The Caucasian. (Clinton, N.C.) 188?-1913, 1911-02-23

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associates 20 sollow closely tie saIs
IN the snpgeme Coarx g tha Iait~
ed States 10 Test tho hon@ssg an6 vas- {
Idlty of the Ten-sAage secona Mort
gage sorsh Carolina Beads
After the decision 81 tAe Sapre1a
Court u that case. JUICE Hole cane
10 me a1d saId that be I'D followed /
closely the evldeaes IN The sapEsme
Coart. and O. course was familiar j
with the decision he further sid
that be and bis associates wege the
holders Of come other classes o.
bonds. OF almost exactly the same
nature an6 Of equal validity. lie
said that the bonds thai he and his
associates held we're part Of : class
that were widely distributed ~ beat
he could learn. and that he wanted
me TO become associated With him in
the collection Of such bonds.
II told him that III they were as
honest a. the North Carolina Second
Mortgage Bonds that would be very
glad 70 appear az counsel with him
or for him. He then said that these
bonds were SO widely scattered that
he felt that they should be pooled so
that the holders OF the same should
share In the expense. inasmueh Is
! they would necessarily share in the
benefits IL said bonds were collected
as the result OF litigation. He said
committee 10 advertise for these
bonds, and wanted to know IL /
would become associated with him In
advertising for the same. ! told him
that I was willing to do so, provided
| the facts were as he stated.
"He then further stated that he
had his attention called to several
other classes OF bonds which he felt
sure were equally as meritorious. and
none of which were carpet-bag bonds
Or tainted with fraud OF any kind.
md that he wished to advertise for
my such bonds at the same time.
81 told him that did not have the
ime to look into the classes Of bonds
which he referred, but that IL he
would employ Hon. Wheeler H. Peck
lam, who had been counsel in the
'ase OF the North Carolina Second
1ortgage Bonds before the Supreme
Court, and who was familiar with
he difference between the carpet-bae
, nonds and the North Carolina Second
Iortgage Bonds, and il Mr.. Peckham
! should pass upon the character o.
: IL of these bonds before they were
I -eceived, that then I was willing tt
: eppear for any class of bonds tina
Mr. Peckham would declare were
honest and against which there wa
no faint of fraud or corruption o
< my kind.
/ Judge Hole had an interview witt
q Hon. Wheeler II. Peckham, and Mr.
oeckham agreed to act as such coun
D sci. With this arrangement com
= t5lItedJ the sa5Ee-tf Sc arr .f,1so -e
ferred to was publisheAa
s ST objected to the words in the ad
: vertisement, Regulated bonds OF ev
: cry class of each State on tn
ground that it was an invitation 70
= earpet-bag and fraudulent bonds t
Re presented, and that would hav
a nothing to do with such bonds, di
d rectly or Indirectly. Judge Hole, O
the other hand, however, insiste
= that the holders of even honest bond
" would not know whether or not the
l. would be accepted unless the adve1
o tisement was broad enough to Undue
l. those who thought they han homes
J. bonds to present the same for consi6
It Grafton He further insisted that m
l. position would be thoroughly Pre-
= tected by the examination which MI
IS Peckham would give to each class c
d bonds as presented, so as to deter
d mine whether or not they would b
st accepted. After conference wit
D Mr.. Peckham on this point. I yielded
l. t"This advertisement, however, ha
/ not appeared for many days befor
If my attention was called to the fax
Is that some Of the Southern carpet-ba
a bonds against which there weI
charges of fraud and corruption ha
% been presented and accepted. l q
D. once went to New York to prote.
Is and to demand that the advertis,
o, ment be discontinued, or my nam
n should be withdrawn from the SAM
l when I reached New York
i'd found that Hon. Wheeler FL. Peel
r. ham was sick in bed. I was inform
h ed at his office that he was SO i'll thu
I no definite idea could be given as
a. when he could return to his of1c
p Then I demanded that the advertis,
s. ment be promptly discontinued, pent
N ing Mr.. Peckham's recovery. 1t Wa
1t discontinued and was never publish
Id ed again. Mr.. Peckham never r,
D. covered from that illness. He die
Id very soon thereafter.
l. AFTER Mr.. Peckham died, / WEI
rs carefully over all of the bonds whic
~ had been rendered to the syndica'
he in response to the advertisement, il
W GLIDING those in which Judge Ho
a and his associates were themselvt