The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1900-03-02

NsHlUu W OnNNf Oht WV aAA 1k"e1~sN 80
made, you did not make the si2, 900 TO
$4,000 losnf
Ayes.
Odd you on October Goth request
the Atlantic Trust company to place
q. 400 to the coupon account Of the Colds
borough Water company
A.-YeS we sent to the Atlantic Trust
90 mi any the check of the National Bank
Of Goldsborough for %, 900, that being
the amount due on coupons on the
Goldsboro ugh Water company bonds.
The amount was not advanced by Wool
bury s. Moulton.
MIR. freeman after endeavoring to have
admitted % q part OF the evidsuoe the
agresmsnt made with the Portland Saw
legs bank and the assienees In settle
ment OF the hanks claim without sue
cess, announced that he had finished with
Mr.. York, and court adjourned until
2. 80 O'Clock.
AFTERNOON SESSION.
The afternoon session began with an
examination OF Mr.. Woodbury., senior
member Of the firm, by Mr.. Larrabee.
The testimony was 90 follows;
OIL sse by schedule furnished by you
that the summary Of property assigned
by you. including the securities put up
az collateral TO secure loans was $780,
$50 90; that the total bt,dnsss on I'M
secured claims is Ss4s, i6d.l4. lie that cor
rectf
Al bslisve 50.
Q.-If those assets were TO be disposed
OF at thsm market value, what percentage
would you bs able to payf
Al couldn't give any definite esti-
mate. IL will depend on how the assets
work out, and what method is pursued
In working them out
Q-Csn't you give an approximate
estim ate of what dividend the assets
ought to pay on the Indebtedness OF the
tirmS
Al should Tar that II the assets were
dispo ssI OF at the best advantage thsy
ought to pay SO to % per can't Bnt oon-
ditions have changed SO can't tell. The
hns been increased since the
proceedings bsgan. III the
q ssignees had bten permitted to clear up
the estate the creditors would, believe,
have received 10 or 20 per cant more than
can now be realized.
O What were the amounts OF your
deposits ON the fret day Of November.
1887. 1898 and 1892
A,-Noyein Der ], 1891, the deposits were
1881, COO; July 20, 1878,
S2ss, 900; November l, 1893, SEQ. S2l; No.
vember /. 1899, s414,63s.
Q.-Now, did the amount OF your ss'ets
November /, 1897 and November. 1925
differ materially from what they did No
yember /, fsqgi
Al think not. There was not much
difference.
q 1t is then fair to say that yorr
business condition wss about the same
November /, 1899, that it was on the 9TH
or dates mentionedr
Ayes.
O Had there been any time In the
last five years that your assists mt fair
value woul1 pay your liabili-
tiesi
Ave thought so.
OIL know you thought 50, but would
theys
A.-Yes, we thought we could pay our
liabilities.
Q.-Has there been an material change
In the last year in the market value OF
your lie bilities?
A.-No.
What has been your income: /
mean the firms gross income, In the last
yesr, and what mas been done with itf
A.-From Septem Der. II. 1898 to Febru-
airy 10, 1899, 1t was $40, l6D.49, and down
to November /, 1889 1t was S43, 900 more.
Q-Does the profit and lois account
show tho amount received by III, firm
d Turing THU periodi
A.-Tae interest account shows that
from Septembe /, le0S 10 February 10,
1899 the interest received was S48,Sls,
and from February 10, 1899 to November
l the intsrest was $4,000. The total
amount for this period was Sls4,COO In
round numbers.
Q-whst was done with that inooms
and intereJtI
A.-The books show all that
Q.-Was that all used in payment OF in
salaries and expensssf
AYES, 1t Id all accounted for. There
Is SIS. 90 more profit which does not ap-
pear on the profit and loss account.
Mr.. Coombs said he hal n tabulated
statement prepared under his direction
the amount OF expense of each
class. MIR. Coombs got this statement
for Mr.. Woodbury., who read the STATE
ment as his own.
Gas understand you had the most
TO do with tho purchase of water COM
panies and stocks.
Ave promoted only one water COM
papy. That was the Monroe water COM
pany which cost us some thing over S2o.-
600, so that the stock stood US for that
amount. We bought the other bonds.
but did not promote the companies.
Q-Name the companies In whose
bonds you dealt during the last year!
Mr.. Woodbury. gave list Of about forty
or fifty companies. mostly water compa-
cha honda xuhi.,h ha firm,