The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-12-01
w. ]. Edwards Takes the
Stand in Case to Re-
move Him.
Especial to News and Observes.

(Specla1 TO News ana ODSefNe1.)
Lumbertcn. N. c., Nov 30.-The
hearing in the case of the Southern
Saw Mill and Lumber Company on
motion to remove Receiver w. j. Ed
! wards was commenced today az :
@ clock at the. court house before the
| special master, H. F. Seawell, to whom
| the matter was referred by Judge
! Pritchard on the first hearing at Raj
! G gh, November 18th. for the purpose
Of taking evidence and finding the
facts.
The complainants. Robert /. For
rest and Others were represented by
! their attorneys, r. T.. Lee, EST, of
I.umberton. and Iredell Meares ESQ.
of Wilmington. The defendant w. j.
Edwards, was represented by his
/ council, Duncan E. McIver, Esq, of
Sanford. and by Mcintyre and Law
renee and Mclean and Mccormick, OF
| the Lumberton bar.
/ After reading the pleadings and al
l{dav.ts and some preliminary discus
/ S on. the compliments put up IN the
/ stand the defendant receiver, W. J.
| Edwards Mr.. Edwards admitted that
| he was the receiver of the Southern
/ Saw Mills and Lumber Company, To-
Ncated at Kingsdale that he had built
| and principally owned the Philadel-
Iphia Construction Company. which
! has 2 tramway over which it delivers
| logs TO the Southern Saw Mill and
Ctner mills.
| He admitted that he had utilized
| certain receivers certificates which
+ The court had authorized him to issue
for the purpose of buying timber OPP
| tions as collateral to his personal notes
and the notes of the Construction COM
! pany i'm order to raise money 20 build
/ the tramway of said company. The
/ amount of the receivers certificates
| so used was about $4,000. He ad-
united that hc had constructed the
! Bu lderS Lumber Company which
was i'm the vicinity of the Southern
| Mill and Lumber Company, after he
| Cecar7e. receiver that he had borrow
| ed money and put in some of his own
! money 10 construct it, that he Dor
| iowed the money from the United
! Lumber Company Of Boston and some
! time in the past sutn1ner all OF the
stock of the company had been is
| sued to the Boston concern, who now
| owned il. He had used receivers GER
| tificates as collateral in borrowing
| money to purchase some sixteen
| tracts of timber in and around Kings
| dale and which he bought in the
name of himself as president of the
| Philadelphia Construction Company.
/ and in the name of the Builders Lum-
J.
! built the tramway and bought the
! land in these names as he was an en-
/ dorser on the notes to which he had
J given the receivers certificates as
! collateral, but that. all this he had
| done not to advantage himself nor the
! Builders Lumber Con: pany but solely
! for the purpose of helping to log the
! Southern saw mills of which he was
/ the receiver. He admitted that the
! construction tramway charged $3.50
/ for the stumpage and 81 for transport
/ tation of logs, making $3.50 and that
! the Southern Saw Mills cut. hauled
| and loaded the logs on the tramWay
at cost of $3.50 Ia less $3.50, maxi.
| ing the logs to cost the receiVershlp
about Sc at the mill. He said this
was a saving to the mill over their
previous arrangements, and without
the tramway the mill could not be
| kept q going concern. He said that
! all these matters had been reported
| to the court.
Asked by counsel. if he had ever re-
| ported it in like detail to the court. If
/ so by what report. He said he had in
a general way told Judge Purnell of
the fact when the Judge visited the
| property this past summer. He also.
said that his mill had sold box faced
| logs to the Marietta Lumber Company,
! at SO per thousand but he fixed this
price because he regarded the box
| faced logs as valueless. The Marietta
| Lumber Company is owned by T. c.
! McNeely. his superintendent. He was
asked if the receivers certificates
| which his counsel offered to return at
the hearing November 18th, were at
/ the time in his possession. He admit
! ted they were not. He said
ten thousand of them were in his
possession, that he had redeemed
since the hearing some 5000 of them,
/ and that there were 5000 still held
by the Atlantic National Bank of
+! Wilmington, as collateral to his notes
which he would redeem, and that he
/ would turn over the whole issue of
| 10000 certificates to the court in a
few days Mr.. Edwards was examined
| by Iredell MeareS and the examination
was not completed at the conclusion at
/ o'clock He showed a Willingn ess
to answer all questions frankly. eve
| where they appeared to be to his dis
advantage and he said throughout his
| examination that he had acted only
for what he believed to be the best in
| terest of his trust both as receiver OF
| the saw mills and of the railroad. He
| further said that he had not used the
| certificates in the manner stated w.
til he was advised by his counsel, w.
II. Day. Esq, of Raleigh, tnat II
would be proper for him TO do so.
| The hearing was continued until $50,
tomorrow morning at which time the
examination of Mr.. Edwards VII be
| resumed There are many witnesses
! present to be examined by both sides
and it is probable that the examlna-
/ ton will consume the balance of SIC
week. Much interest is being mani
tested in the case here. The specia!
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