New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-26
TO THE HON. TRUMAN SMITH.

New ork, May D, 1897
Dear Sir: Mr.. E. p. Cheney informs me that You
have consented to act arber between re and
Mr. Sias f. Chenev on whose behalf claim Is
set no against me by the former. / thank you
heartily for having done 3d. AS can get no tune
to appear before you prior 10 my departure on Mon
day for the West. allow me to make as clear
statement I can OF all the facts, which is all
propose to do In the business.
/. In 1855 Mr.. silas r. Cheney was owner OF one
share in The Tribune Association. by our rules
this gave him right to purchase any snare that
might be offered for sale In preference to any out
another owner OF single share. wanted 10 sell
two shares to Mr. Eben II. Fay. who had long been
one OF our writers. 1 offered them accordingly at
$500 Mr.. f. p. Cheney. on behalf OF his brother
s. f.. Cheney, proprietor Of one share aforesaid
notified me that ne would take one OF THE two shares
I offered No other owner OF n single share maxi
ing a like offer, l obliged to accept MI.
Cheney's
. When he came down to take said share he
was wholly unable TO make the payment Finally,
nv getting me TO lend him 500 (Which he duly
paiD and obtaining my Endorsement TO his own note
for 1000 at two years (Which he thereon got cis-
counted by farmer in Litchfeld). he was enaDieo
to make a sort Of payment. or course l refused
to transfer the share on this sort CT payment
nor did he wish me to do II. In urging me to my
reluctant Endorsement OF his note he assured me
that he would take Of 1t at maturity, and that
I should have no more trouble on his account
This was in May or June. 1885, allowed him 10
take the dividends (Which large) on this share
standing in my name on his assurance that my
liability for him nominal merely.
g. In June, 1857, he down TO get money
to nay for a tract OF land In Litchfeld which he
had lust bought for sllOO. Nothing would do but
that | should let him have $500 OF this money
told him Oh the verge OF terrible cris's'
that had money TO lend: that The tribune
needed all had. etc. but nothing wouid answer
. For q
gave me his note at sixty or ninety days; the other
400 he said would surely be met by dividend
of 500 per share to be declared In July. But July
came and we could only divide 800 per snare 'and
ought not TO have divided any. / called on MIN
for the baanSe but he could not e No e nee o he
not pay 1t till long afterwarii; Inc NV ho'e ''
l. Thus i stood when MS two years note ,,.r ior
in June 1863. I saw that he was going TO LEI ms
note 20 70 protest, or o, ro IN v hands did not
wish TO be further complicated with one 20 unable
more LIABLE 50 sGd snare o meet %. t"s this o
note | thereupon notified the holder that Mr. ,. ~
Cheney. the drawer had right 10 pay .iS b mote
could not be party to its renewal; I Inc nS,e
being in the Ichied County Bank y sea ssrey
check for SIPS principal interest and y 70 cover
contingenees and notified Nun shai r. no MI wanted
to pay 1t. and there was the money, Just AT AT
time at the ys s sr SS s 10 wn
protested note for $500 then lying on my hands for
months) and wanted me to indorse this 10 take
up his other Cs20OOl note, with. OF COURSE l didn't
do H. or course. he didn't pay the E,0oc; ana OF
course did And thereupon considered his claim
to the shares which he had purchased put not palu
for forfeited by his own act ana hoteu MN oh
he was ready to settle. He came down, but would
do nothing At first he insisted ne would
have the share: that he would somehow pay for IT,
/ told him he was standing In his own light; that
be could do better than take the share: that was
willing 10 pay him $500. which was at best his iuil
due 10 be square with him. and he could buy another
share one OF McE.ath's taken by L. 5. Lawrence
on account OF a loan for $500 and thus DO better
than TO take my share he wanted to. lie went
off on this. without settling. bought the McF.ratn
share for s. 200 partly credit. and drew on me IN
nv absence for the $500 | had offered to pay to be
even with him Mr. Sinclair (whom you can consult
il YOU choose) supposed this draft was drawn In
pursuance OF my offer to sete-that IL was an ac-
ceptnnce or notification of my offer-and paid the
money told him when returned that this was
wrong-that s f. Cheney. having got the money.
would not send the receipt He felt sure was
wrong and wrote at once for the receipt, but none
came and none has come to this day: Instead OF
II | have TO meet this claim for something. can
get no account from Them and am trying
to defend myself against claim Of money due
which | am not permitted 10 see here Is my
statement of the account