Newspapers / The Daily Advance (Elizabeth … / March 14, 1924, edition 1 / Page 5
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Money F or New High School Reposes In Three Banks j I'rolialily Will Remain There for Twelve Months or More Until -Suit Brought hy Contractor L. B. Perry Against Bonding Company (?.at?lie Settled Though Elizabeth City"* uewj quarter of a million dollar high , school building Is now complete anil in daily use, it is not paid for. and J probably will not be paid for any- 1 -tnme within the next twelve months. I to tedious are the processes of the J courts in settling civil-Issues. A little more than $50,000.00 of] the money derWed from the sale of the issue of $400,*A)0 in schoo. 1 bonds has been equally divided .-tmong three of the Elizabeth Citj banks, where It will remain at inter est until a suit brought bv L. B. Perry, to whom was awarded the contract for the erection of the building, versus his bonding com-1 pany, the Southern Surety Company of Des Moines. Iowa, can be settled. As the suit has been but recently in stituted and many cases are 011 the calendar ahead of it. probably it will not go on the calendar fc/r trial be fore January 1925. In order to discharge fully all their obligations and to avoid f?r | ther liabilities in the matter, the board of school trustees of Eliz abeth City at the February term of| Fun 1 rfrr C 11 1 t 11 "? funir .Judge Devln an order permitting them to pay the amount In contro versy. $54,028.79 to be exact. Into the hands of the Clerk of the Super ior Court to be divided equally among the First & Citizens National, the Savings Hank & Trust Company aid the Carolina Banking & Trust Company and deposited at Interest until the suit can be settled. The suit, however. Involve* up wards of $80,000. as the plaintiff is asking for a punitive award in the; sum of $25,000 "for damages to his credit and reputation." The suit is the result of a contro versy between Mr. Perry and his j bonding company as to the term* of I a contract entered Into In September 1923. It la the claim of Mr. Perry that the contract agreed upon in the fall of 1923 annulled a former con tract entered into when the con-l structlon of the Mgh school began. The surety company's representa tives. on the other hand, contend that the contract entered into in September 1923 was to be consider ed simply a part of the contract made in July 1921 between Mr. Perry and the bonding company, and the surely company asks the court for $33,000 which It claims It ad vanced to Mr. Perry in September in order that the construction of the high school building might be com pleted. The Complaint In substance the complaint con tends: "That on or about the first day of July. 1922. the plaintiff entered in to a certain contract with lh" Board of Graded School Trustees of Elizabeth City, under the terms of which, for an agreed compensation I of $27 3, <550, the plaintiff under took and agreed to construct two certain school buildings, the Eliza beth City High School and the col ored graded school building. "That as a condition of awarding the plaintiff the contract, it was re quired by the Board of Trustees that the plaintiff, prior to taking up the work of the contract, should ex ecute a bond in the sum of $135,000. and that the plaintiff thereupon on July 15 executed said bond with the Southern Surety Company. "Thkt In August, 1923 when the graded school had been practically completed, the plaintiff, being In need of financial assistance to fully complete the high school, made ap plication to the Board of Trustees to reduce the amount of the agreed compensation to be retained by the | board until the completion of the contract, to ten per cent, and went before the board with a representa tive of the defendant company, one Butler; but that the board refused to consent to the plaintiff's request for the reason that It did not have the mouey to make advances; that j thereupon on the first day of 8ep i tember, 1923. the defendant agreed to assume and absolutely discharge j all terms of the contract binding upon tho plaintiff, and particularly agreed to pay all the outstanding m hills for labor and materials COB K. traded by the plaintiff in tile per formance of said work then due I (except V6.000.00 specifically as sumed by the plaintiff) and. for this purpose, to kee pon deposit In the bank at all times sufficient funds for the payment of labor and material bills; such funds to be de 1 posited in the name of the plaintiff as trustee and to be drawn only I upon the plaintiff's check, cc/unter [ signed by W, A. Worth. "That plaintiff has been ready.' I able and willing at all times to per form the contract on his part nnd. having duly assigned to the defen-j j dant all amounts due or to become I t due by the plaintiff un^er the, terms of his contract with the: | board, the plaintiff did immediately j #nter upon the execution of th# con-i tract on his part. Later the de- ' | fendnnt in wrongful breach of the contract refused to pay the refriln-l der of the bills due at the time ofj the execution of the contract or to further perform in any particular the term* ?n?' obligations binding upon the defendant. "That as a natural and approxi mate consequence of the breach I there is now outstanding and un-| paid the sum of $37,211.09. with, interest, bills for material due upon i the execution of the contract, and 1 $11,421.11, with Interest, bills fori I materials subsequently becoming due. and that the plaintiff, has been I ; compelled to pay and has paid the! -amount of $297.48, bills for mater ials becoming due and the further' i sum of $7,545.05 for the labor used' In the completion of said work since; ( the execution of the contract ? all, of which said amounts, for bothi I labor and materials, the defendant | ! contracted to take and wrongfully' i refused to do. '?That at the time of the execution | of the said contract, there was still' ! due upon the plaintiff's contract! j with the hoard, to be 'paid to the| ; plaintiff upon the completion of said, | building the sum of $61,933.49 ? of which amount a certain portion was paid by the board to the de- ' frndant ? company as the plplntiff'n assignees. during the defendant's | temporary performance of said con-, tract ? leaving now In the hands of the board the sum of $54,028.89 j and a further sum for extra work, j of $1,851.00, all of which the plain tiff by reason of the defendant's de ? fault, is justly entitled but which I sum the defendant wrongfully re fuses to consent to be paid over to the plaintiff by* the board. "That at the time of the execu Jtlcm of thi- said contract the defend ant cause the plaintiff to write to a large number of creditors for mater ials. giving tin* plaintiff personal assurance that the. bills would bo paid at an early dute; and that by reason of the defendant's failure to pay certain bills, as agreed and fur 1 ther to perform, its other agreements not in the contract ? all of which said defaults on defendant's part were as plaintiff is informed. be lieves and so avers, wilful, wanton and malicious ? the plaintiff. in addition to the pecuniary loss sus tained, has been damaged in his I credit and business reputation in the sum of $25,000.00. "Wherefore, the plaintiff prays Judgment against the defendant in the sum of $56,47 4.7 2. with inter est. being the amount due for labor and materials; that the defendant be required to immediately consent , to the application by the Hoard of $55,879.89 to the amounts due as I aforesaid : for the $25,000.00 (lam ages to the plaintiff's credit and reputation and for his costs in this action to be taxed by the clerk." The Answer The bonding company's answer, after admitting the execution of the surety bond referred to in the com plaint, continues in substance as fol lows "No liability whatsover has been assumed by this defendant except ! such liability as was fixed upon them by the execution of the bond referred to which was executed upon the application of the plaintiff. "On about the 11th of September. | 1923, Mr. Perry, having completed the erection of the colored school building and having received from I the Board of Graded School Trus tees practically the entire amount of , the price to be paid him for the building or the entire proportion of the said contract price which was due him and on account of the col i ored building and having also com pleted a substantial part of the work on the High School Building and having received a substantial pro portion of the compensation due him under the contract for the High j -School Building, represented to this' ! defendant that he was enibarassed financially and by reason of his fi nancial embarassment would have difficulty in completing the High School Building In accordance with the contract and that by reason of the same this defendant, under Its j contract of suretyship, was likely to j suffer substantial loss and the plain tiff representatives as a result of which and In connection with the {contractual relationship already ex isting between Mr. Perry and this de fendants In the form of application j and bond, an agreement was reached | I between the parties looking towards' the further financing of Mr. Perry | in connection with the High School . Building by this defendant under an j arrangement which would enable him to complete the same in accordance^ with the contract and at the Maine time save this defendant Surely Company harmless. "In accordance with the agree- 1 ment and understanding and in an effort in Rood faith to carry out the spirit and letter of the same, this | defendant advanced for the benefit of Mr. Perry a large sum of