The Alaska citizen., 1911-03-06
Dep0SitOrS are Offered
 Securities by Barnettc

the sum of si per acre, amouurinc 70 S75.a91 | have invested. all r.fd. in that property the sum of S22f.2l&fS. l have received and re- fused an oleT of $i' per acre therefor. CT $7f>.uuu. | would to- day refuse an offer of $1no per acre cash
 The contract between Mr Ward NIT. BecEs anI myself which ycu informed mo y0u .rjeavarci 10 explain at the meeting last evening provides that between he 18th day of November 1909, and the 18th day of November. 1911, l shall advance to those gentlemen, 10 be expended upon the property. he sum cf So00euD cash. of which sum to date I have advanced the sum of $11o.oee. every dollar of which is to be expended upon the improvement cf the property The contract does not compel me to advance any more money unless see fit but in any event am to receive back all mancy~ SO ad- vansci together with iu crest there on at the ratc of l2 yer cent. per annum. from the date of advance meut Prior 10 tle making of that arreemen. I advanced the sum of $2G.025 for Improvements on the property. which | am to also Tc- ceiye back with in'er. st thereon at the rate of 12 per cCu- per annum not later than thc 18th day Cf November. 1@if If do not ad- vance any more monar than | have now advanced, ! will receiyn back. not later than the 18th day Cf No vember, 1911. principal and interest amounting 10 $323.$a6.G3. If ad- ;ance the balance provided in the contract. that is. s9ro10 more. | will not later than the 18th day of No vemLer, 1914. r Ceive back in cash. A49 SoG63 If Ward and Beggs live up t0 the agreement and return me
 he money I advanced and interest " the 18th day of November. 1911. | am 10 de~d them A per cent. of the property. and | will then retain II Der cent of the property and receive
 he sum as stated, $ttA,N G.G3. Ward md BegEs were originally entitled tC @ per cent. and myself Il per cent. md they agree, if they do not repay ne the moneys advanced. 70 forfei.
 heir entire interest in the prupcrty. Q be mern specific. by rhe 18th 0f November. 1911. if I do not advance my more money. I will retain II CT cent. cf the property ani re-
 cive $322. 2.S0Gc2 CT l will own the tntire property. If advance ths ur,hor sum of 29oGol hy that date [ will retain II per cent. of the property and receive &t'9S"6.f2, or will own the entire property.
 This is the ,n'E r.al os'a'e l D2-n anywhere. excepting my ro-i- 'encc property in Fairbanks anl o.. in size 7-X1fa feet. sifHa-o on 'econI avenue between Cushman nd Lacy. and cn,-half interest in 2 ot on Fir7r avenue in Fairbanks Ipon which Mogeau's fish markc' LOW stands. a one+hir1 iufcrcst in he Dome group on Dome creek. and three-fourths int resr ill the Iea- ella group on Vault ere k.
 The property unan which stands he stores of NJ. 4 Pinsha and the imperial cigar store. Icing about 5u cet in width and rTryuI ling 70 Sec
 nf avenue. belongs 10 Mr.. Bar 'ette. she having acquired same at he time the x. c. company uurohas- I my trading post.
 Tn answer 70 yogr question rc- -arding the property situate in the ircle precinct. will SaF that all 'roperties included in that deal are 'nder options from he owners to he purchasers, and there has hcCn aid thereon the sum If apprOyi- nately s16,00o, leaving a balance of lbout $114.00o to be paid. making l total purchase price iu the sum
 f about s120.ooo The sum of about '6i,0o0 has been expended in the purchase price of hylrdulic piping, machinery, lumber, provisions, horse eed, horses. sleds. labor and freight. making the total eNpcn@iure upon he property of aprrvN.u-atsl $ND,- co Associated with men in the lriginal deal were Mes-rs. (. A. Her ngton and Nj. W. LoycriIge, they wo own 40 per cent. and l own 6O .er cent thereof.
 Those positions have not changed, except that l conveyed my interests herein to Mrs. BaTnette ill the
 bring of 1910, and she has since
 onveyed her interest to Mr. E. l.
 ensen for the purpose or raising
 nd upon which she did raise the um Cf S40.000 cash. which l re
 uired in order to deposit the sum # S50,O00 cash, which l deposited ;ith Mr F. s. McCord for the pur- pose of pro rating with d-pOsitOrs, which arrangement was not in keep ng with my conclusions to pledge III my property in order that the
 epositors might be paid in full.
 The title to this property is now the names of the original owners
 nd the deeds thereto are in es-
 row with the x. C. company at he N. A. T. & T. company ground, which is in escrow at the Crocker National bank, San Francisco.
 Tt will be readily seen that the itle to the Circle property is not such position, nor have such con rol thereover or interest therein, hat I could pledge same. and if | had it would simply be pledging the ,ptions upon which future payments must be made in order that title might pass.
 II personally hold some mortgages and promissory notes and accounts, practically all of which are over lue of uncertain value and not bankable
 Nobody holds any property of any kind anywhere, in trust for Mrs. Darnette or myself, and I am not covering up or refusing to disclose anything in relation to the property interests of both Mrs. Barnette and ,pycalf