The times. [volume] (Richmond, Va.) 1890-1903, 1895-08-17
GEM. MAH0NES DEBT.
MS Transactions UfTH COZ. JOHN
q. UirT> NOR SETTLED.
Tho Iishilit, Exceeds Twenty Thousand
Dollars and Not = Cent Has Been '"'"'
History ofthe Case.

TETERsRUBG. VA. Aug. Especial
The suit Of colonel John c.. Watts vs..
General William Malone. which il was
thought had been settled according to the
terms set forth in the written agreement
which was published in these dispatches
some time ago. now seems to be- as FAR
from settlement as ever. General Ma
hone. Il ia said. failed 20 perform the
mart Of the agreement requiring MN 10
deliver note FOR six thousand dollars. so
secured as 20 be satisfactory 10 the Bank
Of Princeton. tn Mcdowell county. w.
Va. on or before the 9TH oi August
1856 and up to this time. it is stated. he
has failed TO offer a satisfactory note
FOR that amount.
Colonel Watts. 7 learn. has been ready
at any time since the agreement was
entered Into 20 perform mis- par: accord
lns to Tho contract. ana has waited TO
this timo IN the hope that General Ma
hone would poe able 90 perform his part.
II Is understood. however. that Colonel
Watts has so lituo faith in the perform
arce Of the agreement by General Ma
hone that ne has notified the commits
fioucr Nr. W. T. McRae Of this city.
to whom the accounts were referred. 70
proceed with the taking OF the accounts
az ordered by the court. Tho commits
sioncr will proceed next week 10 take the
evidence as 20 the transaction between
tn parties and make up "a statement
Of tho amount due ty Malone TO Watts
on account Of the lands purchased and
paid for by Colonel Watts under tho
original agreement between them. The
matters involved I'm this suit grew on; Of
n contract between Malone ana Watt
Tor the purchase Of mineral lands IN
Southwest Virginia ana In Mcdowell
81 ..F
1890 Under the agreement. Watts was
10 purchase the lands upon toint account
Of himself and Malone. the latter stating
~ Mo time 10 Is said. that he had no
ready money 10 invest.
Watts undertook 20 borrow $4,000 Tor
Malone from the Princeton bank. and
IN order 20 satisfy the bank tho note
was made with Watts as the drawer and
Malone as the ondorscr ana the money
derived from the discount of the note,
together with a like amount Of Watts
own money was paid ont by him IN the
purchase OF the lands.
After some two years the bank re-
quired payment Of the note and Watts
called upon Malone for the money. but
falling 10 get II. the bank Instituted suit
and got Judgment against both Malone
and Watts FOR some twenty-one thousand
dollars.
Upon "a settlement Of the account be-
tween them. Watts claims that Malone IS
indebted to him in an amount largely
exceeding twenty thousand dollars and
he has been importuuing him for some
time TO pay up that amount and so re-
tire The Judgment held by the bank but
was unable 10 get Malone to pay any
thing on account of it.
The suit recently instituted by Watts
was 10 compel the settlement of the ac-
count between them and tho payment by
Malone of the amount due by him on tie
joint venture. The court referred II to
"a commits sioncr 10 take the account and
ascertain the balance OF the amount due
by Malone.
Upon the day set by the commissioner
FOR taking the account Malone through
his counsel. suggested a compromise. which
was subsequently agreed upon and set out
Nl the written agreement heretofore pub
iished. by the terms Of when ne Mahone)
was TO convey to Watts all Of his interest
in tho lands and other properties which
had been purchased on the joint account.
and 20 deliver 20 Watts. on or before
the 9Th DAY cf August a note for SG.9p9 so
secured as 10 he satisfactory to the Bank
81 Princeton the holder of the judgment
and upon the delivery Of the deed and
note Watts was 10 secure the release Of
Malone on the judgment I'm favor of the
Bank Of Princeton. and also to indemnify
him against any further liability for the
property purchased on the joint account
Watts Immediately made arrangements 10
comply with his part of the agreement
and nas been ready at any time 10 carry
II ou', but Malone. it is said has never
rendered the bond for s6Cl. as contem-
plated by the agreement. ana consequent
~ the compromise has failed. and the
suit will be- proceeded with before the
commissioner under The order of the
court requiring him TO make a statement
Of the amount aue by Malone TO Watts
on account Of the purchases made by
him for their Joint account under the
original agreement.