The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-02-02
MR.. CHAMBERLAIN EXPLAINS.
His Real Estate Deals i'm Texas
Charges of Fraud Denied.

NEW YORK. Feb. Humphrey p.
Chamberlain, who was arrested yesterday
on a Supreme Court warrant charging him
with fraud in obtaining S,175 from Joseph
L. Paisley, OF this city, for one hundred
shares OF stock OF the Fort Worth Park
Place Land Company, made the following
statement this afternoon:
THE allegations of fraud and deceit are
absolutely untrue and not founded on the
spring of 1850 Sers pSe chamberlain % investmene @
Company, in connection with Hon Robert
Mozart William copps and Henry B; T9l-
tional n BANK s acfes Of e and f in % the sub &
S4o.sc. of which sis. .ssosS So WAS was cash and the
balance in five years. $34,590 annually. For
purely local reasons the title was taken by
gave the notes TO Mr., Van Zandt, he hav-
ing a prejudice, we are told, against ac-
cepting corporation notes. No mention
Of a corporation was made for them at
"A company was Incorporated under Col
property. / believe the directors were Mr..
McCart, II. w. Gallant and T. 3. Bail
Tldgs' = or Fort worth; IL y; Gham6griain;
L. B. Gibson, of Denver. II was decided
TO issue the entire capital stock, five thou
JeeL TO the mortgage, which was done.
Later the shares We're issued TO the parties
IN interest IN purchase follows. ChaTn-
beriain Investment Company, 2lSS shares
II. w. Gallant. 312 shares for Messrs. Nc
Cart and Copps: $500 shares were placed
in the hands of II. w. Gallant, trustee for
the time being, as they were negotiating to
sell q part of the land TO the city. At the
time deed was given 10 the company for
4Ss acres and declaration OF trust showing
IT TO be held in trust for the Fort Worth
Park Place Land Company until il was
thought ..9 wise to put the deed on record.
THE company was advised of the sale of
forty acres of the land TO the city for
park, but some. complications arose which
nnally prevented the consummation of the
the verbal Information we had received TO
some extent. The land was not salabIe,
as we expected. and interest became due.
Mr.. Van Zandt forebore foreclosure and the
company still continued the possession and
Whine V Was T IN FeiS Fort WSrR in july last
had consultation. with Mr.. McCart looking
each of the shareholders to whom shares
had been sold $4,000 in alb the proportion
or land their purchase would bear to the
whole subject TO a prorate incumbrance in
case Of foreclosure. This would give for
each 5000 invested about ten acres, sub
each shareholder holding his land in Sc
Gurity; This proposal was accepted by Mr..
Van Zandt
During my absence last month i'm Eng
land the parties in interest at Fort Worth
completed such an arrangement with Mr..
Van Zandt that the land was decided back
TO him, three years interest being In ar
rears, ana the shareholders are now con-
sidering the proposal to receive each his
own proportion of the land and the incunl-
brance of which he had notice when he
bought the stock There has been no time
when the Park Place Land Company did
not have possession and title TO this land
under the deed of trust, when the rights
of any shareholder were imperiled for an
instant. have never promised advance in
value, but have told my honest belief
which is very different from the surety
claim. The advance in value from it's cost
about 500 per acre, TO the price at which
the shares were Sold $780, came far from
putting through the entire length of the
land electric railway, building Rotor
works and other improvements costing al
together about $5,O00O00''