Putnam patriot., 1911-02-03

in when deal was made. Had heard
Arnold didn't pay other notes. Paid
witness $500 in May. Did not go to
Arnold about young ladies' notes but
to buy property. Said he did not have
young ladies notes in mind when he
went to buy property. Asked why he
did not pay money, said he didn't
have it. Asked why he did not wipe
out some of the Indebtedness of Arnold
TO him instead of the young ladies',
said he might have done that. Asked
If he would have paid the young ladies
If they had lost their money, said did
not know. Said his purpose was not
for getting what he could before Ar.
mold got where he couldn't pay. Asked
If IL wasn't his primary motive in 60
ing to Arnold 60 get the young ladies'
money, said no. Pressed on the point
said IL might have been secondary mo-
tive. Did not think Arnold was In n
flourishing condition at this time nor
even six months before. Talked mat
ter over two days before deed was
drawn. Had conversation with young
ladies before he saw Arnold. The
young ladies' money had been with
Arnold over year and they wanted
some and requested him To get il. He
did not demand the money of Arnold.
ntInft EnAu xphV Eun of tho Enpnu
ladies wanted some money and he
thought this would be a good way to
get ii. Got the girls permission for
the deal. Presumed ladies acquainted
with Andem mortgage. Nothing said
about the mortgage when the deal was
spoken of. Witness a preacher. Ar
mold not member of his congrega-
ton. Was member of Methodist
church. The attorney said he had
asked the reasons for that transfer and
told witness If he had any reason, to
suggest 1t. Witness said he had told
all he could. He might have turned
in his own note but thought IL was a
good time to terminate the transactions
of the young ladies. Might as well be
terminated with them rs with himself
and let his stand. Question-"Wasn'
the reason that you did this because
you had advised the young ladies to
put money there, knew Arnold was in
falling circumstances, and might not
be able to get money out later" An
swer--@No Isir." Asked why he did
not have his own Indebtedness Cancelled
instead of giving cash, said because he
knew Arnold wouldn't accept it. Ar
mold did not say 50 at this time. Wit
ness took 1t for granted. Possibly
witness thought this would be good
time TO get property rs he knew Ar
mold wanted some money on account
of what witness had heard of him
about town.
Henry X. Loring of Wauregan,
whose claim against the Arnold estate
of S. $500, was examined relative to a
check for 81 800 which was dated June
Is. He admitted receiving IL, and told
of depositing it TO his account in the
Windham County National bank in
Danielson. Mr.. Loring said that this
money was on a note due May 81, and
that he had secured IL from Mr.. Ar
mold after much urgency. he saiG he
had not heard of the Andem mortgage
at the time. The amount was endors-
ed on his note.
Albert Shoales of Wauregan told of
peculiar transactions with Mr.. Arnold.
Several years ago Mr.. Shoales gave
Mr.. Arnold Dough- as Lacy stock GER
tificate of face value of $3.50, and
"Baker" note of the same amount in
exchange for Mr.. Arnold's personal
note for $500, with interest at 6 per
cent Later he had let Mr., Arnold
have eight shares of New York Cen
trail stock, which he had bought at 1872,
with the understanding that Mr.. Ar
mold was to operate on the stock mar
ket with the little block, buying and
selling, the two TO divide profits. Mr..
Shoaes said he had received $500 from
Mr.. Arnold late in May. He had not
heard that Arnold was in financial
difficulties at that time.
Shoales said he believes Arnold is an
honest man and that he would not hes
itate to do business with him again.
The hearing was adjourned without
dale,