Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1891-08-15
THOUSANDS pEERAupEp.

with an Immense Sum.
CHICAGO, Aug. 11.-A1fred Downing,
N. FL. Tollman and three young women
clerl<s-occupants of the Office of the
National Capital Savings Building &
Loan Association of North America"
room 35 Rookery building-were ar
rested Monday afternoon by United
States Marshals Hitchcock, Allen and
Charles, and the entire epis-
tolary contents 81 the place
taken to the office of United State Dis
trio Attorney Milchrist. Downing and
Tollman were taken before United
States Commissioner Hoyne, charged
with using the United States mails for
fraudulent purposes, and placed under
81, 900 bonds for hearing Thursday,
August 20 The three clerks
were notified that they were
wanted as witnesses at the hear
ing. 1t is charged that the
men who have been conducting this as
sociation have swindled thousands of
people from every state in the union
and taken in from 5000, 900 to $3.50, 900,
and given not one penny in return.
There are still two men at liberty, they
having disappeared several weeks ago.
| neSc TWO men, III Is DellcVeu, got away
with most of the funds.
For SIX months or more letters have
been received from all parts of the
country protesting that the National
Capital Savings Building & Loan Asso-
citation of North America" was not
what it's proprietors represented it to
be, and that it was collecting money
and making no loans. Inspector Stuart
took charge of the matter about four
months ago and has worked ever since
to make case against the officers of
the association. He found that the
concern was gigantic in it's reach and
had agents in every state in the
union who were disposing of the
$40, 900, 900 Oh stock the company was
selling.
At the time Capt. Stuart took hold of
the case the head man of the associa-
ton was Louis f. Mortimer, the gener-
al manager and Sc retary. He seemed
to be the responsible man and handled
all the cash. Several weeks ago Mort
inner and his father disappeared and
neither have since been heard from A
short time ago Capt. Stuart sent In
spector Gardner to Lincoln, Neb.,
where the harvest seemed to be the
richest. Here Mr.. Gardner found
George o. Ferguson, who represented
about sixty people that had been
swindled Mr.. Ferguson came to
Chicago with Inspector Gardner and
the result was the captures made Mon
day.
After the arrests were made Mr.. Fer
guson explained the modus operandi of
the gang that had been fleeing the
> citizens of his town. 'They were rep
resented in our town by Chase Bros, :"
said Mr.. Ferguson, ''who acted in good
faith. The people of Nebraska are
: very much in favor of the building and
loan association plan, and the offers of
this concern were snapped up quickly.
1t sold shares for fifty cents each, with a
: payment of S1l. 05 each month for nine
, ty-six months, at the end of which time a
81, 900 loan would be paid for. Then
: there was membership fee of $50, an
appraisement fee of $50 and $40 for
three months payment in advance,
thus making sos. The concern made
one $500 loan that was genuine, and
}, this was just enough bait to lead 9TH
Il ers to invest. Hundreds sent their
money to Chicago and on the strength
of the loan they expected to make
contracts for homes and stores were
u let and building begun, but the money
never came"
= Inspector Stuart and District Attor-
ney Milchrist went over the associa-
- tion's books and found seventeen loans
had been made in as many different
states. A rough estimate of the amount
~ | - tha ,s
y Sits 900 in the year and half the asso
!, citation has been in existence
II The books of the association
- show that its agents in all the state.
. but the most active were in Omaha
:. Denver, Des Moines, Portland, Calves
- ton, Olympia, San Francisco and Min
neapolis. Up to within several months
ago the association did big business
n, in Philadelphia, where, however, the
authorities got after the managel
A. and drove him away. Presiden
II Downing and Vice President Tall
n man admitted after their arrest tina
st enormous sums had been taken in, bu
r. they said that they had not ever beei
p. lin it, We took in somathing owe
,e $50, 900 that know Of" said Presiden
,s Downing, ''but never got more thar
,r poor salary out of it. and Tallmal
O0 didn't get as much as did"
ut ''They got badly bitten both o
III them" said Inspector Stuart, "but the
We were in the deal and knew all abou
st what was going on, though they didn'
,g get much. Mortimer got the bulk O
" the money, and L haven't the leas
k. doubt he got away with Sl500O0. Mort
as inner is clever tallier and smoot
ne MAJ generally and would convince al
he most anyone that talked five minute
s. with him tl4at he was the squarest bus
On ness man on earth.
U.s. One of the peculiar features of tn
n case is the Endorsement of the schem
he by the Bradstreet and Dun agencie:
st The officers of both agencies examine
,s- the association and its affairs, but tn
,r, evidences of prosperity were so grea