The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-03-02
PRICE answers COLE.
Ugly Charges Against His Part
Der and Brother-in-iaw.
STORY OF AN ALASKA TRIP.
says While Cole Was In Northern
Coontry, supposedIy ON the
Firms Business, He DIssipated.
Associated With Gamblers and
capped Arrest for EmbesxIe ment.

Lewa Women and Narrowly Es-
T. w. Price answered the charges OF MS
partner and bratser-ln-isw. Flav.us s.
C6se. In the superior court yesterday when
the application far receiver and q re-
strainina order came up Tor hearing TIE
prominence OF the people involved has
made the case one OF the most talked
about In long time.
Price makes the sensational allegations
that Cole was an associate OK lewd women
and gamblers and had been at one time
threatened with arrest for emoezzienent.
Price goes into details OF the business OPP
erations CT the firm and il not sparins IN
the counter charges be brings against els
erstwnlie partner.
In his sworn statement Mr. Price sale
tina: be IL the brother-irI-Iaw Of F'.avias 3.
Cole. About 1850 Coles father died I'm Iowa.
leaving the son property valued al sao5.0oo.
From 1873 10 the fall OF iss2 Cole lived at
Grundy Center. Ia. During The same period
Cole managed his business so that the es-
tate left him was reduced 20 10000.
Price says that he was himself ensag-
ID In banking 81 Dewitt. Ia, from 1876
TO 1ssi. During the last-une Mentioned year
he visited Washington and returned to
Iowa for the purpose Of getting his per
0onai effects and bringing them TO Wash
kagt0n. Price settled in Seattle in April,
l3o2. Before making Seattle his home.
Co.e snr sted that ne and Price form a
partnership 10 carry on a genera. broker
age business and Investment business. The
result was a partnership consisting OF
Co.s. Price, John d. Riley and j. r. K icy.
the corporate name being the Puget Sound
Bond and Trust Company. Cole closed out
his business tn Iowa and moved 10 Seattle
with his family In October 1882
The buainens OF the corporation proved
profitable. according to Price, and II was
deemed advisable 10 open a New York Of
nee. Price went there and located. He
remained there until 1885, when he and Csc.
according TO the affidavit, Withdrew from
the corporation and formed a partnership
to carry or general brokerage and in
vcstmens business.
Total Sum Contributed.
In answering Coles statement that he
price) was to pu; up a certain sum OF
money but probably did not. Price says
that = did no; agrees to pay any particu-
lar sum. but that he said he thought he
would - able to contribute $1,000. Cole.
according to Price. said he thought he
would - Ahie 10 put up approximately $780,
0Oo. PvtoA Gays that he did contribute and
pay inie the partnership, not less than
Nl.eee Csc. he says. paid not more than
No.eoo. ~ total sum being contributed i'm
different 6slallments. Price claims how
ever. tat while Cole was paying into the
Arm t1p.Se he drew out large sums OF
money, which Price believes 10 be more
than ee.ooo He says he cannot give more
definite figures because the receiver has
al the aco3unt books.
Price asSess that II was understood that
they werS to share equally profits and
losses. Hs alleges that the profits from
May ., lsAs. 20 tho latter part OF August,
1884 were $1,000,
In Augun. 1884. according to Price. Cole
manifested a strong desire to engage In
the eat business. Price says he told Cole
that he knew nothing about the business
and WAS averse to having anything 20 do
with It. Cole. according 10 Price. said he
was we'll acquainted with farm products
and finally persuaded Price 70 allow the
s.s. Cole T. fu aSar s 81 ,ss
department. investing about $50 40 In
etead o. purchasing hrst class oats SAYS
Price, Cole bought large quantity Of
Uusty ard unclaimed oats. which the part
nershfp was compelled TO sell at loss ex-
seeding $4,000.
In the summer of 1924 according TO Price
che partnership invested s., 90 In develop
nnent work In the Carbon mining district
IN the fall Of 1874 the mines were turned
over tn new corporation. whereupon Price
refused 10 have anything more 10 do with
Sh~ enterprise. Cole. he says. had great
fash in the mines, and against his earnest
protest continued In the organiza .on. In
90 doing, Cole withdrew. Price says, he
tween sl5.ooe and 81 coo from the partner
veteprent of the mines, which proved
worthless
Price sayx in regard 10 the allegation thst
transactions were made u his own name,
that II was mutually understood that ow-
Ing 10 hls know~ldge OF nego satie paper.
he WAS 20 have the principal management
~ the business. ana IN order 10 IA il!tate
the transfer and handling OF securities t.
Vas agreed that securities should be taken
In the name ~ Price The same under
standing existed as 70 real estate IL Ia n.
tAaw- D. .s4 -.
no matter whether III his lame or ths, part
nership, were kept I'm box fo which Cole
osd Key Rs we'll "a he. ~ all times
DOWN to the commencement OF this action.
Price says that coke had access 20 the
books, in Fac; made extracts from them
And kept private SEA showing his trans
actions with the partnership,
stock That Was pledged.
He explained that the Novelty mill
stock MAS ascd9ed "a n Dewitt bank 10
eeenrs the payment Of notes amounting
10 about Si..aa This stock reuna nrsi
pledged un'n Isss when the partnership
rsli stock. the stock u the f.um3ernea =
IoGgns Company. which stock s.sli re-
mains as security With the bank Price
ssss that th- !ags'ug company owns large
amounts If timber Land IN snohon a
ekagit AMI King counties the stanepa ge
being estimated ~ 2 a. 20 feet Pee
Gays thar csls knew all shoaf the pledg-
kg OF the logging r0upang's etork and
that be gave his consent Price also says
that the stock standing In Coles name.
wac, in The niA{u, Assigned IN Goes essss
handwriting A Few shares we're lnAorresi
ever by Prize, hu thai s>o5e Afterwards
gave : written statement 90 she hanks
ratifstng ana lndars.ng the at 81 pgscs,
Price zys that after the Nsveifv NJ,
Company stock ~aS TafNsnad - Seattle
~ turned il nve~ - t'clt. $40 borrowed
Gan from the siFf4nds County National
bank 80 Ssruusy Center fowa. ass1n the
Endorsement - Isman Co,e p-l~e xsv7
that Cole r,ecgsa isG shares err Sic g.ss
worth ef stocs vlth feya,An seia a. tusurs
hirn ssssnS; lH.z ee1 tfe in3arssssstrnt In
August tSs tsvnsam Hro'e tsFrwte.a4 TO
sue. whsyeuraa Price. according $50 hts
stery. male Arrangements ~ ia tnv safe
bank o. Shelton - AcrTuw 3 esn upoa the
pa-tncT~h > 80 tasA aGa sTfv~ PITY
shares ~ Nsvs.ty stock were Pledged N,sh
tns s>ssslscn bank. wAscn fVgtsifrA ere
unii the a3sssale 80 n~aeEn9~~ lss - aer.
Prs teCk ~ fbe aos< - Csc grs fs..s-z
ana save Ms snAw;3,1al ro'e instead asa
i~ft TO ste~tk ~ secVsrlfv frsce sa ys
that s'sse xns tne ctnsr Sfsv ssiafs< -
Stuck pied xss3 sttH f-snRn t,eie Anc;Ae-
nftf ssssre@ #eesf taS - fSfTC. tara q i. :
WIZ lyman Sele asst. 1encss1 ee~ .sy7
- frsNfa a.-s D.. "a ~1..ss