The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-10-02
FOR A MESS or PORTAGE.
William 7. CARAT Jr. as
the Modern Esau.
Prospect ct Lively Lawsuit Among the
Heirs Of the Late Millionaire
Brassfounder.

Ihere IS prospect of family row OF
some magnitude among the heirs of w. T.
CARAT.
William t. CARAT, the brassfounder,
leit an estate valued at $2,O00.O00. The
Duik OF the property was left to the widow
and children.
Inc foundry and the lot on which it stood
on Fremont and Natoma streets, worth
oo5o,o and the land and buildings at 513
ana olo Market street, valued at $3.50, GOO,
ne ieis the former in equal shares to his
brother, Ben iamin F. CARAT. and his sons,
William L. and Milton CARAT, whom he
described as composing the firm of William
l. Uarfatt q Co., and the latter property to
the sons.
william L. CARAT. the elder, died in JAN
uary' 1879. and five years before bis death
ne caused his business to be incorporated.
Win nominal capital of $780, GOO, in 5000
Norton, William A. Allen. A. J.. Taylor
ana LOUIS ID. Sharp as directors. and made a
tease OF the property to the corporation.
but IL IS doubtful whether the lease was not
virtually abandoned.
evidently however, the corporation did
not so THINK. for week after w. T. Gar
rats death Directors Morton, Sharp and
iayior. with the widow. resurrected the
lease, issued stock and discharged many
employees of the foundry
among the employees SO discharged was
William L. CARAT, the son, who was lust
married. He says that he became despon-
Dent under the circumstances and took to
excessive drinking, so that up to June,
1871, from the date of the discharge. Octo-
Der e. 1896, he was unable to act with
reason or take care of his property. He
therefore appointed Henry ID. Morton his
MANAGE tn
his rents.
10 add to his troubles, he says his wife
threatened him with proceedings for
divorce, and that Morton advised him that
IL ne didn't take precautions she would
bankrupt him. He was recommended to
realize and clear out of the country for
awhile.
90 Garratt says Morton, as he thought in
goOu iaith. offered to give him $4,000 in
casn and $4,000 in notes and to hold his
properly Tor him until the repayment Of the
money.
The offer was accepted, and CARAT SAYS
that on April TO- 1891, he conveyed to Nor
ton MS third interest in the foundry prop
efty and his half-interest in the Market
street property, worth in all $4,000.
receiving In return only $4,000 in
cash, four notes each for $4,000, at one
year and six months, two years and six
months, and four years and six months, and
NTH note for $4,000 at five years and six
months, the notes being signed by Morton
and his father
Garratt says the conveyances were only
IN the way OF mortgages for the sums OBJ
tanned, but that shortly afterward Morton
mortgaged the half-interest in the Market
street property to the Hibernia Bank for
$4,000 and has been drawing an income of
ABOUT $500 month from the property. be-
ilevlns the conveyance was absolute.
In the meantime CARAT had become
reconciIed to his wife aud had recovered his
health In European travel
Now, on bis returning, he has seud Henry
ID. Morton to have the conveyances set aside
and TO have the property reconveyed to him
on the repayment OF the amounts, which he
claims were simply advanced To him on
their security.