The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-03-17
And Makes Its Way to that Mysterious
Bourne, Whence No Trust Com
pany Returns.
The Remarkable Discoveries Made
by the Receiver,
Five Thousand Certificate-HoIders Who
Have Blown In Their Money-The I'm
mense Profits of the Company.


the Marion Trust Company has ceased to exist,
and at least one of it's alleged Officers has
'folded his tent like the Arab and as silently
stole away" Other things more substantial
have disappeared at the same time and several
hundred, possibly thousands Of swindled and
defrauded certificate-holders, who refused to
hearken to the Journals timely warning, ARE left
to gnash their teeth in outer darkness, so to
speak, and to whistle for the hard-earned dollars
paid in as assessments and dues. The number
of victims scooped in by the concern is almost
incredible, it being estimated that there are
fully 5000 of them, and IL may O., be
remarked in this connection that the Marion
Trust is but one of a score or more similar con-
Germs, equally worthless, and which will even
tualy follow 1t to the mysterious bourne whence
no trust company returns. Since the organiza-
ton of the swindle, little over year ago, 1t
has had its agents all over the country. Not
only have the guileless Hoosiers been deluded
into contributing its Golfers. but Illinois, Ohio,
Kentucky, Tennessee, Mississippi, Missouri and
even distant Alabama have been diligently
secured for victims, and the harvest has been a
rich one. Notwithstanding the frequent ex-
posures made by the Journal and other papers
having sufficient courage to attack any
concern openly, gudgeons have not been lack
ing, and up to the very hour OF the company's
demise victims have found their gills en-
tangled in its net .
THE plan" OF THE CONCERN.
The promises to pay made by the agents and
officers of the company we're as profuse dead
leaves in October, and were given unsparingly.
The circulars, while they were so cautiously
worded as not to give absolute guarantee of
the payment of any sum, however insignificant,
were intended to convey the impression that
each certificate purchaser would on compliance
with certain conditions, receive 81 200 for $178
at the expiration of year, and the smooth
tOngued agents sought rather to strengthen the
impression made by the circular than to point
out its inconsistencies by reading between the
lines. Matters went along smoothly enough for
months, and money rolled into the capaciOus
pockets OF Mr.. Alexander Collier in an unbroken
stream until the Journal learning of the immense
fraud being practiced, made an exposure of the
company's inlquities in the interest of It's
readers and the general public. This had the
effect OF materially interfering with Collier u
Co.'s revenues. reducing them more than one
half; indeed, if the admissions of that gentleman
may be accepted as true, and so aroused his viz
tuOus Indignation that lie held n meeting with
himself and hurled anathemas at this paper, con-
signing it TO place where corn sells for So q
bushel, and brought suit against the propretors
for $4,000, for alleged damages to his business.
1t is needless to say that the suit has never been
pressed. and in the light of recent events, it is
highly improbable that it ever will be-
RECEIVER ASSUMES CHARGE.
AS duly chronioled by the Journal, Mr..
Charles Shaw recently brought suit policy
for 81 1900, and asked the appointment OF a re-
Geiver. The petitioners prayer was granted by
Judge Walker, and Martin V. Adkins nominated
as slrch. Accompanied by ex-Judge James E.
Heller, Mr.. Adkins repaired to the company's
office to assume charge OF its assets They found
Mrs. Collier wife of the company, in charge OF
office. greeted
here, you dirty dogs; you've got no business
here, so you haven't" Judge Heller quietly re-
marked that they had walked up stairs, were
somewhat tired, and had concluded to stay
awhile. When the keys were demanded, Mrs.
Collier refused to come to time and denonnced
the whole proceeding as an outrage. She finally
left the office in huff" and immediately de-
parted to join her husband in Chicago.
REMARKABLE SHOWING.
An examination of the hooks reveals most as
founding state of affairs. The concern has been
in existence about a year, and in that time
nearly 100000 has been taken in and less than
$50, 900 paid out, making a clear profit for a
years business of about $150000. On one day
the receipts were 81, 700, and the daily deposits
as shown by the bank book, averaged $780,
The first payment was made on certificates last
November, amounting TO $9.42s.ls, and in De-
cember certificate holders received $lO,57o
nothing has been paid on the dividends for
January, February March. Golfers bank
account has been kept at different banks,
his last money having been de-
posted at the Merchants, National. His account
was closed there March l, by the cashing of
check for little over ST 200, drawn in favor Of
his wife
The streets were fairly swarming. yesterday,
with certificate -bOlders of whom there are in
the neighbOrhood of 5000, and abou: 300
have left their cases with Judge Heller, who
brought matters to focus by securing the ap-
pointment of a receiver. Many of the patrons
are euileless grangers, who badly torn up
up over their losses. The average amount re-
ceived from them is about $40, many having
paid one or two assessments and then dropped
OUT, while others paid in full. The daily
receipts at the Office now average about 500
which is being duly cared for by the receiver
Fully one-half of the mall however, is directed
to Collier personally, and with this the law docs
not allow any interference. Is is delivered to
his residence, where it is received by the son,
who still remains III the city: A careful com
parson of the records for different periods shows
that immediately after the exposition in the
Journal the receipts were diminished about one
half and have been gradually failing off even
since.
THE MoDUs oPERAYDI
The mOdus operand of the lamented Collier is
shown by examination of the check-hook.
Checks are noted there drawn in favor of Golfer
and his wife, Mary ID. Collier; her sister,
Nancy Collins their sons. William II. Collier
and James L. Collier, and the two clerks, Fannie
and Lille D. McGnuis. which purport to be in
payment of various certificates. As far as the
Misses McGinnis are concerned, it is hSt Just to
say that there was no Intention on their part to
defraud. it being Mr.. Golfers custom to ask
them in the capacity OF clerks to go TO the bank
and draw some money for him. He would then
fill out the check SO that it would appear that
they were certiicatehOlders. Many, If not all,
OF the numbers USED were the numbers of GER
tiiicates upon which assessments had been aud
were being paid at the time by other parties.
YOUNG COLLIER WON'T TALK.
A Journal reporter called at the Collier family
residence, on North Alabama street, about 8
o'clock last night, and after rapping at the door
for some time, feminine head was obtrnded
through a window and a silvery voice inquired:
ais that you, Liz"
The information was extended that it was not
Lii, but that the caller reporter who very
much desired an audience (at long range) with
Citizen Collier. At this masculine voice from