Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1890-02-13

wifhstand'ng the Opposition Of
Rivals.
For months past reports affecting
the standing of the American Build
ing and Loan Association Of Mime
apolis, Mimi, have been widely cir.
culatrd. As branch boards Of the
Association exis, in Boise, Caldwell,
Shoshone, Bellevue, ke,chum, haley,
Pocatello and other towns in Idaho,
these reports caused widespread
alarm.
The TINES has from time to time
done what it could to allay these
tears, by repeated inquiries into the
standing, solvency and business
methods of the American, which uni
forml y resulted in favor OF the Asso
citation. 1t also pointed out the fact
that it was impossible for the share.
holders to lose any considerable sum
through the incomp-tency or dishon.
esty of the Office of the Association.
because not much more than one
months receipts could be on hand at
any time, the money being practically
loaned on first class security before
it was paid in to the Association; and
the officials being under heavy bonds,
besides having their accounts fire.
quently examined by the State Ex-
aminer OF Minnesota.
But Notwithstanding all this, the
reports continue to be published, aud
are getting more and more alarming.
The latest is the following, which we
found in the Boise Statesman received
yesterday:
The affairs of the American Build
ing aud Loan Association Of Mime.
apo'is, MINI, in which many Boise,
Caldwell and Nampa people were in
te.rsted, were brought to a close on
the 9Th inst, by the State Public Ex
aminer. The Examiner discovered
that the Association hal received
$14,2lS2S from stockholders, for
which it had failed to account, and
this in the face of the fact that over
100000 additional had been collect
ed AS admission fees. The Attorney
General Of Minnesota has applied to
the Supreme Court for writ OF quo
warranto. The concern will then be
placed in the hands Of a receiver.
The Statesman long ago warned the
people against the rottenness Of this
foreign scheme, but the warnings
went unheeded, and now we can only
offer our most sincere sympathy to
those who have lost their money.
Immediately on seeing this a tele.
graph dispatch was sent which was
rs follows:
70 James H. Bishop. President Of the American
Building and Loan Association, MINI. apolis,
MINI.
Is the Associations failure CON-
plete or only partial? II the latter,
when will it resume business? What
is the total loss, and what will be the
oss per share? Telegraph complete
answer to all these questions at nv
expense. T. E PIcoTTE,
Secretary of the Local Board.
HALEY, Idaho, Feb IL, 1890
The following reply was received
his morning:
NINNEAPoLIs, MINI Feb. Is. :
You have been grossly msin,
formed. We have not failed. The
American Building and Loan Asso
citation is and always has been per.
'ectly solvent. We have large sur.
plus on hand and are doing a fine
and extensive business. The Grim
nal conspiracy against US cannot
succeed. We will mail you to-day a
full account Of the movement against
Is concocted by rival concerns.
THE AMERICAN BUILDING AND
LOAN ASSOCIATION.
1t is therefore Just as might have
been expected. The statement of
he Statesman is false, slanderous,
md damaging in the highest degree
% the Association as whole and to
zach and every shareholder therein.