The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1877-04-11
81 KECK's TROUBLES.
Incidents and Details Of the Big Gin
einnati Failure.

Incidents and Details Of the Big Gin
einnati Failure.
Cincinnati Enquirer.l
As may be supposed, the financial embar-
rassment of "Si'' Keck was the theme Of
general feeling was one of sincere regret for
his misfortune, and of hope that he would
be able to pull through successfully and
come out fright side up with care" I'VE
can't afford to let such a man as Keck go
down." said one merchant. He is worth a
dozen ordinary men, and his nerve, pluck
and enterprise have done much to
give our city national prominence" Ii was
freely reported on the floor that Mr.. Cum
bingham and Briggs Swift have each tender
ed 500, 900 TO Mr.. Keck TO help MIN in his
difficulty, and many others expressed them
selves as willing to assist with lesser sums.
OF course there were those who looked wise
and shook their heads and said that they
feared that things were worse than was
thought, and that the banks wosld put the
screws to Keck and force him to the wall.
"You know these things are always
worse than they appear at first
sight," said another, land you can't tell
what will be the upshot of the
matter" ''The secret of the matter is this"
chimed in a third, "Oliver Perrin and old
Scarborough are dead against Keck on ac
count of his starting the Citizens Gas COM
pany, and they'll squeeze hell out of him
II they get half chance" So the CONVEX
sation ran, every one giving bis expression,
and all wondering what would be the result
of the meeting of the creditors. Mr.. Keck
came into the chamber early in its proceed
ings and was the recipient of so much out
spoken and heartfelt sympathy that he
became in a measure unnerved for
short time, his eyes sutfused with
h. .l,ls
tire for a while TO hide his emotion.
About half past o'clock in the afternoon
meeting of Keck's creditors was held in the
presidents room of the Merchants National
bank on Third street. Ben Eggleston, in be-
half of the Merchants National presided.
IL was secret meeting, and the representa-
tives of the Enquirer and Commercial, who
were present before the meeting Was called
to order, were assured by Mr.. Keck that If
the proceedings were Of character that
could be made public he would meet them
in the evening and give them all the partic-
ulars. Pursuant to the agreement our repre-
sentative met Mr.. Keck at
the st. Nicholas about s o'clock
last night. Isl" looked flushed and tired as
he entered the hotel, and well he might, for
he had terrible days work. After refresh
ing himself by bathing his face, he seated
himself in a chair in the smoking room,
heaved a sigh and said: "Weil, it's over;
and, thank God, no one goes to bed tonight
dollar poorer for 81 Keck." What was
the result of the meeting" said our repre-
sentative after pause, in which "Si'' seemed
TO be collecting his thoughts. "Well, was
the response, II made them a statement of
my assets and liabilities, though l had
mighty little trouble in telling them how
much was in debt, for they knew to dollar
how much owed each of them, and of course
il was easy TO verify that portion OF my
story. After my condition had been fully
explained by me and each and every item
of my statement made clear, they conferred
together, and the result of their cogitation
was proposition that L should take all o
my property and hold il in my own name.
and manage it in such way as would, in
my judgment, be for my best interests and
for theirs. This proposition l refused, not
that did not feel grateful for the conf
dence that they expressed in me, but be.
cause it was too big a load for me to carry.
| had given them statement OF every dollar
of my possessions, real and personal and il
Just about took every cent of Ii to
pay them dollar for dollar. II / accepted
their proposition 1 wouldn't have a dollar.
To take and hold this property and to real
ize out of it takes time, labor and capital,
which capital / have not got. The time and
my labor must be devoted to my family as
well as to their interests They then APP
pointed a committee of three, consisting Of
Briggs Cunningham of the Merchants Ma
tional bank; w. A. Goodwin, of the National
Bank of Commerce, and ]. N. Kinney, of K.
Kinney & Co., to act with me and to recon-
mend such a plan as would be for the best
interests OF all, and the committee is to meet
at my call"
"What are the exact figures of your assets
and liabilities?' was the next question pro-
pounded. Mr.. Keck drew from his bosom
the statement which he had presented, and
said: MY liabilities are $685., 900 and my
assets $3.50, 900; that is, giving my property
and securities at the valuation placed on
them by my creditors. In fact, their first
valuation was about sixty thousand dollars
more than that. though told them that they
were valuing them too high at that rate, and
they finally adopted my ideas upon the mat
ter. So you see can pay every dollar | owe
and have a thousand left" Here Mr.. Keck
smiled sadly as he contemplated the idea of
being reduced to the possession OF mere
paltry thousand dollars.
There is one thing on which pride my
self" said ST. land that is the fact that,
though / am in the hole, never used one
cent of the funds of the various companies
with which am connected, though l kept
their check books and was the only one who
had the right to draw their money. An
other thing, not a man loses cent by me by
indorsing No mans name was ever on my
paper"
End OF the Michigao University Chemil