The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1906-09-01
JAMES H. BRADY
MAKES HIS EXPLANATION
TELLS THE STORY OF HIS TROUBLES AND DEALINGS With
SPAUlDlNG- HISTORY OF CASE

DS iSdoii Co W Sohiply Win INC lClICI
of the law in serving his sentence.
He was arrested on the 14th day of
April, 1897. At that time the Chi
ca|o Title & Trust company, which
has a capital of 100000 and Is
differed and composed of the most
responsible and leading men of Chi
cago, was appointed receiver of the
Globe Savings bank, and as such took
possession of 900 of the Idaho
canal bonds that Spalding and the
bank claimed to own. / bought that
receiver of the Globe Savings bank,
at public auction, on the open board
in the city of Chicago, after the same
had been properly advertised for 80
days by the order of the court, and
there was a large number of men
present at the sale, all of whom had
an opportunity to bid higher on the
bonds, If any of them had thought
them of more value.
Power Bonds.
THE Pocatello Power & Irriga-
ton company bonds and SIS of the
Idaho canal bonds, were purchased
from the governor, the state treasur-
er and the auditor of the state of
Illinois, who were authorized by a
special act of the legislature to sell
the stock and bonds for whatever
they would bring in the open market.
The state officials were men of
unquestionable integrity and all three
Of them afterwards were reelected
to the same positions that they occu-
pied at the time the sale was made
and when Spalding charges that class
of men with fraud he is simply doing
so to have some kind of pretext to
get into court for Interior purposes.
Spaulding's Fraud.
= 'Thirty-three of the bonds | owned
at that time; eighty-five of the out
standing bonds purchased direct
from the holders of the same, and the
balance of the issue. together with
$4,000 worth of bonds that | had
bought from the state officials and
the receiver of the Globe Savings
bank, were declared by the court to
be null and void, for the reason that
Spalding had fraudulently procured
them from the Idaho Canal company
without giving any valuable consid-
grafton for the same; and in this
connection l might say that when
,ame to investigate the conditions of
the Idaho Canal company, | found
hat after l had decided my property
10 them, they had raised the capital
stock from 100000 to 100000,
and on the same day that they did
hat they wrongfully distributed $780,
300 worth of the bonds, which We're
o be left in the treasury for the pur-
,ose of acquiring other property, of
which amount Spalding received $22,-
100 without any consideration, and
IN other occasions Spalding fraudu-
emily procured the balance of the
entire $141, 900 worth of bonds that
we're to be left in the treasury, from
all of which | never either directly
or indirectly, received one penny's
benefit.
Saved the Stockholders.
las for the Pocateiio rover & Irri-
cation company, everybody knows the
condition that l found that property
| n, when | came here. The river
vas dry and there was absolutely no
hope of making the plant worth a
dollar or pay interest on anything.
| rhe people of this city all know the
| struggle that | had to secure power
from American Falls and in order to
ing and his associates had attempted
to defraud, we had the American
Falls Power company lease the Poca-
tello Power & Irrigation company
and guarantee the interest on the
bonds so that instead of defraudine
| the bond holders, we simply saved
them from the humiliation which
Spalding and his associates would
have brought upon them. OF course
we are still promptly paying interest
on these bonds.
NOTICE TO VOTERS.
Voters of Middleton precinct, Cam
yon, county, Idaho, are hereby mott
fled that | will be at the Independent
teleDhone office. Middleton each Sat