, 1877-12-19
D. T. ALLEN.
More True lnwardness of His
cook.county-National
Kite,
a New Way to Borrow honey--0onmer-
oial Paper Floated" on rioti-
tious Securities.
Pour Hundred aud 7hirty.s.Eeu skarei Turn
Cp Degps in lie iianda of III
Rtte[gef.

A*SttL4*ls
sr<ia, Correspondence ot 7ne Tribune.
Dxs Motnxs,.Ia., dec. 1e.-Thc creditors OF
d. F. Allen arc, and have been for long tmr,
prepared for almost any disclosure In his affairs,
no matter how astounding. It has come to tc
thing Of great expectations. There was quite
a sensation In town, On Saturday, over the an
nouncement that tho United States Circuit
Court had Just decided that large number of
shares OF stock OF tho Cook. County National
Bank. Issued tu T. z. Brown, " ell known citizen
Of this city, were Of nu raluc,-l,arfng been
ISSUED, iu the mild expression Of thc Court,
without the authority, Knowledge, or consent
OF Mr., Dsown.H
THE HISTORY
OF this little financial transaction runs thus, as
gathered from the papers on file tn the o!1Ico Of
the Clerk nf the Court:
7. f. Brown was Interested In patent pave
ment for streets, and Represented tho ballard
Pavement Company. The Company had cp,,-
tract with the City Of Memphis for paving
streets, which finally got Into tho courts, aud.
of course. the Company failed to realize on
their contract as expected. They hal a 4uan-
titY Of commercial paper out, which must he
carried by somebody for time, and ncgotEa-
ti''Ha "ClE uth4C Will ~ F. itIlEEs III lof3+ IL
"itoat " this paper for Brown, to the extent Of
s5o00,-the consideration bcine $4,000. This
paper came Into Aliens hands whcn he was
bard pushed for cash anl was "kltluE" paper
extensively to keep hts Cook.County shtp
aloat. ard broker must bo found To work It
OIL 1fe turned up, aud his name is William z.
Watson, now Bank Examiner tu Chicago.
Nr. Allen, a. the President Of several pirate
banks In Iowa, could lcntimatcly lnlorse this
paper ~ an individual, and THUS gvc 1t credit.
" he reasoned, and, With this mental rescrva-
t[un,
tie IHDoRsEp THE PAPER
Ia Lis Cook-Cuunty National Hank: at least,
such is tle presumption. Ills broker found no
trouble In llsposinE Of it thus lndoreed; but, in
scattcs1nE It about Illinois anf Iowa. sotne OF it
fcli Into banks which were correspondents Of
the Cook.CountS National Bunk; aud the
ssIy Ssk sassia s ss t. as are % M IT, e SfS
II liz VIA In tue habit, as President of tho Cuok.
County National Bank, Of tudorstng individually
paper TOR anYboly. aud everybody tl,ut cau'e
slone and t" a;k lin to explain why th!. wss
that It vas hurting bis Cook County bank; aud
be changed his taettcs tittlr. lie had III hts
Possession bonds Of the Dcs- s-Muincs Gus Com
Rany,-ut what t4sua t: not shown II this case.
Thsnccforth, When tl[s roMtncrcinl paper was
to bo placed certain humber Of shares OF stock
Ut thu Gas Compshy were iseuctl to +. +.
brown. and passed over to b!r. Wnsson with
thg paper. 70 70 asea q eol!asefals: ~ oti,cr
Cook. County National Bank were issued tu Sir.
1'n'wn, 4nd--.he assignment thereon being In
blank,
sIoNEp T. z. nRowa--
weFc yer passed ossr to Watson, always by Mf. Al
signature was attestcd By Wattot, In lersblc
ull clerkly stytc, on the southwest curucr
thereof.
Of Brown was "iioa.ed y until lie Cook. County
Bank went IN, ~''
When 4. Il. Dutlcy, a, Receiver of the bnnk.
begun to close up ia aiIaits, he found
.isTe. vr 'h Ia H. sNu pame Of II ua'E Hro,sn W.
representing $4A 100. III November last he
tilctl petition II, the United states Circuit
Court here, 10 which hc clai,ns that Bruwn is
Cd to tic bank thereon 10 lc amount of fs3,7uo,
Air. brown, for answer, denied t!u alicrations
n Tho petition; and tho casa WIS heard before
Julxe Love. the certificates OF stock iu ours.
on the facc, issued TO i. E, Brown, an,l lis rs
]sIvumeut Ia left bunk on the back, but sirncf4
On tle face tho following ciause has a rcd ljne
drawn through it: INIT transferable 10 INV
ti,ai. debtor. Or otherwise, without consent Of
'Ar. nrow,., in lis Testimony, says he never
b1,fctaRci HuY atnu Af thu butk mar atit hnr1yud
apy ouv to purchase It In t,ia hams: that he
knew uothlnc OF the jss,lnnre Of such stocI:
Tint ttc signatures on the certtHcatcs
AuE NOR s,is:
and that they werp PLACED there without hfs
knowednc. authority. t,r consent. " -'-
Mr. Hurisy ntteuntrl tn nrnvn t],a rcnu,na
pcas Ut tho s!Inature by co,npsrIson 81 hand-
writin.. but nj failed to establisiI it.
As sir. Watson's name appcars IN The ceytla.
be wss caliesl On to cxnlniu. IIn s.,s lint hc Il
d broker in Chicago and n t,,ch .ni Hslinni.
Pavement Company or browns paner: thst A.
it wuts,'t uo. wien l,a urunosrI i" mn, FL m csi.
intcrujs. md supcrstc.i Dcs. .Yonsx r.. rn,n.
pany estWk and CotIk- County National Bunk
stock. The query ntose ~ to whether It was
wise TO use tho hank.stok for suc.l purposa tu
rnri1r,t ,rrk onl tl,r stnc NJ n,,t ~. T., "a,