The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-04-12
COL, FERRY'S SONS
SUE FOR ESTATE
Sensational Action for Two
Million Dollars.
SAY DAVID D. ERWIN
WAS TERRY'S TRUSTEE
Big Block of Silver King Stock
Involved.

4lN
WHAT is probably the most sensa-
tional civil suit ever launched in the
courts of Utah has been filed in the
Summit county. division of the Third
district court by William Montague
Ferry and Edward Stewart Ferry, as
general guardians of the person and
estate of their father, Colonel Edward
P. Ferry. The property involved. if
converted into money, would probably
converted into money, would probably
amount to more than S2,OOO,000, as, in
addition to an almost endless inventory
of real estate, scattered. irom Salt
Lake to Musbegon. Mich, dozens of
] mining claims and stocks in many
other mining corpora lions, it also in
/ wolves no less than u. 200 shares Of Sill
| yer King. 12 ,00G shares of Anchor, H.
/ ESQ shares of putnam and 4,y0a shares
! OF WoOds'tiC stock.
! The defendants named in the com
/ pl1int are David D. Erwin, d. c Nc
G.aughlin. Thomas Monroe, Henry New
/ ell, Edwin 7. Holmes, trustee, Dwight
! Cutler, William \ Mccormick, trustee;
/ Silver King Mining company, Anchor
Mining company and the Quincy Min
/ ing company
Charges Made by Plaintiffs.
The allegat tons set forth in the COM
/ plant, which was filed With Judge
| stewart in COalVille on Saturday last
/ and which covers twenty closely-wrlt-
! ten pages, go to show that early in
/ 1892 Edward :. Ferry, father of plain
! 6iffs, became mentally Incompetent and
] incapable of managing his estate, and
/ further alleges that ne is still in that
! condition; that in December, 1900,
plaintiffs were appointed as his guar
I dian, and that as such they seek an
1 accOunCil-> and the surrender of val
liable iAtstests belonging to the estate
\ and claimed TO be unlaWfully held by
! David D. Erwin of MuSkegan. NJ ien.,
/ the other defendants being brought into
! the case through business associations
/ with Erwin
! The trouble dates back to the year
! 1883, when E 2. Ferry purchased an in
! terest in What was known as the May
/ flower lease, an interest that was later
j transferred to Erwin in trust for 4. P
/ Ferry Large profits resulted from
i working the ground, and with moneys
I derived therefTom and credits obtained.
the Joint owners Of said lease purchased
1 the Silver King mine. Finally the
+ leaSerS turned over all their acquired
/ property b the Silver King Mining
: company and defendant Erwin got as
/ his proportion of the stock, in trust for
{
! capital stock.
Acted as Trustee.
! From that time on defendant Erwin
/ is alleged TO have exercised control over
/ all of L. p. Ferry's business interests
and to have generally managed the es-
t,bte as trustee, and that he has at all
: times refused to give an accounting or
otherwise nike known the value or eX-
3 tent of the properties held and con-
/ trOlled by him for said Z. p Ferry, not
withstanding that repeated demands
had been made upon him.
The complaint recites that defendant
has collected in dividends on the King
stock 1907. 933; that he has hitherto
sold and disposed OF 1000 shares of
said stock: that he has also caused to
be assigned and transferred ], 900 shares
of said stock to D c. Mclaughlin. 3. 600
shares to Henry Newell, 1000 shares to
Thomas Monroe, and they allege, on
information and belief, that the par
ties named turned over TO defendant
Erwin the profits or dividends accru-
ing on these holdings, and for that and
/ other. reasons these parties are made
cO-defenGants.
Other Property Involved.
The complaint also asks that Edwin
F. Holmes, trustee; Harry Myers, trus-
tee; Dwight Cutler and w 5 McCOr-
nick, trustee. be required to account,
with defendant Erwin, for $1,000 shares
of Anchor stock; that D. c. McLaugn-
lin and the Quincy Mining company be
restrained from issuing to defendant
5000 shares of stock in that company
in lieu of the 1885 shares OF Putnam
stock. and that it, as well as all other
assets alleged to belong to the L. j.
Ferry estate, be held subject to the
order of the court after the accounting
prayed for is had.
/ It is also alleged in the complaint
/ that investments of various kinds have
I md T-z71r rs
of land in Michigan are described as
/ having been acquired for the benefit Of
/ the estate The plaintiffs ask that re-
Straining orders be issued 10 prevent
the several defendants from trans
ferring any of the interests held by
them, and that the trust between Ed
ward p. Ferry and his estate and de-
PENDANT Erwin be wound up according
to law, and that in the event of an in
ability to assign and deliver any of
the certificates representing stock in
the Quincy, Silver King or Anchor
Mining companies, the same be declared
Cancelled and other stock, in lieu there
of, be decreed to be issued by said
corporations to plaintiffs. and for such
other relief as 10 equity and good
conscience belong, together with the
costs herein incurred
Injunction Issued
Following the filing of the suit a re
straining order Was granted on Satur-
day by Judge Stewart and served on
Sunday, the occasion being an extra
ordinary one, on the Silver King COM
pany TO prevent the payment of the
April dividends on the stock held by
/ defendants an to compel the COM
pany to show cause on May
Z why it should rot be restrained and
enjoined from transferring any of the
shares described in the complaint by
number of certificate. and issued to the
defendants named, on the books of the
company.
Richards & Yarian are plaintiffs at
{ torneys.
War Made Dividends.