Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1916-12-07

SALE RESISTED
DR.. Guild Begins Mortgage
Foreclosure Proceedings.

The aftermath of the sale of the
Fargo Courier News to the Non-Par-
tisan Publishing Co., has been an
unexpected objection raised by DR..
l.. T. Guild who sold his interest
about three weeks ago to Messrs.
Marsh and Fentress, newspaper men
from Iowa. The new management of
the Courier News says:
DR.. Guild holds mortgage on the
plant of the Courier-News which in
no way, since his sale Of the paper,
gives him any control of it or its
policy or ownership. A provision of
the mortgage provides that he has
right to foreclose it at any time the
property, which is his security, if it
is being impaired or dissipated. This
is a perfunctory provision in all
mortgages.
Serves Notice of Suit.
DR.. Guild has served notice on the
Courier-News and on Messrs. Marsh
and Fentress, demanding immediate
payment Of his mortgage, on threat
of foreclosure under the provision of
the mortgage above mentioned. He
claims the paper has fallen into ir-
responsible hands, that it's value will
be destroyed and the security of the
mortgage impaired.
DR.. Guild also claims there has
been default on the mortgage in
terest, which is payable monthly.
This interest was paid him last
night and later returned by him.
The Non-Partisan Publishing com
pany will resist to the limit DR..
Guilds attempt to hamper the new
management. All his allegations
regarding the incompetency and ir-
responsibility of the new owners
must, of course, be substantiated in
court, and ample evidence of the
responsibility and competency of the
new owners will be offered.
Suit was filed Saturday against
the Courier-News Co., and Marsh !
Fentress for the sum of $4,000 al
legged to be due him in preliminary
action of foreclosure by DR.. Guild
who holds mortgage, stated by Chas.
E. Marsh to be in the sum of $27, 7,319,
the first principa! paymGnttof which
is not due till May /, 1917. Mr..
Marsh's statement says:
"Dr. Guild has opposed the prin-
cipals and personnel of the Non-Par-
tisan League, members of which
have bought control of the paper.
Not Released from Liability.
"Mr. Fentress and myself, to
whom DR.. Guild sold his interest,
are in no way released by our sale
from our liability to DR.. Guild. DR..
Guild now has stronger security for
his debt than he had previous to the
present sale.
my partner and myself further
protected his interest by arranging
$12,500 payment on his debt May
1, instead of $4,000 payment, as
his mortgage provides.
81 believe Dr. Guilds intense poll
tical convictions have biased his
judgment as to the security of his
mortgage, and that in this sense his
proposed foreclosure proceedings
are political in their origin
In communication to DR.. Guild
enclosing the interest money up to
December !, in currency, Mr.. Fen
tress said:
'In this connection, L must say
that 1 am very much surprised at
your action regarding this matter,
as you will undoubtedly remember
that we had a verbal agreement,
made at offices of our attorneys, in
which it was mutually agreed that
the interest was to be paid on the
18th of each month"
The price agreed to be paid by
the Non Partisan Publishing Co. to
Marsh and Fentress is not stated,
but it is reported that they cleaned
up over 100000 over the price
they paid Guild"