The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-24
Messrs. Binford, Mcdonald and Kirk
patrick Hold a Conference
I'm This City.
WILL WAIVE PRELIMINARIES
AN APPEARANCE WILL BE ENTERED
IN COURT TO-DAY.
Claim Made that Plaintiffs Approved
the Financing of the ROad-Ex-
pert Engineers Report.

1.-THE complaint filed Saturday in the
Marion county Superior Court by the per-
sons who call themselves the minority
stockholders in the Indianapolis & Green
field Rapid Transit Company is a tissue
of lies from start to finish, and is malicious
in it's deliberate perversion of the facts.
Elmer j. Binford treasurer of the In
dianapolis & Greenfield Rapid Transit
Company, Lorenzo Mcdonald, president Of
the company, and Christian NJ Kirkpat-
rick, who organized the construction COM
pany that built the Greenfield interurban
line, met yesterday afternoon in the Of
flee of Frank NJ. Fauvre, formulated the
reply which they will make to the minority
stockholders, who allege that they OBJ
tanned stock and bonds by fraudulent
representations, and gave to the Journal
the official statement quoted in the opening
paragraph.
This morning, as the principal defendants
in the sensational suit, they will appear
before Judge McMaster in Superior Court
Room g. and will waive the issuance of
summons. They will file an answer to the
complaint and petition for receiver made
by the plaintiffs and will demand an i'm
mediate trial. The defendants are anxious
they state, to get the trial at once and de-
sire to have the court do away with pre-
liminary formalties in the interests OF dis
patch.
STOCK GIVEN FOR ASSISTANCE.
Mr.. Binford in the conference yesterday
stated that w. n. Harding, Alfred r.
Hovey, George C. Webster, Nathaniel
Morris, John ]. Cooper. Charles NJ. Cooper.
Eugene Saulcy and Mrs. lone b. Black
who. as minority stockholders, allege that
he and his associates have practiced fraud.
never had more than 800 cash interest
each in the Greenfield interurban line. Mr.
Binford declares that the stock which they
held individually was not awarded them
for a cash consideration. but was given in
consideration of certain assistance fur
nished by one of the plaintiffs
Taking up the principal allegations made
in the complaint. Mr.. Binford stated the
nature of the answer he would file in court
concerning them. AS to the charge made
that, with others. he had obtained $1,000
in second mortgage bonds and s120OOo IN
stock by false representa- tions, Mr.. Binford
said:
THE company as a whole never had any
dealings with the Cleveland banking house
of Dennison. Prior & Co. Mr.. Kirkpatrick
details of financing 1T after he had made
an arrangement by which he received so
much for his compensation. Mr.. Kirknat-
rick submitted bid to build the line in
consideration Of 100000 in first mortgage
bonds $15O.OO0 in second r,~~tzage bonds
and $4,000 in stock. That old was an
proved not only by myself and Messrs Nc
Donald and others, but by all the minority
stockholders who hold that we defrauded
them. They were fully acquainted with
the total amount of bonds and stock in
volved. That approval we have in writing
with their signatures, and we will produce
it in court. Then, after receiving the
amount stated in securities, Mr.. Kirxnat
rick disposed Of $4,000 in bonds 10 tbe
firm OF Dennison, Prior & Co. For these
ne was able 10 obtain a good figure He
made no attempt to dispose of the second
mortgage bonds to them. for the reason
that at the time he realized it would be i'm
possible to obtain anywhere near what they
were worth.
HELD AS AN INVESTMENT
Accordingly he, and the men that after
wards became interested in the KirInat trick
Construction Company, held the second
mortgage bonds and the stock of a ma,
value altogether of $4,000 as an invest
ment for ourselves and ourselves furnished
the money with which to assist in The cop
struction OF the road and TO paw other
heavy expenses.
I'm round numbers the Greenfield line
cost $500. coo in cash. II is easy to seq
CONTINUED ON PAGE 8. COL. a