The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1910-05-23
AFFAIRS OF ANDY JONES
Continued From Page One.


fall of 1908 the Pierce County Fair
association was incorporated for $15.-
600 and the property in question was
decided by A, H. Jones to the associa-
ton. Jones was to receive the pur-
chase price Of $4,000 from the sale of
stock. Up to the time that he alb
seconded about $4,000 worth of stock
had been sold by Jones. The trustees
report shows that shortly after Jones
left f. J. Estead caused to be issued
to him as secretary and to fictitious
persons the balance of the stock, about
$4,000, worth. An action was
brought to recover from Elstead and
also an action to set aside the con-
veyance by Jones of the fair grounds
to the association. EIstead transfer
red the $12,500 worth of stock to the
trustee and the Jones estate is in con-
troll of the corporation. Steps have
been taken to re-organize the associa-
ton and at a meeting held for this
purpose bylaws were adopted and r.
Fl. Bosard, of this city, was chosen
president and c. w. Twiford secretary.
The trustees report states that in
the near future it is hoped to sell the
entire stock of the association for a
considerable amount of money.
The home farm which has been add
ed TO the assets Of the Jones estate
was originally the property of DR.,
Wheeler of Grand Forks. In the sum-
mer of 1906 a contract for the sale of
the land was executed by DR.. Wheeler
to e. ]. Elstead. The contract was
never put on record, and during the
years 1905, 1907 and 1908, A. H Jones
was the ostensible owner of the land.
He assumed full charge, cropped it
and received the proceeds from the
crop.
Shortly after Jones absconded a
deed from DR.. Wheeler to the wife of
e. ]. Elstead appeared of record. and
few days after a quit claim running
from Elstead and his wife to Matt Ell
stead and A. w. Liver was placed on
record. Later Liver transferred his
interest to Matt Elstead, the father of
E. J. Elstead.
Upon Jones' return to this state aft
er his enforced absence he procured
Matt Elstead, the father of r.. 7 FL
stead, to execute mortgage for $4,000
covering this land to George Mahon
OF Fargo and received the proceeds.
The trustee Of the estate brought ac
ton against all the parties named in
foregoing transactions jointly unon
the theory that the land was the prom
erty of Jones but had been taken in
the name of e. j. Elstead for conNen-
fence sake. Before the matter was A.
nally submitted to the court Elstead
made proposition to settle which
was accepted and deed for the land
was executed to @. w. Twiford nv
Matt Elstead. In the settlement Of
this phase of the estate it was found
advisable and necessary to avoid fur
Their litigation to satisfy a mortgage
of $4,000, issued by the Elsteads to
George Mahon.
The property as IL now stands has
a first mortgage of $4,000 and interest
commission mortgage of $500 and
third mortgage of $3.50, given to take
up the land loan. 1t is estimated that
the equity of the estate as it now
stands in this land is at least $4,000.
With the exception of the assets
named above the estate stands prac-
ticalIy in the same condition that il
did at the time of the trustees first
land and is making strenuous effort
to dispose Of it before the next in
terest payment date as the trustee be-
lieves this to be the wisest course to
pursue in the premises.
There is great deal of interest all
over the state in the BANKRUPTCY pro-
ceedings In the Jones estate. Jones
had the reputation of being one OF the
shrewdest trades in North Dakota
and many of the deals that have been
brought to light in connection with
the closing up of the estate amply
bear out the reputation he has in that
regard.
Jones Is said to be taking his con-
fnement at Leavenworth pl1ilosophic-
ally and is nervy and game as ever.
He writes all the letters he lis allowed
to. but as the prison authorities limit
the number and information regard
ing his affairs ID necessary in most of
them, he speaks but rarely of himself
or his surroundings.