The Bridgeport times and evening farmer., 1922-08-05
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Referee and Special Commissioner, and by it's order directed me to take the testimony and to report thereon with my recommendations to the Court In accordance with this order hearings were held before me at - Bridgeport in said District on June 21 and 22, 1922, the petitioner appearing on his own behalf accompanied by Judson R. Campbell, Esq, an attor- ney of New York city, and the re- spondents appearing by Homer $. Cummings, Esq.,, their attorney. find as follows:
 On or before December 1, 1919, this petitioner. through Messrs; shannon Bridgeport, Connecticut, brought two cases in this Court, one against a Connecticut corporation called The Fairfield Park Land Company ana against Walter B. Lashar, Percy P Anderson and John J. Anderson, all of said Bridgeport, who were fellow stockholders with the petitioner, ana corporation called the Fairfield Park Building Company and the same m dividual defendants, except Jonn ;. Anderson, who were stockholders WItn the petitioner therein. In these cases the respondent O'Hara was attorney and solicitor of record for the two corporations and the respondent Marsh was attorney and soHclt9o oi record for the individual defendants
 Discharges Counsel
 Messrs. Shannon and Wilder, on or about December 12, 1919, stlpulateo with defendants counsel that the lat fer might have an extension of time for filing pleadinGs in the two cases On account of this stipulation which is a matter of every day occurence among attorneys, said O'Brlen uis- - charged Messrs. Shannon and Wllo- CT and thereafter conducted the cases in person.
 at Hartford before Judge Edwin u. Caryin on December goth, 1919, up on matter arising out or the stLpu1 lation above mentioned, at WCi' hearing said O'Brien, by verbal mo tion asked for an ordor appCnthS a receiver for the said Farheid farH Land Company for the reason that a certain mortgage ge,d on hv lng o1e paR zalmon GoodselI was in danger Of being 1ore closed, and that the Ffarst Na1oaaI Bank of Bridgeport was pressing ho5 payment of certain notes Of sa1d Laho Company which it held.
 Opposed Receiver.
 In reply the respondent O'Hara stated that neither the Prlncipan illtnraot ot thereon was then due, and that ne was authorized to state that the IooIl gagee was opposed to the appolntrNenI of a receiver for said Land Company. Tn further reply, the respondent Marsh stated that it did not appear that said Bank was pressing TOT tne appointment of a receiver and that the 6.d not believe the Bank desired a receiver appointed.
 Judge Garvin then suggested that the respondents obtain and file state ments from both of said creditors setting forth their intentions as 10 the notes which they held Thereupon, MT. O'Hara interviewed MT. Goodsen who wrote a letter. copy of which is as follows:
 Goodsen Replies.
 "Gentlemen:
 Replying to your inquiry as to inta od fOrecl0S63 the mortgage which I hold on tract Of land owned by your company, you have heretofore reduced the prlnclpal of this mortgage from $1S.eoO to s17,5OO, and the interest thereon which is payable semi-annua1ly on the 14th of August and the 14th of Feb full to August 14th, 1919. The note which is secured by the mortgage IS payable five years after date and It Is dated the 14th of August, 1917, therefore the principal of the note secured by this mortgage wNl not be- come due until August 14th, 1922. So that I could not if I desired to do so foreclose the mortgage for the prfn- cipal of the note uutil after that date. I could of course foreclose for the in- terest if the same was not paid when it became due. 1nasmuch as you have not only paid the interest in full when it became due but also reduced the principal of the note have no apprehension of ever fore closing the mortgage for the interest.
 Judge Reed Continues.
 MT. Goodsell is now dead but he letter in sworn testimony, which he gave upon g deposition taken on February 4, 1920, at which said o'Brien was present and cross-ex-
 Wolfe Makes Affidavit.
 Pursuant to the suggestion of Judge Garvin, MT. Marsh after a conference with MT. Edmund S. Wolfe, president of said First National n nrenarRd an affidavit which he submitted to MT. Wolfe, who signed and swore to it, a copy of said affidavit being as
 Edmund S. Wolfe, being duly sworn deposes and says:
 1- That he is the president of the National banking corporation located and doing business in the city of Bridgeport, state of Connecticut.
 "2. That the Fairfield Land Com pany is indebted to the First Bridge port National Bank on this day in the sum of S4,6oO, as evidenced by three notes dated respectively. November 10, November IT and December 22. 1919, all payable to the First Bridge port National Bank, two months after he respective dates thereof for the respective amounts of $1,600, s1,50o and s1,50O.
 "3. That no other sums are due to said banks, and no other obligations are outstanding in favor of said bank
 
 defendant corporations.
 "4. That the officers and board of directors of said bank are satisfied that the business of each of the de- fendant corporations is being prop erly and carefully conducted undeS the present management thereof and that it would not be for the best in- terests of either of said corporations that a receiver of the same be ap- pointed.
 "5. That said notes are not yet due
 ,-1- C company is not in default as to the principal or interest of said notes ol any of them; that said bank does not intend to enforce payment Of sa1o notes as the same shall become due either by suit or otherwise, but will accept proper renewals thereof.
 "6. That the deponent is informed and believes that the above note: represent substantially all of the un secured liabilities of both said corpor' ations.''