Beach v. Bellwood

51 S.E. 184, 104 Va. 170, 1905 Va. LEXIS 84
CourtSupreme Court of Virginia
DecidedJune 15, 1905
StatusPublished
Cited by11 cases

This text of 51 S.E. 184 (Beach v. Bellwood) is published on Counsel Stack Legal Research, covering Supreme Court of Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Beach v. Bellwood, 51 S.E. 184, 104 Va. 170, 1905 Va. LEXIS 84 (Va. 1905).

Opinion

OaRdwell, J.,

delivered the opinion of the court.

The facts out of which this controversy arises are as follows: Appellee, complainant in the court below, James Bell-wood, was in the early part of 1898 the owner and occupant of a large farm, situated in Chesterfield county, immediately on the Petersburg turnpike, about seven or eight miles from the city of Manchester, and between appellee’s farm and the city of Manchester there is a tract of 435 acres, then owned by one George A. Madill, of St. Louis, Mo., which latter tract will bo spoken of here, as in the record, as the Madill tract. The Madill tract fronts about one mile upon the turnpike, extending back to James river, and includes the famous and historic spot called “Drewry’s Bluff.” Por some years Bellwood had desired to become the owner of the Madill tract, as one that would make a most valuable addition to his own farm by giving it especial advantages, independent of its mere intrinsic value, and accordingly he had negotiations with Madill in reference to its purchase; and in consideration of his agreeing to exercise a supervision over it, Madill agreed that he could have a preference over all others in purchasing it in case he (Madill) resolved to sell it.

In the spring of 1898, Corbin Warwick, of the city of Richmond, conceived a scheme for building an electric railroad along said turnpike from Manchester to Petersburg, and laid his plans before William L. Royall, of the same city, who joined with him in the undertaking, and these two took into conference one John C. Short, of the city of ISTew York, who represented to them that he was a broker of that city and connected closely [172]*172with strong financial people, amongst whom he conlcl easily raise the necessary money for the enterprise if a charter of incorporation was secured. Thereupon an agreement was entered into between Warwick, Royall and Short, that Warwick and Royall should secure a charter for the enterprise, and Short was then to secure the necessary money, and whatever was realized as profits from, the enterprise was to he divided into halves, of which Short was to have one-half and Warwick and Royall were to have the other half, to he divided equally between them. Warwick and Royall obtained the charter from the Legislature, incorporating the Richmond & Petersburg Electric Railway Company. Warwick’s plan for the electric railroad, contemplated the acquisition of the IVEadill tract and the conversion of “Drewry’s Bluff” into an ornamental pleasure ground, to which the electric road would carry hundreds of thousands of visitors each year. Warwick considered this park the most attractive feature of the scheme, and the one that would most surely make the enterprise a paying one from the beginning, and in this view both Royall and Short concurred, the latter considering it the pivot upon which the whole enterprise wTas to turn. In connection with that view, Short in a letter, to Bellwood, of April 3, 1899, referring to proceedings by the R. P. & C. R. R. Co. to condemn a right of way through the Madill tract, says: “I am glad you notified the man'who accompanied the sheriff that he had better notify his railroad company that the Madill land had been purchased for a public park, and that it was the corner-stone of the whole enterprise, and the carrying out of the plans would cost several hundred thousand dollars.” Bellwood was of opinion that an electric road upon the pike from Manchester to Petersburg would be a paying one, and of the greatest value and importance to those who resided upon its line, and that it would be of the very greatest value and importance to himself, and he was willing to contribute of his time, labor, and money to secure its construction.-

[173]*173Warwick solicited Bellwood to obtain from Madill, for him (Warwick) an option to purchase the Madill tract, which Belh wood applied to Madill for, hut he (Madill) refused to give Warwick the option. Thus matters stood until February, 1899, when Short came to Richmond, and he and Warwick went together to visit Belwood and the Madill tract; and as there had been so much talk about the acquisition of the Madill tract, Bellwood concluded the time had arrived when he must buy it, and he had a few days before this written to Madill concerning its purchase, and had received from him an offer to sell him the land for $,5;000' — $1,000 to be paid in cash, the rest in three annual notes, secured by deed of trust on the land, the purchase to be closed by February 20th. Bellwood showed this offer, which Avas in a letter from Madill, to Short and Warwick when they were on the visit to him just mentioned, and he told Short that if he was going to build the electric road he would let him have the land to be converted into a park in connection with the road, and also told him he had long wanted the land as an addition to his farm and would not allow it to go for anything or to anybody except' the electric road. This was understood by Short at the time, and he agreed that the land should be taken as a part of the electric road scheme, saying that he would commence.to build the road within thirty days and have it completed in ninety days, and that he would spend sixty thousand dollars on the park, etc. It was then further agreed that Short would put up the $1,000' cash payment; that Bellwood would buy the Madill land in his own name, giving his three notes for the deferred payments, and deed of trust on the land to secure them; and on this understanding Madill was notified by Bellwood that his offer was accepted, and was asked to send a deed to the property to a bank or trust company in Richmond, in .order that the purchase might be closed. Short got the $1,000' from his son-in-law, Ferdinand Beach, and in the interval between closing the contract and settling for the land there was some discussion about how the title of the land was to stand, [174]*174there being some disagreement between Short, Warwick, and Boyall upon this point. Short and Warwick wanted a separate land company to hold the land, so that it would not be covered by the railroad mortgage, while Boyall wanted the land conveyed directly to the railroad company so as to make 'that enterprise as strong as possible. It was finally agreed that there should be a land company to hold the land, and in the mean time Short wanted the title conveyed to his son-in-law, Beach, but Bellwood raised the point that if this was done Beach might cut and remove the timber, the railroad scheme might fall through and he be left to pay for and take the land with the timber gone. To meet this suggestion, it was proposed by Boyall that the land be conveyed to Beach by a deed held in escrow till Belwood’s notes were paid, which proposition was satisfactory to Short, except that he wanted to form the land company at once and get possession of the land, and to accomplish this it was agreed that a provision should be inserted in the escrow, that if the land company was formed and issued its bonds, not to exceed $100,000, on depositing $8,000 of these bonds as collateral security to Bellwood, the deed might be delivered to B'each, and with this understanding Bellwood was satisfied, he also understanding, .as did the other parties to these negotiations, that the proposed land company and the electric railroad were to be under the same management and control. This understanding being reached, Warwick being-in possession of Beach’s certified check for $1,000, Warwick and Bellwood and wife met at Boyall’s office to complete the the transaction. Bellwood having entire confidence in Boyall, left to him the preparation of all papers necessary to carry out the agreement between the parties.

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Cite This Page — Counsel Stack

Bluebook (online)
51 S.E. 184, 104 Va. 170, 1905 Va. LEXIS 84, Counsel Stack Legal Research, https://law.counselstack.com/opinion/beach-v-bellwood-va-1905.