Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1919-12-03

Arxumerts in the equity case.
Audrey p. Hichborn of Augusta Va
Hollis II. Shaw Of winthrop and
the Inheritance Realization Co.
Ivere made Tuesday Afternoon before
Chief Justice Leslie c. Cornish At
the courthouse. Leroy L Hight Of
this city argued for the defendant
Mr.. Shaw, and George ". Heselton
of Gardiner for the plaintiff
Chief Justice Cornish viii render
his decision in the case later. after
the December term Of the law court
| Attorney Rights Argument
Attorney lights argument was in
brief as follows:
Something more than 10 years ago.
in 1907 or 1908. Hollis n. Shaw met
AIlura and Eliza Stanley, two maid
en- ladies of about the ages of - and
II respectively. They with their
sister PAMELA, who lived apart from
them, were the last Of the children
of John Stanley. Their brother.
John D. Stanley. had recently died,
and they were living onthe home
stead farm. They were handling
the eighty acres or more as best
they could, letting OUT padts Of it,
and hiring assistance.
Mr. Shaws first meeting with
them was by introduction Of one Of
their neighbors to whom he had sold
some bonds. AIlura and Eliza also
bought some bonds, as their neigh
Dor had done. There is nothing in
the evidence to indicate that this
transaction was any other than an
ordinary one: but the first sale of
bonds was the beginning Of a long
friendship. Mr. Shaw went fire.
ouently to see them and found them
friendly and agreeable. They found
him kindly and helpful. Friendship
grew stronger. When the first meet
ines occurred. Mr.. Shaw was en-
gagged in selling bonds for others.
later he became active in a business
Of his own. He began to develop
the Dirigo Power Co.. and was
building a dam and power plant in
the town of Union. He obtained
water privileges upon the Georges
River. and expended there for his
company a large sum Of money.
, This money was derived from the
sale of bonds. Great publicity was
given the work. and great hopes
were raised by it. The sisters took
: great interest in its progress, and
went to Union to see what was be-
: ing done. Mr.. Shaw believed in it
i. thoroughly and had the best of rea-
sons for his belief. The city of
) Rockiand was an eager prospective
? customer, and with its patronage
success seemed assured When,
, however, legislative action became
| necessary. opposition developed
- ssss
But after the legislative set back
no Dirigo bonds were sold TO the
? sisters by Mr.. Shaw, and none were
: exchanged for other bonds which
they owned.
: When the legislative disaster be-
i fell him he was still resourceful and
E competent. He made another SPLEEN
did effort to save the fortunes of
i himself and his friends - "a ..
r But an overwhelming misfortune
was at hand. The breaking of a
, coffer-dam precipi.ated huge
|. landslide which buried the growing
! power house and valuable machinery
under tons of earth. This was a
}. visible physical misfortune. 1t broke
his strength and destroyed the COM
pany's prospects.
No word Of evidence supports a
= charge of dominion by the defendant
e over the minds Of the sisters, or Of
: either of them. What they did in
/, the way of business with him they
:, were impelled to do by their own
3 wills and not by his. He always
s gave consideration for whatever he
8 took from them. and in good faith.
: and nothing whatever appears to
J., show that any Misrepresentation OF
: any kind were ever made by him in
his dealings with them.
4 The second chapter Of the story
: has to do with the Inheritance Real
e ization Co. and the relations of the
= complainant and her sister to it and
o to Mr.. Shaw
Working with the full understand
ing of the sisters he made this
plan:
1. He organized the Inheritance
Realization Co. with a capital stock
OF 100000, intending to pool the
t contingent interests of both classes
= Of kindred. and upon the. death of
= BENJAMIN to acquire for the corpora
Y ton. the property.
: IL He caused $4,000 Of the stock to
4 be issued to the sisters-s25,000 to each
e in exchange for agreements to assign
|. to the company any rightc which Nigh;
r descend to them when Benjamin died.
> III. He sought out the FIVE members
L of the second class Of kindred. and of
: these Samuel Joseph and Fannie gave
: similar agreements in exchange for
!, stock Of the par value OF 5000 each.
!, Mrs. Hichborn and George Stanley de-
cir ed to accept stock for their agree
ments, as the others had done. and 50
!. their agreements were not secured.
hi The advantages Of the plan were OBJ
! vious. without it neither of the SIS
e estate until the death Of Benjamin.. II
both should die before he died, the prop
e erty would 60 absolutely to others. and
: they would not have had any use OF
= any of the value of it while living. nor
could they dispose Of any Of 1t by will.
{ There was no distribution by right of
: representation. It was all for them Of
! the survivor Of them. or 1t was nothing.
II was quite as likely that BENJAMIN