The Washington times., 1895-05-26
He Says Mrs. AndersOn's Loan
Story Is Not True.
JONES AN INNOCENT PARTY
The Lawyer Declares That the Gran
lite State Provident Association
Honestly Advanced Her Money Upon
Shares of Its stock-He Alleges
That She Was Not Deceived.

HInere are always TWO Sues TO every
story. This is an old saying trite and true.
Mr.. j. j. Wilmarth, of No. 227 Four-and-a-
half street northwest, who is a lawyer OF
standing in this community, was called
upon by q Times reporter last evening and
asked for his version of the statement in
yesterdays Times under the caption
"Shylock Jones' Scheme
In this article Mrs Mary A Anderson
made serious charges concerning a trans
action she claimed to have entered into with
the Granite State Provident Association
through the einstrumentality Mr.. Wilmarth.
Inthe fist place that gentleman disclaimed
being an agent OF the company ,butexplained
that he was simply its attorney in the
District. II o was then asked for his
knowledge OF tn etransaction complained of.
STATEMENT OFWILMARTH.
"In October, 1891 said Mr.. Wilmarth,
Mrs. Mary a. Anderson became a share
holder in the Granite Provident Associa-
ton, subscribing to a certificate of twenty
five shares as an investment. At the end OF
about six months tApril / 1922 she in
formed me that she had borrowed $12 900
from the United States Security Life In
surance and Trust Company, of Philadel
phia. That she was in arrears in the pay
ment OF the monthly dues to the amount Of
Sl12.20, and the agent of the Granite
State Provident Association had spoken
to her about borrowing the money from that
association and taking up the loan in the
Philadelphia company.
"She being aware that was the attorney
representing the Granite State Provident
Association. came in my office TO consult me
about it. ! advised her to take loans suf-
ficient to cancel her Indebtedness with the
Philadelphia company. To do this il was
necessary for her TO take forty nine addi-
tional shares in the Granite State company,
making seventy-four in all. Then / in
formed her the latter company would make
her a loan OF S11 $40 net on the seventy
four shares, which would require her 10
pay So per share, or $14S per month.
Il further advised Mrs. Anderson that
unless she was sure she could keep up these
payments, she had better not attempt it.
She came in again to see NE, and brought
with her friend, Mr. MeiZger
I'VE figured up the advantage to be
gained by taking loan from the Granite
State Company and found il would cost her
81 900 or So 600 less she only having to
pay in that company eight years and prob
ably less, while her payments in the Phila-
delphia company would run for twenty
years.
WAY LOANS ARE MADE.
Granite State Provident Company is by
having the first trust upon property for
some amount which the company assume
and pay off interest and principal, and
furnish the balance OF the , oah themselves.
Mrs. Anderson's statement that she did
not read the deed OF tTpst is incorrect.
The papers were an read over and fully
explained to her.
Her indebtedness at the time to the
Philadelphia company Was S11 ,736. 10. .
The neces sary expenses 81 the loan, includ-
ing the payment of dues, etc, III the asso-
ciationwere 1886 making the um necessary
for Mrs. Anderson to. have 81 1872 10, OF
which amount she received from the Granite
State Provideut Association SIl $40. 1
loaned her myself, in cash. to make up the
difference S132. 10, which she repaid
me within two months. A
Her statement that she paid her dues
In the Granite State Proyident Associa-
ton promptly is not true. In March, 1894,
she was in arrears TO that company S $40.
She, not being able to pay this, the Granite
State Company made her Il further loan
on eleven and half shares.
Mrs Anderson was fully aware of-the
whole transaction from the time she first
| took shares ia the association, and was
| Overlooking with gratitude to myself aud
| the Granite State a sSoCiation for helping
! her out of her trouble by making her an
/ additional loan on the 1 2 shares
PAID NOTHING SINCE
But since July, 1894, she has paid
| the association nothing whatever, during
which time the association has paid for
her the interest on the trust, amounting to
$500. Her statement from beginning to
end is untrue. There is q suit pending
about the matter she complains of, which
| will evidence the right and truth OF the
matter upon its hearing.
$50 far as Jones is concerned contin-
ued Mr.. Wilmarth, '-he has no connection
thus far as TO the differences between Mrs.
! Anderson and the Granite State Provi-
dent Association. He has been drawing
interest promptly for three years from that
association. In making loans, the Granite
State corporation generally procures so
much money on the first trust and then
takes q second trust 20 secure payment of
advances and assumes payment of the
first trust and the interest thereon.
II never knew Mr.. Jones until a year ago
Through Williams & Byrnes, his attorneys
first trust was procured on the Anderson
property through Orlando A. Jones. Th
money he furnished was placed in the hand
of the president of the Real Estate It'll
Company. who disbursed it in paying
off the Philadelphia comPany's loan OF
Mrs. AnderSon's property. Jones was no
present and his only connection was u
consent to loan $11 800 on Mrs Anderson
property"
In conclusion Mr.. Wilmarth said he i
not and never was an agent of the Grant,
State Provident Association but was onl
its attorney to draw up all papers whel
loans are made.
. r.