Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1890-09-12

stated to be owing to parties residing at
their former place of business, Pella, la.
None OF these last named items were ever
given to the bank as among their stated
liabilities, but on the other hand the senior
member represented that he, individually,
was possessed of valuable business and
residence property at that place which, if
he could sell at a fair valuation, would en-
able him to
PUT THE FIRM ON AGOOD FOOTING.
The said Van Houten also stated to one of
the officers of the bank that should any
trouble be apprehended he would notify
the bank, as their largest creditor, and con-
fer with him as to the best course to be
pursued. Instead of this, however, when
the crash came, for which he had evidently
been planning for months, he had the as
signment papers prepared secretly and
quietly, 81 that the banks first intimatiOn
of the situation was the public announce
ment Of its closed doors. And as if to add
insult to injury the assets of the firm were
placed in the hands of q person known to
be hostile to some Of the officers of the
bank, although perhaps his chief fault in
the subsequent management of its affairs
was over confidence in the Elan who had
imposed this great trust upon him and WHO
| was allowed for several months to manage
the business, so far as the creditors could
discern, much in the same way as before
the assignment.
AS AN INSTANCE OF UNMITIGATED GALL
we give the following proposition made by
him to his creditors and their representa-.
tives, whom he asked to meet him for that
purpose, viz: That on condition of the en-
tire assets (save those pledged to the
bank), including the money in the hands
of the assignee, being turned over to him,
personally, he would pay 5 per cent. upon
the Indebtedness OF the firm and give his
unsecured notes for 20 per cent. additional.
payable five years hence. AS the money
in the hands of the assignee would more
than pay the 5 per cent. offered, and but
little faith was entertained for either his
| would be necessary to insure the future
payment, this proposition was deemed by
the creditors a better speculation for the
said Van HOuten than for themselves and
was politely declined. That this same
| Van HOuten is
A MAN OF NERVE
is shown by the name in which he car
ried himself after a failure which would
have crushed most men Many of the
TRIBUNE's readers will remember his ap-
pearance upon the stage just before his de-
parture for Lis new field of labor, n the
light-hearted and gay manner in which he
took the part of the "affectionate boy" in
the minor drama of the "Deestrict Skule"
although, if the statement Of his brother
is true, his affection did not always go out
toward members Of his own family. This
brother stated that when members of the
firm here Eilko drew nearly $1,000 more
from the firm than he did; that items due
him from the firm were not credited to his
account upon the books, II that he,
William, was about to leave for his old
home with barely the clothes on his back
and the furniture from his house.
1t IS believed Mr.. Van Houte ms actions
are in%defensible. He will have an oppor-
tunity to explain in the courts.
NO MONEY AT THE FIRST NATIONAL.
1t having been rumored that Mr.. Van
Houten, who formerly transacted his en-
tire banking with the Capital National
bank IN order to dodge creditors, placed a
large sum of money in the First National
before leaving the city. A reporter called
on Assistant Cashier Heron regarding
this matter. Mr.. Heron said: Mr.. Van
Houten hasn't got any money IN this bank
If he had we would not be at liberty to
tell anybody of the fact, as we hold the
confidence of our customers sacred. Mrs.
Van Houten, however, had some money
here, as most business people know from
her private checks being around town."
THEY ARRIVE.
Sheriff Donnelly accompanied by Mr..
Van Houten arrived on the 2 a. m. train
get a statement from Mr.. Van Houten.