The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-02-16

N. partnership affairs Of r 8 co.e ard
Wv prSce. brokers and genera anan-
r~z well kn0an sn seatt.e, ara 10 De
ssr>3 N the superior court
fs,s eorrnaaeaa 2 action yesterday at
.-ooou for ar accounting and sszsosdtloss
- narssofghip J. ". pYcs. Magic p
pv.ar asa the f>afaterfn@r's Logging Com
ssny AZ. nArTaea as 1efeaiianss
rcss Accuses Price Of falss and fraudulent
srxseen.AaloIs regarding PARTNERSHIP grop-
s-fy. ard says that I'f3ce nass ev5nrea Ias
ssxn Of cheating barn out Of nis interest
4. tns bushes, T'fis SUI waS brought ~
pYaeon Carr & Gilman ami DouHarto Il
fsovs for Coie who has recently returned
s.su ths East.
According 70 Gees complaint n entered
.sto partnership with Mr Price by verbal
agreement May j. 1880. for the purpose o.
carrying OK a general Brokerage ard IN
ysssnssBt Sssszanes@ 1t Was agreed that
sasy Should share equally profits and loszeS.
so 9efiniss time ~as Set for tie c0at.n;g-
ance Of the partnership. Pr.ce was 70 esn-
tribute fis aa0 3It tae means ana property
hs then had ard Cole was 10 contribute
tse amount 81 nSney ne then bad and such
farther sasEas as should tre mutually agreed
Upon. Cole claims that he wax worth over
xN SO FIRST he put up &G.sa. and after
yard contributed additional Sums amount
ing 10 a; least SO 90, making his total con-
trlnatsoa 10 the partnership 5000 or over.
Cole says he cannot state the amount ~
money contributed by Price. but that he
alleges o. belief and insoTma ton that he
cd not pay in the fun sum OF Si5.gsA
Management Entrusted to Price
According 10 Cole's allegation, the man
ageEneat has been iner9sted TO Price. VINO
has bad IL IS claimed. almost exclusive
,eoatroi Of The a1aire OF the partnersh!o
The trangantIons nave been numerous and
have involved large amountS The books,
accounts and al property except two cer-
tsfes'es % the Union Electric Company
far atty shares each. are alleged 10 be in
Press possession.
Large sumo of money ont of the funds
OF the partnership We're invested. Cole says
by Price IN .o5ns stocks aud personal
property. large proportion OF which was
taken tn the sole name OF Price. bat in
trust for the partnership Cole claims that
un property so purchased Is in justice aud
saaay part " the partnership assets.
Cole names the following among other
ssseu Two hundred shares Novelty A.1
Company, 2Ip shares Atlas Lumber Com
Tfy, shares humber unknown IN Cleo
raira Mining Company. shares tnaraher
ansnown) In falrvitw Mining Company
SHARES tnuinlser UNKNOWN In Slough Creek
tfIe Company. number electric l,s.At bonds
or Port Angeles. number 90 city. county.
s'S2ol aud stale warrants exceeding s2.1sso
Ksuhsiake contract with George Poison.
representing claims tn Alaska: prom4ssory
aote OF Pert Townsend Electric Company
sNm also many notes. mort cages ard
fssl estate Ia skasylt AMI SnohoInlsh coun-
4 tee. Cole snys the partnership Is the
oaner OF other real estate and perso.a al
Property Of which he f. unable 10 give any
description although IL wsiss purchased by
Price cut Of partnership money
Held Timber Lands.
the LImaerusn's f-ogs.Rg Company
vas organized, Cole says. by himself ana
Priee. for the purpose of ho.d,aE title TO
timber lands. The par value Ct the stock
Is 5000. part al ghtra stock was issued
10 Cole and part 10 Price Cola was, PRS -
iaent and Price yice president john Pea
sef was secretary. b7a according 10 Cole
whatever stock he held VAS ssuspay in
Trust for mo Coie-f'rtco partnership. the
hgsing company being merely an orEan.-
sAtsea Of convenience, and nothing more
than part Of tha p4rtnershin The lands
alleged TO - he'd ga the name 81 the log
tag company ate IN SkaEit and SnoHts~
nssh counties A descr pglon of them coy
.fs one and thru pages 81 foolscag.
further statement of the assV;s Co,e
styE be Is unable 70 give, He Alleges Ia
-N%at'e+NA-st"tf
fFfsEsp without consulting hlsn and that
te action ef i'Tco ia taking title - real
sd personal property in his own name
las been without right and is contrary 10
NE undeTs'an5isoe ~ the partnership
Borrowed Without Coie's Consent.
In 1924 Price borrowed money from tae
Farmers a1l Citizens Savings lssrk. Of
Il~ H9tt, la. ard iafer borrowed money
rom ihe First NauoGal lsank -
lie We, Is g3le sssy. .hat tass. Fatus
We're secure ! on the eryt!t ~ The rartrsr-
sep hat without his knowledge and s3th-
eh authority and contrary io tae under.
stA"dfrg - the Partnership Cole saws
mat NheG BE- learned os these laass New
*sfe comparatively small ar.i he lia got
otsieve ties Nogld fe Increased Prize =
sSesed however ~ Increasing tAn fsafe
without Coles know ,~Isc unsl tha part
ssrsai0 Be- sns iiatde g the banks ger =
sa1s exceeding $500 These lcarS a~e s~
s'.f"s. Cole saws hy bonds. WARRANTS etr
T"se 49, alleges that I'ygr~ ras ass-sx-f
FarsAerShlp securities Nah the same banks
- secire ,he personal nat.> y Nh Pee
sincant!ne "a s. 30 prc@ r Fart>sf.
ehsfKed Sii6 having horrovei 8 80 from
ue SAVINGS Bank on hts personal reto ara
ReaENs partnership p~opef ty
'oo claims 20 have uo iAss wsa, us, -
tse money borrow 81 fTon tto banks as