The Birmingham age-herald., 1903-08-29
SUIT FOR $5O,OOO AGAINST ADLER &CO. W. H. Woodward Alleges
 Breach ot Contract AGREEMENT MADE IN 1900 Was In Connection With the Purchase of Certain Judgments Against the
 Lady EnsIey Coal, Iron
 and Railroad Company.

A suit was filed in the City court yes terday in which w. H. Woodward asks $5O,OOO as damages of Adler & Go. for an alleged breach of contract.
 The defendants in the suit are named specifically as Adler & Co.,, partnership composed of Morris Adler, Albert Adler. Samuel M. Adler and Edgar l.. Adler, and Morris Adler, Samuel M. Adler and Ed gar L. Adler as surviving partners of the partnership.
 The suit arises out of certain agree ments alleged to have been made regard ing the purchase of some judgments that existed against the Lady Enslen Coal, Iron and Railroad company.
 The plaintiff claims of the defendants the sum of s50,0OO as damages for alleged breach of a contract made and entered 1 into in writing on the 17th day of March, 1900, by and between Adler Co. as parties of the first part and E. L. Brown as party of the second part, which con tract is now the property of the plaintiff. The first count of the allegation sets out an agreement entered into between Adler & Co. as parties of the first part and E. L. Brown as party of the second part, which is substantially as follows:
 Alleged Breach.
 The party of the second part agrees to borrow $25OOO In cash upon note to be executed by him and which the parties of the first part agree to endorse, and the parties of the first part agree to furnish s2500O if in their judgment it is needed for the purposes of the agreement. All the money so furnished is to be used by the party of the second part in purchasing in his own name as trustee. judgments against the Lady Ensley Coal, Iron and Railroad company at the lowest price at which they can be obtained, and not to exceed 50 cents on the dollar of the face value of such judgments unless by mutt ual consent.
 The Judgments.
 The party of the first part will cause to be transferred to the party of the sec ond part as trustee judgments as follows: Adler & Co. vs. Lady Ensley Coal, Iron and Railroad company Durham & Go. vs. Lady Ensley Coal Iron and Railroad company, for which the party of the first part shall be entitled to credit on joint accounts at the rate of 50 per cent of their face values; Perry Mason-B Brown Shoe company vs. Lady Ensley Coal, Iron and Railroad company, for which the party of the second part shall be entitled to credit on joint account at the rate | oF oft Co
 The party of the second part Is author ized to pledge all the above named judg- ments and all others purchased by him with the s25,0O0 which he agrees to bor- row to secure the lender of the s25,00O against loss.
 There shall be placed on joint accounts to the credit of the parties of the first part S50.000, which is the price paid by them for the lease of H. W. and A. J. Perry. obtained from A. G. Smith as re- ceiver.
 The parties of the first part agree to use all honorable and honest endeAvors to cause the property covered by the lease to be worked to its full capacity and not to sell or dispose of the same except in connection with the judgment claims above referred to.
 Ths Profits.
 The prophets arising from the agree ment were to be paid and divided as fol- lows: The s25.0OO borrowed with interest shall be repaid first; second. any further money furnished with which to buy judg- ments; third. 50 per cent of the face value of the judgments owned by Adler & Co, Durham & Go. and the Perry-Mason- Brown Shoe Go. Then after deducting all costs and expenses. s5o,00O shall be paid to parties of the first which is the cost of the lease with interest. The re- maining net earnings shall be divided equally until each shall have received $aO, GOO and thereafter the parties of the first part shall receive two-thirds and the party of the second part one-third. pay able monthly.
 The averment is made by the plaintiff in the suit that after S13,O00 had been invested in judgments the contract was modified. The breach of contract Is al- legged to be in that Adler & Co.,, notwith- standing they agreed not to sell the Perry lease described in the contract did sell it yesterday to the damage of the plaintiff. causing him great loss in the profits of ore mined, and compelling him to sell the claim purchased under the terms of the said contract
 The Modification.
 The modification of the contract made on March II, 1e0o is In substance as fol- lows:
 Since E. l.. Brown has agreed not to invest the entire sum of s25,0O0 Ader & Co. bind themselves to pay him such an amount as will make his profits the same under the former contract as if the en- tire amount of s25,000 had been invested. The plaintiff ayers that the claims could have been bought for 3s 1-3 per cent of the face value and that they were bought at that figure and sold at 65 per cent of face value.
 Plaintiff ayers that by reason of fail- ure to purchase said claims with the res- idue of the said s25,oOo named in the orgi- nal contract he lost in profits s10.00O and that the defendants failed and refused to pay the amount. notwithstanding they undertook and agreed to do so. | The plaintiff also ayers that he is