Evening journal., 1899-06-02

curity be better if I had the Union Bank
loan, too?"
The answer was Undoubtedly it
would. because you would have practically
all of the liability, and all of the collat-
erals in your own hands; but the bank
doesn't need the money nov and it can
be paid off at any time"
Ford then said: We'll, 1 don't like the
idea Of that s. Of D., Pres. Lea, be-
ing in there on the ground floor some
where. I've got the money to take it up
and would rather do it. Six per cent. is
as good to me as to them fellows
We went direct to our attorney, Lewis
c. Vandegrift, ESQ., and told him that
Ford proposed to not only go on the $4,000
bond, but to carry the Union Bank loan.
Mr.. Vandegrift advised against disturbing
the bank loan. We told him that it was
Fords desire to take it, that Ford was
our friend, and that we thought he ought
to have it il he desired it. Mr.. Vandegrift
then agreed to prepare the papers. In our
desire to make Ford feel comfortable in
his investment we gave him, in addition
to the mortgages, $4,000 Of the company's S
bonds, 800 shares of its stock, 100 shares
of New Castle Electric Railway stock,
some personal collateras and offered him
the presidency of the corporation so long
as we were liable to him.
Ford stated that he wanted Mr.. Vande-
grift to act for him as well as for us in
closing up the matter. Mr.. Vandegrift
declined and said that Ford had his own
attorney. After much solicitation and
persuasion by ourselves and Ford, Mr..
Vandegrift reluctantly consented to act
for all. We told Mr.. Vandegrift to make
Mr. Ford as safe as he knew how, and
how well Mr.. Vandegrift knew his bus-
ness is attested by the tightness Of Ford's
grip when he got us by the throat
The papers were executed and the
Union Bank was paid off on the afternoon
Of April g.
j The very same afternoon we received a
message TO the effect that Ford wanted
some OF the block Of stock he held trans
/ ferred to Peter A. Horty. We made the
point that that block of stock was held
as collateral for the payment of certain
u obligations, and that it could not properly
3 be separated from said obligation. and
the agreements thereto, but that we had
no objection to making Mr.. Horty q
stockholder, and if it was desired W,
would place other stock in Mr.. Horty'l
r name
q
was the general impression that he hat
b gone into the newspaper business, ant
/ that he had a business reputation a
e stake and thought the paper ought t.
% get up a boom. Ford outlined a number
Of improvements he thought advisable
t and was told that they could not be made
T without capital. Ford proposed to furnisl
all the capital needed to put his plan
t through and, after several days Of con
% sultation. on Thursday afternoon, May 4
we left Ford. after a talk with himsel
, and his attorney, II. H. Ward Esq. viii
r a definite understanding that we woul'
8 go ahead, make Ford president, let For'
/ name director and that we were to se
d Ford the next day (Friday) and close III
n details
10 Friday came and, without an intima
Il tion from any source, Sheriff Taylo
- came in and closed the place. and, s
= eager was Ford to get possession Of hi
n new toy, by which he expected Ito max
l. men and break men" that he had not de
Il oency enough to wait until the current is
e sue Of the paper was Off, but peremptoril
d insisted that his attorney should act a
D. once, and it was only through the forbear
|, ance of his attorney. II. H. Ward, Esq
. that we were permitted to print a pape
" at all on May 5.
e We called up our attorney, Lewis
Y. Vandegrift and informed him of Ford
d action Mr.. Vandegrift was astounde'
IS and insisted that we must be mistaken
d that it could not be. We told him thel
ie was no mistake; that Sheriff Taylor wa
Of at that moment making the levy. NJ
J. Vandegrift suggested that we see Fol-
al at once. We could not reach Ford. "
got Ford's attorney II. II. Ward, ESQ., {
he the phone; he knew nothing-had bee
ut out of town that day, and on his retu
got orders to enter the bond forthwit
< levy and close the place Ford's attorn'
r made an engagement with MS for tn
ne evening; after a long interview, Mr.. Wa
was impressed with the necessity OF 1
Id immediate adjustment of the difficult
e. and called Ford on the phone, stated tn