The Portland daily press., 1900-07-31
RELATING TO A BOND.



Another step was taken in the Wood
bury q Moulton bankruptcy case yester-
day afternoon, where there was q short
hearing before Mr.. John B. Donovan OF
Alfred, referee in bankruptcy, of Messrs.
Theodore O. Woodbury. and Edward FL.
York, by Mr.. Eben W. freeman, attor
ney for Thomas I'll. Haskell, one of the
creditors OF the firm, who opposes their
discharge from bankruptcy. On July
18th one of the creditors filed motion to
examine the bankrupts. The motion was
filed shortly before the specifications and
some days after they We're filed the court
ordered the creditor to file a list OF topics
on which it was desired to examine the
bankrupts. On July 9th these topics
were filed, and last Saturday the court
gave a hearing on the reley ancy of the
topics and in effect ordered that the
bankrupts might be examined on two Of
them. These topics related to the tran
sactions by the firm, if any, directly or
Indirectly with Lewis Pierce of Port
land, since the time OF the filing of the
petition in bankruptcy, including any
purchase made by Mr.. Pierce from the
estate of said bankrupt firm since the
time of the filing of the petition.
On Saturday Mr.. Pierce took exception
to the topic concerning him saying that
there was an insinuation in this partiou-
lar topic that there had been such tram
saetions ana he asked the judge to grant
hearing on this point Judge Webb
granted Mr.. Pierce's request and the
hearing took place yesterday afternoon.
In order that this matter may be under
stood it will be necessary to state that
in the examination of the bankrupts in
January last before Referee Pierce, it
transpired that previous to the failure,
according to Mr.. Pierce's statement to
Mr.. Freeman at the time, Mr.. Pierce had
loaned friend of his an greensboro Water
company bond to put up with Woodbury.
& Moulton as security for a loan which
this friend desired to make. This par
ticular bond was pledged by Woodbury.
& Moulton for one of their loans and af-
ter the failure Mr.. Pierce redeemed it
from the assig nees by paying 81, 600 to
them.
Mr.. Freeman's first question Of Mr..
York, who was first examined, related
to the firm having had in its possession
at any time an greensboro water COM
pany bond belonging to Lewis Pierce.
It was excluded by the referee as being
too broad. He said examination must be
confined to transactions subsequent to
the firm 8 assignment. Question after
question was asked by Mr.. Freeman
Mr.. York. ruled out and exceptions
taken. The gist of the testimony actual
" put in was that Mr.. Pierce paid no
money to the members of the firm after
the petition in bankruptcy was filed.
Entries on the books which were IN Mr..
York S handwriting, showed that $1,000
had been acknowledged as paid by Mr..
Pierce to the assIgnees for the release of
certain bonds, the dates being Novem-
Der II and November p, but the witness
said he made the entries at the direction
of the assignees and had no further
knowledge of the matter. It also appeared
that the cash book entries after the books
went into the hands of the assignees
were not made in the cash book chrome
logical order. Frequent tits between
counsel We're INDUCED in, and Mr.. Dono-
van had occasion to reprimand Mr.. Free
man for his tactics, and Mr.. York for his
inattention and an apparent indispos1tion
to answer, once suggesting to him that
his rights would be duly protected and
it would be better for him to keep his
temper.
During the examination of Mr.. York,
Mr.. Pierce interrupted to explain how
he had loaned a friend a bond to be used
as collateral for a loan from Woodbury.
& Moulton. His motives said he,
turning to Mr.. Freeman, "are beneath
contempt ana unworthy member of the
bar
Mr.. Freeman-"Will you allow the ex-
animation to proceed?"
Mr.. Pierce acquiesoed.
The examination of Mr.. Woodbury.
followed that of MIR. York. Mr.. Free
man asked him the general question if
there were any transactions between the
firm and Mr.. Pierce subsequent to the
filing of the petition. The question was
excluded and then Mr.. Freeman in
quired with reference to the entries in
the book of November II, and November
%, relating to payments by Mr.. Pierce
taking up the Greensboro water bond.
10 these questions Mr.. Woodbury. re-
piled that he knew nothing about the en-
tries or the transaction to which they re-
ferred.
When Mr.. Freeman had completed his
questioning MIR. Verrin said that he
wanted to ask Mr.. Woodbury. ques-
ton as or have Mr.. Pierce do so.
Mr.. Pierce asked the question. "Since
the assignment he asked, "haye you
had any transaction with one either for
yourself or the firm.
Mr.. Woodbury." Absolutely none"
Mr.. Pierce-"H Have you had any bonds
in your possession after the assignment
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