The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-12-29

OFFER or sIs2. 900 scoRnED.
=. r. vseIe ana Whittier, Fuller =
O., CIaio That Harold Preston,
The Trustee SD Alss Aaatsisssa-
tor Of n. a. r. Carter Estate, In
Assespting - Freese Then Ose-
Their Allegatfons nidscsie1.


which from the time It's foundations were
laid upon the aafsee Of the great Seattle
fire. Of t5ss unfE less than three years ago.
Nas the sossrce OF lawsuit after lawsuit
was swain brought into court yesterday.
this time III nsznaaTnsA siLts
The power of the superior court is i'm
yohed 10 compel Attorney Harold Pres
ton. Ia whose name, as trustee. the title
q the building glands. TO sell II for Sls.."e.
The applicants for the writ Of Esanease
are certain Of the creditors OF the deflnct
Seattle National Bank Building Company
whose Claims are secured under tns trust
need to Mr.. Preston. They al.ege that the
1Atts< is attempting. b. breach OF trust
a&resment. 10 defeat sale which would
result In the payment OF their claims and
that they viii suffer irreparabie damage
unless the Law interfereA
The proposed purchases OF The property.
which In considered 10 be worth more tnan
eDD0CD. In Lyman c. Smith. wealthy New
York capitalist. who has already made
heavy Investments IN Seattle real estate
and who Ia being represented ia the neso-
tsations for The purchase of the hank
building by elise r. King, his Seattle
lawyers Yesterday the latter tempted
Mr. Preston In vain with = certified check
for tiaz.00. insisted In fact that he should
ACCEPT IL aud make a deed to the property
Ia Mr. Smith But Mr.. Preston was obda-
rate.
That's very nice little check" he IL
reported to have said with aggravating
ca;mneps, but haven't any use for such
a small ann Of money" Then be was
mandSmusesi
There Is long story behind the tender
OF the big check and Its refusal. In the
first rEace Mr.. Preston In the administrator
of the Seattle estate of III. A. II. Carter.
u once wealthy resident OF Hawaii, who
ut the time OF his death. several years
ago, was deeply interested in Seattle. His
estate had a large sum Of money In
vested In the bank building and AZ the
story goes lost great deal OF II when
the courts. few years ago. barred out
the e1sp.o00 mortgage of the bondholders.
Ut whom the estate WAS one. as first
lien against the property. This estate
had another large claim. however, and
whom at last the property was sold on
ome n. JsSS, under the courts order after
= long receiYsrship. Administrator Preston
bought It In for SOS ~ as the represen-
tative or the estate for 81. 4s2 r. the Cor
don Hardware Company for a7i7,i2; Wait
tier Fuller T. Co. for G.31.is: Burke.
shepard Il Woois, for sl4s.0s: II. NJ.
vteie. u l6s.6: Seattle National bank, So
Ssa4S: s3tratton, Levi. Gilman and
Arthur Il. Griffin. saseis.
After the sale Mr.. Preston made an
agreement with the persons interested in
his trust whereby he was to hold the prop
erty as trustee until by a sale of IL he
should be- able to pay all the claims in
full. at which time II should be bis duty
% sell and divide the proceeds. Since that
time Mr.. Preston has managed the build
ing, collected for the Use OF the Carter
estate the income from rents. etc.
The plaintiffs in the suit are yieie and
grounds for the issuance OF a wit OF man
date that they have succeeded In obtain
Ing Mr.. Smith to purchase the property
for tis2.a0o. and that this Sum Is Sufficient
TO pay all claims In fun Therefore. they
assert. Mr. Preston has no option to res
fuse the tender made by Mr.. Smith. Yet
he has not only done So they aliege but
las also refused to make any statement as
20 what amount win be sufficient 20 Fay
all cls.ms, which amount SIR. Smith would
BE- quite willing 10 pay.
Upon the showing made Ia Vlsie's AMI
davit. which sets up the facts stated, Judge
Moore yesterday granted an alternative
writ Of mandamus returnahle on Friday
afternoon at la o'clock.
Mr.. Preston admits that he was rendered
the money and tina, he refused II. He tells
of another tender which ne SAYS ne himself
made. and which Is not mentioned In the
complaint. He says that he yesterday Of
fersd 10 pay In fun and upon demand a.,
cialuss OF the persons interested In HIS trust
ether than that % himself as adsninls,rs-
ser That he saya. dssposeS Of the claim 81
Whittier. Fuller X 40. and Visis. that un~
less he sale IA made 20 aus'ta they may
lese their money hy never getEiag another
epportnnlty 70 sell the building
This claim is urged by t-ise & King.
who point 10 the fact tsat after June 81
3Asa under the terms 81 the trust agree
ment. Mir. Preston Ia free 20 w'il the build
ins for any price he CHOOSES 20 accept sf-
Ter giving notice &c the persons interest
81 IN the trust Smiths lawyers claim
tals provision gives ar. Preston an az
cel}ent opportunity Of freezing eut AL
other claimants than the Garter estate
Mr. Preston sniiss At thls claim. Ha
says that ne viii ~fli the huiifiHg ana
l. In fact now negotiating - sesi g.. hu,
that Ae vii ges more than slsSe0 snd
that the ether claimants will &c. taess
money With interest then = ,hSv refuse q
Accept T. now
ia addition 70 SAYS that y mandamus
salt against him Is entirely irregular
rlNAT. OErprr STGNr0