Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1905-12-16
FUNDS ARE DISTRIBUTED
About $4,000 TO Go 10 Stock
holders Of loan Association.
DECREE ENTERED SATURDAY
Paid.up Shareholders to Get 80 Per
cent. of Stock New Evidence
In Suit Over Note.

cent. of Stock New Evidence
In Suit Over Note.
In the Circuit conrt last SATURDAY
= decree making a distribution of
practically all the remaining funds ia
the hands Of Attorney a. 4. MAIDEN.
oousch and Charles 4 Young, trustee.
OF the Martinsburg Building d Loan
association, was handed down, the
amount involved being about IS, SEQ.
This decree practically winds up the
affairs Of the defunct association. as
there remains very little property u
be appoItioned amone the stockholders.
ATTORNEY J. M. Woods tad charge Of
the work of the spportionment of the
funds. and labored for nearly - con
sacutive hours. with the help OF AS.
sistaut Clerk Henson, to complete the
difficult task in time TO get the decree
through the present term OF court
the work was. finished before noon to-
day.
Mr.. Woods stated that the s., 500 to
be apporiioned under this decree will
give many shareholders of the tuild-
ing and loan concern about % per
cent. of the face value of their stock.
Those who will benefit under the de-
cree are all those whose stock was
paid up to the time the company went
into the hands of the trustees, or W no
Those who were in arrears to an
amount equal to 90 per cent. OF the
lace value of the stock won't be beue.
ficiaries under the present decree. The
work of paying ont the money Will be
commenced in short time bv Trus-
tees Nadenbousch aud Young,
NEW TURN TO SUIT.
1t is probable that the suit of
Rothwell g. Lovett against Joseph
Shaffer, to recover the face value of a
note and interest for number of
years. involving about s1l5. which
was tried in the Circuit court and re-
suited in verdict for the plaintiffs
will be set aside and the proceedings
dismissed, owing to very important
evidence recently discovered, which
seems to put an altogether different
! light on the whole transaction. AT
the time of the suit Mr.. Shaffer de-
clared that he had paid the note, Civ
| ing his check to ole of the plaintiffs
about nine years ago. Neither the
check nor any record of it in the banks
conld be produced. however, although
the plaintiffs stated that the suit
would not be pressed if such evidence
OF payment could be shown. The
suit went against Mr.. Shaffer' and the
court overruled motion for new
| trial.
However. Mr.. Shaffer was not sat
isfied, and began to search among
| his old checks and bank books. This
search resulted in finding an entry in
bank book, showing that he had
paid to Roth we'll e. Lovett u check
| for $50. %. the amount of the note, a
month or two later than he had stat
ed the check was given. A search of
| the records in the Citizens, bank also
showed like entry, which is regard
ed as conclusive evidence that the
debt had been cancelled about the
time MIR. Shaffer claimed. In view OF
this very strong evidence the attor
news believe that the matter will be
dropped.
STATEMENT OF THE TRUSTEES.
Attorney A. q. Nadenbousch and
Mr.. Charles A. Young. trustees of the
Martinsburg Building & Loan associ-
alton, furnishes The Evening World
with detailed statement OF the re-
ceipts and disbursements of the funds
of the association. including the item
OF SO ,s91.75 now being distributed.
There yet remains about 81, 600 worth
of property to be realized upon and
distributed, when the affairs of the
association will be closed up. The
statement is "a follows:
MONEY RECEIVED.
kilbourne Co.. s23 ,28l 70
Middlesex Mill, l7.475 IS
Brooklyn Brass Works, $3.50 50
Sale Brass Factory, $3.50 90
Rent From Factory, 5,517 So
Fitz Foundry. 1900 90
Rent Foundry, S55 0O
Crawford Co., 1867 02
w. III. Crawford, 2,54O SO