The herald., 1895-07-13

yestors to the garden spot of Southern
(,alifornfA. The lots were offered for 500
apiece. $40 with monthly installments o
SO. six houses ere to be erected on
the tract and given among. the puIchas
ers. The lots were distributed by means
Of alottery scheme. The names of thu
holders of each OF the lots were placed II
. box ana the sSlips dra wn. The hrst slS
were awarded The Shurlses while the pal
ance took their choice OF the lots IN the
order in which they came from the bo x
Business seemed to be -fourishing but not
. for long.
! Mr.. Hall visited Eltioi't to make collec-
tions on the agreemen t. hut his trips were
met wieh excuses. Eli oft said the peo-
pie were not paying pro. mptly, and that
be had but little money. About 5000 was
paid to Mr.. Hail. though, after he had
repeatedly called upon the assignee OF the
agreement.
Many of the purchasers c oncluded to
pay up in full for their lots am get deeds,
instead of dragging along hof months
with the installment plan. El hott they
claim, had represented to tn en- that ms
company had a clear title TO th Q .land' put
when he met their demands for deeds
with besitations their susplci on.s were
naturally aroused and it is beli'sve'i tnat
trouble over securing these dee DIS from
Mr.. Hail. as their agreement had PRO
vided for was one of the i'm media tie
causes for his disappearance. About
twelve people paid, six of whom have
deeds but the rest have not. 1t is right
in connection with these last trans ac-
At-c4 I;At% I,,r Lot Il, alf
investigation by the grand jury. as su g.
gested by Mr.. Hall in an interview that
follows.
Mr.. Hall says that he finally tired o I
Elliott's excuses, as they had been run
ming along until this year. and he finally
demanded statement from Elliott for
the purpose of learning whether be
should be given the extension of time as
prayed for. Elliott sent ii to the offices
of Bicknell & Trask, Mr.. Halls attor-
neys. According to the latter gentleman
the account stated that Elliott had col
lected in the neighborhood of $2S, 600, and
that about $4,000 more was still due
him from lot holders. This statement
was delivered some time the latter part
of April, as he disappeared soon after it
was received.
With the disappearance of Elliott. to-
gether with his contract, came all of the
difficulty. The business was for the time
being in chaos. Every body was aroused
with the fear lest they should be closed
out and lose all that they put into the
lots. Mr.. Hall stated that Elliott was the
only person with whom he had to deal,
and that the holders of lots had no status
in The case. They were soon set at rest,
however, when it became known that Mr..
Hall was willing to consider any PROPOSE
tion fiom them that was reasonable, this
Rmicable feeling having been helped in
no small degree by Mr.. N. Cook.
The situation is a very peculiar one.
Assuming that Elliott's statement was
correct, there is still S14, 900 due flom
property holdres. In addition, there are
twenty-five lots unsold. Take Elliott
payment of $4,000 from SO, 500, the original
amount due Mr.. Hall, and balance OF
$19, 800 remains. Add to this the interest
at per cent for nearly two years, and it
is increased to about SO, 600 now due Mr..
Hall. 1t is understood that one of the
propositions made to this gentleman was
for him to take back the twenty-five lots
for in the contract, amounting to about
$500, and collect the $14, 900 from the
property holders claimed by Elliott. This
subtracted from so, 900, the amount still
Que him, would leave a deficit of $500.
This last amosnt would have to be sub
scribed by them in order that Mr.. Hall be
paid the requisite amount for his lard.
Mr.. Hall is disposed to act leniently
and help the lot buyers from their en-
tanglement. 1t is first necessary for them
to locate Elliott and get the agreement
assigned by him before they can proceed.
If he cannot be found the next solution
will be for Mr.. Hall to foreclose and then
let them redeem.
A number of meetings have been held
by the de.uded investors, and they have
about come to an understanding. All
are naturally desirous of retaining their
property, and those who are in arrears
are but waiting the opportunity to pay
up and get title from Hall.
Several of those interested were inter-
viewed yesterday by a Herald representa-
tive. All approached said Elliott had
represented that he had clear title to
the property. When asked why they did
knowledged that bad mistake had been
committed in the neglect, but nearly all
added that Elliott was such a nice old
man that they believed him to be all
right.
There are over 125 investors, and nearly
all are residents of Los Angeles. Among
some of the well-known ones are Victor
Ponet, W. II. Sutch. S. S. Wallace, John
Caminetti, w. j. Hutchinson and w. c.
Mecklejohn. The committee appointed
to represent those Interested has spent
some weeks gathering data and all the in
formation pertaining to the situation
possible to get.
Mr.. W. II. Cook has the list of the
names, but declined to give them up for
publication.
Mr.. Halls Statement
Mr.. Charles Victor Hall, who holds the
key to the situation was interviewed
yesterday. He said:
elm regard to this affair you may say
that those people have lost their money.
They have no standing in the case hat
ever. Mr.. Elliott is the only party whom
I recognize. You are aware that when a
contract is vitiated by noncompliance
18th tho terms if is rendare1 mil and