Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-10-20

moved, but that pending sucl
action they recognize the fact that w
are entitled to our discharge as trustee
and that at an early meeting OF the
company new trustee will be selected
In our place.
THREATEN THE LAW.
1--WE have notified them that new
trussee must be designated at once oil
we will file the necessary bill in equity
for that purpose, and that meanwhile
no other bonds shall be issued covered
by the mortgages in question. We are
| informed that counsel for the company
| from New York is now engaged in re-
examining the title in West Virginia,
and we have been asked TO wait fur
Their proceedings pending his report
upon the title.
There is no liability on the part
Of the trustees to the bCndholders 6e-
yond the amount OF the interest
for the first two years, which
has already been deposited
with the trustees"
DIFFER WITH THE COMMONWEALTH.
In regard to this statement, however,
there seems TO DO difference Of opinion
on the part Of some OF the New York
holders Of these bonds. 1t is under
stood that President Degraff, OF the
Bowery Bank, Of this city, and Rice
Brothers, OF Providence, r. l., through
their attorneys have stated that they
will holdif possible, the Commonwealth
Company liable for its bonds, as II was
upon their statement that they had ex-
amined the title to the property Of the
Standard Coal and Timber Company and
found 1t to be all right, that they took
the bond.
The letters indorsing Cokefair to the
Trust Company were from President
Fox, OF the Columbia Bank, corner of
Forty. street and Sixth avenue,
this city, and from the President Of the
First National Bank Of Plainield, n. j.
Both OF these institutions are holders OF
Standard Compan's bonds as collateral
for loans.
AIMING AT THE STATE TRUST COMPANY.
Secretary Stull, after he had made
the above statement, told The World re-
porter that he did not think any large
amount Of the bonds had been placed
with Philadelphia banks, but that some
PhilRdel phians had taken the bonds as
an investment. One well-known Phila-
delphi lady, only a few weeks ago,
wished to invest $40, 900 in the bonds,
but refused to do so when she found
that the Commonwealth Company would
not guarantee the interest for more
than two years.
When asked what be thought the
Standard Company intended to
do regarding a change of
trusteeship he SAID that
when he last talked with Mr.. Cokefair
that gentleman told him that arrange.
ments were on foot and about completed
to have the State Trust Company of
New York City act as trustee. Mr..
CokefHir then asked that the Common
wealth Company retain It's trusteeship
until everything was completed for its
transfer 10 the State Trust Company
In New York.
WITHOUT THE TRUSTS KNOWLEDGE.
Strange to say the officers OF the
State Trust Company are still in blissful
ignorance OF any such charge being put
Ia their hands. Vice President Adams,
of the State Trust Company, when
visited yesterday, stated, in answer TO
several questions: ave do not know
about the Standard Coal and
Timber Company nor the Scotch Coal |
Iron and Railroad Company, nor Mr.. c. |
C. Cokefair. nor MIR. Benjamin Frank
lin Howlaud, nor anybody else connect
ed with either OF the concerns You |
PRs'}uu thpye ,pyeTAr,, s9aF,. 1IJSSs,Nd liza |
approached US on the subject 6i'becom-
ing trustee OF any such company.
Furthermore, we would not take the
OF any company brought to
rs until we had thoroughly Investigated
its holdings, and, il ii was a case OF
transfer, as you say this is reported 10
be, we most certainly should inquire
Of the former trustees their reasons for
severing their connection with the mort
gagor."
But to return to Philadelphia.
COL. JAEGER is WELL INFORMED.
Another person the World reporter
saw in Philadelphia one who owns some
$4,000 acres of land in the 32O,OOO acre
tract claimed by the Standard Company,
was Col. William G. w. Jaeger, q well
known capitalist and owner OF large
tracts OF coal lands in West Virginia
and other Southern States. Col. Jaeger
returned only asst week from trip all
over the 800, 900 acre tsact, and from
his several suits in the courts In NC
Dowell and adjacent counties down
there TO perfect the titles 70 his various
holdings, he had learned by heart the
whole history of all the land transac-
tions that have taken place in that
State for the past twenty-five years,
and has them at his fingers ends.
HOW THE SCHEME WAS MATCHED.
81 remember" said Col. Ieager, "when
that scheme was Matched. A man
named Jesse Irwin, who lives at WEIGH,
w. Va, but who has passed considera-
bic time in New York and other cities
around here, claimed tract OF land
embracing $50, 600 acres in the Robert
Morris grant. He had no title to this
land. Harris Hoyt, Of New York, was
a partner Of Irwin 10 this claim.
"a plan FOR bringing out rake
deed was concocted. 4 Mrs Smith,
also Of New York, was mixed up In the
scheme. Papers giving all the details
and names of all the parties connected
are on file in the court house In Welch.
Back in 1875 these people met 10
saloon on the southeast corner Of Dey
and Church streets, New York, and
made the deed. A man from Brooklyn,
whose name l forget-it is In the papers
which stated we're on file at WEIGH
was hired to pose as Henry L. Morris.
He was paid 81 for what be did.
"a deed for 80, 1000 acres was made
out from Michael Bowler TO this pseu-
do Henry L. Morris, who then signed a