The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1904-06-26
BRING SUIT TO
GET BACK MONEY
Heirs of John Shea Take Action
against R. 1. Tracy.
TRACY PLEADS INNOCENCE
CLAIMS ALL TRANSACTIONS lie
GAL-OFFERs TO ARBITRATE

Charges OF Improperly investing 5f.5y1
and then misapWOpriating the same
TO his own use, are made against Rus
sci L. Tracy. loan and investment
agent. iu a complaint about 90 De nled
iu the district court by John IT, crow
ley. as executor of the estate or JoAa
shea. deceased. AN Indian war veteran
and government emplcye. The pial4-
Tin declares that SHEA was so years oi4
al the time ar Tracy secured me
money for investment. ana tnaL 1n1
latter used his friendship with Slea 10
secure advantage of him.
AIr Tracy asserts that the transac-
ti0ns were both legal and moral, and
offers 10 have the matter settled by an
arbitrator. Should the arbitrator ma
that there is still anything due the es-
tate. he is willing 90 pay the amount.
Charges in the Complaint.
summons iu the action was served
several days ago by Attorneys Nc
GuTrin q Gustin. The complaint states
that John Shea. who was "a resident OF
Laramie. Wy0.. died Sept. 10. 1903.
Later letters of administration were
granted John r. Crowley in the district
court OF Albany county.
Iu the year 1898, the plaintiff asserts
the defendant was engaged ln the mort
gage loan business i'm salt Lake city,
and was a close friend of the deceased.
AT the time of Shea's death he was
over so years old and in feeble health,
due 10 numerous wounds received in
Indian battles. Through the relations
that existed between Shea and Tracy,
ii is alleged, Shea repOsed 5reat Iaitn
and confidence In his friend
During the wears OF 1898 and 1893.
Afr, Tracy is alleged to have secured
$1,000 500 and $500 on three occasions
10 be invested, stipulating that he
would guarantee the interest to the
time OF shea's death, when the con-
EraCt should cease.
= The complaint charges that Mr. Ira
~ caused the deceased TO feel secure
by Offering as security a prOmissory
note purporting 10 have been executed
by John Jefferson for $1,000. and Sc
cured By real estate mortgages. a note
for 500 was given by Harry Evans and
another for 81 500 by J. j. Foley. both
secured i'm the same way.
Use of False Names Charged.
Ii is averred that the names Of fic-
titous persons were signed to the notes
and that the real estate described i'm
the mortgages was practically value
less. 1t is further declzred that Shea
remained in ignorance of the true value
of the notes and mortgages up to the
time of his death. The petition further
states that Mr.. Tracy misled the de-
ceased by promptly renting from
time 10 time the accrued interest upon
the notes. According TO the plaintiff.
Mr.. Tracy has used the money and
made large profits through the use
OF it..
The court is asked to compel the de-
PENDANT to make an accounting of the
money and repay what may be found
due. and that the court grant such re-
lief as il may deem meet.
Mr.. Tracy Explains.
AR Tracy last evening declared that
The transactions were strictly honor
able and that the suit is groundIess.
He declared that the viii under which
Crowley is seeking the judgments was
made i'm CrOwiey's favor just twenty
sour hours before Shea died He fur
Their declares that Shea at the time
was living with Crowley.
Through his attorneys. stephens &
smith, Mr. Tracy made the following
answer.
With reference To- the Tracy and Crow
lCE matter. AR. Tracy has presented all
o. his contracts and correspondence 10 us
ana given us a complete history OF the
transaction and of his relations with shea.
and after examining his records. con-
tracts and spondeuSce, and hearing
his statement. we are of the opinion that
DE- is under neither legal nor moral iia-
biILy.
The mortgages and notes held by Crow
leE as administrator were assigned with
ont recourse Under d written contract
ana coTrespO whereby Shea was
~ receive until his death O. certain rate
FCl interest. and Tracy and his heirs.
executors and aamini-L ratoTs were To- be
liable for the same up 90 thc time or
Slea's death. ana thereafter GO he under
no liability either for principal or in-
tCIesr.
This arrangement was fully understood
b. Shea and was agreeable 10 him. u orr
der that be might have o. certainty of
support from the guaranteed interest and
was evidenced Dy CORES pDluCuce and an
e--pTess contract.
Ar. Tracy, however though fealIUE that
h. Is under no legal or moral obligation.
Is nevertheless perfectly willing % sub
NJ @ the question of both legal ana moral
obligation l0 amy faiI-miudcd arbitrator.
and viii abide by the decision of such
arbitrator upon both grounds. and should
the arbitrator find that me is not legally
liable, but THAI as between man and man,
Dir. Tracy should make any payment
% uateEer be viii not stand upon his legal
rights but viii abide 10y any decision such
G. 1iLraE0r may make,