The Providence news. (Providence [R.I.]) 1891-1906, 1899-02-27
Mr.. HAZLET0N AS A WITNESS.
Endeavored 10 Explain Several Charges
Made Against Concern.
WHY Or. CARLES LOAN WAS NOT MADE
Latter Had Signed Memorial Against The Company.
The Connection Between The Homo 6uiIdIng
Society and The Investors Company.

The hearing on the petition for the
repeal OF the charter of the American
Investors company was resumed i'm the
Senate chamber at 10 o'clock this morn
ing before the Senate judiciary COM
mittee, Senator T.. l.. Freeman presid-
ing.
Robert w. Burbank, Esq, counsel for
the company. announced that Mr. q.
Percival Stewart, manager of the com
pany, would be unable to be present,
as he was detained in New York by leg
al business. He then called TO the stand
as the first witness for the defense, Mr..
BENJAMIN l.. Hazleton, who stated that
he came 10 Providence i'm May, 1898, as
agent OF the company and manager OF
the local office. He spoke of the nego-
tiations with Mr.. Barbour, OF East
Providence. and stated that within 80
days of the time OF Mr. Barbours ap-
plication a loan OF $1,000 was made 10
him, the company giving $500 in cash
and assuming an $500 mortgage on Mr..
Barbours property.
The company agreed TO take care OF
the mortgage until IL became due ana
then take il up. In October, Mr.. Bar
bour came into the office and said that
the company had lived up it's agree
ment. but that he could not live up 10
his, as he had had considerable trouble
and could not pay anything then. There
was no intention TO defraud or lnJure
Mr. Barbour in any way, and the mort
cages taken by the company were SIM
ply taken in the regular way OF Dusl-
ness. Mr.. Barbour and his wife were
10 pay $l0.50 per month, but for sew
eral months did not pay.
on the application OF the 81, 800 certi-
ficate. the company ascertained that
there were several attachments. on the
property and that these would nave
10 be disposed of before the company
would be secured. Mr.. Barbour paid
$50 on this transaction and the COM
pany ascertained that he had bought
the property for 81 400, and Ii was taxed
for 81 300 The examiner of loans came
to Providence and after looking INTO
the matter refused to sanction the loan.
shortly after this the $50 was returned
to Mr. Barbour. Later Mr.. Barbour
came in. saying that the company had
treated him white, ana wanted 10
make another loan.
In the George b. Merritt transaction,
witness had never told Mr.. Merritt that
he was sure to get his loan in few
days After a short negotiation MI
| Merritt was told that his application
could not be considered further. Wit
ness stated that he met Mr.. Merritt
about a week ago and he stated that he
was still willing to take his loan.
Wintss declared that in relation To
| the O'Connor case he did not leave
| Providence to avoid arrest and had
never made statement that ne eN-
pected to be arrested. He went TO New
| York and remained there for about
| Infn
| there. and then returned To ProVi-
| dence Matters had been satisfactorily
! settled with MIR. OConnor.
| In relation TO the case of Fred Will
! Jams. witness said that application mac
been made for II $500 loan and made
a payment of about $50. He subse'
oucntly raised his application FOR S2OOO
| rho companys officers did not think
MIR Williams could stand such loan
and wrote him suggesting that cheap
| or house be erected. Early in Febru
ary Mr.. williams came into the Office
and talked about making the loan, bu
| the next day he returned ana sald M
wanted 10 have nothing more TO do VIII
, matter and was all through VIII
the company. Mr.. Williams has neve
made a demand on the company Tor TIT
money he paid.
In The DR.. earle case witness told o
certain conversations with the docto
and also with Mr.. Reeves, the manage
OF the drug store which Dr. earle de
| sired TO purchase. Witness turthe
stated that the loan would have beel
made to DR.. earle. and the compan!
had so decided. but at that time TIL
doctor signed the petition presented tn
Assembly.
Witness was next questioned abou
the application for loan made by Ben
lf Tod N
a house. According To the witness MI
Wyman dropped all further negotia
tions with the company. carrying o
business directly with the otfiS~S II
New York. The Providence office wa
notified that all negotiations with Nj
Wymsn had been definitely dropped
Later Mr.. Wyman brought suit agains
the company.
Witness then spoke OF tho applica
tjon of G. Eugene Robinson for a loar
which was for the purchase Of a dru
store and declared that negotiation
for the loan were stopped by the actio
OF MIR. Robinson himself ana with
drawn Witness stated that the Amer
lean Investors Company was here
do business i'm a straightforward mar
ner and on business principles. IL ha
n lease of it, offices in the Hodge
building for three years. dating froi
the first day Of February this year.
Chairman Freeman asked sever;
questions In regard to the relations Z
the Providenc, Home Building Societ
ana the American Investors Compan'
and Mr.. Tfazelton replied that thei
was nothing in common between tt
Two associations. ana he Knew noihin
about thr Home Bnilding Society
its business.
In cross-rxo minatiOn bv Mr. Aruol
VItn@zs said that he had acted II
, some time ~ the secretary ~ 90
Providence Home Building Society. an
, | was at ono time member ~ the 81
continued on Page Two)