Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1893-05-04

In that he did not represent to Mr.. Brodie
that the company had patent on the news
paper press, but told him whnt the inventor
Eckersou was at work on and hoped to pro
duce in that direction; that he did not tell
him the company had earned surplus with
which to pay q dividend, but he did tell him
If the company could manufacture and sell
a certain number of presses in accordance
with figures which he and Mr.. Brodie made
be should expect the company could pay
dividend of ak or eight per cant in Janu-
airy, and a still higher dividend il the COM
panys hopes in respect to the newspaper
press were realized; that be did not
represent 10 Mr.. Brodie that the job
presses were selling faster than they
could be manufactured, but did
say that they were being sold faster than
the factory at Cohoes, N y, could man
ufacture Them that no different represent
ations were made with regard to the sale Of
the 10 shares ia September; that he did not
tell Mr. Brodie that he paid $40 per share
for the stock, he sold him. Mr. Brodie
stated that be bad been told that he could
get the stock of one G. w. Lewis for SO
per share, and had told witness that he
would take 10 shares If lie could get it at
so per share; that he saw Mr.. Lewis
and was unable to procure 10 shares
at So but was offered au entire
block of rs shares at $50 il lie would take
the whole; that he accordingly took the %
shares aud let Mr.. Brodle have 10 shares
at the prics the latter had named,
$40 per share; that he did not
know that the interference between the
Eckerson and Cox presses had been declared
in the patent office until the fall of 1891 and
he learned of the unfavorable decision OF
the commissioner Of patents in August,
1892; that until the unlavorable decision oil
the commissioner of patents he and the
officers OF the company had expected thai
Eckerson would prevail in the contention in
the patent office; that during the negotia
| tlons with Mr.. Brodie the latter haC
| broeched the question Of having his son,
recent graduate Of the University, connect
ed with the company, and in the fall Of
| 1891 be had an interview with MIR. Brodi
in which the matter of Mr.. Brodes be
coming director OF the company was talk
ed Of, providing the company decided t
locate in this city; that tue last Of Mr..
Brodie's notes had been paid in July pre-
vous to this time.
Mr.. Ripley testified with reference to thu
sale to L. S. Whitsemb OF Richmond II
June, 1890; that his representations ree
tive to the prospects of the company wer
substantially those made to MIR. Brode q
above summarizsd; that all he said to ar,
purchaser of the stock regarding its havinl
sold al $50 said with reference TO thu
sale made to the Writings; that in all hi
trades he expressed the hope the compan
would get out newspaper pres
aud that was the extent OF his mis-
representations ia that regard; tina
during the whole period covered by hi
sales and the prospects Of the company wer
bright and the outlook encouraging; tina
the job presses were in operation in variou
printing houses, among them the Office of til
Now York World aud was being used wit
satisfaction.
recess was then taken.