The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-05-06

Under the contracts by which the Mer-
camille Trust Company agreed TO pay 500
for every share of Virgins Ferry Company
stock, yesterday was the last day for turn
ing over the certificates. At night President
Festus J. Wade said:
"Once more l say with confidence that
our company has the needed majority of the
stock. There will be no compromise. 1t
will be fight TO finish. There have been
some examples of the commercial honor
which St. Louis may well be proud of. If
there are men who feel that they can break
contracts with impunity. 1t is for them to
settle it with their consciences and in the
COURTS
Vice President Breckinridge Jones Of the
Mississippi Valley Company said:
IF President Wade can produce the ma
jority of the stock he should do SO. 1 re-
iterate that the Mercantile Trust Company
cannot have majority unless there has
been an overissue of stock. The time is up
tonight. as 1 understand it,
Money Delivered In Carriages.
Carriages containing representatives of
the Mercantile Trust Company carried large
sums of money all over the city yesterday.
The 5th of May was the closing day under
the contracts by which the company agreed
to pay $500 for Virgins stock, and the
carriages called at the homes or offices of
such stockholders who had not turned in
their stock.
One of the carriages called az the office
of William J. Lemp. the brewer. who has
503 shares. In this carriage were w. F.
Evans. one of the staff Of attorneys of the
Rock Island road: F. W. Wrieden Of the
Bank of Commerce and one of the Mer-
camille Trust lawyers. In package guarded
by the men was s201.s5o in bills Of large
denomination. A hand satchel held the
funds. The men entered the brewery Of
fee and Mr.. Evans stated that they had
come for the 500 shares which Mr.. Lemp
had contracted to sell to the Mercantile
Company.
we have the money to pay for it, said
Mr.. Evans and opened the satchel.
Had Disposed of Stock.
Mr Lemp stated that he was very sorry
that he did not have the stock. as he al
ready had turned 1t over to the Mississip-
pi Valley Company.
Mr.. Evans tried to persuade Mr.. Lemp to
count the money. but he declined. saying
that II was unnecessary.
The Mercantile Trust officials say that
the general impression was that William
J. Lemp. Jr.. had signed the contract to de-
liver on behalf OF his father. but the
signature on investigation proved to be that
of the elder Lenp.
Concerning Mr. Lemp's attitude Mr. Jones
said:
Mr.. Lemp took the step he did in turning
over the stock to us several days before
the notice of Injunction was served on him
by the Mercantile Trust Company. He also
repudiated the contract to delived on the
advice of eminent counsel who said it was
not a contract
Legal Counsel Is Plentiful.
1t is not likely that the test case which
will dispose of the injunctions will come
up until the end of the month. Messrs.
Low of the Rock Island and Finkelnburg
of the Mississippi Valley Company said
last night that the attorneys had not
agreed on a time as yet, but it would
probably be within three weeks or a month.
Meantime both sides are preparing the
cases. Probably never before have so many
of the leading law firms of st. Louis been
called upon for counsel and opinions, and
the litigation which will grow out of the
Virgins Ferry transfer will be noteworthy
in the annals of law.
The injunction and contempt proceedings
were passed when they came up in the
Circuit Court yesterday morning. In Judge
Ferriss's division the Mercantile Company
is plaintiff In a number of cases against
the Mississippi Valley Company, and several
ferry stockholders are also plaintiffs in
contempt proceedings brought against the
Mississippi Valley Company In Judge Tall
tvs division the Mississippi Valley Com
pany is plaintiff In injunction proceedings.
Both Judges Ferriss and Tally said that
the arrangement whereby a date would De
set within q few days for trial Of the cases