The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-03-30
4 WILDCAT SCHEME.
r;ue Work of j. K. EdmistOn
in Columbia City Property.
.,,ev DAY IN DIVORCE COURT.
~,~. Unnappy Couples Reiieved-Aiie-
~.fyous of Irregularities In secur-
ing Street Assessments.
u,sy DAY IN DIVORCE COURT

o. az ait of II. II A. Hastings. as re-
~ If the Security Savings bank.
rsr.t Charles kimbali and wife 10 re-
ss4 l- rsn. and lot ~ Ia block OF the
-. az Columbia, on which there Is erect
frame dwelling and which IL is
sI.trne.t belongs TO the bank. the defend
- e,sa an answer and cross complaint
a. suuersor court yesterday ana the
S..,1rs of IL is the showing up OF another
- .sa many wildcat schemes OF j. X
vsrss..an. the Waila Walla bank wreck
- Tae defendants ailege that they
s~,, the property Involved In April.
ssss srhev were 10 pay for IL on the in
sss.,i.asnt plan and the Washington Home
sc..@AaTerat.ve Company. from whom the
~rkasa vas made, entered Into many
S..srnen.s. the majority OF which II Is
ss.l,.ed II failed 10 keep.
rSs company agreed TO build one house
4. raiurnb.a for every three lots sold a.
svsrase cost Of 800 and further agreed
Il reserve nifty Of the choicest lots OF
r.saler avenue. the principal thorough
s.rs IA the town, which were 10 be sold
.sthin three years and the proceeds
.auz,sy divided among the purchasers OF
- lots and of the houses. Another
.v-semsnt OF the company was TO donate
- ten religious organizations, agreeing
= srec, suitable church buildings. desir-
~. sites therefore and to donate sites
=, sehooi and educational purposes.
The company was organized, the de-
s.,asnfs say. for the purpose OF building
- saa establishing the town of Column
4, accn cooperative plan for the mu-
.n.l bsaeft OF the purchasers Of the
,rao<ry. Edmlston was the chief or
s,al,e,. owner. controller and operator
n Ire Washington Cooperative Home
csnpany. The Security Savings bank
~ other parties named as his partners.
vtre Ii Il alleged, merely nominal stock
hoders They had no actual interest In
ne companies OF which they appeared
a members and stockholders. Soon after
orxsnization the cooperative company
ABANDONED its plan of constructing and
talldnig UP the town of Columbia and
transferred the property TO the Columbia
Home Company for q nominal consi0era-
ton Of so, 600. when In truth both COM
p4aies were totally insoivent and there
was no real consideration made for the
transfer. Edniston. IL is alleged. knew
OF their insolvency and the transfer was
made for the purpose. II In claimed. OF en-
abllng the cooperative company TO avoid
the conditions OF the agreement made
with the defendants. Later the Columbia
Home Company transferred the property
10 the Security Savings bank, which Is
referred 10 In the answer as a corporation
which has been ''fnsolvent since Its Or
The bank did not pay any
thing of value for the transfer and took
the property subject 10 the rights OF the
The cooperative company and It's sue
cessor have failed to carry out the terms
Of the agreement. Only a few houses
were erected. and consequently there
were no demands by churches and educa-
tionai institutions for sites. The lots
on Rainier avenue were never sold. nor
the proceeds divided among the property
owners OF Columbia. In February. 1881,
Edmiston. who held the title TO the de-
fendants property. covered II with s.. 600
mortgage In favor OF w. III. Hull and a
deed has been executed by the co-opera-
tive company to T.. -. Graves TO tho
property. which casts a cloud on the title
a the defendants.
The defendants say hey have paid 500
o. their property and refuse to make
hf,her payments because all OF the COM
,ahats are insolvent and unable to pay
Of ae HUI mortgage and because a
dsst 10 the property was executed 10
Caves
They claim TO have been injured I'm the
sem OF si,a00 by the defendants and they
claim that sum as counter claim against
any demand that the Washington Coop
eraive Home Company or the Security
Savings bank may have against them
They further pray that the Washington
Cooperative Home Company and the
Security Savings bank be compelled to
pay into the court a sum sufficient TO pay
or the Huh mortgage and that the plain
tns be compelled TO execute them deed
OF the property.