The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1894-03-02
LEGAL NOTICES.
STATE of Vermont. bennington County, IS.
y IN CHANCERY.
FANNIE @. STRONG,
THOM AS w. MAI oNEY,
VIII IAN u L u Il 2 nGAM

WILLIAM R. ALBERTS0N,
WHEREAS, Fannie G. Strong Of Manchester,
in the County of Bennington and State of Yer
mont, has filed in the office of the clerk Of the
Court of Chancery within and for the county of
Bennington aforesaid ner bill OF complaint
against Thomas W. Maloney Of Rutland, In the
county of Rutland ana State of Vermont, and Will
liam X. Albertson of Worcester, in the county of
Worcester and Commonwealth Of Massachusetts.
in substance complaining and setting forth in said
bill of complaint;
That during the year 1888 and prior thereto,
The Lyman Strong Company, corporation or
ganized under the laws of the State of Ohio, and
having its principal place of business in the city
OF Cleveland in said State, was engaged in the
business of buying, selling and working marble;
that 1t became necessary for said CORPORATION
from time to time to borrow money; that in the
year 1888 its credit was impaired and during that
ear or before IL applied to petitioner to assist it
by lending it her name and credit and petitioner
believing said corporation to be solvent con-
scented so to do and on the first day of September,
1888. at the special request of said corporation
solely for its benefit and without any consldera-
ton for doing she signed note of 81 .24l "A
payable to its order at The Union National Bank.
Cleveland Ohio, payable four months Hfter date
and delivered the same to said corporation. who
received and endorsed it, and as petitioner is in.
formed and believes, disposed of it to raise money
for its use or to purchase marble or pay its in
debtedness
That afterwards at the libe special request of
said corporation and solely for It's benefit, without
any consideration for so DONG, said petitioner
of said notes was given for 81. bill dated the
25th day of September 1888, payable four months
after date at the Union National Bank. Cleveland,
Ohio; the other note was given for 81 428 81 dated
the Oath day of October 1888 payable two months
after date at the Union National Bank. Cleveland,
Ohio; said notes at time Of their respective dates
petitioner delivered to said corporation who en-
dorsed the same as said petitioner is informed
and believes, and disposed thereof for its own
benefit. either in purchasing marble raising
money for its business or paying Its indebted
ness.
And petitioner therein SAYS that she signed said
notes wholly as an accommodation to said cor
poratiOn, being in no wise indebted TO it. but it
was indebted to said petitioner; that she did not
know the legal effects of her acts, and that they
implied an Indebtedness on her part, but say that
when she signed them said corporation assured
her she would never be called upon to pay thel.
aud promised her it would paw and take care of
them when due: and that sad petitioner relied
upon its assurances and promises.
hut petitioner further says she now believes
that sad corporal on procured her to sign said
notes instead of signinI them itself and procured
her 20 endorse them that 1t might improve its
credit and more readily use and dispose of them,
And petitioner further states that afterwards
and before the 18th day Of February 1889, said
three notes came into the hands and possession
of one William AbertsOn Of the city of Worcrs-
term the State of Massachusetts and he then be-
came the holder and owner thereof.
And said bill of complaint further shows that
on or about the 18th day of Febru Try, 1899, and
after said Albertson so became the owner and
holder there of he placed sad notes in the hands
of F, NJ. Butler and Thomas w. Maonev. part
ners under the firm nam" OF "utler K MalOney of
Rutland in II County of Rutland, attorneys at
law. for collection, and directed them to sue and
coll c. tie same. That upon the 18th day of Feb
ruary, 1879 said Butler & Maloney as attorneys
for said Alncrts III, brought suit at law against
said petition up said three notes and to re-
cover the amount of the same from her. retlirna
BE at the March Term, 1889, of Rutland County
Court: that the writ was duly served a. re-
turDp1 in said COuTt and Snrh proceedings
had that at the September Term. 1899 of laid court
Judgment was obt ined against petit ner thereo
for the sum of 1925 5S damages, and o29 Gil COSTS
And petitioner further saws that said suit was
brought by SAID Butler & Malunay by direc
ton of the said Albertson and for his benefit. and
said judgment belonged to him and he was the
sole owner thereof.
