, 1877-09-25
CRUSHED.
fContTnreti from tho Hecond Tn9e.)

sns ,Icprccintlan tn the snltto 81 thta pronctfy
~. h bco;, 80 great that this surplus has alsap-
peafci. c.,rxpr
rrom 1873 until The stsnc of TIC July pantc,
she Fidelity ran along nn2'icst!one1. II
wrn. tsr,Gh tho oanic psr.an, 1t 'S H. Will. I'LL.
eoi es;osna tspfS spI4, Ind a.s"s: IT. repatas'sn w
t1y IT henr an exceedingly cauttotls careful, co,l
u.s,vnttyr man. II was not believed Of him TINT
fs IA sould be caught BY any Of those trnps which
shnas ,,e l,c lid steer clear. ile Inns none OF aam
Wt.iker's papcr, none of Str. l}Dnorc's: bnt he
-. not equally fortunate In avoiding certain
rtheg l,atts for the unwary.
Soon after tt'e passage o. the act s',,, o. laW.
n:hers, bought a lot of land in Sec. 81. u, at
the prc,ty iiIr price Of 800 m mere: This land
iIrs s about midway between tho South Parks mud
Se'fS Ecr ss%s peore.S sf a hi ':,SS''ft .cs i
IT, IT. hci| on to his allotment. which was forty
s,Tef, until the [us1 timcs had passed: and
hen ho would not sell because he believed in a
.eTifal Of values down there. lie VIA also ono
es'ss = Hose - originally Interested In tho "
ctf,uNEr 1 CHICAGO CANAL \ DOOR CosfrANY.
4 large nllotmcnt Of stock VIVA made to him
nnu after the charter wns obtained, anil on
til. he palt a. tlI.l the Others, IN per ccnt per
S;N subsequently, when tie reorganization
took place, the stock wns all turned over tn q.
4. Iioueh rs Trustee; and 0n the tlew deal Mr..
flames rot ten shares Of pofd-up stock. liz
organization. but Ind, It ia believed. consider.
sblo inLtl, In tho enterprise atlrl IN tho fut lrc
ID South Chicago. It was owing TO this TINT hc
VS. Iel into making loans IN that section.
, rs naItsyEo nts H. r. a; sAhnHnI T. ;Ss. n,..v ~.
kton Is apt, Z he non't step back quickly, to
(s1sd M % np IN tie mofass; ana Mr. iiaincs yas 10
exception to that rula. 1fe listened to tbs eln-
however, l.a was exelsatlc, for along IN 1871,
4 and q, tho futusr OF that region scctnrtl
bright, and many Incu Of great. sllrcw1ncss niltl
cptlltn0n acnse believed that the owncrs Of the
xs xese 10 10 .l,e m!i'!oSaircs q tho West. Thfs
bsjcf, which lctl Spencer On 70 his ruin, had
much to do wlsll tho nsl1npsof sr. iin[nes. His
heavier Investments in that rcgton began duty /,
ISIS. wtcn be loaned goo, 600 to Col. Bowen TN Il
i Range Il. Col. Bowen 1natle out o number OF
no,es parable 10 Ills own order, N1liel, were tr-
3otsed over IN blank. These were secured by
trust4lced on tho aforementioned property,
tank, being Trustee. A little further on, to
vii: on the 9th Of the same month. another
9oan OF $12,0O0 was ma.lo TO Col: Bowen, f. II.
7falncs being nEain Trustee. 1t was secured by
! mortrnge On & lot IT. m0ro Of col. Bowens
~, aud IN ortler. to better secure this there
we're male two other mortgages carly In 1875,
orc for &l7,!O0 md anothcr for sI,5oo, all
occurred by mortgages on Calumet PROPERTY.
These have oil been released.
Thcn July l, 1875, catno tic great Investment.
Then bowen borrowed OF lfaines $t00, 900, civ
Inc 200 bonds for $500 eaeh payahlc In five years
I. 10 PR cent. Theso bonds wcrc secured by oil
~ remainder /! .. q bowsns lTerty, sonsIstins
dale Subdivisions tho .. E. 4 Of the 8. Z. Il Of
Sec a, 81, Il; tho N. x OF tho N. ", Y III. .tl,o
ST. il pf The y. ". 4 Of Sec. II, Of, II; OF
!seH. OF ths n. "; and tto =. v 4 of thy
Il Sec. g., 81, i; 81 . Third Of lilo II. ". x q
s.K of tic N. ": Il ii sec. IL, O., Is; and of
some property in Thornton and elsewhere.
