Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1890-02-20
THE AMERICAN B. ( L. A.
A CONSPIRACY TO Wreck 1T DIS.
COVERED IN MINNEAPOLIS.

voive all National Building and Loan
Associations In Order to Cause Share.
holders to Sacrifice their Property
The Conspirators to BE- Prosecuted.
Minneapolis Times. Feb. 0. 1901
The reason for the hitherto unex
planned attack OF the Minneapolis
Tribune on the American Building
and Loan Association Of this city,
which up to the present time has re,
manned unknown, has been ut length
revealed. With the knowledge OF
this comes information Of one of the
most constituencies conspiracies ever
devised to wreck prosperous finan.
cial institution and rob thousands OF
defensel-ss people in all parts of the
country, some of whom had invested
their little all in concern that prom
ised large returns aud the best Of
security, aud will yet give both if the
wreckers can be foiled.
The Times is in possession of evi.
dence which proves beyond reason.
able doubt that certain men Of prom
inence and influence in this city and
ST. Paul went deliberately to work to
wreck what promised to be in few
years one of the most foremost finan-
cial institutions of the United States.
The Minneapolis Tribune acting
the roe of friend to the shareholders
Of the concern was to be the enter.
ing wedge which should throw the
walls Of the great structure from
their perpendicular, giving men Of
still greater influence than the pub
Usher OF that paper, an opportunity
to apply the pressure that would
topple it over.
The Governor Of Minnesota is one
o! the men believed to be engaged
in this "highly commeudable" enter.
prise, and it is further believed that
it is through his Influence that Public
Examiner Kenyon has been prevailed
upon to make the report which he
promulgated after the recent investi
CATION of tie aft. of the associa
ton.
AT this time it is not proper 70 re.
veal all Of the plot, but enough can
be said to show its magnitude and
character aud to expose the real ami
mus of the phi!anthropio publisher of
the Minneapolis Tribune. The Times,
however, is in possession of the full
evidence concerning the proposed
transactions, and will give the facts
to the public as soon as the first steps
are taken in certain prosecutions
about to be begun.
The parties interested had in their
control the machinery, which was to
have accomplished the ruin of the
American. The affairs of the asso.
citation were to be declared in unsound
condition, an application for the ap.
pointment of receiver made to the
Supreme Court, and trumped up evil
dence, technical points and all the
trickery OF the law brought to bear
against the defendant in the trial.
The appointment Of receiver once
decided upon, the advice of the Gov.
ernor of the State and the Public
Examiner would have great influence
in determining who should be given
the position, and man who either
''s,ood in" or could be handled as
tool OF others was to be made re,
ceiver. All this would inevitably
frighten the shareholders into a will.
ingness to dispose of their stock at
nominal value, perhaps Is or 20 cents
on the dollar. Secret agents we're to
buy up as many Of these shares as
could be obtained at such decidedly
reas enable rates.
This done, the work remaining for
the wreckers would be easy indeed.
A docile or designing receiver could
continue the business of the associa-
ton until dividends we're declared
aud the shares raised to par value or
near it. As about $3O,OOO,COO in
shares have already been sold in diff.
ferent parts of the country, the profit
to those who engaged in the scheme
would be necessarily enormous.
As to the motives which impelled
men Of prominence and influence to
engage in so disreputable an under
taking, prospective gains especially
in SO large amounts are ever q power
full incentive.
Aside from this the bankers asso.
Citations all over the country, as we'll
as every insurance company issuing
endowment policies, is willing to 90
to almost any length to down the
national building and loan as.ocia.