New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-17
THE SUIT AGAINST WALCOTT.
SOME INTERESTING TESIlMoN1 rhoDAoi-h
THE pRrs,nrxr OF TIE MONMOUTH PARK AS
ISOLATION WILL GO ON THE STAND
THIS WEEK.


THIS WEEK.
,,o .u,., -, ,,o sniff which Peter De Lacy 1as
brought against Edward F. Wacott to recover
ohout xoo oIo will go on in the Superior Court De-
fore Judge Ducro Tomorrow. Mr.. De Lacy advanced
80 600 To Walcot to enable him 10 push .nroush Ms
scheme TO build the Chicago Elevated f'airoan
under an agreement he says, that he shoulu receive
1 per cent of one-third Of the proits Oh the enter
prise and IS per cent Of the Slo'Vo
wa,co,t formed a syndicate in 1887 for the purpose
~ building the road. 1t roseate scheme.
Tho capjtal was to be s7.i99,5oo there was 10 DE
81 600 900 first mortgage bonds issued and the pro-
iectors would all make fortunes. Inc hrst 'hhs
10 be done was to get the Board OF Ader'he" Vi
Chicago TO pass an ordinance authorizing the con-
struction of the road The sshuicd'e put W. "'
for preliminary expenses
4 resolution containing a copy OF the Piopo.
ordinance was introduced at meeting OF the I'M
cago Board of Aldermen early In lSoS IL was re-
ferred TO the Corporation Counsel VINO 'epo''eu
adversely upon the scheme Nevertheless the Board
If Aldermen passed the ordinance substan'lah! az
ORIGINALLY drawn Mayor James A. Roche vetoed
the ordinance on March &C. 1883, but 1t was again
passed by the Board Of Aldermen over the Mayor
veto a few days later
Walcott testified before James d. van iIoreioeis,
n commissioner appointed by the court, on May ~
last Walcott being examined by r. J' Myers vi '''e
law firm Of Hahn Myers, as follows;
O-Under what circumstances did the syha iio,aS
get the charter or franchise TO 0Hu 'n Tbey FUR
nshed the money for the preliminary expenses
Q-And how much money did 'hey FURNISH 4"
Q~And these moneys We're expended to s get TINS TINS
S coses and various newspaper uses, and
Q.-Who did the S eXpehu'"s Vi '"e '"0"'' ~
The disbursng? did.
Thai &c WaIcott spent $685. "for legal purposes
and various newspaper uses" to get his charter
from the Board of Aldermen The expenditure oil
this large sum embarrassed the syndicate. Wacott
testified at another examination that ne received
the money these preliminary eNPe ms syndi
Gates capital The syndicate might not haTe ovei
dermen had not stipulated that It must deposit
500 900 with the City Treasurer as But qua, an',v
syndicate had expended al us money .tre was
pur rreat scrambling to get the sooo required
800 6oe was raised by July "a. 1855; The money had
to be paid on in s b% Was 'n not
Waicot and his associates we're IN DESPAIR. no, Mr.
De La se's in front sYoak hotel nSGg: bS
July A. and dragged him OF to WaiTT n Mr.
De Lacy According to Nj De LACY si6 M ab,rb
to pay him n SaG asS p Of cent 1s Of
Of the profits Of the scheme The road WAS Ggi ns
9r aSSnt the prcs Of the projectori several
million dollars Under the agreement wn9h zee
ay says sv MaSs maTs Sa W VAS large
the $4,000 invested but Wacott at att that anx yms Mr to
De Lacy says was Wilde W S'' "''''''7
satisfy the conditions OF the charter. 80. 1900,
De Lacy's $4,000 completed the slH", ne' Y,n
and the scheme went through Walcott had dIlii-
Guilty in floating the bonds OF the company 40 ne
organized the Rapid Transit and Bridge CohstruiC-
lion Company. with a capital Of 10000 under the
laws OF New-Jersey. by means OF which ne sue sue
ceeded in floating the bonds OF his chicago anu
South Side Rapid Transi. Company The pala-up
capital OF the Jersey corporation was s-o' out u
the S. 0o0 600 81, 81,
Now Mr.. De Lacy wants Walcott 70 pay MN mn ms
share OF the profits Walcott denies that ne prom
ised 10 paw De Lacy per cent OF one-thrd OF th
profits Walcott Will go on the stand IRIS Week. am
some interesting facts regarding his deai ny "hlch
ne got the, charter for his elevated railroah corn
pany from the Chicago Board OF Aldermen VIII
| probably be brought out