The Portland daily press., 1895-06-14
MRS. PREBLE TESTIFIES.
Continuation OF the Suit Against
Bates and Valley.
HER son TO SELL SECURITIES.

Edward Preble Made Contradictory State
ments on the Stand-The Witress
Sharply Examined.
Boston, June 13-The hearing in the
case of Sarah A. Preble VS. Bates &
VALLEY, was resumed before Judge Colt
in the United States Circuit Court at
$50 this morning, with Edward Preble,
son of the plaintiff on the stand, under
cross-examination by Attorney Samuel
Hoar, counsel for the defendants
The examination proceeded on the same
lines as that of yesterday, it being
shown that much of Mr.. Preble's testi-
mony relative to the use of the bonds and
stocks is contradictory to that given be-
fore the auditor, Clement X. Fay.
His statements on other subjects of ma
terial Importance were also shown to be
altogether different from those given at
the auditors hearing and the former
| trial. He said in explanation, under the
| rigid and sharp questioning, that he did
| not recollect that he made different
! portant facts at these previous hearings,
and if he did, he must have been mistak-
| en-.
| Mrs Preble, the plaintiff, next took the
stand. She is over so years of age and
quite feeble.
She said that in 1875 she went to live
in California for the benefit of her health,
| ~
bridge as custodian of her property
which consisted Of eight Minneapolis
8 per cent bonds, two Chicago and Eas-
tern Illinois bonds, three Oregon Navi-
CATION Company bonds, five Chicago
sewer loan bonds per cent two New
York & New England per cent bonds,
$500 United States bonds $500 Oregon
navigation loan, eight $500 state of
Maine bonds, two bank books on the
Provident Institution for savings, one
Central Pacific bond, one Southern Pa
cific bond and $34O0 Lewis notes.
| In 1876 learning of Mr.. Richardson's s
| Illness she sent her son Edward east to
take charge of the property. Subsequent
| ly she followed to Boston and found her
securities in the vault at 40 State street,
| in tact.
| She disposed of the Lewis notes at a
gain and invested the proceeds in New
| York & New England stock through
Bates & Valley. She authorized num-
Der of other re-investments, all of which
were reported to her as having been en-
acted.
| She said that she never authorized her
son to take any of her securities for spec
nlatiye purposes In 1882 Mr.. Valley came
to her and told her that Edward had
| been arrested
"Wen,' 1 replied, why don't you
go and secure his release at once. There
| is my property; spare none of it. -
| He replied that he guessed the securi-
| tis were all gone because Ned had been
| specializing.
81 was greatly surprised, and went to
| the vault where l found nothing but
few empty envelopes and some securi-
ties which, at the time, were of no
| value -
y "You never authorized your son to take
any of your securities?" was asked
II never did, - Mrs. Preble replied.
"And you never knew that he had tax
en- any of them. y
| 81 never did. "
In reply to Mr.. Morse's questions Mrs.
Preble said that she had spoken to Mr..
Valley about Edward and the securities a
number of times, and he had always Civ
en- her to understand that Edward was
doing all right" and he never told her
that the securities had been used
Mr.. Goes, bookkeepper for Foote &
| French, stock brokers', teStlhed at this
point, that in 1881, four U. S. bonds,
registered in the name of Sarah A.
Preble were disposed of through Foote &
Frenchs office, and the proceeds credited
to Bates q Valley.
Frederick Gates, clerk at the Provident
Institution for Savings, testified that
in the latter part of 1879 the accounts of
Sarah A. Preble and Sarah A Preble,
trustee for Edward Preble, were closed,
the amount due her in each Instance be-
ing drawn by Edward Preble, who was
identified by Bates & VALLEY. The
amount was something over 500.
| At O'Clock an hours recess was taken.
| At the opening of the afternoon session,
Mr.. Hoar took up the cross examination
of Mrs Preble He brought out that
Mrs. Preble had assigned to her son one
of the Minneapolis bonds, the $500 U. S.
bond, the $500 Oregon navigation bond
and the deposit in the Provident Institu-
tion of Savings. This being so, Mr.. Hoar
claims the plaintiff cannot recover them.
The plaintiff in answer to Mr.. Hoar said
she understood her son was in the stock
business. The transfers were written
in and could be negotiated by anybody.
She further said she always gave her son
of what was needed for living expenses.
The prosecution ended at this point.
Mr.. Hoar made the opening address in
which he sustained the defendant claims
The court adjourned at the conclusion
of Mr.. Hoar's remarks, to convene to-
morrow morning
HIT OF THE SEASON.