money. $33,000.00 ? This defendant complied in a*.', respects with both the letter and the spirit of the true agreement made and entered into between tl.e parties and in keeping with the same made large outlays by way of advance ments for the use and benefit of the plaintiff in connection with the buildings as above set forth. "The plaintiff failed to keep his agreement either In letter or spirit and particularly the plaintiff wrong fully and unlawfully misapplied a large part of the funds received by way of advancements as abovje_9et forth and paid the same on debts and obligations other than those contracted with the High School building and those contemplated by the agreement; and further failed and neglected to give notes and se cure leases for the particular claims aggregating $6,000, set forth In the agreement; and further failed to furnish to this defendant statements and information requested by this defendant through its agent con cerning the claims and accounts re ferred to in the agreement; and fur ther. In failing and refusing to per mit the defendant through its re presentatives to secure desired and requested information and statements from the claimants with reference ? to the claims, failed to comnlv with his contract; and finally the plain : tiff declined and refused to admit | any liability, whatsotvet for any of the funds advanced > by this defen I dant to the plaintiff or for any I which might he advanced by the de , fendant under the arrangements, and then only this defendant de i clined to make further advances to ] the plaintiff and this defendant is informed, believes and alleges thai ! its refusal to make further advance; when the plaintiff was declining to ! admit liability to .reimburse the de fendant was rightful and that the plaintiff had himself breached the contract in this and various other [ particulars. ; This defendant has in all respects complied with its agreement with i plaintiff hut contends that the plain ' tiff has wrongfully breached his 1 agreement and has refused to repay or to recognize his obligation to re ! pay or refund to this defendant the I advances so made In his behalf. "This defendant prays that plain tiff take nothing by his action and i that as to it this defendant go with out delay and recover Its costs; that the agreement between the parties 1 if necessary lie reformed in accord I ance with the true agreement made between them; that an accounting ; be had and taken between the par ! tlea to a set .'tain the amount due thlf j defendant by way of advancement? 'to the plaintiff, and that this de fendant have judgment on Its coun ter-claim for plaintiff's breach of hi* contract and for the money so had. received, paid out and advanced in behalf of plaintiff in the sum ol $3.1.000.00 and $16,747.00 or some other large sum together with in terest on the same for costs and for such other and further relief as the defendant may be entitled to re ceive." CA STOMA MILLS TO CURTAIL OUTFI T Gastonia. March 14. ? Local cot ton mills will curtail their output by 25 per cent on account of the In active market for yarns. should not b? "dosed." Tr#et them externally with? VJCKS Ymmrfy Whfn Time In Precious Give Us A King. The Apothecary Shop Phone 400 ALONG THK WATERFRONT The freighter Nellie Bly is hauled | out on Willey's railway undergoing I repairs and conditioning. | The tug Ixinibert's Point was ' launched Thursday from the railway i 'at the Elizabeth City Iron Works. I after undergoing repairs which have ? I last?'d several days. | C. P. Daniels has libeled the j freighter iNVIlie Bly for seaman's ' wages in the t'nited States Court.' | The owners of the craft. W. h. I Hampton and Sons, have given bond t for tin* release of the vessel and will probably fight the libel proceedings. Vessel* In Port. Schooner W. M. Hill, foot of Main | street. Schooner Flossie M. Mulr at j : Woodley's wharf. Steamer Texas, at Elizabeth City I Iron Works, waiting for charter. Steam tug Viente y Tres. at Ellz- i jabeth City Iron Works, tied up. North River Line. Steamer Annie L. Vansclver sails i ! Tuesdays. Thursday and Saturdays fit 2:30 p. m. for Cowells wharf. Old I (Trap. Newborns Landing. Jarvlsburg.1 ? Burnetts Creek. Coinjock. Indian Isl- 1 and. Long Point and Norfolk. Gas boat Eva sails Tuesdays and j Fridays at 11 a. m. for Point Har- j | bor. Halls Harbor, Hog Quarte", and i Kitty Hawk. j Gas boat Jones sails Thursdays at I 2 a. in. for East Lake, Gum Neck,! 1 Kilkenny and Fairfield. KllzjilM'tli City Boat Line Steamers Harby and Virginia 1 Dare ? daily at 3 p. m. for Jarvis jbi?