The Portland daily press., 1900-01-25
TELEPHONE o57-3.

In answer to further questions MIR.
Woodbury. said that the firm owed the
Portland Savings bank about sliO. 900 or
perhaps q little less at the time of the
| failure.
Mr.. Woodbury. said that he did not
know how the change In relation between
| the saw ings bank and the firm was
brou ght about by the assignees.
Mr.. VerriIl.-The change was made for
the benefit of the depositors at large and
the matter was settled with this purpose.
Q How large amounts have you bor-
rowed from ths Portland Savings bank?
AT no time did we owe them larger
sums than $40. coo.
ON addition to what you borrowed
from the bank for the firm dill you CT
Mr.. York owe them any thing personality
Al had no loan.
| Mr.. Woodbury. went on to say that the
loan was an old one which had existed
since 1894. He had obtained 1t by making
application to the treasurer of the bank.
The security Of the loan was changed
| from time to time and other security sub
mitted.
q These substitutious were always
made by securities Of greater value were
they nots
A.-Not necessarily. Some items
were little more valuable but nearly al
| ways of the same value.
Did Mr.. 4. A. N1yes, the treasurer
of thu bank ever borrow any money OF
you?
Al don't think so.
Mr.. Freeman now came to the consider
alton OF the insurance policies while h are
held oy MIR. Woodbury.. This occupied
some time and developed the fact that
there were some policies which had tesn
paid up but were not ayailabla "a assets
The policies had net been placed In tho
schedules be CAUSE he had been told it was
not eoessary to do so. He said that there
| was never any other beneficiary than his
| wife and the policies themselves were not
made payable to him upon her death.
This referee Interrupted tie auctions Of
Mr.. Freeman by saying that the policies
would show for themselves just what thu
terms Of payment were.
Mr.. freeman now questioned Mr..
| Woodbury. CONCERNING some of The Water
company bonds which no hsld. The
| Crystal Water company hrss mortgage
bonds were bought for cash by
| Woodbury. and Mouton at % L.
and sold ut par. Some stock was given
| with these bonds as bonus. The Crystal
Water oompany's second mortgage bonds
were issued to take up the floating in
/ ~ , fr,,, had
not sold any but had placed them as Ee-
CURLY for loans.
| MIR. Woodbury. said that he thought the
tonds were worth par and had reas ons
for 40 thinking. The best evidence that
he thought so was that he had purchased
| them fer 50 cents. The bonds had been
Issued to Woodbury. and Moalton because
they had loaned the company money
| Mr.. Pierce said that information re-
garding all these transactions would be
given by the trustee st the proper time.
| MIR. Freeman having exhausted this
transaction asked MIR. Woodbury. whs
had become of q single harness.
ALI was used for a horse.
Q Where Is the horssf
Al sold him.
q When was he bought
A.--Some time last summer. / paid
$50 for him.
Q How much did you sell him forf
A.--$ia5.
q -Hhens
AIN November some time.
q Before the bankruptcy proosedinsss
Al don't remember.
Q --How were you paid for himP
A.-By a oheak on the Casco bank.
Q-whe Bought hims
Al don't know.
Q But you had check for him?
A-No II was made out to Mrs Wood
buy. did nos soc tho man at all. She
sold the horse for me.
Q Did you take any interest in the
| nastspl