The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-08

| Western Steel Corporation. The deal
was closed. but eventually pr. Hills lost
every dollar he put into the enterprise.
Concerning the sale OF timber licenses
by nr. Hills Mr.. Ferguson says the
plaintiff had represented and in some
instances had guaranteed the quantity
of timber per section and made other
representations that lei him to believe
that their investment would yield en-
tremcly large profits" Mr.. Ferguson
said some purchasers had reason to be-
lieve that IL his representations were
correct each section would ultimately
yield Il profit Of $4,000. less the small
riHlna purchase price and the carry
ing charges"
Mr.. Ferguson asserts Dr. Hills sold
timber licenses az follows:
To II. 81. Patrick, Marcnzo. Ill. his
fither-in-law. six licenses Il. ". rat
rick. his hrothcr-in-laN. five Amos ~
Carver. Bro"klyn. fifteen T. ~Sidenberg.
] ten :. Farkes Cadman. eight y. M,gee
Waters ct al. nine e. Y. Hess. bng-
Ia anton, three: A. +. Nightingale. chi
cago. two. Alexander Black. one the
Rev. William J. Dawson. five; George
". Iicrnick", two George VI. Hutchin-
son. one Miss L.ucie Whitlock. his sec
Rotary. u" i'olneroy Burton. one :
Gypsy smith. one l.. Schiller, five II.
q Brown. four.
Mr.. Ferguson Inserts in his accounting
a letter from the Rev. Will.am !. baw-
eon saving that Dr. Hills had assured
him that IN" five sections which lie
bought we're the hes, of all The holdings.
III. impor;uncd me-" wrote br. baw-
son. "as a chance ~ a lifetime n even
claimed they would prove worth S:oo,-
600"
Mr.. Ferguson says Dr. fill.s sold
thiity-niuc timber Licenses 10 the Martin
Einsman estate Of Peoria. H.. for 500.
600 cash and an equity worth anou'
$4,000 IN a ST. Louis, Mo. warehouse
lie says the licenses were guaranteed 10y
pr. uIll.s 10 cover 500. 0oo 900 feet o'
timber. but that "A cruise showed a short
age OF 100000 feet, whereupon thu
kinsmau estate claimed a rebate o! 80,
Gao. Dr. Hills wrote. a letter saying III
was read! to do the right thing
In summing M the purchases Z"
timber made by pr. Hillis NJ. Ferguson
SAYS he bought the licenses to sections
representing 6.4lj. 100000 feet, and thc'
adds
~ tho aforesaid quantity % t!mhc
were 10 l.. cut ny "A saNm.ll a; the rai'
OF 100. 600 feet a day IL would reQuir'
l15 years. including sundays and hol.
days. OF "a years. exclusive OF Sunday
and holidays. TO cut and market tina
amount % standing timber"
Mr.. Ferguson flrther asserts INA
Schedule \ shows coucluaivc'y that IN
plaintiff was engaged IN large an
hazardous speculative operations. whic'
resulted In inevitable financial "ompii
cations and embarrassments. causing IN
plaintiff increasing alarm and distress
His transactions and liabilities were a.
together out OF proportion 10 his hnan
Cial resources
Mr.. Ferguson in his charge % ss.,
e2s.S0 for commissions names cac
transaction on which he bases his dc
nand. In his statement of charges a
attorney IN fact he asks for &33. 900 /
r addition to the commissions. Here II
5 points out that he procured for the pain
, tin t215,T50. exclusive OF renewals. y
: the Endorsement Of Dr. HILLS : note,
He cites the various suits starred again
Or. HILLS which Nc AYERS he settle
/, and the threatened litigation which y
| avoided. lie tells of the work involve
. in the renswal of licenses. IN the organ
, cation of companies and Of other wor
I that he performed over n period OF a
most Ave Years
Z Charles 7. Lark, attorney for u
r Hills. would make no statement yeste!
4 day concerning the accounting. He la
D not received "A COPY OF II. aud until Il
n had read It over he would make no con
a ment.