G A. case
was reached some Il, since tough there
has vet heca 10 final ratification. The
Dispatch says theie is movement to cut
off further litigation and settle with the
DR.. Knowles heirs for $4,000 To this
IS. 600 the defendants must add an ex-
pense of 50 0O0 for attorneys fees thus
far ineurred-making a total expense to
them of Sl1. OOo
The Dispatch, with further reference
to the case. SAYS:
This expense is divided b tween the
party defendants by agreement, into
sixty.fouIths. Rev. q. l.. Morgan agrees
to pay 80 sixty>fourths. or ose>half of the
total. The Small family will pay eight
sixty fourths, or e-eigbth; the Y. NJ
c. A. also pays eight tixty-fourths: the
Illinois Home Missionary society, of Chi
cago, SIX sixty fourths; the Port Byron
academy. six sixty-fourths; c. Il. Deere,
two sixty four,hs; the Chicago TEeolog>
zeal seminary, one sixty fourth, and C.
II. LVnl, of Portland. Me, one sixty>
fourth.
All these parties named except G H.
Deere were bensfciaries of the late Mrs
A. N. r. 5. kaowles. Mr. Desre got
mixed up IN the case by aecsnmo datiRg
the Y. N. c. a trading tie association
- IL, ~ -; -.
the lot nov vacant, east of the Y. NJ c.
A. buiiding. He gave lot with a ssed
title, and got one with clouded title In
return. This is the way in which he
comes in for paying two sixty-fovrths of
the eest OF settlement
The Rev. c. L. Morgan has proven
himself bepefsstor to all concerned in
this affair. The henSsse to Mr.. Norgsa.
mainly consisting of the Mrs. Knowles
residence on Fifth avenue, was of such
character ,Elt-- ! -. So 5,>l pros
eRted to a elose-his title wsuld have re-
mained intact, and be would have been in
no way liable. The lawyers are praeii>
cslly agreed that Mrs. Knowles had full
power TO do as she pleased with the resi-
dence, aud that the provisions of her hIs-
bands will could in no way invalidate the
title to it which she gave TO Mr.. Morgan.
Thus it will be seen that the share of
the settlement price which Mr.. Morgan
has agreed te pay, is nothing less than
gift to His co,deterdants in the case Il
is splendid gift, too. one-half the whole
expense. or $500. How is the Moline
Y. NJ. c. A. coming cut of this Atari
That is question OF CREST interest 10 its
officers ana members. 1t is coming out
OF it with the property on its hsnds-and
also with big debt.
or this debt SIC. Geo is bonded; s. 900
is in the shape of mechanics liens; 81
900 of floating debt ia outstanding. and
now some hing like s 915 must be ad-
ded 10 effect TINS settlement. luis
makes a total of about S20.315 OF
course the,property is worth much mere
than this-the building itself csst aver
$50, 900, We believe, and the lot is worth
Sc 600 to SIS 600. making an investment
Of atou. $40. 1850. Iet IL PROMISES 10 be
vexed conundrum just now to pay OFF
this $20315 1t would be a blessing to
the association if it could sell the present
property for $4,000 or $4,000 more than
its debt, and then make snslher start
with q smaller and possibly more salt
able building for its work in some other
location. The present association build
ing is good business property; it weuld
be better with alterations. Possibly some
individual. or a stock company, might be
able to handle it to advantage, by better
adapting the nam aoer to nershsatile
purposes, and changing the stage in the
present hall SO that the splendid auditor
iun could be of larger use rs an opera
house.
Messrs. W. J, Entrikin, l. o. Wilkia,
son and Charles Durham, the attorneys
for the defense, have worked arduously
in this case. and can doubtless eongratu-
late themselves on reaching this agree.
ment for q settlement, which is believed
to be much better for the majority of
their clients than could otherwise bave
been expected.