New Britain herald., 1929-08-16
DOCTOR TO FIGHT
 SUIT FOR S75,OOO
 BROUGHT BY BANK
(oCntinued from First Page)

papers were about ready and assur- ed him he would have them at his office within a short. time.
 For the first time Attorney Brady learned of Dr. O'Connell's position in reference to the Tabs note, the lawyer said today He said he WIS surprised when the doctor told him he had received a letter from tn" bank stating that the society had done nothing to reduce the prinCi- pal of the note in the three yeats it had beene standing and it made no demand of pr. O'Connell. The tone Of the letter was not alarming but rather a message of information.
 Dr. OCOnnell then brought up the question of the Tabs note and its effect on his property transfer plans and Attorney Brady assured him that the Tabs were very sound financially, that in difficulty they would be able to call upon assistance and receive 1t and that nobody but the society would pay the mortgage. He called the physicians attention to the fact that for 40 years they progressed at their Lafayette street home and had not only paid off the debts of the building but had d bal anCe in the treasury as well.
 Doctor and Banker Confer
 This was the last thought given to the Tabs angle. the attorney said, and he drew up the papers and had them signed by the physician. A short time later President John c. Loomis of the Commercial Trust Go. called Dr. O'Connell into conference and during the meeting he asked the physician why he had transfer red the property. Dr. OConnell said he did it merely to avoid loss in case of suit by a D tient. Presl. dent Loomis suggested that Mrs. O'Connell place her name as co-en- dorser, Attorney Brady said, and Dr. O'Connell gave no answer at that time. He conferred with Attorney Brady who objected to the arrange ment. He explained that Mrs. O'Connell had no responsibility in this matter and was justified in re. fusing 10 sign. Dr. O'Connell re- ceived a letter from Attorney Don aid Gaffney claiming that it WIS fraud to transfer the property and demanding that the name of Mrs. O'Connell be affixed to the note, At torney Brady said.
 Bredy's Letter to Gafrney
 In response Attorney Brady wrote the following letter: Donald Gaffney,
 Attorney at Law, fF.%t|' New Britain, Conn. Dear Sir
 "Dr. O'Connell has turned over to me the letter that you wrote him under date of July 26 in reference to the transfer of his property to his wife.
 "The deeds in this transaction were drawn up by me and there was nothing hurried or fraudulent about it. pr. O'Connell informed the Commercial Trust Co. his reason for the transfer and that company knows the facts. It has been in the works for some years and has not taken place earlier because Dr. O'Connell could not decide which of several plans submitted he wished 1 to accept. When he did decide to transfer his property to his wife's name so that it would be hers he so notified me. This was prior to the 1 time any mention was made of the l Y. NJ. T. A. & B. Mortgage by the Commercial Trust Co. As l found | time I prepared the deeds and when ready had Dr. O'Connell sign them.
 Mrs. O'Connell has not sig9ed the mortgage because l advised her not to.
 AS matters stand I see no reason why the Commercial Trust takes the attitude it does. Dr. O'Connel will be able to pay his share of the debt if necessary. The note is secured by the property and other endorsers and is not in danger of loss. No demand Has bttl lOl tIlc pay ms pL 'll' mortgage so far as we know and no failure to pay has been made by the society or has foreclosure proceed ings started. The time to talk about what indorsers should do is after the Y. NJ. T. A. X B. society has failed to pay it's mortgage on de- mand or according to it's terms and the Commercial Trust Co. has suf- fered an actual loss.
 My advice to the Commercial Trust company is to proceed eau tiously in this matter as it is serious to charge Dr. O'Connell with fraud There is no fraud and we are ready to go to court to defend him. At the conclusion of the action the Com mercial Trust Co. will find itself with q heavy lawsuit for damages for defamation of character on it's hands.
 Yours truly.
 GEORGE W. BRADY,
 "Attorney at Law"
 Attorney Brady said the terms of the mortgage require payment of the note on demand and contrary 10 re- port there are no set sum for annual payments. Therefore. he argues. the Tabs are not failing in their obliga- ton and the endorscrs are likewise fl1l6lliDo tbair 5Dtihc rrtj1 10