And petitioner further says that when sad ut
Ter & Maloney brought said suit in order that it
migl tie brought in Rutland County COurt, they
brought it in the name of Thomas w. Malonev,
and said Judgment was obtained and now stands
of record in his name.
And petitioner further shows that in the year
1888 said The Lyman Strong Company became
financially embarrassed and all its property in
the state Of Ohio of the value OF $40 O0O and more
passed into the hands of trustee for the benefit Of
the creditors of said company.
That alter its property so passed into the hands
of saiu trustee negotiations were entered int o be-
tween said The Lyman Strong Company aud
nearly all in amount of its creditors whereby a
compromise affected by the terms OF which
said clenl'O were palu certain per GEM lnSlr
claims against said company, and such of said
creditors entering into said compromise in con-
sideraton of said per cent being paid to them and
that the others of said creditors should a.sO re-
lease and discharge their sid claims against said
company, and in further consideration that Ma
tda Shepard. the mother Of said petitioner, who
held large claim against said company secured
by mortgage upon all its prope ty situated in
said Cleveland released large amour of Ter
saif clam and surrendered her mort gage security
in order that said company might raise funds
to pay said compromise, accepted the amount so
paid him or her in fu payment OF his or her
claim against said company and surrendered,
assigned and released said claim
That the said Albertson al the time of said com
promise held and owned a claim against said The
LYMAN Strong Company of SlT 200 and interest,"
including said notes upon which said judgment
had been obtained 'ai 81 petitioner; thPt in CON
sd..raton OF the sum Of So. $50 6B to him paid by
sud company and for the further consideration
above expresse | released his sa claim against
said company and against petitioner aud accept
ed the sum Of So $50 GO from said COMPANY in full
payment of the same both as against petitioner
and said company.
That said Alherison at the tine h. entered inc
said ,mprOmise aud accepted said sum of S5,-
$50 SIS in payment of his clam, well knew that the
debt r, presented by said notes and Judgmentwas
the debt OF The Lyman Strong Company and
that as between petitioner aud said company it
belonged to said company to pay, and that petit
TONER signed id nOIes rs an accom- pdaion to
said company, aud he received In payment for his
said claim larger per cent thereon than the I'M
secured creditors of said company by reason OF
the liability of petitioner to pay said notes and
judgment rendered thereon,
That The Lyman Strong Company in consd ra-
ton that Albertson should release not only it. but
petitioner, paid him larger per cent on his
said claim than it did its unsecured creditors. as
Albertson W II knew when he so released his said
claim And the said Matilda Shepard when she
so surrendered ner mortgage security did so that
the said claim against petitioner might be dis
charged as AlbprtSon well knew when he released
his claim against her and said company
And further showing that Wien said comprO-
mise settlement was effected il was carried out
by said creditors entering into it and each ofthem
including Albertson, assigning their respective
claims with one or two eXceptonsl, to one Aus
tin Stevens, and he upon such assignment paid
said creditors their per cent of their said claims,
which money so paid by him he received of said
trustee who obtained it from the said assets of
said company. That upon receiving said assign
ment from and paying said per cent to said cred
tors said Stevens rec"ipted said claims in full to
said Trustee.
That said Trustee was appointed by the Pro-
bate Court in the Dis riot of ohio, court having
jurisdiction in the premises that said setllymen
was effected and carried out by and with It's con-
sent and approval.
That pursuant to the terms of said COMPROMISE
settlement said Trustee on the 18th day of June,
1892, paid to said Albertson, through his attor-
new the sum of 80 lsJ SO, and he on the same day
by his at orneys executed on his part an assign
meuJ and discharge in words and figures as fol.
lows, viz: Tin consideration OF S5lS0 &C received
ITO my full satisfaction of Austin Stevens, here
''by sell, assign and transfer absolutely to said
"Stevens my entire claim against Th- Lyman
"S'rong company amounting To Sl72 % 10 and int
land all my rights, titles and interest therein and
further agree IT, cancel and DISCHARGE all judR-
ir,a N m favor and against said or