The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-01-11
AN EX-JUDCE IN court |
Mrs. Mary ROSenaSle Wants 10 Recover $4,000
that He Invested for Her.
MONEY WAS sunk IN A COAL mine
The Plaintiff Thinks that the Stock in
the Wyoming Manufacturing Com
pany Was Not a Good Investment,
but the Defendant Says II Was Until
the Panic of 1884.

fendant in a suit that is being tried be
fore Judge Edwards in court room No.
8. The plaintiff is Mrs. Mary A
Rosenasle, of New York, who wants
to recover 50, 600 that she lost on an in
vestment made for her by Mr. Hand
ley.
The action was begun on May g. 1887,
and on April &, 1880. after the case had
been tried before the ,late Judge Con-
molly, a verdict for the defendant was
returned, Anew triA was refused aud
the case was taken 70 the supreme
court, where it was argued during the
last week of February, 1892 The su-
preme court decided in favor of the
plaintiff and tho case was sent back to
this county to be retired
Attorneys g. H. Soper and James W.
Oskford appear for Mrs. Rosenagle
and Attorneys Lomuel Amerman and
George s. Horn for the defendant
Ex Attorney General Palmer, of
Wilkes Barre, assisted the counsel for
the defendant yesterday morning, but
was too i'll to appear in court in the
afternoon.
HISTORY or THE CASE
On July 20, 1867, Valentine and
Mary A Rosenagle brought suit in Luz
zerne county against the American
Life Insurance and Trust company on
u policy issued on the life Of
Mary c. Kring, who died in
1867 Attorney John Handley and At.
torney II. w. Palmer neither Of whom
had as yet won the exalted
titles they are now privileged to
prefix their names with, were counsel
for the Rosenagles On April 10, 1878,
verdict of So. 1919 was given in
favor of the Rosgnagles, but new
trial was granted and subsequently the
case was settled for 81 600 In 1888
Attorney Palmer wrote to Mrs Rosen-
agile, telling her that NJ Handley,
then president judge Of this county,
held the money, subject to her order.
On Dsc H. 1888, she came to this city
from New York and on that and the
following days had conferences with
Judge Handlsy ct bis Office on Lacka.
wanna avenue. From the amount in
Judge Handley's hands, $1,000 was
deducted for counsel fees, aud as Mrs
Rosenagle desired to invest the SO 600
remaining. she says that the judge Of
fered to buy stock for her in tn: Wyo'
ming Manufacturing company.
SHE INVESTED HER MONEY.
According to Mrs. Rosenagle's story
told on the. stand yesterdayJudge Hand
ley told her the company was doing Il
prosperous business and displayed a
book showing her that he had large
block of stock in it and that other
prominent citizens of the city were
also stockholders. He told her the
stock would pay six per cent. dividends.
and personally agreed to pay her that
amount. On this showing she agreed
to take thirty shares of the stock at par,
and certificate was accOr iingly made
out for her. At that time she did not
know the works of the Wyoming Man.
ufacturing company consisted of coal
mine in West Virginia.
On. her stock she was paid by Judge
Handley three semi-annual dividends OF
800 each. They were paid in July,
1884; January, 1885, and July, 1886
In June, 1886, she received copy OF
the Star of Charleston, West Virginia,
which conveyed to her the unpleasant
information that the Wyoming Manu-
featuring company was inSOlvent and
that the coal works on the Klnawa
river were about to be sold at commits
sioners' sale. She never realized any
thing on the SO, 900 stock she had in the
company. Although she demanded
that Judge Handley make good the
amount she had lost in the company,
he refused to do it.
EX-JUDGE HANDLEY TEsTIFGEs.
Ex-Judge John Handley was called
by the plaintiff on cross examination
after Mrs. Rosenagle had retired from
the stand. He said that he was presi
dent of the Wyoming Manu- featuring
company but never drew cent oi
money as salary although the company
allowed him one.
The company began operations in
West Virginia in 1881 and the follow
ing year the board OF directors decided
to give two shares of stock for one tC
new stockholders as an inducement fol
people to invest. This extra share oI
stock was in the nature of an advance
dividend. The company wanted money
to build a railroad from its coal works
on the mountain across the valley tC
the Kanawa river so that its coal could
bs shipped in boats and took that
means of raising it
He allowed Mrs. Rosenagle to cleo
whether she would take the wo for on
stock or purchase portion Of his stool
at par and receive the guarantee Of {
dividend. She took the stock at par
as she wanted an assured income frou
her investment. He felt that he eoulC
safely guarantee the dividend, as he
had great faith in the future Of the
company,
STOCK ABOVE PAR,
What did you consider the stocl
worth at that timer asked Mr.. Soper
II considered a 500 share wort
$3.50"
Then You were kind enough to sell
this woman your own stock worth $l5(
a share for 800. were your
II had legal right to do it, repli e,
the ex-Judgo and Mr. Soper admitted
he had.
Mr.. Handley said he told Mrs. Ros
enagle that she would have to take hel
chances in the company the same a.
the rest of the stockholders He guar
anteed the dividends but not the in
vestment. The company was in
prosperous condition and makinl
money until the panic Of 1884 !
crisis came, money could not be raise
a. 'he works of the company that h
nsi red worth from 500, 900 20 $40,
0wl sold for SO. 600 or 81, 900. II,
all ne had invested aud about $t0,.
0OO on notes for money he had nd
vanced. He did not know the amour
Of stock he had at the time of the fail
urs hut he had at various times he'll
from s., 900 to 81, 600
He always considered the propert,
valuable and the parties who obtained
it after the sale have since made for
tunes out OF it. When court adiourne