**K. Indian Island, Coinjock. Long I Point and Norfolk. : ? Wnncheoe Line u Motor vessels Hattle Creef andl 1 Pompano sail Tuesdays. Thursdays i and Saturdays for Wanchcse, Stum py Point, and Mann's Hfirbor. Matthews une i Gas boat Hay sails Mondays,! Wednesday's and Fridays at 2 p. in. firr Soul h Mills. Rennet I'm N. C. Lino '| Emma K. sfiils Tuesdays, Thurs-' M days and Saturdays at 2 p. m. for ' South Mills, and Pasquotank RL*er lan dings. (?utlirie Line Rebecca sails Wednesdays for Englehahl, Middleton, and Lake I Landing. Cooper Line Mamie G. sails Thursdays at 10 a. m. for Columbia and Creswell. \ Alligator River Line Isle of Surry sails Wednesdays and Saturdays for Fairfield. Gum Neck and East Lake and Kilkenny. ! Eastern Carolina Transportation Co. Steamer Trenton sails daily at 1:30 p# m. for Nags Head and Man too. I I NEW GRANNY BIILIMNG j IS NOW BEING 0< CI PIEB , Elizabeth City's newest business < building is now being occupied. The new Graudy Building on Water 1 street adjacent to the Camden bridge . 1 lias been leased to three firms; the , 1 Tidewater Bulck Company. W. F. Williams, and C. A. Tasker. The 1 first two named are already installed I in their new headquarters and the f third location is ready for occupan | <*y. ? I NEW ARRIVALS I Big assortment of Boys Two Pants' Suits now on display. T. T. TUIt-j | N ER & Co. adv I NINETY ACRES IIIGH LAND Rullr drained. lcr?tert n ear Crook*! Cwk In Camdfn Coiinljr about 100 1 yard* from th* Main Road. Will aall J or trad#. Apply to Gallop & Sawyer ' CnnMillilRtr Your DEBTS Pay lit Weekly. Thr IltMKl IndiiKtrial Bunk The Apothecary Shop PHONIC 400 A Good Drug Store V. H. AND (iOOI)YKAR TIRRH For Sen- Ire and Hat l?f art ton auto sippi,r vuu tNizna Com pan 7 PHONK 4*7 NOflTII CAflW.IXA. I'AWHOTANK i Of NTT. xt I'Mtiori roniT. IIKIOItK Till: < 'I.Kit K. 4\ E. OVI.II.MAN. Plaintiff. Jf'f.f AN C. MORfJA V I>t-f? mlari'. OICIIKK. T?ii? fan??- romln* n??w in lie (hihI and l? an- | I" urina to Ih' ??rt from ttn- nimi>liliii HHM I tiled h< r' In that tli* HalnMT ami d'-findant ?r* | t.-noni* In common of the trlci uf )?ml oui th*-r*tn: thai aaid tract of land ranm<* ?? falrlj or fiinl??l>i* dh-idrd ami dial a ?al* of tl tr ?arm' l? di^taain for i Vtovrr dirMon mmni ih? panic* MflMMl; iliti tlM' defendant i? a nun re?ldeni of tin- Siai* of North ? amlina. nml afi.-r d'ic dillowr nnnm l? found In (Ik- Wat*, ami that h* i? I l>rnt?rr and n?**?ry partr to th* determination of thi* action. It I*. ilnrrfor*. ordi-rtd bf th* mttrt that th* M'mlam, Julian C, Morgan lv and ai>p *ar before m* ai im office In tin* f'nort Hmi-* in Kiirabttb I'ltr. V t' . on th* 19th da> ? 4 Ai.nl. f?9l. and ?n>wi r or demur tn ih? pHltlon wlitrh lia* hern 11*4 in tlii* caii?-. Tli" defendant i? h*r*bf notified thai ih# j-urpo"* if ihi? MM ia in Mil for (ifttlRMf IhM .rrt?ii tract uf lan?l on th* road l-adma to X. wland ad fining tlir land* of \ H HiatT'ird. Jo**|i?i M*lf'. ind ih? hlllntt V\li|lditir4 l*nd<. containing id Hi**, and h^ini ih? land* rti-il"il In ll*lm M-t lan iikiw Matln-wo. Marram Morgan ami Julian i m rnn in ihr la-i will ami teaiaimnt of It Xi*?n Morgan. th* priltlimrt owning two third* In err* i In th* untr and the defendant on* third. a ?an of th* iam? being lo ih* d"w<r rl?ht if Mm. Addle y Morgan. Ii I* fnrlhrf ordered lhaf I enpt of thl? ord*f hall h* |nihll*h*d In Th* Ad* a nr. one* a k for mir MirrtMlff week* and lhai ilii- diall he ml leler* Mr? in ihr defendant. March fth. 1*94. KIIMKflT K ?AWTK*. nar11.17.94.lt Clrtft *uu*rlor COMt, THE K OM I.VS R E iK STORE The New Sport Top Coat (hie from the collar thiun. these neir Spring Topcoats assure such delightful smartness yort tron't Iw ahle to resist hurinp one once yon have seen them. Many stylish over plaids. Homan stripes; also plain cidors in tan. fallotc. camel, etc., are slioivti in smart models, fashioned of m?. terials correct in tceiffht for the present anil chilly Spring days later on. .ill are beautifully lined antl Itace diversity enough in fashioning to satisfy the most discrim inating taste. Moderately Priced ? *10 ?! to s49 ^ See these Coats ? the freshness of Spring is evident in each one of them. M. Leigh Sheep Co. I rOM.4\'S WEAR ? Looking At It From Your Side ? ONE-SIDED TRANSACTIONS HAVE NO l'LACE IN THIS HANK. WE RELIEVE IN LOOKING AT IJOTH SIDES YOI HS AS WELL AS OI K OWN. orif CHIEF CONCERN IS TO I'LEASB Ynr. NOT OURSELVES; AND WE WILL 00 AS EAR AS SOUND DAN KIN'! I'RACTICE WILL I.KT IS IN GIVING YOll THAT KIND OF SERVICE. INSTEAD OF DO! NO AS UTTI.E AS WE CAN FOR OL'R CUSTOMERS, OFR IDEV IS TO DO AS MUCH AS WE CAN. THEREFORE. NOTHINO THAT YOU MAY ASK US TO DO IN THE WAY OF SERVING YOI: WILL EVER HE REGARDED AS A "BOTHER." WE ENCOURAGE THE OPENING OF SMALL ACCOUNTS THE FIRST & CITIZENS NATIONAL BANK ?%! ELIZABETH CITY, N. C. < ?5 711 O KIM)S OF INTEREST ? PERSONA L AND / PER CE\T ? ? ? ? ? ? ? ^ ? A A A A ?fi? A A A A A A A A i
The Daily Advance (Elizabeth City, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
March 14, 1924, edition 1
5
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