Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1875-02-10
oTTUMwA, wAPELLo coJNTY. Vol

and make the present bashful, brow
beaten farmer q peer Of the shrewd
railroad man, the stern lawyer and the
precise banker. d A. KENT.
Elkhart, Iowa, Jan, 1875.
1
WHAT ALLIED THE COOK COUNTY
NATIONAL DANk.
The Chicago Tri0wnc gives tho fol.
lowing as part Of tho history of B.
+. Allen, bis connection with the Miss
issippi and Missouri River (now G. r.
Il Pacific) Railroad, and the Cook
county National Bank:
THE MISSISSIPPI MISSOURI RIVER n. r..
Was very important ono in Iowa ten
years ago, aud, unless figures lie, and
with them court records, aud all the
well informed Iowa men in Chicago,
Aliens connection with its affairs had
more to do with his catastrophe in the
Cook County National Bank than the
bad bargain he says he made in buy.
ing 1t. It was in this way The Miss
issippi y Missouri River railroad was
incorporated about 1852, to run
through Iowa from Davenport TO
Council Bluffs. So deep was the in.
terest Of the people OF tho state that
isIstn-s T. isee s;. = 'Sssa ~ ah.,s ~ sns .ge
0ensrnn. q or.nt AZ nnh,,c M i isn5. a.u u. =
maSa ~ !. 81 .ha v.,ra @ - 49,. "As
--- - " - 's ' - "o1s
THREE MILLIONS Of DOLLARS.
Tho construction Of the road rapidly
progressed under this genial stimulus.
The Chicago Il Rock Island Railroad
was deeply fnterested in the enter.
prise, % It was direct and valusble
tributary to their line. They took the
bonds OF the road and advanced mon.
ey and materials TO build It.. The road
was carried as far ~ Kellogg, about IS
miles west of Iowa City At this
point the Chicago q Rock Island Com.
pany decided TO take the promising
vohhin a. % - 49,. .s1 n.y.. sIse'ssy ca,e, 70
81 yHs 49,. ,.s.. -, ~ so 10y ivEecioseo
sh.s.S UV.Is Wy na1 PuT..
;n,srs., ;, 's... .an ~ ns0L san pF,rrclPa r ana
right wer. ;rd;snnt. IN u HI. .ne,r snd 'eEs. r.
rHsac,o.ns. No. -. a.RssAy,0, ~, .uu .ne
ssst"rcs - ~ ~ ..aSII,ap s. aLospl.e sne re- e
q ~ ~ = .e ssovAuv.uuIs l UI sne ~.
oo..s,,s ~, sne ."o sv.1s Ws.e tnereupon
So"1.'eu' arms point
ME. ?. :. AIIrH lsrlss' !.
suu ne.o 0eeins = eompilcaslon which,
O.."an .n PFo9lec - spRerentiy
suuIu y suln. *nsre Mes que the
psIuos ~ interest - sne =. y ~,
Of their hon5s ~ - -. =. hrr.ss ,s.ss wss.s
had been iasned ~ the conrt;o. 49,, .rS
cities Of the Stafa. Ofths istt.r ASm.-
catine Vas one. On The demsrd ~
these parties in Interest, the United
otates District Court OF Des MOines
spp0inted . receiver TO receive and
noio the amount due. The receiver
was Mr. 3. +. Allen, "the so-called
Iowa BANKER" ~ he deprecatingly
styles nimself.
NO LESS THAN $4,000
was in this wav. In the year 1857 n,.cad
In his hands. bv the conrt 10 hoId for
the stockholders and bondholders of
the Mississippt y Missouri Railroad.
His appointment was satisfactory to
the Chicago 2 Rock leland Railroad
ana the MlasiseIppi q Missouri Rail-
roed as weli. He gave no security.
ana neld TINS vast sum subject to the
order OF the court, paying for 1t 8 per
So}derrsf rfe end sfSoeeS kcoiidders of tha M 4,
NJ. forthwith fell into fnriona Iiff~ef,or
ae to their respectiye aharcs al fhc snm
In Mr.. Aliens caro-. and meanwhile Il
grew in his hands.
Avn ur ,.o.pr,r,
u.h.. A.. - ana",., 80 ~ e.,
Inwo s ''AG is. '1s xnsa ns.lcisa s Goio:.us OF
49, ~ W 1vuIuo0 Dsoks ~ LOS
Moines, Ncw ! ork, ana Council blnns:
cssaIs, became ) ssSck kSoiGef ~ In aonHs.
less corporations. With this enorm-
ous fund in his hand, he carried Cen.
tral lows, financially, for years. He
.oanea an overy uirecllon. MS inter-
r. ;s ss;S the, h;s S,ss I 90. o. IOS'.u h.e,. rn..
This hich tide of nrosner;ty % cont;nnoI
nnt;l 1874 In That vear he eN
s.
GAME ~ oHicAso'
a!iured, 1t is said, by Mr.. John +.
Tracy, VINO is believed to have shared
WIN MN In the prohte OF ms rich trust,
since II was tnrougn mis- 1nnuence that
Mr. Allen received 1t. Mr.. Tracy
urged MIN 70 seek broader Held, and
make MS reputation and success ma
tlonal, with chicago 20 his centre. He
mad $5OOUo 10 cash IN his pocket, and
Dougnt win " the COOK County Ma.
taonsl bank, May ~, 1873.
Inc Iitigation between tho stock
holders and bondhoiders Of the Miss
'ssippi q Missouri river railroad was
snil, apparently, iar from settlement
Tnerc was every prosPect that he
would have their $l,OO0,OOO tn his
nands Tor years to come. unfortun-
ately Tor these calculations, and un-
xnown NM WI, 80 n.mse.. S; Sf .ne cour. ~ wnicn
-
FOB A COMPROMISE
were In active progress. These were
successful, and within q few weeks of
OF the time when he placed the last OF
his funds In the Cook Co. bank, the
suit was withdrawn by common con-
sent. At tho request Of the bcnef1ci.
aries, the court at once called on Mr..
Allen to render up the 100000 and