Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1880-02-10
soLDIERs' MONUMENT.
The Disposition Of the Fund
An Ugly Rumor Dlsproved.

An Ugly Rumor Dlsproved.
The announcement by the daily pfso.,
OF the sale OF certain Belmont mill
bonds OF the estate Of the late Thomas
Hornbrook, gave rise 10 number OF
street rumors OF an unpleasant charac.
Ter rejecting very seriously on the dis
nosition of the soldiers monument
iund. IL was known that the Belmont
bonds, In which the fund was invested,
had been divided among the trustees
and as very few persons were acquaint'
ed with the circumstances under whieh
the division was made, the rumor was
afloat that the trustees had, IN some
way, realized bonanza. The apprecia'
ton Of value OF the Belmont bonds IN
doubtedly had much TO do with the rap
idly formed opinions. However, there
were various rumors about the streets,
Yesterday, the substance OF which was
that something WAS rotten IN the mon
ument fund"
Such an announcement was sufficient
to cause any well-regulated reporter TO
prick his ears and follow up the scent,
and at eight o'clock last evening the
REGISTER scout was sitting in the Office
of Samuel Laughlin, Esq, while that
gentleman repeated the entire story oil
the Soldiers Monument Fund. The
earlier transactions have already been
published in the columns OF the Rsdis-
TER, and long story, made short, Is as
follows: Shortly after the close OF the
late unpleasantness Sanitary Fair was
given IN this city, in buildings which
stood on the present site OF the Capitol
The proceeds were to he used for the
benefit of sick and wounded soldiers in
this neighborhood. and were so applied
so long as II was deemed necessary. The
remainder, some $500, was placed IN
the hands OF six trustees: Messrs. Geo.
h. Wheat. Samuel Laughlln, Thomas
Hornbrook, William Tallant, Thomas
II. Logan and John Bishop.
The $500 were placed in bank and
by judicious management increased, by
1873, to $4,000, which was invested in
the first issue OF Belmont mill bonds.
In 1878, the trustees contracted with
the New England Granite Company
for monument IN cost 5000, To he
paid Tor by these bonds, rs they under
stood 1t
"But," said Mr., Laughliu, when the
work was hall completed and after wo
had contracted for the base and the
erection of the monument, along comes
one oi the Hartford firm aud declines
to take the bonds. He looked to us
for payment. Said he: Gentlemen,
took the contract from you, not from
the Soldiers Aid Society, and | hold
you responsible.
"Thcrc we were. We had contracted
for the monument and had to pay for
it. We tried to sell the bonds,
hut could not. We offered them ut
75 per cent; We put them in the
hands of AuCtionccr Hervcy, but no
could do nothing with them. We could
neither realize nor sell. We took legal
advice on the matter and were told:
"lou are IN Tor il; you made the con-
tract aud you'll have To pay
"What did you do2'
dot We did everything. The work
on the monument had stopped, and We
even offered 5000 To- get out OF the CON
tract. but they refused and wanted
Sl,00h Finally, as we could neither
sell ar realize on tho bonds, We had to
pay Tor the monument out OF our own
pockets. Last May We gave our indi.
vidual paper and took the bonds aud
divided them
"Who got thcmF
"Dr. Logan, Mr.. Wheat, Mr.. Horn
brook and myself
"That is how Mr. Hornbrook came in
possession ol Belmont bonds"
"Irs, that Is the way"
at turned out very well for you
"Wcll, yes, us il happened, il did.
But il might have been ust the reverse
When We received the bonds they
would not sell for seventy cents, and II
was Il mere turn OF the wheel whether
we would ever realize u cent on them"
"lt was the appreciation OF the bonds
that led some people 10 think you had
made u bonanza Of it,"
eyes. but they were not acquainted
with the circumstances. One year ago,
who could have fore,oh the present
condition Of the iron market Ask
some OF those persons ii they would
have taken the bonds one year ago and
paid for the monument2'
And how is the monument
"All right. IL will be put up in May
next. have some Of the plans here"
and after few moments spent in silent
admiration Of the really handsome dc
signs, the reporter babe Mr.. l.aughlin
good night