St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-04
FAREWELL, FAREWELL!
Gone, But Not FOrgOtten---F. l.
Mortimer's Slick Deal.

Gone, But Not FOfgOtten---F. L..
Mortimer's Slick Deal.
There is but little to add to what APP
peared in the GLOBE yesterday con-
corning the departure of +. l.. Morti-
mer for California, except that the
amount of money belonging to his
creditors is now estimated at $4,000 in
stead of $4,000. Some further partic-
ulars have been learned, however, con-
corning the complication OF affairs out
of which Mortimer crept SO Slyly. The
building was insured for $4,000, and
Mortimer was supposed to be solvent,
so II was presumed that the appraiSe
ment of the loss would be sum Suffi-
Gent to settle all claims. John S. An
derson, Eastman Bovey Il Co. and Nc
Donald II Delamater, three of
the largest creditors, became some
what uneasy, and served garnish-
mentS for the amounts of their
claims. Then the insurance companies
refuS> d to proceed with the adjustment
until it was decided to whom the money
should be paid. Mortimer proposed to
assign all the policies to L. j. Buxton
or Y. +. Hartley for the benefit of all
| concerned, so the garnishmentS would
be released. This was objected to, and
in S47, 500 of the $4,000 Insurance. This
arrangement left claims to the amount
| of $4,000, but these creditors were
| given the assurance that they would be
notified before any money was paid over
! to Mortimer, so they could have OppOr-
| tunity to secure themselves. They
agreed. and the loss was appraised at
S47, 10O, from which $1,000 was deducted
for salvage. This was effected several
weeks ago, and when it was learned
| that $4,000 had subsequently been paid
| to Mortimer without their knowledge
| the creditors were diSagreeably sur
| priSed.
w. A. Barnes & Co., who carried the
insurance on the building, make this
| statement as to how they came to pay
| over the $4,000 to Mortimer.
1.-The face of the policies were 100000.
! The companies did not consider that
they were bound to pay the full amount
| of the award, for the reason that some
| of the material in the building belonged
not to Mr.. Mortimer, but to the contrac-
| tors. This was estimated at Sc, 800. Mr..
| Mortimer finally made proposition to
us to settle OH the basis of S35, 600 with
out going into the question of how much
| burned material belonged to the con-
| tractors. This we accepted. But some
SiI,0uU OF lle pOllcl6S IldU Deen assigned
to n. +. Hawley for preferred creditors.
| This left s42, 800 free and the proportion
of the $4,000 that would fall to the
| share of the free policies we paid to Mr..
| Mortimer Dec. "a. 1t amounted to a
little over $4,000. Of course we didn't
| go about and make any noise about the
| payment for the benefit of the creditors
that wasn't our business. But when
any of them came and asked what had
| been done, we told them the money had
been paid. We were under no agree
ment to notify any one of the payment.
We know nothing of Mr.. Mortimer nor
! his reputation. The insurance COM
panies involved have had grave suspi-
ciOns as to the Origion of that fire-and
| they have them yet. But it has been
| impossible to prove anything, and they
have concluded to adjust the loss as
best they could. The $4,000 still due
on the policies in Mr.. Hawley's hands.
will be paid just as soon as it is legally
| decided who is entitled to it,"
The balance of the insurance money,
| $4,000, is covered by the assignment to
n. F. Hawley, and it is likely that the
other creditors will attempt to have this
opened. The real estate is so heavily
encountered that nothing is expected to
be realized from it, as the GLOBE stated
yesterday.