Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1893-05-11

Brown Ii ayes vs., Colchester Mills.
The direct examination OF The defendant,
Edwin IL Ripley, in the case Of Brodie vs.
Ripley, was concluded at 1920 O clock We'd
ncsday morning. Mr. Ripley said that the
stockholders Of the city had held a meeting or
two and bad instituted oyement by which
they hoped to rsorganizo tue Eckerson com
pany, and that about $40 600 had already
been subscribed and nearly all OF
the stockholders who had been ap-
proached had assented to the schsme.
Being questioned in relation to the statements
which he made to Mss Benham in inducing
her to buy the stock, he claimed that he
told her that If tho patent ou the newspaper
press was secured aud il the ioo presses sold
as fast as tney we're selling then, a dividend
OF ID per cont on the capital stock would he
paid in 1891, in his judgement. Hs also
said that ho told her that be believed in the
future OF the company and expected good
returns from his investment; that he OK
pre,sly stated TO her that il tho stock did
not serve her well, he would see that she
did not lose a cent; that he saw no reason
why small dividend could not he declared
April l from the earnings and that II. D.
company, said, in letter to him, that he
should recommend that dividend he de-
ciared at that time although it might he IL
small one; that during all this time he had
hela his original boding of 100 shares Of
the treasury stock for which he paid so
per share.
Tie cross-examinntion was conducted by
ex-Gov. Dillingham;.
To the lawyers inquiries lie testified, that
since going out Of tbs hardware business ho
had bean engaged In making investments in
real estate, - the Eckerson Printing com
paEy, the Vermont Investment company,
the Muncie, Ind, Street rail way, the Bing
hamton Trust company, the Bay State Shoe
Fastener company, and tho Onoontn Fer
ulzer company, and had dealt in tho stocks
OF the Eckerson, the Oneonta Fertilizer and
the Vermont Investment companies to a
more or less extent. having directed his e:
forts toward making these investments ad-
vaptagcous to him; that he did not know
at that time that ". II. Roberson, of whom
he learned OF the Eckerson company, was
memocr OF the firm Of Fnirchild Is Co,
who were succeeded by the Eckerson Print
ing Press company in March 1889: that IN
February. 1889, he agreed tQ make ii sub
scription to the stock of the company with
the understanding that he (Mr. Ripley
an a'HFo nHe"iDer u tne
company within year.
Nr, nipley stated tnat TIE T<Oo,OOo PAID to
r""cHlu 20 oy tne hcNerSon company
ferreseh'e" the drawings, patents ana pat
'ei 'uat ne uli ho' "ho" tuaI only 8
s'na" portloh ol Vae properly 'hus 500 coN'u
oe sean win 'hs eye llat ne Iirat inNe.u-
sa''u 'he nuanceS OF the company IN 'he
no1sr of L, Iao
summer o. looO aiter ne became secretary
'nHV 'eiOie 'ua. Ae hau 70 snaEes OF @ @Ius
s'ocA, costing nun over go uoo' that III ~
ana VI ne soId some OF the
hcAerSon STOCK 10 a I, u L. i.
hltlng, Mr. brodle, II. r. Nlo'
iey, y, q, NaheT' u D. hiicomb, +. w.
b""ard' Z, B. boy nton' e. w. Fisher, Dr.
Dr'ss'' 1u1a9 N'ou, L., r hnGIeSDy' - D.
cray, Mss Denham' u. A HAL I. Ii.
Lane ana olhers at prices ranging from
$40 to $50 share.
tie coaId not tell how many presses wore
made hat year, but said that orders for
nine Joo prs57es were received while he was
secrelary' mat the company owned no
plant that Iuo shares OF the treasury stock
sold as 10" as |p"5 snare 10 MT. liam
mona, superintendent or the Delaware and
nudson i-eHroal COMPANY, and IN the re
port OF january, 1871, S@S, OOU was among
the assets "hlch represented discounts on
safes OIL treasury STOCK tdat II did not oc-
cur 10 MIN TO state TINS when he was sailing
the STOCK: tnat he dld not know that the
cost OF tue company's entire property in
January, 1871, was less than $500
After Tue noon recess Mr.. Ripley said
that the last treasury stock was sold in the
early part o. lSJ0, AMI so far as he knew,
it was sold for 500 per share, with one e1-