The Portland daily press., 1896-07-11

Large Assets Found In The First National
Bank-Judge Peabody Appoints Three
Executors in Place of the Three De-
ceased
The legal fraternity are deeply inter
ested In one of the most curious wills
that was ever probated in Portland The
late Hon. f. 0. J. Smith, it will be re-
membered. died 20 years ago, in October
1876. This will, after making q number
of requests. left the residue of the estate
to establish "A Home Tor Aged Coup
les. Judge Webb, Hon. Darius Ingraham
and Judge Goddard were named
as executors, but the tive former
declined to serve and, by authority
vested in the Judge of Probate, Judge
Waterman and Daniel Fessenden were
appointed In their places.
The late Mr. Smith was, as is we'll
known, ot.the greatest public service in
connection with MIR. Cornell of New
York, In the Introduction of the Morse
electric telegraph, which owed much of
it's success to his labor. He was instru-
mental in establishing the Portland Gas
Company, the York & Cumberland and
Portland & Oxford Central railroads, the
latter road having been mainly built
by him. He was in Congress as Wing
for some six years, and was man of
no mean ability as may be judged from
the brief sketch we have given of him.
A great many people believed that Mr..
Smith was very rich man, while many
Others did not think that he had large
means at his command, but that he had
rights In the telegraph system that
would eventually pan out very hand
some fortune.
The executors started in to ascertain
what property MIR. Smith had left. Like
good and careful men they endeavored to
get out Of the property everything of
value that there was. The crsditoIs of
the estate, and they were quite numer-
Gus, filed their claims, and these were con-
sidered, some of them being approved
and others failing of approval. Time
passed ON in the settlement of the estate.
The three executors died, one after the
other, Judge Waterman being the last
survivor, the event occurring not very
long ago.
Recently q gentleman in conversation
with Mr.. Irving W. Parker, the lawyer,
casually mentioned that he understood
that there was a large sum Of money be-
longing to the Smith estate, deposited in
the First National bank. Now it hap.
pens that Mr.. Irving W. Parker claims
to be creditor of the Smith estate and
to represent other creditors to the amount
Of several thousand dollars. When the
last account of the executors was filed
they were able to declare a dividend of
about 40 per cent on the claims allowed
by them. The largest claim approved
was that of Mr.. Wood. said to be a broth
former member of Congress from this
city, and it is supposed that MIR. Woods
claim was for assistance rendered in the
telegraph business. However that might
be there appeared S27. 90l, the approved
claim of Mr.. Wood. Mr.. Parker
thought the amount was about 1913, :
900 that has been accommodating In the
bank, as the bank officers have doubtless
allowed the usual interest on deposits.
He secured thes service ofsMr. Dennis
Meaher, and petition was presented to
the, Judge of Probate, stating that the
executors had all deceased, it was de-
sirable, in the interest of the creditors
| that Mr.. Meaher represented, that the
| judgeshould appoin three executors as
he was empowered to do SO under the
will of Mr.. Smith.
A hearing was had at which all parties
interested were present. 1t was desired
by some of the parties that ex-Gov.
| Robie, president of the bank, be one OF
| the new executors. This appointment
| was com batted by Mr.. Meaher, and final
ly the judge appointed Hon. M. P.
frank, Dennis A. Meaher and Josiah
II. Urummond, Jr., as the executors.
Hon. M. P. Frank was seen last eve
ming. He said that when the former ex.
eoutors had thoroughly Investigated the
condition Of the estate they found it in
solvent. They then notified creditors te
| file their claims. A number did not
l
passed upon by the commissioners, al
| though approved, before the estate wal
| closed. Mr.. Parker and several othe,
creditors were included in the mum Der
They therefore never received any Of
the percentage allowed by the commits
sioners. 1t was therefore in order fol-
them if any new assets were discovered
to make application for payment out O
the newly discovered assets. After Mr.
Frank was appointed EXECUTOR few
days ago-he went into the First Nation
al bank TO ascertain what amount wa
left there SO as to get an idea as t.
what bonds would be REQUIRED OF him
He saw Cashier Wengren and asked hin
the amount. MIR. Wengren said Their
were two drafts deposited in the banI
each for something over 81, 600, making
lShe deposit amount to nearly 500, 900
Mr.. Frank said he suppose d the bank
Us was customary with banks in tn
case OF large deposits, would allow tn
usual percentage of interest which il
that case would swell the total deposi