The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-07-14
TUT IL ON
The CI!O|IU.LDS
In Strong speccl, Before Judge
{ Mullen He Condemns Their
Financial Transactions.
REVIEWS Il: l The BOND MATTER 3 !,
Gives History Of Atlantic De-
vclopmcnt G Company Mr. An
.dersonS for the Defense.

tspecial 10 The Times. Dlspateh.)t

4 ;8 Especial TO The Times Dispatch.)
PETBRsBURG. VA, H July 1s.---Argu:-.
1 ment In the Fishcr.c;ould case was re-
Sisumed before Judge JIM. Mullen. OF the
81 Hustings Court this morning Mr. Ezra
i 81. Tuttle. Of the law firm OF Tuttle;
Flint and Nichols. New York city, spoke
foratne plaintiff. His speech was clear
! and forcible, and dealt cot1prehensiyelys
With certain specific facts. He gave a
4 full account OF the Atlantic Development
d Company and it's alleged attempted de-
i struction by the Gould Ids. I was organized
35in New York In 1902, he said. for the
purpose sof selling the securities Of the
Virginia Passenger and Power Company.
+ lie read the record Of the meetings Of
4 the company. which have been filed In.
court. The Atlantic Development Com
panys contracted with the Virginia Pas.
scnger and Power Company to buy from
& ~ &6, 10000 OF It's fve-year bonds at o.,
y II Is claimed that all OF these bonds we're
delivered to the Atlantic Development
4 Company. The records show that a large
number OF them we're delivered prior to
december o. 1902. g 5ss s5
X on December q, 1902, there was an
d adjustment agreement made betweenGthei
Virginia Passenger and Power Company
a and the Atlantic 2 velopment Company
and the plaintiffs II and Miss Helen NJ. /:
Gould and Mr.. Frank Gould and others.
by which It was provided that absolute
control OF the Virginia Passenger and
4. Power Company and OF the Atlantic Do
.syelopment Company should be delivered
" u AIR.. Frank G nld and Miss Helen N. y
Il t5ould. s5 y IN b 34g
ssSs r he Goulds agreed and 3aundertook4sio8
wind up nd dissolve the Atlantic Deyel.
}opment Company. hfr.Tuttle declared
INIT the Gonlds took alltb assets 81. the
Atlantic Development Company, but failed
y to&pay Its debts or carry out = is obllga-
Sstions. The records 81 the Atlantic De-
4 vsiopment Company, filed In court, show
this contract With 1.-THE Goulds N t & q ~.
SI,cared tina 50, 90 ooo or the Virginia Pas
4 scngeri and Power COMPANY bonds had
\ been sold and paid forsfE The remaining
N $s,56o.noO. Of bonds had not been paid for.
The a atlantic Development Company had
4 secured numerous underwriting agree
s,ncnfs for the sale of 4 he bonds to- other
4 parties. Hi ~
The. Atlantic Development Company re-
ceived over s, 600, 900 common stock and !
y 100000 pre- ferred stock OF the Virginia
& passenger and Power Company for. its z
ii services In selling the $4,000 OF five
4 year. bonds at 20. s 5@s VI E}g3s3 #
Mr.. futile claimed that when Gould
\ got control OF the Atlantic DcvelopmentS
III Company b he took u possession ri OF f5S4 the
1 s3,5 coo bonds Of the Virginia Passenger
and Power Company. which had not been
1. paid for, and OF all the common and pre-
4 ferred stock Of the Passenger and Power
Il Company owned by the Atlantic Develop;
sSmenta Company. pa wing III cents on 4 the
dollar for the bonds In additionat to this
I the VI Gouldss now claim to own 81, 900. COO
s5of the floating debt OF the Virginia Pas. N
8scngers and Power Company.
Mr.. Tuttle's contention was that for
g all the bonds. all the stock and the float
1 ing debt OF the road, the G Guilds paid 4
only s. GJ1,0D0 He was severe in his 1
/ condcmnation ofSthe course iof the SGoulds
Elm the entire Brransact ton. claiming that
+ they had loaded the company with debt.
/ for " h!ch 5itBreccived little Orsnotiing.s5
;sa Mr.. Fl. vV.gSAnderson, OF counsel for de-
PENDANTS, followed Mr.. futile. His speech
was a legal argument on q demurrer. He
claimed that the bill filed by the plaintiffs
was insufficient In law for many reasons
Including mlsjoinder OF parties and multi
lfarIousness.sS Tiki ~ .lfS
4 He will speak gain III tomorrow and \
nrguc the merits and facts OF the case.
Mr.gAndersons speech was acknowledged
by all who heard 1t to have! been one OF
Very marked ability. d sis ~ "
s! b. HAa1PDEN-SIDNEY ALUMNI
B Il The Petersburg Alumni Of Hampton.
Sidney College are very much mi crested j
IN the election Of a. president to succeed
4 he Rev. Or. Richard NJ cIlNaine, resign
3 I'd. 81 DR.. dcIlwaine Is greatly beloved and
respected in this city, where he was
Torn and reared It Is hoped BY the
Petersburg Alumni that his successor.
$Mil be chosen with the greatest care
Ilnnd that the board OF trustees will follow
Davy Crockctts wisdom. and be sure
Il hat theyfare right before they go ahead.
"a friend of the college said to-da " that
/ q part OF The endowment was an ante
8tcllum''f bond of Virginia for one hum
I dred Thousand dollars, upon which the
State paid the college full interest OF
/ Elm thousand dol lars a year ,aa 1T does
4to all other colleges in Virginia, holding
these old bonds. He suggested that the
state should retire these old bonds and 1
Rive the college holding them century
TSLonds, yielding an Income to tho college
|, equal to that now paid. This arrange
slpents would not add n dollar Il o the
4 States expenses. and would greatly bene-
h fit the Gendownentssofa all the colleges
which have been SC generously treated
y.atlle State In the advancement OF It's
kcebt u. 81 {. Il.
CONTRACT FOR CITY BoHbbs.
Petersburg now pays the premiums
/ on&tEe bonds given by those OF ficials OF
whom bonds are required, "a Bids for tile
furnishing OF these bonds we're opened
Yesterday before the Committee OF the
Council on City 81 Ulcers Bonds. II is.
understood tina 1 Cuthhert Brothers rep
,rosenting the MAJ ional 4 Surety Company
,2off New York, were the successful bid
7ders The fears OF the community that
some OF the members elect of the BOARD
Fof Aldermen and Council would fail I'd
qualify within the required time were
to-day relieved by all &c the gentlemen
concerned taking all necessary steps, Ito
that end ss. i III II sss
PERSONAL NoTEs. /.
g \ D Mr. John q. sWeckert, Of Richmond a.
( prominent Sl and editor Of Hello.
n Rill ,p was In the city to,day Z. y.
Alessrs. sltterdlng, Huff and Northrupp.s
sota The virginia Passenger and @ Power
\ Company. attended torday's session Of
sthe Hastings Court. sss u
5S The funeral Of m RS, Marie elizabeth
i Morrison took place from NJ s Z II Paul'sY
"tV1aaa L