The daily journal. (Salem, Or.) 1899-1903, 1902-08-13
TIMBER
DEALERS
DIFFER
Horace Mckinley Sues WIS
cOnsin Capitalists
Charges Fraudulent Transfer
of Partnership Land

timber cruiser who has made Salen
his headquarters for several years
has brought an action in equity agains
George L. and Clyde Lloyd and willis
II. Gilbert, Wisconsin capitalists. He
asks 10 have established his interest
in about 1000 acres Of land in Marion
county that was purchased for $23,'
100. ODay & Tarpley, Of Portland,
are attorneys for Mckinley.
The plaintiff alleges that early in the
year 1901 he entered into a contract
with the Lloyds by which he was to
locate desirable timber lands that
could be purchased at a reasonable
price. The money for making the pur-
chases was TO be advanced by the
Lloyds, the plaintiff to pay all the ex-
penses OF making the location.
The title to the land was to be vest
ed in the Lloyds, or one Of them, and
should be held in trust as to his inter
est While the land was held primari-
ly to be resold, still the plaintiff
claims that he had an option on the
purchase Of half interest In the prop
erty at any time upon the payment OF
onehalf Of the purchase price, and
interest at the rate of s per cent IL
was frther agreed that in the event
the lands we're not sold, onehalf of
the property was to be conveyed 10
plaintiff. but II the parties could not
agree upon a division Of the property,
then the land was to be divided in
such manner as the parties could mu-
tually agree upon. In case the lands
were re-sold then the proceeds OF the
sale were TO be divided as follows:
The Lloyds we're first 10 receive the
purchase price. together with an inter.
est charge Of per cent, then the ex.
pense claim of the plaintiff was to be
allowed, and the remainder was to be
divided share and share alike between |
the Lloyds and the plaintiff.
Plaintiff further alleges that under
the terms OF the contract. he secured
an option TO 1920 acres OF land which.
defendants agreeing and consenting.
was purchased at IS and s6 an acre.
the total purchase price bein 2S,16O.
In cruising and locating this land plain. |
tin claims to have spent over $500.
He Afterwards received an offer for
the sale OF the same lands at Ss an |
lcre, but the Lloyds would not agree |
10 a sale at that price. The title 10
The land deraigned from the state OF
Oregon. the certificates Of sale being
held by ). A. ID. Puter, who assigned
he certificates TO Lloyd at the time
If the purchase. Plaintiff claims that
ne lands at the time they we're pur.
'hased were worth $3.50 an acre, and
hat they are now worth SIS an acre.
Plaintiff further alleges that the de-
endants, Lloyd, for tho purpose of
iefrauding him OF his interest In the
'roperty, did. on March 2, 1902, trans.
or and assign the certificates 10 one
Willis II. Gilbert. who surrendered
hem 10 the state and received there
or deeds to the property. and that the
eeds have not yet been filed for rec
nd, but are being held for the pur
'ose OF concealing the transaction.
The purpose OF the action is 10 es.
ablish plaintiffs interest to the prop
rty In dispute Plaintiff asks for a
ecree OF the court decreeing him 10
q the owner OF an undivided one-half
interest in the lands. subject 20 the
ayment Of onehalf OF the purchase
rice OF the lands and 8 per cent In.
srest as provided for In the alleged
ontract. and that the whole OF said
1nds be subject 20 the plaintiffs lien
'r the said sum, and that the defend.
nj. w. II. Gilbert be decreed 10 hoIo
he said lands In trust for the plain.
A. TO the extent OF his interest there.
b In his complaint plaintlf further
ieges that he has repeatedly de.
anded from the defendants Lloyd
ritten contract setting forth the
rms OF the agreement under which
icy we're operating. and that the same
as refused.