Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1900-01-14
the most favorable light, and estimated
its cost at about $500, 900.

corporate a Company which resulted in
an agreement of incorporation being
signed on April 90, 1889, and a certif-
cate of incorporation was issued to the
Wheeling Bridge Co., on May 6, 1889.
Although no contract of employment
appears, and no one seems to have act
ually employed Ferris, he took such an
interest in the project that he made
surveys and prepared plans and draw
ings of the proposed bridges, and after
wards subscribed $4,000 for himself
and 5000 for Kaufman to the capital
stock of the Company. After the in
corporation of the Company, steps
were taken to secure the permission
of the United States government for
the erection of the bridges, and efforts
were made to raise the necessary capt.
tai stock. AS a result of these efforts,
by November 1889, six weeks after the
incorporation of the Company, about
SIS, 900 had been subscribed.
while the evidence fixes no certain
date on which 1t is claimed that the
conspiracy was framed, it is said to
have been entered into before Novem-
Der, 1889. AS stated, the subscribed
stock of the Company at this time only
amounted to about SIS 5000. The only
estimate as to the cost of the bridges
which had been submitted to the men,
bers of the Board of Directors approx
mated $500, 900, including the amount
necessary to be expended for real es-
tate, yet at this time less than one
sixth of that amount of capital had
been raised. While the company was
in this condition, it is claimed that the
conspiracy was perfected among the
few persons charged whereby a con-
tract was to be secured for their bene-
fit at an expense to the Bridge Co. of
S125, 900. In other words, they had ar
ranged to make a profit greater than
all of the stock then subscribed.
Where was this profit to come from?
At that time there was no assurance of
the additional subscriptions afterwards
made by other members Of the Com
pany. OF the SIS. 1000 subscribed the
persons charged with being in the con-
spiracy held s25 5000; and, as the stock
holders must bear the burden of any
profit made BY the contractors, if the
charge is true, these men were plan
ming to impose one-third of the loss
upon themselves. If all of the capital
stock had been subscribed at this time
l could see some foundation upon
which such a plan as that charged
in plaintiffs bill could be based; but
it seems to me incredible that men OF
acknowledged business ability should
have entered into any such arrange
ment at that time in the company's
history"
Judge Hervey then makes an exhaus-
tive examination of the facts in the
case, writing at great length, and
closes in these words, as the judgment
of the Court:
when in violation of the terms OF
the contract with the Bridge Company,
Hughes issued to Ferris and Kaufman
certificates for paid up stock which that
firm desired to use in procuring money
to carry on the contract, it was Hub
bard who protested against The ACT to
Hughes and insisted upon the return
OF the certificates. If he mad been a
| party to a scheme to share the profits
of the contract he would have been
concerned in every way to nelp the
contractors and would have been the
last man to have prolesrcd against an
act of the company which extended aid
w lACIus 4IlodSAoQb CAO A4b7
tory of the case. Hubbard's conduct
shows hat he was free from any col
fusion with Ferris and Kaufman. On
the day when the contract was let
instead of remaining until the meeting
was over, as he should naturally have
done had he been a party whose inter-
ests to be watched, he left before the
directors had concluded their session
Whenever any controversy arose be-
tween the contractors and the company
he strictly maintained the rights Of the
company and faithfully discharged the
trust reposed in him as a director ano
attorney. Being of the opinion that
the clear preponderance of the evidence
is with the defendants, the motion for
an issue out of chancery is refused.
"a decree may be drawn finding in
favor of the defendants on the ques-
lions presented by the bill, and finding
in favor of Hubbard on the cross bill
as to the right to receive his share of
the stock held by Park, trustee, n re-
ferring the for a settlement OF
the trustees accounts"
AS to whether or not an appeal will
Re taken in the case. nc definite in
formation could be secured yesterday.
but as copies of the decision were
made by counsel. it is a fair inference
that such a proceeding is at least under
consideration by counsel for plaintiffs.
A CELEBRATION