Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1893-12-15

possession OF only 400 shares. The six
teen shares in question were relinquished
by the defendant as suggested. Shortly
after this REIMBURSEMENT the plaintiff
told the defendant that he had had a big
offer for his stock from the Fairchild in.
terest. and the result Of the interview
was that Mr.. Fisher gave Mr.. Gage
$1,000 in cash for his ten shares Of stock,
and the note in question. on which he
has already paid $1,000. Thus Mr..
Gage has received $1,000 in cash for the
stock which Mr.. Fisher AYERS is intrinsi.
cally worth $500. The defendant there
fore puts in a counter claim and wants
the contract rescinded and the note and
money returned and he will return the
ten shares Of stock to Nj. Gage.
After various amendments and stipu-
lations were made, q jury was waived
and the parties started in with their
legal battle.
The execution Of the note being sued
upon, having been admitted in the
answer, the plaintiff had no evidence to
offer and the defense proceeded with its
case.
Nh. Fisher was the first witness. He
described in detail the efforts he began
to make IN the early part of 1892 to Sc
cure control of the First National bank;
how he talked with Mr.. Gage frequently
about the bank and the manner in which
it's affairs were being run; how they
together commiserated with each other,
each being in the minority. MI. Gage
had felt bad over the way he was
bounced from the directorate in 1883. In
March. April. May and October, 1892,
the witness bought up a good deal OF
stock-enough to give him, with the 154
shares that he already owned, 4S9 shares.
Sixteen shares we're owned by Mr.. Shaw,
of st. Paul, and MI. Fisher had a proxy
authorizing him to vote the Shaw stock,
the owner of that stock being opposed
to the Fairchild management. Some
time during the fall of 1892, after Mr..
Fisher returned from his vacation, he
had a talk with Nh. Gage, and Mr.. Gage
said that there was some wonder as to
who had been buying up stock in the
bank. Then for the first time, Mr..
Fisher showed Mr.. Gage q list of the
holdings of stock, and this list showed
that MI. Fisher was the owner of 489
shares, and had the voting of the sixteen
shares of the Shaw stock giving Mr..
Fisher sos shares. In this computation,
leaving the Fairchi]d people with 495
shares, Mr.. Gage found himself with the
minority. About this time it transpired
that Mr.. l. P. Baker had been interest
ing himself in the matter, and had writ.
ten TO MIR. Shaw concerning his stock.
Mr.. Shaw sent Mr.. Bakers letters to Mr..
Fisher as fast as they came. Mr.. Fisher
informed Mr.. Gage concerning Mr..
Bakers interest in the matter, and on
one occasion, in October OF November,
Mr.. Gage suggested that Mr.. Fisher
should urge Mr.. Shaw to sell his stock
to the Fairchild contingent, If they
wanted to buy it. Mr.. Fisher replied
that he did not think he could afford to
do that; that that would simply leave
him with a minority of the stock; that he
had invested a large amount of money in
the stock, and he would be liable to find
himself in a hole il the Shaw stock we're
allowed to slip out of his hands. Mr..
Gage replied that he (Gage) would stay
by him; that he did not like to have his
ten shares figure as part of a minority;
that he wanted to be in with the powers
that be; that they two had for years
talked about the management under
Fairchild as being incompetent, and
they together should 90 in and rehabili.
tate the concern. It was then talked
over, and had been before, that Mr. Gage
was to have a position in the bank; in
fact MI. Fisher had tried to get him a
J position there, at his Cage request while
the Fairchild management was in power.
In the course Of the conversation that
took placein which Mr.. Gage Il ggested
that the Fairchild people should buy the
Shaw stock, Mr.. Fisher said to Gage:
"That would not do; they would run
after you to get your stock, and you
would be tempted and would FALL" OF
words to that effect, but Gage promised
solemnly that nothing of the sort would
occur, and that under no consider alton
would he allow his stock to be sold to-
or voted by, the enemy. So acting under
the suggestion Of MI. Gage, Mr.. Fisher
wrote to Mr.. Shaw suggesting that he
should let his stock go if he could make
an advantageous deal. Later MI. Shaw
sold his stock to Mr.. Baker for par
sl,6W for the sixteen shares. The wit.
ness testified that while negotiations
we're going in the fall Of 1892, Mr.. Gage
told him Of an interview had. with Mr.
Gage in the Office of the latter. Mr.
Fairchild walked into the office and
asked MI. Gage If he had any objection
IN tho dOOr hainO lOcka1 Thoro ho;po