| Show FILES HIS ANSWER J A Cunninghams Response In I Beck Case I DISPUTED STOCK IS HIS CLAIMS HE MADE A 1l0NA FIDE PURCHASE I Entered Into No Secret Agreement With Beck to Defraud the Latters Creditors as Set Up In the Petition of E W Wilson TrusteeStory of tl e Suit I J A Cunningham yesterday filed in the district Court a separate answer in the casts ot E W Wilson trustee In bankruptcy of the estate ot John Beck yso J A Cunningham JosIah Barnett et alI al-I The answer prays for a judgment ana decree ot the court to the effect that he t Is owner ot the mining stock in dispute and holds the hares clear from aU claims ot the plaintiff as trustee in bankruptcy ot the estate of John Beck and that the court decree that an accounting ac-counting be taken of all the sums of money paid by hIm at the time of the purchase or the equity of John Beck In the stock as well as all sums paid by defendant in discharging the Hens on it that the total amount of such payment pay-ment with interest may constitute a Hen 1111 favor of the defendant and that he be decreed to hold the stock as security se-curity for the payment of the amount of such Hen and that the trustee In t bankruptcy be decreed to pay and discharge dis-charge the said lien and In default of such payment that the stock in que f4 tion be sold under the dIrection of the court Allegations Denied Mr Cunningham denies that he accepted I ac-cepted the proposition of Beck that he would advance any sum or protect the stoct = under the purported trust agreement agree-ment or hold the Interest of Beck In said stock as security or subject to the redemption by Beck on payment ot any slims advanced by him or the sum of I 16000 as a bonus to this defendant The 4 answer further denies that a transferor transfer-or bill of sale ot the stock Was en 1 tered Into by John Beck and defendant wJth the purpose ot hinderIng or de fraudlng the creditors of Beck or that it was held In secret or other trust I nbiect to redemption in pursuance of I said agreement On the other hand Cunningham asserts t as-serts that he did at or about the time I set forth in the complaint purchase absolutely 51000 shares of BulUonBeck Champion Jlnlng company stock and since that date he has been absolute abso-lute owner of it free from claims of I John Deck or his creditors Defendant Defend-ant denies the assertion tat at the time of purchase or at the present day that the 51000 shares are worth the sum of 000 or any sum exceeding 42 per share Cunningham state that dIvidends tote to-te amount of 6900 have been paid upon the said BulonBeck Champion Cham-pion Mining stock since th makIng of the said tust agreement that of that amount 020 had ben paid thereon prior to the purchase of said stock by defendant and that three dividends 15300 have been paId to him since the discharge by him ot aU lens upon sid stock and the total amount received re-ceived by Josiah Barnett during the existence of the trust agreement and applicable to the payment of sid indebtedness In-debtedness of Beck was 64000 The defendant Cunningham further asserts that the wh01e indebtedness on the contested trustee con-tested sock has been fully paid to th History of Transaction Traaction Coming down to a history of the transaction the answer furnIshes a statement to the effect that on the 1lh day ot May 1898 he purhased of John Beck all his right to 5100 shares of the capital stOck of the BumonBeck Champion Mining company for 24 54S6 payment being made at time of belnS purchase The stock was then subject I I to the trust agreement set forth in the t complaint and In the possession of Josiah Jo-siah Barnett trustee Tat at the time of the purchase the stock ras held by Trustee Barnett a security for the indebtedness Tst debtednes of John Beck under the terms of the trust agreement amountIng amount-ing at that time aU told to 29725520 and that the total aggregate interest accruing upon the indebtedness w more than 2000 per month The dcfendanallegeS that 00 was realzed by the trustee during the con tlnuan of the trust agreement from the divIdends on sid sock applicable to the indebtedness The defendant further aver that 8074960 was realized real-ized from the mortgage given by John Beck that subsequently the defendant advanced the aura of 9517818 being the balance remaining due upon a len upon the stock hat the final payment nas soc defenaant on Aug 16 wa 1899 whereupon Trustee Barnett handed hand-ed over the stock to defendant free of all Incumbrce |
