Evening journal., 1920-11-10
TESTIMONY in
Fisheries CASE
II'f

Continued from First Page)
accounting In Ike manner OF all the
materials In hand or in their posses
sion OF The Lewis Fisheries co.
The complalnants flled answers to
the receivers bill, denying fraud OF
unlawful acts alleged by him.
James b. Bice. OF Dover. iesth'd he
bought stock Of the company IN 1912.
lie told OF receiving the third annual
report OF the company, dated Novem-
Der 20. 1913, which contained an item
Of accounts payable of S23339 ~. ana
one OF due from individuals and firms,
SfS SS86.i2
Mr. Cahan was recalled and testified
that on November %, 1913. the books
OF the company Items OF bills payable,
Si2 40. and bills recc NahN, S32 4Ot
without any explanatory remarks. On
1,afla 49, 1913. thn books he said
showed bills payable credited S32, 2,i00
and bills receivable debiied S32, 400,
with the remark, transferred ac-
count
In answer 20 a question from Mr..
Ridgely. Mr.. Cahall said an item in
the annual report testified TO by Mr..
Bice was not a true statement OF
facts as shown by the books OF the
company. He said the books showed
on November %. 1918. and January
is. 1914, the transfer or bills payable
20 bills receivable and back again.
The entry OF $50 400. he said. repre-
senied the aggregate amount owed
by the six directors on notes for
seventy shares OF stock each The
Receiver also testified the report was
not true as 10 salaries OF he direc-
tors.
Mr.. Cahau was cross-uuesiloned
closely by David 6. Reinharit. Of
counsel for the defendants. as 20 the
latter statement but Mr Cahall con-
tendt4(hr did not know Of the dlrec-
tors Salaries appearing In any Other
Charles V. Jones. who brought
the original suit, testified Mr.. Lo1and
one OF the defendants and a director
Of the company. approached him rela-
tive 10 buying some OF the stock In
1913. Mr.. Lonand told him. the wit
ness said. that "it was a gO0d thing
and that he should n ave some Of the
STOCK He said Lofland told him they
were running the company cheap and
that the directors were not receiving
anything for their services. In 1914,
Mr.. Jones said, Mr. Loiland complain
4 cd mat 10 was an outraga he lLOf-
Nh was only getting $500 a year
~Dr. John 2. Robinson OF Lewes. tes-
titled he owned IS shares OF Fish er-
les Co. stock. He told OF Mr.. Lofand
telling him in 1918 that the directors
Ncra not receiving any salary. The
witness testified there was much talk
a that time about directors OF a COM
petng fisheries company recelvinE
$500 a year. Later. he said, he
heard the directors OF the Lewis
Fisheries Company were receiving ST.
600 a year and that when he askd
Mr.. Lofland about i. the latter admit
I'd it and asked him CRobinson)
what would you do
Mrs Elizabeth Robinson. owner OF
2i shares of the ashTries company
stock also testified to the ALLEGED
salary OF the directors.
Mr. .Cahill. the receiver. was re-
calhd TO the stand for the third tim
and questioned relative 90 the assets
of the company on July 30. 1917.
which he testified were 1896. 7i9 43.
including s296.5i9 43 In cash. the re-
mainder representing the plant and
equipment. He said iudg ng from
the books the company was not Op-
Grating at "a great profit in 1917.
Mr. Cal1fll was next questioned rela-
tive 10 the sale OF the plant and two
" the companys boats TO Robert Pen
Inglon. a defendant In this action
Letters were read between Mr.. Pen
ngtOn and L0nand as 10 the details
3f the sale. the original purchase
rice being S225 900. The sale, 10 was
liOwn. was later confirmed by the d
eclors. Mr. Cahill tfstifled that from
.ugusf i0 1917. when the plant and
tcamers were sold. 10 October 5. 1917,