Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-02-04

Some Peculiar Rumors About the Early
History of This Affair.
1t will be remembered that on Dec. s last at
Miles City general assignment of the firm
propertp of A. R. Nininger & Co. was made
by Mr.. Savage, of that firm, to Alexander
Harding, and some of the st. Paul, Mtnneapo-
lis and Omaha creditors replevied part of the
goods so assigned and Others attached. 1t
seems that at that time there were $4,000 re.
plevied and sos, 900 attached. This left about
$50, 900 worth of goods, 100000 of accounts,
and &c, 900 CT real estate in the hands OF the
assignee. It will be remembered, too, that
Immediately preceding the assignment the
other partner, A. R. Nlninger, transferred to
his mother and sisters substantially all his
real estate in Minnesota and Alabama. The
assignee, Mr.. Harding, formerly resided at
St. Paul, and will be remembered as clerk OF
the Metropolitan under the auspices OF Col
butcher and Col. George. Before that he was
cashier of Chicago bank; he has always sus.
tanned the reputation of being thoroughly
reliable and upright man. At the time of this
assignment and for some time prior thereto,
Harding had been head clerk and cashier Of
the firm of A. R. Nininger It Co., at Miles
CITY, and seems to have had subs tantially sole
charge of the banking department of their
business. In that capacity he must have
known the actual condition of the firm during
the time he was there. These facts have rem.
dered him exceedingly unpopular with that
portion of the firms creditors known as the
depositors They say he ought not TO have
placed their funds with the firm when
he knew 1t was in very precarious
condition, and this is especially true of their
large depositors, who became snch shortly
before the assignment. If the affairs Of Min
ringer & Co. were in bad shape during the
summer and fall of last year, it is obvious to
any one that Mr.. Harding's position must
have been exceedingly delicate and distasteful
to him, and he doubtless was compelled 10
and did do many things that towards the end it
would be difficult to justify, and which never
theless he was practically compelled TO
do. Aside from this, so far
can be sand against him. 1t seems that after
the attachment and repleviu before mentioned
took place, litigation in Montana ceased, and
Mr.. Harding was allowed to proceed under the
assignment without obstruction.
It will be remembered, too, that the princi-
pal part of the St. Paul creditors attached the
funds OF the firm at St. Paul, Chicago and
New York, and also the real estates which
Mr.. Ninninger had disposed of as
ceedings were instituted against him at
st. Paul under the new law that
took effect last July, the object being to secure
pro rata distribution of such property so
far as it was located in Minnesota. This has
been vigorously opposed by the attaching cred
itors and the matter Is now under Amusement
by Judge Brill.
During January Mr.. Lane K. Stone, of Mon.
tevideo, conceived the idea OF purchasing the
liabilities of Nininger St CO., and there
upon taking the assigned estate
n ness at f'' Miles City. While these ne
gotiations were in progress, and about the
middle of January, MIR. Savage, the other
member of the firm, came down to ST. Paul,
under the conviction that the firms assign.
ment was a gross mistake; that the affairs OF
the firm were not in such shape as TO war
rant assign ment at all; that he made 1t un-
der misapprehension of the true state of af-
fairs, and that this scheme of MIR. Stones was
really in the interest of Mr.. Min
niger, and formed part of deep
laid plot to freeze him out, and
at the same time secure n favorable com
prunIse with the creditors. Mr.. Savage re-
manned in st. Panl only day or two and then
returned to Miles City, since when everything
remained quiet along the Potomac till last
Thursday, when it seems Mr. Savage, under
the advice Of his friends in Miles City, exc
cuted document in terms revOking , he as
signment which he had made, and resumed
forcible possession of the property then IN
the hands of the assignee, made to the sur
prise and amazement of all concerned. The
dispatches from Miles City seem to indicate
elected by Mr.. Savage, placed all the trust
funds then in his possession, being about
$4,000, in the form of eastern draft and tele.
graphed to st. Paul for instructions.
These proceedings on the part of Mr.. Saw.
age were at first regarded as a huge joke, but
in view of the fact tina t Mr.. Savagei is among
his friends and enjoys in Montana, and IN fact
everywhere, the reputation Of a perfectly up
right and square man, and also In view OF the
fact that there Is no Judge in
Miles City or nearer than Helena. which
Is about 400 miles distant by stage, this man.
euver cannot be very we'll regarded as joke.
but brilliant coup d. etat. It is perfectly OBJ
vious whether Mr.. sayags's position can be
sustained in the law or not the firm OF A. Il.
Ninninger & Co. has resumed business with
one wheel and is bound to continue its course
as usual until regular chancery law snit Ia
begun and formal orders obtained from one OF
the judges at Helena, proceeding necessa lily
consuming several weeks.
Furthermore, if Mr. Savage's version OF. the
matter is correct, his conduct certainly is not
altogether absurd. At any rate 1t is morally
certain that no Judge wonld feel warranted in
epjoining Mr.. Savage, or putting receiver in
charge of the property notwithstanding ample
bonds, which it is understood it would be
very difficult to raise in Miles City,
owing to the fact that the responsible
parties engaged in business there are
non residents. The st. Paul lawyers seem to be
of the opinion that the logical and probable re-
suit of this new turn in the affairs of MINI.
ger & Co. will be suit between Ninninger,
Savage and the assignee, for dissolution of
the firm, the appointment of receiver, and
the winding up of the business Of that con-
Germ in the ordinary way, In which event the
mercantile and the bank creditors would be
placed on the same footing.
1t is understood that Mr.. Stone has not
abandoned his project but that he left st Paul
last night with his attorney, Mr.. E. G. Rogers,
for Miles City with the view OF ascertaining
for himself precisely what the assets of Min.
niger & Co. amount to and realize what the
situation now Is. The St. Paul attaching and
replevin creditors seem to be Guperbly serene,
but what effect theae proceedings will have
upon the other creditors remains to be seem