The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-01-29
SOLD FOR $27O,0oO.

|
Bettman, Watson G. Barnheimer Oil
Property-Mr. Watson Wins His Big
Suit
In March of 1898 to the surprise OF
The oil world, the assignment of Bett-
man, Watson & Barnheimer was an
nounced. This was made in New York
city by all the partners, but shortly af-
forwards G. l.. Watson, of Parkers-
/ burg, West Virginia, brought an action
| in the supreme court to set aside the
assignment, charging that his partners
| had attempted to defraud him and the
creditors of his firm.
Mr.. Watson further alleged that the
assets of the firm were sufficient to pay
all the obligations and leave large
balance for himself He further con-
tended that his partners, by means of
the assignment, were seeking to appro-
pirate the property of his firm to pay
the debts OF other firms in which he had
no connection, but in which his part
ners were interested.
Mr.. Watson is well known and has
many friends in New Haven as well as
in Madi~on, Conn, where he has a
summer residence. He is brother-in-
law of Winthrop G. Bushnell, of this
city.
The litigation was prosecuted vigor-
ously and an immense amount of evil
dence was taken. A receiver was APP
pointed and the property advertised for
sale; and all the creditors and the
amounts due them having been ascer-
tanned, the sale of the property was
held in Parkersburg. w. Va, and the
sum of $270.OO0 was realized.
At the sale the representatives from
number of syndicates and oil COM
panies were present. The bidding was
spirited. The amount realized, 1t Is as
serted, by those on the inside in a
position to know, is sufficient to pay
creditors in full, together with all
charges on the estate including receiv-
err and attorneys fees. The result was
a complete vindication of Mr.. Watson,
for Notwithstanding the shrinkage in
value through two and one-half years
receivership and the heavy expenses in
cident thereto, all creditors will receive
their pay in full and interest.
A number of the heaviest creditors
who were present in Parkersburg are
emphatic in their expression of graft
tude to Mr. Watson and their full conf
dence in his uprightness.
The Parkersburg News says, in addi-
ton to the above: Doubtless never in
the history of the state has there been
a case which brought forth as great an
array of legal talent as did this one.
Among those here were Lep Wallach,
a attorney for the Adams Express COM
pany, one of the most distinguished
members of the New York bar, repre-
senting the Knickabocker Trust COM
pany, and The Chemical National bank
Otto Howitz, one of the greatest jury
lawyers in the country, representing
Max Drey, who purchased the prop
erty; Julian j. Franks, of Philadelphia
one of the company own
ers: f. B. Enslow, of Huntington, at
torney for the Chesapeake and Ohio
together with Judge McCluer,
of this city, appeared for the receiver. /
A. Leo Well of Pittsburg, who repre-
scented Mr. Watson, is the attorney for
the great Steel Trust, which is at pres !
ent attracting greatly the public eye /
Associated with Mr.. We'll were B. M. |
Amber, of this city, and w. p Hub
bard, of Wheeling. V, B. Archer ap-
Deared for Joseph Locheimer, one of |
The heaviest creditors