Jasper County Democrat, Volume 10, Number 33, Rensselaer, Jasper County, 16 November 1907 — COMPROMISE [ARTICLE]

COMPROMISE

Is Now Offered By Delos Thompson IN THAT OLD STOCK FARM CASE. Court Holding Complaint Good Seems To Have Caused a Change of Heart In $54,000 Claim.

The old moss-covered case of the trustee of the McCoy bunk estate against Delos Thompson, one of the partners in the Rensselaer Stock Farm fast horse business, to recover some $54,000 overdrafts, notes and interest due the bank estate from said firm, which has been pending in the Lake circuit court on change of venue from this county for two years or more, was given another twist Monday when Judge MoMahan held each and every paragraph of the complaint good. This is first blood for the plaintiff, and the fact that the defense now wants to compromise and ofFers over one-sixth of the amount involved to do so, is evidence that there is something in the case, while all along it has contended there was not. The case had been about compromised once before, when $2,500 was offered and attorney Sellers for the trustee, it is reported, urged its acceptance. Later W. H. Parkison was brought into the case and he was of the

opinion that practically all of the amount could be collected. The faot that 17,500 more is now being offered shows that Mr. Parkison was not far wrong. The case is set for trial next 'Wednesday—but owing to the dbmpromise offer may not be tried then— and when the checks given by the Stock Farm—moat of which were drawn by Thompson himself, it is asserted—and the bank books and other proofs are introduced, many tbihk a judgment for practically the whole amount will be entered np. A petition to the referee to accept SIO,OOO in filll settlement of the claim is being circulated for the bank creditors to sign, and it is reported that it was taken to Lafayette yesterday to get the creditors there to sign it, if possible. The fact that over onesixth of the amount is now offered in compromise impresses many of the creditors that it can practical- ■ ly all be collected if gone ahead with, and that would mean another dividend of 15 to 20 per cent to them. The matter ia one which concerns the creditors oi the bank and they can do as they please and vote to accept the SIO,OOO if they desire, but the above are the facts in the case as nearly as oan be learned, and if they so vote or sign the petition for the compromise they will do it with their eyes open. i Many of the heavy losers in the bank here have refused to sign the petition, saying that Thompson owes praotically the Whole amount jot nothing. It is not thought here that many of the creditors will sign the petition.