The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-09-18
BULLION BECK FURRY.
SALE OF SOME BECK STOCK SET
ASIDE.
The Error on Which the Order WAS
Based-Statements BY Both Sides
Interested in the Matter.

On the records Of the district court
there appears an innocent little nota-
ton of the setting aside of a judgment
of some $1,000 and order of sale against
John Beck and in favor of the James
Spencer-Bateman company, the rea-
son assigned being s.error." The Ger
ror" consisted in the plaintiff having
secured judgment and order of SALE
Notwithstanding the fact that it was
not the holder Of the note upon which
suit was commenced, the paper having
been transferred to the National Bank
of the Republic as security for another
note.
While upon It's face the entry looked
to be innocent enough it's real meaning
was that John Beck's equity in the
control of the Bullion-Beck and Cham
pion Mining company had been sold in
satisfaction of the judgment, the pur-
chaser being David James. The sale
was made at Logan on Friday with
out the knowledge of Mr.. Beck, or any
of his associates, and the news came to
them like clap of thunder out of a
clear sky. A vigorous policy was at
once adopted, however, and the judg-
ment and sale were set aside by Chief
Justice Merritt when the facts were
called to his attention. Then Mr.. James
called upon Mr.. Knox, of the National
Bank of the Republic, for the return
of the notes. only to receive the infor-
nation that they had been paid by
Mr.. Beck. and the bank would hold the
money as payment upon the paper for
which it was given as security.
The affair created a great stir in To-
cal financial and business circles, es-
pecially when it became known that
Mr.. Beck and his associates looked up
on the judgment and practically secret
sale as a direct attempt of certain par
ties to wrest the control of the COM
pany from their hands. This could
have been done had the sale been con-
firmed by paying off the claims now
standing against the stock, which have
been greatly reduced within the past
six months.
In giving his side of the case, Mr.
Beck stated that he had some time ago
put in a steam heating plant and other
plumbing at the Hot Springs, and in
pure friendliness gave the contract to
Mr.. James company. The job was to
be done by days work, Mr.. James to
have full charge. The bill for the work
was about $4,000, and although he was
onto the method of charging univer-
sally adopted by plumbers, Mr.. Beck
registered mighty kick, but ultimate
ly paid part of the bill and gave his
notes for the balance, after receiving a
promise to the effect that a consid
BILE reduction would be made before
payment was exacted. The notes be-
came due and still the reductions had
not been made, but the company press
ed Mr.. Beck for payment. Meanwhile
the notes had been transferred to the
bank and were held as security for an
other note. President Knox and Fl. NJ
Ryan, Mr.. Beck's agent, attempted to
compromise for 1000, but the company
refused and proceeded to secure judg-
ment and then an order of sale, the
81. 900 shares of Bullion-Beck stock in
the hands of the Thatcher Brothers
Banking company being very quietly
attached and sold to Mr.. James for the
amount of the judgment. Mr.. Beck
stated that had he received notice of
the impending sale he could have paid
the amount Of the judgment. The gem
tleman looks upon the sale as an at
tempt to secure his property for moth
ing.
Mr.. James was also seen, and when
questioned regarding the matter, stated
that it was simply a business transac-
ton. Mr.. Beck had given his notes to
the company to secure the payment of
a claim, and when it became apparent
that the paper would not be paid, a
declinatfon having been made of
the offer of compromise by Messrs.
Knox and Ryan, judgment and an or
der of sale were obtained. Happening
to be in Logan at the time of the sale,
Mr. James said he had purchased the
stock in order that the company might
secure its money, there being two other
bidders who intended to bid less than
the amount of the judgment There
had been no attempt, he said, to compel
Mr.. Beck to sacrifice stock valued 1T
not less than $4,000 for the paltry sum
of 80 900