, 1875-02-07
r.ars That The ASSETS Will fet Exceed Ten
Cents On The Dollar.
4 sInqu!ar Interchange Of Misplaced
Confidence.
so,1e Facts About the Big Mortgage.


s,ecial D1spateh to Ihe Chiea0o Tribune.
nrs No,srs. Feb. 6.--TLera have been no new
d.velopmeuts in the Affairs OF 3. F. Allen to
d.r, The dissatisfaction existing yesterday a.
ii. st.,ament il growing IN intenaitv, bus he
rnaiotains Ills reticence IN the face OF the DO
.o,nd for further explanation HIS creditors
have very little cause for hoping for ANYTHING
h1r tho worst. His statement from its in
de6nits character, and want Of DETAIL Il
,ccsrted a. SIMPLY ''pro:niss to pas" and is
m IA. With his former promise to pay dollar
for do.lar, made when he must have been con-
Rcions that he could not possibly fulfill 1t. Moth
inr further has been CLEANED Of the character OF
his assets that tends 70 eneourasa anybody. Ihe
re.i estate item Of his statement, amounting
to $1,204.Gl5, il said by good authority
to be worth, il put on the market
nov, not to exceed 800. .o03, s large portion OF
xhich consists Of wild lapds which he has val
ned H. eos peg acre. It is claimed also, that his
tile to the pr operty is not clear, and that he
holds 1t simply in trnst- On the ether hand, IN
ahst1act-uaan says that his real estate in this
etv aiore il worth 81, ,0o0, 900. al OF which is
fncumbered, however, and to What extent no.
body knows
THE DIES Ao1sEs ATMOSPHERE.
A stranger coming to this city 1t present Ii
oecullarly impressed. ii be chances to stop Ct
one hotel. and in his walks waits another, he
will be likely to meet i difference Of opinion
On one OF the leading hotels Mr. Allen has
mortgage OF nearly 100000. The atmosphere
taereapouts IL laden With praises OF Mr. Alien
and EXPRESSIONS OF confidence N him. a.
smother fret class house the Ecene
changes, and nothing but ewses are heard The
same condition Of aflairs will be found TO exist
among this business public generally. thus man
is freud and this one I foe, According 70 e1-
per7enee and interest. In fact the city may no"
be sud to be divided irto TWO distinct classes
those Mr. Allen owes constitute the larger class,
md those who owe hum, are under obl:Gatlonsto to
him. constitute the other. The former class
manifest for him mingled spirit OF friendship
and contempt, and the latter are iond N tnen
them u individuals and for the advancement OF
the CITY 1t large. Strange at it may seem,
THE ENaISH PRESS
with one exception, nad that the Daily journal.
belong to The latter H., class ane eosag tbst
II haa been impossible to get anything
else than commitments in their columns. The
tendency of this conduct on their part has 1een
to insple C, EDITORS with false hope, especiail7
those ontside OF the city and unacqua:nted with
the situa1iou, which was evidenced in the meet
Ing yesterday Following his statement, 1t WILL
be remembered. came the proposition to appoint
him the sole custodian Of his assets ior tho bene
lit Of his creditors This ia believed "
many to have beoa tha aim and Pnlpnse p
OF the two pagers in question IN taking the
course they have, and the belief il strengthened
bv the sef-eyideut fact that Mr.. Allen might be
able 70 do better rart by the papers in settling
with tLa1n than would the courts or the Sheiah.
ANOTHER REGULARITY
here would strike the stranger, and that ls the
fact that up to day or two ago the
leading creditors had relied upon the sur
plus assets Of the Cook County Bang
ind the bauk OF Allen, Stephens d
The Iowa property proved inadequate to meet 1t
has been cla,med here BY Mr- Allen snd his nd,
vise4s that the Cook County Bank nloue had
availabe assets iu excess OF its liabilities to the
extent Of 800, GOO. a gentleman who has just
returned from Chicago reports that he found
Chicago creditors relyins upon Iowa to
the Cook County Baok tnere: He
states upon the best authority that 1t will lake
2yer 81, ,UoO. 900 TO meet tho demands OF deposit
ms in tie Cook County Bank alone and that.
from the best sources OF information, the bank
e whole 10 ve1y much Like squeezed orange.
These reports, 90 we'll authenticated, and tol.o"-
Ing tie statement Of yesterday so closely, have
had the effect to arouse new interest," IN tne
trouble. and convinced many do1bters that
Aliens failure is one Of tho mos. complete and
disastrous in the list &f financial crashes, aHect-
ing - it does the futurs OF hundreds IN thus and
osher Staten who had iairustsd thar al to his
keeping.
THAT BIG MORTGAGE .---...-
4 GOOD deal Of interest centres in the 5000. 900
mortgage OF stephens l. Dlenne! hasse:t, OF New
TorK. which covcrs, it anything, his entire
real estate. Alien said yesterday that II II
the cium war sustained lis surplus
showing would vanish at once, IN
which event no one here would get nylhing.
A1. Allen has this mortgage in bis possession.
xnd. wl,lle 1t is matter Of record here, it ia
marked '.eatisded" At bis instance, as the senior
partner of Allen. Stephens Co. There are =
gage. One is that Allen ia fighting it
AMPLY for appearance sake, and that it
was given anticipating bankruptcy. proceed
ings for no. other purpose than to pro
tect it from lis credtors- Many believe,
while Allen says the mortgage is . fraud. thai
After his estate has passed through bankrup1cy
he will be fQund to be possessed OF the prep
ezty. Some of the leading attorneys and Ct edit
oFs Of toe city are satisfied, however. that the
mortgage wil really prove fraudulent u 10 ,ts con- on,
not stand, for the reason that it was
issued two months in advance Of its' record.
which. it will be seen, makes Impossible thst II
was aute-dated. /. becsm = matter OF record
just sixtytr days ate. its date. or three davs
After its age was supposed TO protect it from
bankruptcy proceedings No oEe here, NOW,
doubts for moment that il tue mortgage. al.
legged or real, had been inside 4 matter OF record
With its date, but that the proceedings asn,nsi
Allen taken yesterday would have been begun
two months ago. The fact that it mas
not recorded is dubious, and q severe
reflection upon Mr. Aliens integrity and honesty
Of purpose The recording OF it would have
saved the widows, orphans, laboEera, and mtr'
chants Of the civ thousands of dollars, which
&1o now looked up somewhere and swell the
snorzu1ty Of Alleu's debts.
THE CREDITORS MEETING MONDAY.
There seems to be but one opinlor
: IN references to what will be done at tl,f
cred;sors' mseting Monday. The disposit,ot
u to throw him iuto bankruptcy, simply
II means to get in possession
Of his property II ia intended in the proceed
tngs to avoid as much of the machinery OF bank
rnptcy ~ possible, aud it Ii highly probable tha
three or mora Assisnees will be appointed t
conduct the entire settlement under the dIreo
ton Of tbs creditors at large. There is deeT
anxiety TO get down into the bowels OF Allen''
asset statement, which, Is telegraphed yester.
day, is regarded as largely nv th'cal. u
The unknown assets prove as worthless "a Tx
knoxn, he will not pay 10 eente on the dollar
He ta not known to hold dollars worth o.
property anywhere, his homestead even belnf
hYpoth0cAted.