New-York tribune., 1919-09-25
Venner Is Sued
By Woman Client
In Stock Scheme
Banker, With Long Record
of Corporation Litigation,
Shown to Have Offered
$3.50 for Right to Sue

| Clarence Fl. Venner, Of the banking
firm of C. H. Venner & Co., figures
once more in q Supreme Court action.
This time instead of being the plain
tiff he and his firm are the defendants.
Mrs. Retta Ellis is the plaintiff. Yes
terday Deputy Shcriffs Murray ana
Curtain called upon Mr.. Venner at his
Office at 10 Wall Street and procured
from him under writ of replevin
300 shares of common stock of the
Iowa Central Railway Company, the
property of Mrs. Ellis, and for the re-
covcry of which she is bringing suit.
The par value of the stock is $4,000.
In view Of numerous suits which
MY Venner has brought from time to
time against railroad corporations,
suing usually as the holder of some
shares of stock, an agreement among
him, his firm and Mrs. Ellis, which is
attached to the latter's rcplevin papers.
and supplementary agreement are Of
considerable interest.
These papers executed in 1916. when
Mrs. Ellis turned her shares over to
the Venner firm, show that the purpose
Of this transfer was to bring a suit
against the Iowa Central Railway Com
pany because "the first party Mrs.
stock has greatly deprecated by reason
of certain transactions on the part Of
the railway company, its directors and
officers"
$40 Restore Value Of Stock"
The following paragraph also was In
cluded in the agreement: That she
desires to secure the cooperation and
assistance of the second party in eff
forts through legal proceedings and
otherwise to enforce the rights Of the
first party and, if possible, restore the
value of the stock"
Mrs. Ellis alleges that the cond-
tions of this agreement were not full
filled by Mr.. Nenncr or his firm.
Clarence IL. Ncnncr was the party
of the third part in this agreement.
with power to employ counsel to bring
any action he deemed necessary, and
ito have sole direction of any suits
so brought and to settle and dlsc0n-
tlnue the same at any time"
The tripartitc agreement reads:
he party of the second part &C. II.
Venner e. Co.. hereby agrees to fur
Mlsh such moneys as may be ncces-
sary for the prosecution of any suits
at law or in equity which may be
brought pursuant to this agreement
and said first party Mrs. Ellis) shall
pc uIiuei no ptTSOnal lldDllltN lncrcl or.
and the second party tNcnner E. Coz
shall wholly recouD itself for such OK
penses out of the proceeds of SAID
stock, if any there be-
Stock Priced at $4,000
Mr. Nenncr agreed to look to his firm
for all compensation for his services.
and Mrs. Ellis agreed to the sale OF the
Iowa Central stock. with par value OF
$4,000. for $4,000. The supplemented
agreement provided that in case any
suit brought should not be successful
the Nenner firm, at its option, might
return the stock to Mrs Ellis free Of
all expenses and pay to the first party
$3.50. Following this portion of the
supplemental agreement is a paragraph
setting forth that as consideration for
the agreement. in case the Nenncr firm
should exercise It's option to purchase
the stock for $4,000. either Mr. Ven
ncr or his firm shall take 1000 in
liquidation of any expenses which may
be incurred. Mrs. Ellis alleged that her
shares OF stock were being wrongfuliy
detained by Mr Ncnncr and his firm
under the agreements.
Some of the railway CORPORATIONS
against which Mr. Nenner has brought
suits within the last few years were
the lnterborough. New York Central
and Great Northern. He also sued the
Bethlehem Steel Company. In all these
actions he was defeated A few years
ago Mr. Ncnner sued August Belmont
for S250,000 for alleged libel He later
discontinued that action