The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-04-17
to be he said he stepped down. Court then
adjourned till . O'clock.
SALE OF THE NOTES.
A New York Auctioneer and LAW
yer's Clerk Tell of Them.

afternoon Mr.. Nutting resumed the stand,
and was shown letter received by him
from the cabinet company, signed by +. b.
Coffin, secretary. 1t was dated July "a,
1888. and mentioned the failure Of the bank,
saying that it embarrassed them temporar-
lily, but they were stronger financially than
ever before. The letter told the witness TO
pay attention to collections and raise the
bank account as rapidly possible. and
send all money Immediately TO the company.
The witness was then turned over TO Mr.
Winter for crosS-eXamnation.
In answer to a question as to when he
opened the books Of the Boston branch he
first answered in October 1892, but after
wards changed his answer and said it was
in November of that year. He said, aside
from the letters which had been shown
him. he had no recollection that the Boston
house was TO be known as the Indiana Cab
met Company between themselves. He was
then asked If, after reading the letters he
did not know that he knew this at that
time, and answered in the affirmative.
He said consignments were not made In
the name of the Indiana company from the
first, but the invoices showed that very
soon after the store was opened this was
the name in which shipments were made
by the cabinet company here He said he
made weekly and monthly reports TO the
cabinet company here. These were shown
him, and he said all but one of them was
headed Indiana Cabinet Company. The wit
ness was then examined as to the state
of the account between the Boston house
and the cabinet company upon various
dates upon which drafts were drawn upon
1t by the cabinet company. He said the
ledger showed the Boston house indebted
to the cabinet company in the sum OF ST.
HJ2 2S April @. Si6l2.2l jan is, 1893.
$7,0SS22 on March 10, 1892; Sl3,07S.5S on July
4, 1893, and SIS, 1858 on. July 13, 1S93 He
said an inventory taken July !, 1893, showed
the total merchandise on hand to be worth
$l3, ,960.93, and on July 10 the total stock on
hand was $l2,s79.S5, the difference being due
to sales in the meantime. On the latter day
the net credit to the cabinet company was
Sl6,345.97, which included a credit 10 the
Wooten company. Mr.. Winter then took
up the transactions about the time Of the
sale to Pierce. The witness said p. B. Cof-
fin had told him that Pierce was in Indian
apolis He told the witness to remain in
charge and Pierce would assist him. There
was nothing said about the salary of the
witnss: Coffin told him to pay Pierce
connected with the factory in Indianapolis
He said several attachment suits were
brought against the Boston house after the
sale to Pierce. One was brought while the
witness was yet with the house. This was
settled under the direction of the cabinet
company. The witness sued the company
soon after he quit working for them His
suit was for wages and his share Of the
profits. He claimed 5000 for profits and
damages He thought $500 of this was for
profits.
Mr.. winter-I believe you got one-half
the profits
Witness-I didn't get any.
Mr.. Winter-Hadn't you been reporting
to the cabinet company that the business
in Boston was being run at a loss?
Witness-I think the last statement
showed a loss of $780,
Upon further questioning the witness adj
mitted that other statements showed loss
from the business.
The redirect examination of the witness
was then taken up by District Attorney
Burke. The witness said that, on March
=, 1888, the Boston house was indebted to
the cabinet company in about the sum OF
to the cabinet company in the sum of
Sl4096.0S He said this increased indebted
Vaiue- OF STOCK on hand, sent by the cabi-
net company. He was asked IL there was
anything due the cabinet company on
those days and answered that there was.
He was then asked If the Boston house
was to pay for goods received from the
cabinet company until the goods were sold
and answered that it was not He said
the item Of $l5,776.47, due the factory, con-
tanned in the statement of July To- meant
that amount Of goods received from the
factory, to be paid for when the goods
were sold. All the balances struck on diff
ferent dates meant the same thing. He
was next asked the greatest amount Of as
sets above liabilities due persons or firms
ooIea @ IHdn the cdplleI company ana an
books of the Boston house showed the
Pierce notes given in purchase of the house
sold to the cabinet company. The witness
was then excused
MAN WHO SOLD THE NOTES.
The next witness called was Henry W.
Donald He was an auctioneer and had
followed the business for nine years in the
city of New York. He said he had sold
the Pierce and Clark notes. The sale was
made Aug. 10, 1898, on the Real Estate Ex-
change in New York. Both sets of notes
had been sold to Alfred II. Byrd Of New
York and each batch realized 800. The
notes were sold at the instance Of Robert
L. Harrison. attorney. Byrd is an at
torney in the office of Mr.. Harrison. The
sale Of the notes had been advertised In
the New York Post for two days prior to
the sale. He said there were fifteen OF
81, ,O96. 49, There were twenty of the Clark
notes of the face value of s9,4lS76 There
was but one bidder on the notes.
The next witness called was Alfred III
Byrd, the purchaser of the notes He said
he was managing clerk in the office of
Robert l.. Harrison, attorney. He said he
attended the sale of the notes at the in
stance of Mr.. Harrison. The payee of the
Pierce notes was the Indiana Cabinet Com
blank by A. S. Reed, secretary. The wit
ness had copies of the notes in an envelope
asked him what that meant. The witness
hesitated, and Mr.. Burke said he need not
tell II IL was a private matter that he did
not wish to speak about The witness said
after the sale he had learned that the notes
were held as collateral by Lydia T. Coffin,
the wife of William E. Coffin, of the firm
of Coffin & Stanton, bankers in New York
and were held as collateral on a demand
note of the cabinet company. On the Pierce
notes he had realized about 500. The Clark
notes were next taken up. They were made
payable at the State Bank of Indiana in In
dianapolis. They were indorsed by the In
dianapolis Office Furniture Company, by Z.
b. Coffin, secretary. Prior to the sale thev
were owned by Mrs. Coffin. The note for
which they stood 8 collateral had been in
dorsed TO man named Allen. He realized
about 5000 on the Clark notes. He paid
for them was afterwards repaid TO him by
Mr.. Harrison. He had spent $500 of the
amount to take up draft, and a portion
of the remainder he had expended in pur-
chasing other Of the Clark notes from a
man named II. j. Smith, Of Seymour. Ind.
part of the proceeds had been paid TO
William e. Coffin, and the witness still
notes in his possession. He bought the
notes from Mr.. Smith at the direction Of
Mr.. Harrison, and paid p cents on the dol
| lar for them. He had had a conversation
with Z. y. Coffin to the character Of
Mr.. Clark, to ascertain If II would be safe
| to leave the property in the hands of Clark.
| He received no instructions from either of
| the Collins in reference To the sale Of the
| stock. The witness said after the sale OF
the notes ne had heard from Mr. Harrison
how they came into his possession. lie
said he knew that Mr.. Harrison was acting
| as attorney for Mrs. Coffin. After the sale
| of the notes arrangements had been made
| furniture and turn over the proceeds 10
toll no was