Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-09-27
RocKRFELLER WINS sum.
Case Involving a Nitllion Dollars De
cided I'm Ohio.

Cleveland, o.. Sept. N.-JOhn ID.
Rockefeller has won the suit brought
against him by Capt. James Corrigan,
in which nearly s1.0OO,0OO was involved.
The case was heard by Judge Lamsons
during the last term of court and a de-
cision was handed down yesterday.
Capt. Corrigan brought suit against
Mr.. Rockefeller as result OF deal In
Standard Oil stock in which they parti-
cipated in 1895. Capt. Corrigan placed
$500 Standard Oil certificates in Mr..
Rockefeller's hands to secure a loan.
Mr.. Rockefeller held the stock as trus-
tee and finally purchased it himself
Mr.. Rockefeller bought in the stock
at 167. and Capt. Corrigan afterwards
charged him with committing fraud.
alleging that Rockefeller, by reason OF
his position as trustee, had superior
knowledge Of the value of the stock and
that the stock was worth $50 insts ad of
167 when Mr.. Rockefeller acquired 1T.
According to the preeent value OF the
stock the amount involved in the litiga-
tion is about 100000.
Capt. Corrigan sued Mr.. Rocke feller
to secure the return Of the stock or
sum equal to what he claimed the stock
was worth. but it was finally agreed by.
the two lit!gants to submit the matter
to arbitration. The arbitrators decided
that Mr.. Rockefeller had committed no
fraud in his purchase of the stock, but
disagreed as to whether he had paid a
fair price for 1t and as to whether Mr..
Rockefeller had kept his superior
knowledge of the value Of the stock
from Capt. Corrigan. In view of the
fact, however, that the latter had
waited two years before making any
complaint about the deal they held that
he could not come in at that late date
/ and set up any claim and they decided
| the entire matter in Mr.. Rockefeller's
favor.
Capt. Corrigan refused to accept the
| findings of the arbitrators. and had his
action against Mr.. Rockefeller rein
stated in the courts. He held that the
Iarbitrators did not correctly determine
1.-THE law as ii applied to the facts, that
they did not consider the issue and
Testimony at the same time. that two
Iof the arbitrators considered the mat
term the absence of he third. and that
1.-THE arbitrators failed to agree upon all
1.-THE points involved.
4 Judge Lamson held that the finding
lof the arbitrator Is final, and that he
4 had no power or means to reverse the
findings and the law in the case. All
1.-The objections of Capt. Corrigan he
|overruled. The court discussed the
findings OF the arbitrators at length.
land said that their failure to concur
Twas the Basis Of the entire suit. He de-
4 clared that the action OF the arbitra-
Itors was clearly proper, that Capt. Cor
FIrigan could not complain Of their find
slings and that it was not necessary for
Il the arbitrators to find specifically that
il Mr. Rockefeller had superior knowledge
j Of the value Of the stock or that he did
. not pay for 1t what 1t was worth. Capt
4 Corgigan. he said. had no right to wait
for two years before he decided to bring
d suit, and in the meantime watch the
! markets to see whether II would be tc
Ibis benefit to break his contract with
Mr.. Rockefeller
Judge Lamson held that the arbitra.
|tors were unanimous in their final find
|ings and that because of the delay In
filling the suit their findings could not
Il be set aside for the reason that they
|had found in Mr.. Rockefeller's favor.
Attorney Poppleton. representing
q Capt. Corrigan, made a formal motion
FOR a new trial, but this was overruled
Then he gave notice Of an appeal to the
lcircl1it court