One tustallnicnt Of tho eea.!-annual Interest,"
neIt came duo, Jim. !, 1870, 1t was dcfan1tcd.
AZ this time there was quarrel hctwecn z. II.
1la!ees and bis brother, owing, 4 IL alleged. to
legal bill for about go, ,o0o sent III to the bank
BY The former. Tho result Was that E. II.
Ialnes rolinquishcd his position ns Trustee,
making release to George n. Gugc. Untlqr
tho terms OF tho deed tho property was sold at
ths door Of ts,e Fidelity, mud waa !lought IN by
tic bank. The land amounts to eco acrcs or co.
and 1t The time Of tho Loon was valued at about
$4,000 or more. Present value, It l,aa mono,
owing TO Tho depsessed condition of tho renl-cs-
tate market. There was Hn Impression at tho
tins th!s ioan was made TINT It was not for tho
That, however, appears 10 haYa been mistake.
It's believed that Mr.. 1tnincs also toIds
$500 shares OF the common stock Of tho Canal
4 Dock Company. Thfa stock has now no
value, but, since It coat Mr.. ltnsncs nothing, or
next 10 nothing, 1t can hardly be called ati I'M
palmcnt.'
ln addition to these heavy transactions. tl.crc
wcte some quite small ones. Thcro was o LOAF,
q perhaps $4,000 to Boll'and J. Sullivan, con
irasto's, who built block Of houses III South
afair foan. There was also u smaller ono oi
sl,s)o IN hutel little south OF there. These
Ta.'ons small loans possibly aggregate s15,00O,
out they cut no ilKuro "a compared with tbs
ones to Col. Doucll.
TIE RAILWAY CONSTRUCTION CONTRARY.
In 1879 tho sbose.nu1ncd corporation Was or.
ganl1cA In order to build tho 1liiuois Rtrcr Isoad
Which ran from Joliet to etreator, and which
1SaSssaF1ty ~ sassaaenttly gonnca ox the Alton; IL Il
5uptey. snd u Ut present IN tho hands Of Hulk
Icy, ex-employe of the State Savings. Through
some Of tho officers Of tho Company the Fl
acllty Ent stock n IN amount somewhere be,
twecn ~ ,ooo and ~, 900, tho bank taking n
seeurtty bonds Of tho Construction Co,npauy ',
which nss utterly worthless. The fuller farts
where.
1t v also pretty ccTtalu that Mr.. 1fatnes nd
i,sssl. sancea Glonsy-amonnt not known-to sinal
"aa sas,ngs ~, naIk to keep It running. It was I'D
Taheeu Tor tue san,u reason tl,aG y slcnccr halp4t
NysEa--beeause tbs failuFu u ono irstitutior
would rc'Ht on all tho others.
T1tH "Fbsr AND NAlt,n
About tho last of his loans WIS one to thu
1'p.s dnd Aal c0slasatiot,. From document
on ae In tho Rccorlrr's Office It appears t!lut, t
son'aasraflon @ M. ~. 81 tna sum Ut $a50 tie Pos
1Etpn % % Trustee all tho A1tvrcs, furniture
ttoa, 10 Mnh!emeatsf and machinery In the lut.!
1ng oeenptel hy tho Iust aud -Na4 pr1ptiuv
G;SSnnpfsnyi Ess The franei.ises Of liz fo.i a..s
~ ~ s1Psay ns granted 10 that corporation b,
obliaS 81 aS T. +. ; ti;,s ssG ~ the .selu.iso ghs
aei, na,n, 1"s taHSse.t ~: WIZ. any variation d
hs. s.' Gsa r. ,as,q ;1sa Printing So@ps"y now s,
and also al! bcaciits. nosr,,4a,s,, sHniaas.
Or goodwill seeTu!ns .om Botthc patty of IN,
t!rsi part st!puIatcs that no channa shali ~ i,
Enatls IN thu newspapers na.ne without tha ran ~
scut Ut tas party " taa sceond part; and NJ n,
actlon will bo takcm W tho party OF tic ~ ~
part to interfere With tic complete transf.r -
all rights Of membership In tho Western 1..n
ciatett Press. THIS *+5,UN u rcprssen.c,s ~
foIty-dvu pron,tssory notes for e1,{G0 each. mn r.
abba two years fra.n date, n1aAa f,aYahlo 10 II II
tuf dnI lEtH ~ Ent tt>fr .,..In. sH