Year: 1872

lished letter from Winsted charging the editor of the Herald with refusing to sell his stock in the Winsted Printing Go. at 40 cts. on the dollar when he had under taken so to do. Although the statement came from responsible source, we believ- ed, from what we knew of him that his conduct would be found capa- ble of satisfactory explination and inti- mated as much in a note appended to the communication. Shortly after publication of our paper we received note from the editor of the Herald requesting the name of the author of the letter. This we re- fused to give, in accordance with our in- variable practice where we have noposi- tive proof that correspondent has inyesa- ted lies with the. intent of defaming some innocent person. The editor of the Her. ald then published the following explana- tion of the proceeding complained of, which we give in full, in accordance with his request: si9 azIG. S as 1.i< l'a '1

 On the 8th of January last, I laid before the stockholders of the Winsted Printing Company three propositions, two of which were these: f.sya.-,,E s.,

 I will buy your stock at 40 cents on the dollar;

 Twill sell what stock hold At 40 cents on the dollar.

 It ought to be plain to any man of ordi- nary understanding and common honesty that Tn these propositions I did not con- sent to be both buyer and at the same tune seller, but that simply desired to do one thing or the other-and that with out indefinite delay After these proposi- tions had been made repeatedly declared to the stockholders at one time to sever- al of them in each others presence-that desired to sell rather than buy. They knew meant what I said I found no takers. Fourteen days elapsed before I was approached by any stockholder, or by any person whatever, with any offer to ac- cept either of these propositions and the first offer had was an offer to sell,-ac- companied with satisfactory evidence that could have the stock of several holders "a very considerable amount in all-at the price named. On the 22d of January stockholder came to my office and asked me whether would rather buy or sell. I informed him that would rather buy, and had ascertained that could buy. He of fered to buy me out, and I Ideclined. Some days later, another stockholder told me that he stood ready to buy me out, al- though 1 had largely bought already, and had notified him 0t c precious dag that I was no longer willing to sell. These are the facts, by the perversion of which I am held up to, the public as breaker of faith and disciple of Prince Erie .rt

 If my wellknown determination not to use or lend the columns of the Herald for vile or spiteful purposes has led the cor respondent of the Enquirer to imagine that he could stab my reputation without | getting into danger himself, he has made one grand mistake. sr -s.r. fra zsr.a THEODORE F. VAILL.

 ] It will be noticed that both the purchas- es of stock and the refusal to sell, on the part of our friend of the Herald, occurred on the same day, the 22d, ult. GA days af- ter the offer of Jan. g.. Now, while we do not doubt his good faith in the trans action, he must see how liable the matter was to be honestly misconstrued precisely as our correspondent misconstrued it.

 Since the above was put in type we have received communication from our Win sted correspondent in reply to MT. Vaill's card in the Herald. It gives the circular referred to in the above card, in full, and states that, until the issuing of that cir cular, the stock of the Winsted Printing Co.,. it was generally supposed, was worth about 70 cts. on the dollar. He maintains that the circular in question was issued by the editor with view to depress the value of the stock and buy in a controlling in terest. This part of the Nply, and the circular, are of considerable length and treatsof matters regarding the condition, prospects, and management of the Win sted Herald which seem hardly proper for neighboring paper to publish. But the remaindeR we consider it due our cor respondent to give in full. He says:

 s'The editor of the Winsted Herald in personal article last week uses some very select language regarding your cores pondent, calling him a scoundreP and ac- cusing him of perverting facts &c., be- cause he said in your issue of Feb. 1st that he had offered to sell his Printing Go. stock at 40, and then refused to do so, when some of our citizens offered to buy him him out. We do not care to en

 gage in newspaper controversy, but as the word 'scoundiel' is still ringing in our ear we propose as briefly as possible to state few facts and leave the readers of your paper to judge for themselves wheth- we are guilty or not of perUerting .facts | o1, 0tzk of January last the editor of the Herald sent out his circular to the stockholders of the Winsted Printing Go.

 "The stockholders meeting was two days thereafter, to wit, on the 10th day of January. On that day he was asked by a stockholder if he would sell at 40, and bind himself by writing not to engage in the business, &c., in the place. No def nite answer was given. Within reason able time after his issuing the aforesaid circular, two at least, of the stockholders of the Co.,, offered to buy out the stock of the editor at 40 cents on the dollar, but he refused to seH. Was it acting in good faith when by his own published offer he said T will sell what stock hold for 40 cents on the dollar ? His excuse is that he had then bought stock, and that he did not consent to be both buyer and at the same time sell CT! But by his own printed offer sent to all the stockholders he had consented to be seller of all his stock at 40 cents on the dollar; and at the time the two stock holders took him at his word and he re- fused to sell, he had never revoked the of fer to sell at 40, either by issuing another circular to the stockholders or by pub fishing the same in the columns of the Her ald Again, he fixed no limitation of time to his offer to sell. By his own admis- sion in his Personal of last week stock holder offered to buy him out just twelve days after the annual meeting of the O.

 Could he reasonably expect buyer in less time when he had virtually said by his circular that the stock was depreciatinga at the rate of 10 per cent per annum, under l,;s od;Ioyiaa .Gono0oyoopf9 sI <