The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-24

Mr.. Ferguson detailed In his letter Il
timber enterlIrisr of Dr. Hills IN which
Mr.. Ferguson said he discounted notes
for $i0, o0o for Dr. Hills and "%disbursed
mos; OF the money among your creditors
10 save sou from trouble and litigation
Later, h, wrote, part Of the timber in
stead Of yield ne $500. 600. as Or. Hillis
expected. yielded only $50, 600 and the
person who contracted TO purchase the
rest declined To carry out his contract.
"Out OF the proceeds Of these notes.
the letter went on. Il gave YOU $1,000 or
more for your personal use before YOU
sailed for Europ. for "A full summer va
cation. | remained to struggle as best
] could with our complicated affairs.
shall never forget the pathetic hour
in your paylor the day after your re-
turn from Europa, when you sat with
clasped hands and wept as tn" sad re-
port Of the cruisers was untolded TO you.
You felt that financial ruin was !neNltd-
BILE. You had purchased the timber
without securing accurate ana reliable
reports and Therefore the sales which |
made for you fell short after expert
cruisers had reported"
'Instead Of holding, as I had a good
right to do, the commissions which ] had
legally earned and which | was not under
any legal or moral obligation TO return
to you, because you had agreed 10 sell
timber which YOU could not deliver, |
returned that part OF the commission
which | had used, though now | can
still make "A legal claim for the whole
mount. Your letter therefore simply
reveals with increasing C~learneSs n
force the ACCESSIBILITY and necessity OF
submitting all those various business
affairs and financial reports 10 clear
headed. competent business men, as you
have been urged by so to do since
- -. .-.,,. n,-V uFra.ls aa..,v. Raa
in the presence Of he trustees.
'It matters not to me whether you
give me one minute, one day or one
week In which to return to you $4,000,
more or less, which you allege to be n
shortage In my account. ! calmly dis
dain your imputation n challenge
without the slightest concern about YOU
Authorizations regarding Sing Sing. j
am still ready to submit all issues under
discussion to three good, experienced
business men, or | am ready for just
as much war as you wish to invite, and
az you assumed the responsibility for
declaring war, i take the offensive
Gen. Kings statement yesterday.
which evoked publishing the xChasge of
letters, was that IA court accounting of
Mr.. Ferguson's inancia report should
he asked by Dr. Hillis's attorneys, and
he indicated that such "A course would he
' W ~ 'AAs " ~ Va o
FergusOn's figures but to obtain pos
session OF documents which the Hills
forces are anxious TO get from Mr..
Ferguson, Mr., Ferguson last night said
he would welcome court action OF any
kin In the controversy. Glen. King
took exception especially to items OF
office expense and administrator
charged TO Dr. Hills.
The financial report itself, drawn up
by auditors chosen by pr, Hills aud
MIR. Ferguson, shows the following fig
ures: Cash debts (due Mr, Ferguson
from DR.. Hlllis), Sii,0G7.47; commission
debts, 81 ,3o7,50; total debts, s97,-
1851. including sums personally all
yanced to Dr. Hills, Cash credits
drawn by Mr.. Ferguson from DIR
Hillis). S5S,2S7 bone credits, s29,0OO
total credits, Ss7,2S7. Balance still due
Mr.. Ferguson from Dr, Hills, secured
by notes OF DR.. Hills for s3,250 and
bonds Of the Alberni Timber Company
:. 310,0S797,
- The figures show that at least 81
oGG,o00 worth Of business OF Dr. IIillis
was transacted by Mr.. Ferguson, Dur,
ing the frat twelve months, said Mr.
Ferguson, he handled for DR.. Hill
Sbt0,4l2, In the five years reduced DIR
i.bs's liabilities rs per cent. and saved
him approximately sl2O.s57.