The Providence news. (Providence [R.I.]) 1891-1906, 1898-11-29
II Seeks 10 Show That Mr.. Banlgaa Was
Dlsloyal 10 the U. S. Rubber Company.
NEGLECTED. COMpANYS INTERESTS.
Charge Mads by Counsel for the Defendant
Strong Presentation Of The Plaintiffs Side
By Mr.. TayIOr--WlII Submit Brief.

Closing arguments were made today
in the suit Of the late Joseph Banigan
against the United States Rubber Com
pany to recover $4,000 FOR his salary
for the last year he served as president
of the big trust. The arguments were
of very interesting nature and the
merits OF each side of the case were
tersely but strongly dealt with.
In regard to the testimony of William
M. WINS, a special supplemental brief
was filed in behalf OF the defendant
company. Mr.. Banigan testified I'm rela-
tion TO his visit to Europe In the sum
mer of 1898 that "Mr Flint wanted me
TO go earlier that l might assist them
in borrowing money In Europe-in
London. / could not go earlier: SO they
employed and sent Mr.. William NJ
WINS for that purpose, with the UNDER
standing that i should follow after him
and give him such assistance as
could in borrowing the money; also for
the purpose OF arranging for the pur-
chase of African sorts of rubber as it
all, or nearly all, arrives in Europe and
is shipped from there to the United
States, Against this the testimony of
Mr.. Ivihs was quoted to show Mr. Ban
igan had gone to Europe at this time
simply for pleasure.
The points made were that Mr.. WINS
was sent to Europe under the direct
authority of Mr. Banigan and not. as
he implies, under the employment of
lher directors of the United States
Rubber company. letter to Mr.. WINS
from Mr.. Banigan himself is conclusive
on this point Nothing, IL is claimed,
is said in this letter as to Mr.. Banigan
being about to join Mr.. WINS to render
inn "a htlf fin n NJ wv a
| given to Mr.. WINS to negotiate a loan
subject TO cable acceptance by the COM
pany. IL is submitted that the testi-
mony of Mr.. WINS sustained by cer-
tain cablegrams shows that Mr.. Bani-
gan was in no way instrumental in eff
fectipg this loan, but was merely in
troduced TO Mr.. Kleinwort as the presi-
dent of the company in view of his hap
pening to be in London at the time.
The most important feature OF Mr..
WINS testimony the defendant submits
is the disloyalty which he shows that
Mr.. Banigan displayed towards the
company OF which he was president.
Attention Is called to two cablegrams,
one dated August l, 1893, addressed to
Mr.. WINS. in which the request is made,
Have Joseph Banigan telegraph Cook;
give all the assistance you possibly
can" and one dated August II, ad-
dressed TO Mr.. Banigan. saying:
"Wire at once Cook assist to amount
| 500. 0C0" requests referring to the
Woonsocket Rubber company, through
Mr.. Cook, it's treasurer, assisting tho
United States Rubber company. Yet
though IL appears by Mr.. Cooks testi-
mony that at this critical time the
Woonsocket Rubber company probably
had several hundred thousand dollars
belonging TO Mr.. Banigan on deposit,
he made no response to these cable
grams and did not cause any assist
ance to be given. Testimony is referred
TO to the effect that, while the execu-
tive committee was ready and willing
TO incur personal obligations to give
as collateral it's own stock, and TO loan
its own money directly. in order to help
the United States Rubber company. Mr.
Banigan would not lift a finger in it's
aid and would not even authorize the
Woonsocket Rubber company to furnish
assistance. on the contrary, that it
seemed to the defendant Mr..
Banigan's real interest seems 10 have
been to take advantage of the situation
and allow the United States Rubber
company to fail i'm the expectation that
he might get his property back.
william c. Rocker, counsel for the
defendant company said there had been
no salary fixed for the year sued for,
and that Mr.. Banigan was bound To
take NIat was dilONtu nllii lOi eil' idre
year. $4,000. AS to the question on
paying for the services as rendered Mr..
Rocker called attention to the sale OF
his stock by Mr.. Banigan, TO the alleged
dsloyalty displayed and the neglect OF
the interest of the company he was
president Of. the last year especially.
Mr.. Bangan, counsel said, II was adj
nitted. was one of the ablest men
the state of Rhode Island had ever pro-
duced. and the questions was: Had hs
served stockholders single handed?
Had he put their interests above his
own. or had he pursued that avaricious
and grabbing plan by which he had ac-
cumulated his big fortune? Mr.. Roel-
ker rdiculed the claim that Mr.. Bani-
gan made big profit out Of the sale
of crude rubber. and said that now the
shadow Of his opposition had disappear
ed. the defendant company's stockhold-
ers were realizing the prosperity that
Mr. Banigan had promised but did not
bring the company. Reference was
made to what Mr.. Rocker termed the
charming habit OF Mr.. Banigan's OF
making the woonsocket company pay
interest on whatever amount he saw
ft.