Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-12-15

ument ia signed by Henry r. Bell. as
president. and A. F. d, y, as treas
urer of the Citizens TT
and was recorded at the R'verhead
Court House, September 10, 1912.
Hughes first alp AIRED as president
of this corporation August 3, 1912.
When the cancellation of the $3000,000
mortgage was recorded William II.
Young appears as secretary
Hughes Appears First.
The certificate showed that two
thirds OF the stockholders gave their
consent to a mortgage to be given to
the Virginia Trust Company. of
Richmond. Va. The acknowledge
ment to the signatures of Hughes and
Young on this document was taken
at Paterson on August 8. 1912, fore
Charles p. Lynch. as master in
chancery of New Jersey.
Also before Lynch on the same day
a mortgage dated August 1. 1912.
given by the Tangiars Manor Cor
pora ton. signed by Hughes as presi-
dent and Young rs secretary and the
Virginia Trust Company by II. w.
Jackson, president and John Fl.
Southall, acting secretary. and also
signed by James Mullen as trustee Is
for 81 900. 900 and rec'ti part that
the Tangiers corporation desires to
borrow for the purpose of discharg-
ing and paying certain debts against
the company and for its corporate
purpose not exec ding 100000" The
mortgage also recites prior mortgages
of S215,000 and SIT 500 made by
Charles f. ynch. These two mort
cages ere believed to have been for
the original purchase price of the
land under the ontions held by Herd
and they constitute the first or pur-
chase mortgage on the property.
Another Mortgage.
The next thing appearing on the
books of Suffolk county bearing on
the financial deals of the Tangiers
company is a notice that under date
of july "a. 1912. two-thirds of the
stockholders of the Tang,ers Manor
Corporation have given consent to a
mortgage or deed of trust given by
the corporation to the Citizens Trust
Company, and Joseph D. Roberts. Of
Paterson. The certificate is dated
August 2, 1912. and is signed by
Hughes, as president. and Young. as
secretary. the same two acknowledge
ing Z before Charles p. Lynch on
August 8. 1912.
Following this is certificate of
the Tangi RS Manor Corporation
signed by Thomas Gresham vice
president. and A. c. McCle Ian. assist
ant secretary, recitlng that the Cit
zens' Trust Company having decl ned
to act as trustee the Virginia Trust
Company was selected Gresham. the
president of the Tangiers COM
pany. is a resident of Richmond Va .
hoe HaN.
amount of the company's stock some
tire in 1912.
The terms of this mortgage, which
is dated August 2, 1912 and Is made
by the Tangiers Manor Corporation
to the Virginia Trust Company and
Joseph r. Roberts as trustees. Is sim
liar to the first one with the excep-
ion of certain recitals as to amount
and in the following clause: Where
as. the Tangiers Manor Corporation
desires to refund certain of its 6 per
cent. mortgage sinking fund gold
bonds. dated March 10, 1910, to the
amount Of 81 los on, by issuing and
exchanging therefor twenty-six 6 per
lent sinking fund god bonds In an
equal amount secured bv third
mortgage on all its pronertv" Fur
ther t Is recited that this mortgage
IF August 2 1912 Is Subject TO the
prlcr rights terms and conditions
conferred bv the Virginia Trust Com
many and James Mullen. as trustees.
bv the indenture MORTGAGE or deed of
tr"st Of August 1. 1912 This mort
~aee is signed by Hughes as presi-
dent, and Young, as secretary. of the
IA -g'ers MAJOR Corporation.
The morteaees of August I and 2
md the consents authorizing them. as
we'll ms the notice of the refusal Of
the Cjtlzons' Trust COMPANY 10 ac-
copt third mortgage. were all re-
-orded on September 7 1912 IN the
suffolk County Court Horse.
To oil these agreements Hughes
rave his consent and 4 Is noirtod ont
by interested parties that HUGHES
certainly knew. in Apr'l. 1910. that
uerd was entitled to bonds Of thu
Tangiers Manor Corporation, despite
the fact that he now denies all know
edge of the transaction IN a~swer
to the contention of Mr.. Miller that
the Longworth ASSIGNMENT and the
assignment cover the same
500, 900 worth of bords 1t Is pointed
out by Mr.. Gil'ie that this g limos
sible. as the Longworth people wera
not assigned ANYTHING they
had received from Herd in payment
for their property over to Robertson
to hold as security for loan mad t.
Herd and In which the Longworth
syndicate had no interest.
Back Of all this tangle about as
signments alleged to have been MADE
by Herd and the denials made by
Hughes and his counsel Is sti an
other tale of how the whole deal came
about. Briefly, 1t was In this way
story of the Deal.
Herd. for many years has been a
real estate man in New York city,
and In the latter part of 1863 or very
early in 1910 obtained option on some
property that is now part of the
Tangier's Manor Corporations hold
ings at Tangier. Long Island, about
seventy miles from New York city,
This property comprises about 10000
acres. and at the time Herd got his
option on it was entirely undeveloped
and was sought by many persons.
According to a person who is close
to ell the parties involved in the deal
and knows the ms and outs of all the
several transactions, Herd did not
have enough money to swing the
proposition alone. He met Quimby,
who is bond and real estate sales
man, and interested him in the propo
sition Quimby, like Herd, did not
have enough money to handle the
proposition, but through mutual
friend in New York city Quinby be-
came acquainted with Senator
Al, rt.aar