The Fargo forum and daily republican., 1916-10-27
near end
OF CASE
FOR i. 5.
Only Few More Witnesses
on Hand, But Others
May be Called In
ASSETS EXCEEDED DEBTS
Such Showing Made by
Walter Thompson, Ac-
countant-Price Called

With only four or five more witness
es on hand, end of governments case
in prosecution of E. A. Wilson and r.
M. Farmer, former officers Of the
North Dakota Improvement Co.,
charged with conspiracy to defraud
and use Of the mails in promotion of
such alleged conspiracy, Is in sight,
unless the prosecuting attorney calls
in q batch of new witnesses.
This mornings session was marked
by the conclusion of the cross
examination Of the accountant, Walter
Thompson, and the redirect examina
ton of the witness.
In redirect examination, a schedule
of the bills payable was placed in evil
dence, this covering the activities Of
the company over a period Of years.
Fails to Qualify.
F. L. Goodman of Grand Forks, a
member of the board of appraisers
that examined the Improvement Co.'S
property when it went into the hands
of the receiver in 1913, failed to
qualify as a witness on realty values
IN Fargo, Valley City and Devils
Lake, and consequently was dismissed
as witness.
The court held that the fact that
Mr.. Goodman was member Of the
II
| qualify him as a witness on realty
values.
Price on the Stand.
W. J. Price, formerly of Fargo, now
of Chicago, placed on the witness
| stand by the prosecution, stated that
/ he was a member of the Fargo Plumb
| ing & Heating Co., when that concern
| handled number Of contracts for the
North Dakota Improvement Co.
Mr.. Price, who also was a member
Of the Improvement company, testified
on cross-examination that the plumb
ing work was handled on 10 per cent
| margin-and he also related that the
overhead expense of the plumbing
company was in excess Of Z per cent,
leaving only slightly over per cent
in profit.
Plumbing in the Gardner hotel this
city, was installed at $4,000, on COM
petitive bids, while the plumbing in
| the Great Northern hotel at Devils
| Lake, backed by the Improvement
company, was done for $4,000, by the
Fargo Plumbing & Heating Co., and
he said the Devils Lake job was big
ger than the Fargo job.
| That the North Dakota Improvement
company had assets of $116,S9643 in
| excess of it's liabilities to contract
| nOIQerS Wnen IL went lnLO the nanQS
| of the receiver in 1918, was the evil
dence Of Walter Thompson, account
ant, produced in the federal court
trial of E A Wilson and r. M. Farm
ers, former officers of the company,
charged with conspiracy to defraud.
| Mr.. Thompson, government witness,
under the questioning of the attorneys
for the defense, showed yesterday aft
ernoon that at the time of the receiv-
~ ho1 tnfa 81 4fa
of $566,360.56, according to it's own
records, while it's liabilities to contract
holders were placed at $432,246.55. In
addition, liabilities included SIS, 5,610.5S
in bills payable, and 81 sos in unpaid
dividends to stockholders.
The government had contended, in
it's opening statement Of the case,
that the company was insolvent from
the day it was organized.
In setting forth the companys as
sets when 1t went to the receiver Mr..
Thompson divided them as follows: