The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-10-03
IVES HITS THEM AGAIN.
MAKES CH4RGES or COLLTsION
STRONGER THiN BEFORE.
His Story of How Willard. Cromwell
and RoIston Conferred and Named
the Receivers.

In his supplemental AFFIDAVIT fled yes
terday President Brayton Ives AYERS that
in July, 1893. william Nelson Cromwell
applied to Henry Stanton. assistant 10
the then general counsel OF the Northern
Pacific. and informed him that ne (Crom-
welD had been retained by Henry Willard,
who was then the chairman Of the board
of directors OF the company. 10 begin pro-
ceedtngs to have a receiver appointed for
the property. Willard, I. IS said. had ar
ranged 10 have Henry c. Payne. OF Nil
waukee. an employe OF Willard. appointed
receiver. and requested Stanton to fur
nish him with certain Information in re-
spect to the company usual and neces-
sary 10 be stated in bills in equity. pray
ing for the appointment Of receivers Of
railroad companies.
Ives further AYERS that Cromwell, with
the assistance Of the counsel Tor the
Northern Pacific. prepared a bill in equity
10 be filed in the court for the eastern
district of Wisconsin. in which bill one
GustaYe Ulbricht, d clerk in the employ
Of Willard, was sole complainant de-
scribing himself as the owner Of bonds
and stock Of the Northern Pacific. but il is
charged that whatever stock of the COM
pany stood ia his name. and whatever
bonds were in his possession, were the
property OF Willard. The Ulbricnt bill,
continues the affidavit. contained sub
stantially the same avermentS as the bill
in equity afterwards filed in the cause,
wherein the Farmers Loan & Trust Com
pany. Z. 3. Winston ct al, were plain
tiffs. known as the Winston bill, except
that UIbricht did not describe himself TO
be a creditor of the company except
the holder Of its bonds. About July 20,
1898. the bill in equity, 1t is said was
sent 10 Chicago in charge OF w. j. Cur
It's, a partner of Cromwell, and one or
more counsel for the railroad company
and Uibricht. the nominal complainant,
for the purpose of filing II in the circuit
court for the eastern district Of WiscCn-
SIN. 1t IS charged that they We're there
met by Payne and that frequent consul
tations were had between them.
Ives is further informed that about the
time the Ulbricht bill was prepared
Thomas r. cakes, then president Of the
railroad, was informed that the prepara-
ton OF the bill had been commenced.
Thereupon. inasmuch as the consent of
the company was necessary to secure the
prompt appointment of receivers, he is
claimed to have demanded that the coun-
sci for the company should not consent
10 the appointment Of Payne as sole re-
ceiver. hut should insist upon the APP
polntment of himself as receiver. or as
receiver Jointly with Payne. Willard, the
affidavit states. refused 10 agree 10 the
appointment Of Cakes but insisted that
Payne should be made sole receiver as
previously arranged by him. Thereupon.
Ives says, much discussion ensued, and
Cakes appealed TO Roswell G. ROlston, who
was one of the directors of the Northern
Pacific and chairman of the finance COM
mittee and who was also president of
the Farmers Loan and Trust Company,
the trustee in about twenty or more diff
ferent mortgages. interest on which was
provided by the Northern Pacific and up
on which default was expected 10 be
made. 20 insist upon the appointment of
Cakes as receiver or as one Of the re-
ceivers of the Northern Pacific. When
that had been done. the affidavit con-
tinues Rolston did demand OF Willard
that Cakes be appointed receiver or one
OF the receivers of the company. After
wards IL is said, Charles l.. Colby and
Colgate Hoyt, directors Of the Northern
Pacific were informed that a bill for the
appolntuent of receivers was in course
OF preparation, and they also demanded
representation ~ the receivership by the
appointment OF Colby as one of the re-
ceivers.
During all the time that Curtis, Payne.
Ulbricht and others were in Chicago
awaiting the final directions to file the bill
negotiations are said To have been
continued hy Willard for the APP
vointment Of Payne in his inter-
est. nv Rolston for the appoint
ment Of said cakes in his interest. and by
colby and Hoyt for the appointment OF
colby i'm their interest and during that
time Willard and Cromwell correspondent
frequently with Curtis and Payne. for the
purpose of securing the appointment 81
PAYNE as Sole receiver. while. on the other
hand. cakes, Rolston, Colby and Hoyt
. correspondent with the counsel for the
railroad for the purpose Of securing the
aruotrtrreut Of cakes and Colby as re-
. ccivers either alone or Jointly with said
Pavnc untH finally. about August !. 1913.
B no agreement having been reached Curtis,
Tlhricht and counsel for the railroad we're
directed 10 return 20 New York. and they
did so rcturn without having fled the bill.
Ives IS further informed that the pro-
ceedinvs were not then made known 20
tho board Of directors Of the Northern Pa
ci5c and AYERS that AZ a meeting Of tho
board held August I no action was taken
+ I'm reference 70 the reCeiVership, and that
. there were no minutes OF any Information
+ given or action taken by the board in re-
4 lation to that subject The negotiations
ny Willard ms &C one part hy Cakes and
. Rclstoa rs ~ another part. and hy Colby
ard Hoyt as - the third 0art. the aida
viz states were continued at different
times. until o0 August Il. three meetings
were held. ~ which the subject ~ the per-
sons to Pee appointed receivers vas again
discussed. ard az one err more Cf tho meet
tr2s were present Nilla ~ oDI Cromwell
f fu che interest 90 tiiiari Vcf % secure Tho
. appointment of Payne in his interest.
. Cakes ana Ro}stau 90 secure the aupofut-
. sraut ~ 6eke~- aua colby anf Hoyt 70 SCI
sure THE appointment OF Colby
AZ che last ~ TIE meetings. Ives saws. g.
. VAS H0a'lv acroet by counsel rep~csartlac
. The Farmers Loan ara Tr'Isr Company.
WIZARD arH the Northern Pariq~. that
Colby ana ftevt shrgl5 no represented in
. the rerefvership bv Horny =. Rouse. that
Willard should consent n tha appointment
. ~ Rouse ana cakes. aU3 tNat s7sf Cakes
Eol~tH@. Colby and Howe srcui3 consent
SO the appointment az Payne. Tbereupar
. the afftaNit continues. counsel f-~ tra
. northern Pacific vas notified ny telegraph
. ana ere ttl known IS the Winston hiu Vas
.r rne next Gay Hiea
~