Morris tribune., 1897-03-31
DISTRICT COURT.
A Somewhat of a Sensational
Closing Witnessed last
Week.

SONAo SAVSVSA Ac1eAAOA 0OAuPt4y Civ WA1OA
" unexpectedly in results. The case
of The Travellers Insurance Co. vs.
L. G. Spooner was on trial when We
went to press last week and was at.
tracing more than unusual interest
for the reason that it reverted back tC
the early days of Morris in the time
of building the Morris hotel, A his
tory of the case is, first, parties
have always claimed, and has
been given, by the public spirited
people of Morris interested in the
welfare of the town, credit of giving
Morris a frst-class hotel, but the
dramatic ending of the above trial
put before the people of Morris the
true history of how the hotel was
built and at whose credit, which was
this:
In the spring of 1889 the First
National Bank was controlled by
Darlington Phelps, Henry S, Judson,
F. A. Rising and The Travellers In
surance Co. and was not in the best
of shape. It's upper story was I'M
occupied. The Agency building next
to it was in the same fix, on which
was a $1,000 mortgage held by the
Travellers and was liable to come on
their hands as dead property The
location of the bank was away from
the business center of the town and
something must be done to revive their
business, With this object in view
Phelps and Judson arranged with W.
B. Hancock to prepare plans and
specifications for a hotel to cost $50,
600, which should include the use of
the Agency building. This plan
they unfoIded to their partner, The
Travellers Insurance Co. to whom
they sent what was denominated
Perspective of Hotel scheme Morris
Mimi
In this Perspective" the attention
of the Travellers was called to the ne
cessity of building the hotel in order
to bring the Morris business center
nearer to the failing First National
Bank and also in order to save the
Agency building from becoming a
dead loss, and still other reasons.
The Travellers responded promptly
by sending c. G. Munyan to confer
with Phelps and Judson and to con-
slider the plan submitted by Hancock.
Munyan's testimony shows that he
was here to look after the matter in
April, 1889; though singularly, he
swore that, although he came from
Hartford to see about making a $40,
600 loan to w. B. Hancock on the
proposed hotel, he never saw or spoke
to Mr.. Hancock about the matter; yet
Mr.. Hancock testified that he met
Munyan and agreed with him for a
$4,000 loan on conditions that when
completed he should turn the hotel
over to the bank as the Travellers
agent, etc. Further his testimony
shows that he advised the Travellers
to advance Mr.. Hancock the $40, 600,
providing Mr. Hancock's note
should be endorsed by Mr.. Spooner.
The next step the Travellers referred
the matter to Mr. Rising for further
and completion of the
project.
On the 10Th of May, 1889, Rising
Mr.. Spooner about en-
dorsing Hancock note. and also about
him a second loan on the
property of $1,000. Mr.. Spooner was
not interested in the bank, but did
feel interested in seeing that Morris
had first class hotel. Rising closed
his appeal to Spooner by expressing
a hope that Mr.. Spooner would aid
the scheme to build hotel as much |
as he could, and after considering
the matter a few days Mr.. Spooner
wrote Mr.. Rising agreeing to endorse
Hancock's note for $4,000 and to
loan Mr.. Hancock an additional 81
600 (Spooner supposing at the time
the construction of the proposed
hotel was really business venture of
Mr.. Hancock's), provided the
Travellers would undertake to see
that the $4,000 note should be Sc
cured by first mortgage on the COM
pleted hotel property and executed
so as to hold all the rents and earn
ings of the hotel for the $40 900 note
and the $1,000 note, and that as the
agent of the Travellers the bank should
take charge of the property, collect
all rents, etc.
n. AZ 104L oc T,.ua 1000 NH-