Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1894-05-31
II. or. SETH EMEyT.


The Beeson Farm and block of wiz
nington Dental Manufacturing Co.
stock Turned Over to the Knights.
AS exclusively told in EVERY EVEN.
ING Wednesday, the matter Of the loss of
S69,47G.5l to the Supreme Lodge X. of
=, by the failure of X. Il. Robinson &
CO., which was placed on deposit by ex-
Mayor Wiley, supreme master of ex.
cghequer, with the firm, has been ad-
Justed, and counsel for Mr.. Wiley have
secured releases from any further liza
bi.ity under the official bond.
he proposition TO transfer to the
ledge the Beeson farm and stock in the
Wilmington Dental Manufacturing CO.,
valued at $4,000, was made 10 the
supreme Lodge officers last summer
but they refused 10 accept it. They
afterwards gave the matter full con-
sideration and, rather than stand theex.
peases of trial in the United States
court, preferred 10 take the property
and realize what they can from it.
HE lodge took the Beeson farm at
value of $4,000, and what they lose BY
the settlement depends upon what they
realize from the sale OF the Beesun farm
and the securities. The following is the
release given to Mr.. Wiley by the SUI
premc Lodge officers:
Received of Stansbury j. Wiley, late
supreme master of excheouer OF the
supreme Lodge, Knights OF Pythias Of The
World, full payment and satisfaction of
all money received by him as supreme
master OF eSchequcr as aforesaid, includ-
ing all money deposited by him with the
banking house of X. r. Robinson & Co, al
Wilmington, in the State of Delaware, to
the credit of said Supreme Lodge and TO
the credit of the Hines Memorial Fund or
otherwise. In consideration whereof the
said Stansbury J. Wiley, as we'll as each
OF his sureiies in the annexed and fore
going obligation, are hereby released and
forever discharged of and from all liability
under or by reason of the said obligation
and the same is surrendered and cancelled
THE VALUE OF THE SECURITIES.
The deed of the Beeson farm is in the
hands of the recorder OF deeds, and
while it has not been placed on record
yet, 1t has been duly executed and will
be copied as soon as the clerks find time
to do SO. The Beeson farm has been
transferred by Mr.. Wiley to Andrew E.
Sanborn for the Supreme Lodge. The
consideration named in the deed is 81.
Several real estate men were asked
the other day the value per acre of the
Beeson farm, which comprises "a ocres.
The estimates were from $500 to 81 900.
Joseph L. Carpenter, Jr., who is
thoroughly familiar with property in
that neighborhood, was asked 10 give a
conservative estimate by the officials Of
the Supreme Lodge on the occasion OF
one Of their visits here. He placed
upon the property valuation OF about
$500 per acre, or 1900, which price
he would be willing to give for the
property. When seen last week he
had not changed his opinion and
thought the property worth that figure.
When the Supreme Lodge was asked
ito accept deed for the property last
summer, Supreme Keeper of Records
and Seal r. L. G. White said: "The
only attempt to secure the Supreme
Lodge in any way was the tender of
deed to tract of land in the suburbs of
the city which the Supreme Lodge was
asked to accept at a valuation of
$4,000, releasing in consideration
thereof Mr.. Wiley and his bondsmen
from liability to that amount We find
on investigation that this property,
which we are asked to accept at
valuation of $4,000, is listed on the as
sessment books far below that figure,
while there is mortgage of $4,000
against it.
Subsequently tender was made of
the block Of stock of the Wilmington
Dental Manufacturing Co. in addition
to the farm, which Mr.. White at the time
said the Supreme Lodge did not know
the value Of.
A firm Of brokers was asked last
Thursday to give the market value of
Wilmington Dental Manufacturing Co.'s
stock. 1t was stated by the firm that
none of the company's stock had been
sold by them since the company went
into the hands OF receiver. The par
value Of the stock before the failure was
500 per share. Brokers now believe
the stock to be worth from $50 to 500
per share, although it is difficult to give
an exact valuation.
An official of the K. of P. stated YES
terday that the Supreme Lodge pre-
ferred to accept this basis of settlement
rather than stand the expenses of a trial
in court and the risk of the proposed
litigation. The X. of z. man also said
that he did not believe the property
would meet the loss sustained by the
Supreme Lodge.