Rock Island Argus

Old Suit Settled,

Judge Grosscup's decision in the Brush Electric company, of Cleveland, against the Rock Island County Brush Electric Light company case has been received by Sweeney & Walker, who represented the stockholders of the Rock Island company and Peter Fries and the Rock Island National bank, and is a victory for the latter. The suit was commenced in 189? in the federal court at Peoria with a view to setting aside the trust deed given on the Rock Island company's property in order to secure the $10,000 bonds issued in 1887. The money realized from the bond sale was used in purchasing the First avenue property, against which the Cleveland company had obtained judgement for $10,000 after the sale of the bonds, which were bought by Peter Fries and the Rock Island National bank, both of whom would have been out the entire amount of their investment had the Cleveland company been successful in the case. A cross bill to the Cleveland company's creditors' bill was filed, and on this Judge Grosscup has decided that the Rock Island people are in the right. Since the proceedings were began the Rock Island electric plant has been sold and the $10,000 realized therefrom and held in trust by T. J. Robinson goes to Peter Fries and the Rock Island National bank as buyers of the bonds according to the decision.