Opinion ID: 1692738
Heading Depth: 1
Heading Rank: 3

Heading: Charles Morton (Bookkeeper):

Text: There were no check swaps or checks given for the $30,000 deposited to B-D's account. It appeared from the ledger that the $20,000 which went for the down payment on that stock came out of money deposited on or about that time from sources in the Bateh family. Brown said to him we should accrue interest on this accountreferring to the $30,000 entrythough Morton never accrued interest on the account. Also, he talked to Bateh, Sr., in the presence of Ms. Cole and informed Bateh, Sr., of Brown's wishes; but Bateh, Sr., replied, No, we are not due interest, don't record any or don't pay any. At no time was interest paid on the account. This conversation took place in 1967. In the late summer or fall of 1967, a conversation took place in Brown's home to which he was a party. Brown was discussing putting some stock in Joe and Fred's names. Brown did not name what kind of stock when mentioning the transfer of stock. It was in subsequent conversations that Brown mentioned preferred as the method of payment. Later in 1967, he explained to Bateh, Sr., that the stock was preferred non-voting. (The transaction which is the subject of this suit is set up on the books of the B-D Company as an account payable to Bateh, Jr.)