The sun., 1895-04-08
GEN. MAHoNE,s AssIsNMESr
Lswsuit aud n Sudden Demand for
100000 Caused II

PETERSBURG, Va, April T.-Georgo g. BERNARD
OF this city, who, with Judge Edmund waddil
OF tichmond. represents Gen. Malone in the
chancery suit of Col. j. G. Watts against the
General, argued on yesterday afternoon before
Judge D. NJ. Mullen of the Corporation Court OF
petersburg. was asked this afternoon about tho
suit and the reasons why Gen. Malone made n
deed OF assignment. He said:
several years ago Col. Watts borrowed from
the princeton Bank OF Mercer county, w. W..
100000 on his note, endorsed by Gen. Malone
and Henry Bowen. Watts used this money and
other money of his own in purchasing an inter-
est in mineral lands in West Virginia on the
Joint account OF Gen. Malone and himself. A
Few months ago, Watts, Malone, and Bowen
confessed judgment In West Virginia In favor
OF the bank for tho amount of their note. Re-
Gently the bank brought suit in Tazewell county
against them to get new Judgment OH this
West virginia Judgment, and lately Watts be-
gan In the Corporation Court In Petersburg n
chancery suit against Malone to adjust and
settle their transactions growing out of tho
joint purchase of the mineral lands. This
chancery suit Gen. Malone Ia defending.
The deed OF trust was induced by the suit OF
suit. Gen Malone. like many other wsil-to-do
men at this time, has not the ready cash to set
Tie Judgment for more than twenty thousand
dollars, but has ample property to pay al of his
obligations and leave q handsome surplus. in
cluding not only this debt to the Princeton
Bank, but all others due from him.
Gen. Malone being surety OF Watts in the
bank debt its payment will fully discharge all
that Watts claims. IL may be said Furthermore
that 1t 10 believed that there will be an early
adjustment Of the matt ers Of con troversy in the
Watts suit. and the valuable mineral lands in
Mcdowell county, w. Va. which Malone,
Watts and others own Jointly. will be CONSOLE
dated as the property OF joint stock company
according to the original plan: Being managed
as corporate property, il will be disposed of at
considera BILE profit to the owners"
Mr.. Bernard said there Is no reason to fear
that any sale OF Gen; Mahones property covered
by the trust decd will be necessary. Gen. Ma;
hone has always been considered very rich, and
had made deed OF trust caused much surprise
and has been much talked of to-day.
RICHMOND, Va. April 7.-Judge Edmund
Waddili, the trustee named In the deed of Gen.
Malone. explains that Gen. Malone wanted TO
secure certain debts he owed. in preference tO
others he considered that he did not owe, and for
which he was being sued. or suits were threat
ened. Judge Waddill says he does not consider
Gen. Malone insolvent. AS the Judge under
stands it, owing to the expense involved in
carrying his large unimproved real estate in
Washington, and entanglements growing out of
other real estate transactions, Gen. Malone
like many others, Is somewhat in need or ready
money.
His property, Judge Waddill says. ls very
valuable and his real estate in the city of W ash
ington alone at even half its value. would sell
for enough to pay every possible Liability
against him. and leave him in comfortable cir
cumstancos.