New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-19

ALLEGATIONS REGARDING THE STANDARD
COAL AND TIMBER COMPANY.


BEEN FoRGED-BANKs IN THIS CITY
WILL NOT LOSE IN ANY
CASE. 1T is SAID.
7, vos deveIoped yesterday that the Standard
Coal and Timber Company Of West Virginia had
had doubt cast upon the title to lands which II had
acquired in Mcdowell County. IN that state, and
steps are now being taken to discover the truth.
The company was chartered April p, 1872 with q
capital stock OF 100000 and authorized first
mortgage & per cent gold bonds to the amount Of
&, ooO 0OO Of which however. only $4,000 have been
issued The directors OF the company are Joseph
H. Swift, q boy-manufacturer al Long Island
CIV who supplies the Standard Oil Company with
It's cases for refined OIL his son. Frederick J.
Swift James s. Kendall well-known lumber ex'
norter AT No Is Whtehall-st: W. W. Garner and
e r. Cokefoir q we-known citizen Of Plain.
Ge,d n J. Joseph H. Swift is the president. HE
son is the secretary, and Mr. Cokefor s the as
sistant secretary and treasurer. Inc company
Claims to own 10000 acres OF coal land, 10000
acres of timber land and 10000 acres OF grazing
land In Mcdowell County. w. Va The
Commonwealth Title and Trust Company, or Phila.
delpha, was the trustee under the mortgage.
Last September the Commonwealth Company In.
formed the Standard Coal and Timber Company that
It could longer act as trustee. THIS ac'ich' II 10
said resulted from the discovery that In 1884 the
Circuit Court OF Mcdowell County had made an
order in SUIT, lnVONllg inc tIdcl VI th'"ci ia"o
claimed by the company, declaring one OF the
deeds in the claim of title be void. owing 10
afhdavits made that one Of the deeds OF con-
yeygnce was forged The notice or the common
wealth Company, the officers OF the Standard Coal
ard Timber Company say, was the nrst ILLUMINATION
that they had of any suspicion of irregularity IN
their title They produced documents from Payne
& Taylor lawyers in Pcrryvie, Mcdowell County,
w. Va, which appeared 70 furnish satisfactory
evidence OF the validity OF all the conyeyances OF
the property from the original grant by the Conn
An attempt was made yesterday to create the
impression that several banks OF this city mad
been stuck" with the bonds whose validity IS
now assailed. President Graves, OF the St Nlcl'
olas Bank. OF the banks said to be affected.
stated that the bank held tve OF the company
bonds among collateral on loan 1t the Natonai
Park Bank it stated that loan OF less than
$500 had been made with ten bonds taken as
part collateral. Both banks have other ample
security in case the bonds should prove to DC
three OF these bonds but OF the officers yester'
day said that they felt no anxiety over the eoas,
Bank explained that he had taken $4,000 bonds
in exchange for $3.50 IN cash and some inact I'VE
| commonwealth Company, which holds the re.
manning 2cco subject 70 his order Mr. DE Grsa t
20 him by the trustee that one OF the deeds 10 nc
property had been forged The LOVELY Ban ,n,sr.
ested believe that the company Is frauduien'' ana
an opinion is held by some persons ,nar ia NOT
| nsrfsct the Commonwealth Company may De h.to
/ responsible for certifying to the security VI '1s
bonds. nj, ...,,.or ,,,odo Ia tho nub.
i!shed charges 10y J9se2h a. Sw,t vres'T' u
New.Yosk. October Is 1894.
poncct,ng the article which appeared in one oil ue
ncr. rentlng upon the title the lands OF this CONF
many in We: Virginia We desire to STATE tot me uae
- ,his n,cncrty was carfrlly examined ami ,s'orany
n,ssed uuon by competent rGtao" anu e"ee"s
,.torucys we could employ In thu; state one OF 'ne''
"a y PAYNE was then clerk o. the County Court IN WHICH
.o lands M, located and later became lsepub an eaii
a.,a for State Tr, isurcr The lands were eafinN e"
,,,ucd and ,ayoraby reported upon Tor u by coIpes
o>nrs and our ownership has been recognized ana 'e'
God 10 by every Official OK prominence IN NeDo"et
countv We have hal any intmaton OF any ae'eSs
m az, ,i,e .xcen. from rumors which We nave ho'
a. We. been able verify, but should we Yam 'Pu
,urther examination that regularity exists IN RAINY,
,r he our duty pleasure 10 remedy Ne saiNV INV
,,roc,ors OF the company and ohes. anon! hem ''''
roul,on, cop,alist have invested largely IN tn COM
,y.s securities after careful examination by at'7h!s
mnoyed by them individually. lie orr any DORIS "'''
issued by the company the abstract OF tue ana OUT
r,ne,s relating property were all ,ubmr'i 10 w
! commonwealth Title Insurance ana Trust COMPANY "
ph,lad.lphis highly responsible nsttrton compass.
nrnciraly OF leading Philadelphia lawyers, VINO p'
,,,o,ah,y uon the AMI accent'c the trvs"shp -
any dc,ec. /, proved exist in the tte the sIe''
os,rs will be the parties directly interested ID inc SIAM.
ard Coal and Timber Company, who haNc ih>es'ea "
| money I'm tho property in all good faith
| STANDARD COAL AND TIMBER eo'
| JOSEPH II. SWIFT, Presiaen"