The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-01-18

pare a report for the journal 'hl e"'
committee adjourned.
The tolicwing is the text Of the state
ment fled with tbs committee by Ar' |
Bailey. Much has been said about my
p,rcbase Of 5000 acres Of laid from Bar
nett Gibbs. AMI It has been charged tat
| obtained this land as compensation for
ny services to the Waters-FieFce on
company, / therefore desire TO submit 10
this committee full and detailed state
ment 81 that transaction.
MY contract with Mr.. Giabs was that
was TO give him q 900 acres of land 10
Pecos county and $4,000 :or what was
known as his Grapevine ranch, including
500 cattle. about 25O horses ami mules
and AL the larming imp snents. The 2l,-
900 acres Of land in Peos oounay be-
loneed to David r. Francis OF Mis ioNri,
and my connection with Mr.. Francis was
that csuld use his land and either al
low MIN an Interest in ne place when !
lurchased from SIR. Gibbs, o. cou d
pay him for his land whenever | realised
on the land par shastd from Mr. Gt@i0'
! aud until did pay him for the land |
, was 10 pay him per cent interest on
$4,000, tine value OF his Poeos COUNT
I lind, This Was really an eSceIient con
{ tract for Mr.. Francls. because he hau
owned the PeC1s county land '7r alto t
' eighteen years and although payins taxes
on It during all that time he had n ayef
) received 81 from IL, and consequently
e. the committee VIII reDil!y UNDERSTAND
e that II - not necessary to LOOK for
, motive on Mr. Francis part other than
o con mon business sagacity.
E This 21.000 acres q. land was conveyed
4 By Mr.. Francis u Mr.. GIBBS ami the
9 $50 0C0 was paid as follows: Assumed -
e the Texas Land ana MortEage c mpany.
? $40 20; assumed TO the National ak
d change hank, $l3,ll7.7S, Assumed TO 9. G.
= Slaughter sl2 0202S; paid 20 Mr. Oio9s
+ in cash, $4,000; paid for stamps on dee /,
y 5000 leaving balance Of Sl3262g--tCtal,
y $50 coo. This balance of SlS26.29 was rata
out Of wheit which was received for rent
e and which was s.ld by Mr.. Gicas at my
v request in my absence u MIR. Jctt aud
y Mr.. Halsell at Farmers Brunch. Texas.
- The Indebtedness OF s49,5i6,2) to toe
a Texas Land and Mortgage company was
~ incurred by deed of trust exc utcd by
~ Mr.. Gibbs on about 5000 acres OF Land
~ purchased from him. and ! EXTENDED thii
~ Indebtedness IN the same company and
:, upon the same security. The indie sickness
-
cured by deed OF trust executed by
Mr.. gibbs on T72 acres Of the land wh'cf
'e purS hased from him and thst indebte, !
= ness has been discharged By 4 sale ~
20 the land: a part Of it wls sold to l. NJ
a Gentry, part Of It to John Feds, {
part of II to p. NJ Cribas and the re-
a maiader to Cribbs & Barry. The cast
8, payments and notes for these severn
OF purchases were all turned over 70 Mr.
i'd Slaughter.
a The Indebtedness to tine National FIX
IN change hank was secured by a mo-tgas
A. on about son head ~ cattle ana sbo it %
he horses and mules and was d charged >,
en- executing new m7rtEnge 10 TIE sam
n bank on the horses and mules fr s27f
eg and a payment OF s1o617.7s in cash Tn
en- money with Which made this c,sh p =
On rlent OF si0,6i7.7s to the banF and $
the cash payment of $4,000 to NJ, Glib
nc Was Obtained by e&ocu,ing /, NOR gtGa
lis the SEQ he3d ~ cattle for $4,000. III
n mortgages Of $500 on the horses an
ne mules and $500 ~ the SIS coo on the cat
ne tie were liquidated during the moaths
OF September and October by the folowiu
a. sales: To Joe Fields. "A mules for SisSl
We TO Hughes Gaisford, 70 horses Ger s2i7i
to HUH Gatsf5Td, $50 steers for s3Sct
received from r. II. Ashford On estt'
&c sale, $780, cattle scid at the Dallas st0c
N, yards for Si0l5, making total q So
SSV. l then bought from Messrs. McNa
% & Hoovenkamp of Fort Worth eighty-lN
-, heea Of hish grade short horn c,ws {
eA ss5 per mead, making s2s7b and paid Il
nj them by selling these gentlemen /
steers out OF the number which l a
"e tanned from Mr.. Gibbs and the rema nd
VI OF the cattle which had purchased fro
Mr., Gibha, for which. In addition TO q
or $500 whlch ! received from him tas
W have stated above). he executed 20 me h
promissogy note for $500 ANA secured q
ny same by mortgage on the cattle which
no had sold TO him. That note is now he
by the National Exchange bank OF Dalls
my and with the proceeds OF Il that Dali
, hank has paid OF the remaining SIS
on the $4,000 itSte. Every dollar " III
led M ney. except the s132629. which vi
- c1.lected by Mr.. Gibbs through the So
OF The wheat, is a matter 81 public reeo
70 In Cooke and Dallas counties and IN
OF si3362s watch was collected by Mr.. GID
nee through the sale Of the wheat can
traced. II the committee so Seslres IL,
= snulnoning Mr.. r. tsBonham and n
re- Ferguson whose initials Sorsetl a