Capital journal. (Salem, Or.) 1893-1895, 1895-11-14

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possenalon " property. I mailed a copy
10 Chas. Scott Of woodbufn, ID. E,
swank ~ Aumsvllle, aud personally
gave one 10 Mt Holmes sud l,t q
a copy Al Mr.. strong's house. have
had interviews regarding paylng Oh
indebtedness aud turning property
back 70 the corporation. In July I
went 10 Mr.. Fletcher and made him
proposition that would pay aud
put up security for all the money that
had been paid out, including Nil he
paid out on II, and interest, and give
good security n he would turn the
property back to the corporation. He
said hs would have 10 see Strong aud
Cline. I said, "Suppose I see Strong
In regard TO H." He said "all right;
but I can't do anything until talk
with them" i saw Mr.. Strong and
told him I could put up good security
for all money claimed by the corpor-
alton. said Gov. Fletcher and 1 had
computed amounts due aud made IL
II "a 800, and this fall there would be
due on subscription list about $1,000. 1
said would give security, but said
would rather put up my proportion Of
my stock, which would have been n
little over four.nlnths, and that we
would take ths accounts, all but about
four bits on subscription, and place
them In the hands Of an attorney for
collection. and use this as collateral
security, which would guarantee pay
ment Of money. Mr. Strong talked
favOrably but said he would have to see
Mr.. Fletcher. I went TO Mr.. Fletcher's
Office after that and told him 1 wanted
to make another proposition, but he
said he did not want to listen to any
and ordered me out. believe that
Is the only proposition ever made
looking towards the purchase OF
the property. The press cost me
81 ,O85 laid down In Woodburn. 1
brought the press up here and turned
1t Ia as part payment on my stock. 1
can only estimate worth of property.
II was worth cash value of $500,
including back accounts and bills
receivable. Do not know what was
due on subscription, but estimate be-
tween $500 and 5000. Presume 1t
was so cents on the dollar. We had
1850 subscribers. A mortgage wss
given Mr.. GuIss to secure him for
some money. Seven hundred and forty
dollars Of the money was given to tab g
up note. Do not know what property
was sold.
Cross examined testified: 1 YVES sec
retary Of the company when the
mortgage was issued to DR.. Guiss. /
became business manager In December,
1893. 1 did not tell the directors It was
necessary to raise 81 800. negotiated
loan of 800 Of Mrs. Waller. Was
business manager when that loan was
obtained.
w. L. Brooks, e. H. Flagg, N. J..
Judah, II. E. Cannon, t. ]. Cronise, n.
b. Patton and others were called to
give estimate OF worth Of property and
subscription list. The average estimate
was s., 500 for the whole. and so cents
on the dollar for subscription list.
r. L. Cannon and w. II. Rielmier
testified that the press was now in bad
condition, being SET on poor founda'
tlon. Plaintiffs closed their case, and
w. H. Holmes, attorney for the de-
PENDANTS, made a moJion for non suit,
which was not sustained by the court.
The defense In present. their case
practically admitted everything that
was proven by the plaintiffs, but
claimed that 1t was done In good faith
and because the company was insolv-
ent.
There were no closing arguments by
the attorneys on either side.
The court was until l0:4O at night
hearing the testimony and then took
the matter under advii ement.
Rheumatism Runs Riot
When there is iactio acid In the blood.
| TjnimRnta and lotions will be OF nc