Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1913-10-11

and threatened to leave, bat was
paid ID full, he also assisted III TAX.
ing the inventory, but was not Ger
tain as TO the number d sets OF
wheels and axles.
State Fire Marshall Ellison said he
came to Martinsburg to make an m-|
yostigatou. He said he talked with
Claude W, Stewart about the Gre and
looked at the inventory He also
made memorandum OF the totals.
INSERT STATE STILL HOLDS
ABOVE JUSTICE THOMPSON
Charles CAN'T was the last Witness
before noon testified along the same
as did Mr. schrader.
Afternoon Session.
Prosecuting Attorney ", W. Down
ey, receiver for the Stewart Vehicle
Company, stated he was one OF the
incorporators and a director from
the beginning until he sold his COM
mon stock about the first OF June.
1912, and was also treasurer for
about one and one half years. from
June 1912 until the fire; he was
preferred stakeholder; two classes Of
stock-common aud preferred; didn't
know how much common stock was
issued but between $4,000 and ST..
goo of preferred stock was issued
was treasurer OF the company on July
1, 1909. according To the earliest; dur.
ing time he was treasurer the officers
were X. N. Stewart, president. Lewis
r.. Byron, OF Hagerstown, vice presi.
dent, part of the time; w w, Down
ey. secretary. Il. - Stewart, treasur-
er. part of the time; G. w Stewart,
general manager all The time and
vice president part of the time. that
was up to June 1912, then G. H., liar.
ris was secretary and treasurer, Mr..
Bender and G. H. Harris we're dlrec
tors; CLAUDE w. Stewart was vice
president at time or the fire.
After the fire witness said he was
appointed receiver by the circuit
court. September n, 1912. and he took
charge Of the books and papers
Among the books there was an inyen.
tory book. which was given to Mr.
Stewart and Mr.. Ellison for their in
spection; witness identified inventory
book OF June 30 1912. was acqualnt.
ed with hand writing of Claude w.
Stewart but on one page he failed
to IDENTIFY II, and didn't know in
whose handwriting it was. The en-
try "ss9.509.0i inventory Of june 80,
1914 the witness couldn't say II was
made by Claude w. Stewart; never
looked at inventory until he saw 1t in
court room; as receiver he received
the hooks containing the amount OF
disbursements, bills receivable, etc,
and selected the books
Mr.. Downey said as receiver he in
stituted proceedings against the
stockholders and creditors. and Cap.
tain w. b, Colston was appointed
special commissioners and his report
was confirmed by the circuit court at
the April term, and II shows that
there was s43,500 of common stock.
and $4,000 Of preferred stock max
ing S71,100, and the par value was
500 share; that the debts due
against the company amounted TO
sos, 1926 as of Apu' Is. 1913; and
the amount OF the bills receivable
we're not shown. Some of the indebt.
edness was preferred debts and some
not: debt due the Maryland Surety
and Trust Company by note of $780,
900. Dec 30. 1911. and secured by
$4,000 worth of bonds which were
secured by deed of trust on real s.
tate and insurance on building
Before Mr. Downey left the witness
stand he said II the insurance was
paid in full the parties holding the
comm. 1 stock would receive nothing
while the preferred stockholders
would receive but little.