The Portland daily press., 1895-06-13
The PREBLE CASE.
Suit to Recover $4,000 Begun at
Boston.
A CASE OF SPECIAL INTEREST TO
PORTLAND PEOPLE.

Old Firm of Fl. NJ. Bates and I. c. b. Wal
ley are the Defendants Edward Preble
Son of Plaintiff, is Put on tho Stand. NJ
Boston, June 12.-Hearing in the case
of Preble VS.. Henry M. Bates and j. G.
Bates Valley, was begun in the United
States District court before Judge Colt
this forenoon.
This case which is somewhat peculiar
in its nature, is already familiar to the
public from the fact that, it was tried in
1888, when. Judgment was found for the
plaintiff. Exceptions to the finding were
heard and sustained before the United
States Supreme court, which ordered a
new trial.
Sarah A. Preble of Portland, Me-,
widow of the late Judge Preble of the
Supreme court of Maine, is the plaintiff,
and the defendants constitute the firm of
Bates & Valley, the well-known stock
brokers of this city. She seeks to recover
about $40, 600 (s23oO with interest for
fourteen years., the amount of some stock
and bonds, alleged to have been misap-
propriated by the defendants.
r. M. Morse and L, G. Southland repre-
sent the plaintiff, and Samuel Hoar and
William Sullivan appear as counsel for
Bates Valley.
The history of the case covers long
period of time and is very interesting.
Stated briefly it is as followos:
Mrs Preble became the wife of the late
justice in 1852. He died in 1885, leaving
besides the widow one child, Edward,
who was born in 1855. He left moderate
property, about $50, 600, it is said, be-
queathed principally to his wife. The son
received about $40, 900 by the will Mrs.
Preble remained the guardian of her boy
and brought him up.
From 1871 to 1875 they resided in Bos-
ton, when a Mr.. Richardson of Cam
Preble's personal property which was
placed in vault with a trust company.
In the autumn of 1875 Mrs. Preble went
to reside in California, her son accom-,
panying her. In 1876 she learned of the
illness of Mr.. Richardson and sent
Edward to Boston to take charge of the
securities. Upon his arrival here the son
found that Mr.. Richardson had died. He
secured possession of the property and
placed it in a vault with the Union
Safety Deposit company on State street
AS told by the plaintiff, he then
formed the acquaintance of the defend
ants, and they became very friendly. In
property was gone, and, after consulting
counsel, she charged collusion4 between
her son and Bates & Valley, setting out
that the money had not only been con-
yerted, but there hee been fraudulent
representations made for the purpose of
deceiying her with regard to the security
of the property.
She claimed that her son, had been led
to speculate very heavily by the defend
ants Also that they induced her son to
grant them leave to go to the vault at
any time they saw fit, in fact, to have
just as full access to the bonds as himself
She claims that her son always acted
under the advice of the defendants, and
on account of this the money was lost.
The action of tort which followed was
heard by Judge Colt in 1888, and a verdict
of something over S34, 900 was rendered
for the plaintiff. AS has been said, ex-
ceptions were filed, and argued before the
United States Supreme court in the latter
part of 1893, and in January, 1894. The
and new trial was ordered
Clement K. Fay of this city was ap-
pointed auditor and made lengthy re-
port, which was read by Attorney Morse
in opening the case. 1t said that the
former hearing had shown that Mr.
Preble was fond Of speculating;. that
| Messrs. Bates & Valley is a firm of long
standing, and no evidence appeared of
their having been heretofore placed under
the ban of suspicion. Also that they had
been very frank in their testimony, and
willing to throw open their books for in
| spection.
Mr.. Fay also said that Mr. Preble led
lavlshly and in manner that led the
defendants to believe he was very
wealthy. Also that he knew very little
| OF proper business management.
| Edward Preble was the first witness
this morning. He said that in 1876, when
he was preparing to return to his mother
| in California, he gave Bates Valley the
the vaults at 40 State street In 1877,
when Mr. Preble returned from Cali
| fornia, the securities were inspected at the
| vault and found to be intact. At this
time Mr.: Valleys power of attorney was
cancelled. During the year Mr.. Preble
had not key to the vault and transacted
no business in which the securities were
concerned. He did not go back to Cali
fornia until 1879, and in the meantime
the acquaintance with Mr. VALLEY ripened
into warm friendship and intimacy.
They went about together and Joined the
Union club at the same time.
| MI. Preble said that he instructed Bates
Valley to invest the proceeds OF S2so0
| IN United States per cent registered
bonds, the property of his mother, in
whatever they saw fit That they re-
ported to him that they had secured $4,000
IN the stock of the Oregon railway and
navigation company; that in pursuance
OF his instructions they reported to him
| that twenty shares of Old Colony were
put into Chicago & Eastern Illinois
bonds He has never seen any OF the stock
OF the bonds Everything was on paper.
A recess was taken for one hour at one
o'clock
StrncIr An NEarbead Bridge