St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-15
A REGISTER RACKET.
Prominent Shareholders in a
Splurge Company Declare
Enough.
Transactions That Seem Pc
culiar, But May BE Ex-
plainable.
Directors Of Another State
Institution Make a Play
for SolonS.
AlG. Conley Gives the Cold
Water Cause a Generous
Lift.

The Northwestern Autographs Reg
lister company, which WAS organized
with capital stock amounting to $780,
900 last September, has evidently come
to grief. 1t is difficult to determine
whether the downfall of the company is
wholly due to an unappreciative public
or to lack of confidence among the
stockholders. 1t is quite apparent that
the concern has been unable to do the
immensely profitable business that was
anticipated for it, and now the stock
holders are squirming and twisting in
an attempt to get their money out Of
the company. About six months ago
Mr.. Louis Ii. MaXfield, of the late firm
of MaXfeld & Seabury, conceived an
idea that the good people Of the North
west were waiting for autographs
registers just as bIeathlessly as the peo-
pie of Asia were waiting for Col.
Sellers eye water some years ago.
He haden't the slightest doubt about
the millions that were in it for the first
man or combination of men who would
spring the photographic machine before
the Northwestern people. At the time
there was a corporation III Chicago
graphic Register company, which pos
sessed the rights to handle the patent
machines III Minnesota. North Dakota,
South Dakota, Wyoming and part of
Wisconsin. Mr.. Maxfield bought the
franchise, together with the rights of
this company for $4,000, and after
wards disposed of S300,0O0 of the con-
Germs stock to st. Paul business men at
25 cents On tine dollar. Owing to his I'M
impeachable business and social record
in this city, MaXtield found no difficulty
in forming a very strong company.
Among those who became stockholders
are Chief Justice Gilfillan, Alexander
Ramsey, Bishop Gilbert. w. 3. Dean,
John b. Sanborn. H. A. Castle, E. F..
Drake, L. Driscoll Sr., Lane X. Stone,
John S. Prince, Maurice Auerbach,
William Lindeke, d. r.. Noyes, A. b.
Stickney, Joseph Jockey, d. A. Mon-
fort, Albert Scheffer, Ii. +. Stevens,
Marcus johnson, r. Nj. Newport, w. E.
Steele and n. 2. Langford. The COM
pany was organized with Mr.. MaXficld
as president and general manager. and
an office was opened at $50 Jackson
street, where number of autographs
registers were placed on exhibition.
Before the business was fairly started
Mr.. MaXfield became almost total
physical and mental wreck, and the act
i've affairs OF the company were neceS-
Sarily almost abandoned. Some OF the
shareholders paid for their stock 10y
giving MIR. MaXfield their notes, upon
condition that the Instruments were not
to be negotiated. Now it appears that
Mr. MaXfield delivered these notes,
amounting to $4,000, over to the Sean
dinayian bank as collateral to secure
loan Of s.. 100. Subsequently Claiming
Seabury paid Mr.. Maxfeld'S So, 100 note.
and received from the bank the collat-
eral notes, which he turned over to
Mr.. MaXfields representatives. 1t is
said that after all this had been done to
A. CathcarE, placed, the stockholders
notes on the market for the second
time. This action upon the part of Mr..
Cathcart was not particularly reliSlied
by the stockholders. No blame is at
tached directly to Mr.. MaXtield, his er
ratio methods being explained by the
impaired condition OF his mind. He is
at present under treatment at SANTA
rum in Battle Creek. Mich. Nj. Cath
cart explains that ne considered the
notes given to Mr.. Maxfleld by the
stockholders portion Of the latter'S es-
tate, and he therefore disposed of them.
1t is said the stock company has about
$1,000 i'll cash on deposit now-but the
business is at a standstill. Some of the
stockholders are of the opinion that the
business can be carried on proftably if
it is placed in proper hands, But ma
jority of the company favor closing up
shop, and it is quite likely that suits
will be instituted to secure a settlement
of the affairs of the concern.
Claiming Seabury states that he took
up Mr.. MaXfeld's $500 note at the
Scandinavian bank at his request. tle
turned the collateral notes over to Max
fields family because he considered
them a portion of the latter'S assets.
Mr. MaxfieId, he said, had been in very
poor health for over two years, and was
incapacitated for business.
John ID. O'Brien, the attorney for the
stockholders. is reticent about the mat
ter. He says the point in question is
whether the stockholders were induced
to invest their money by false repre-
sentatlonS.
Joseph Jockey, who was chosen
treasurer of the company, thinks the
bushes ought to be wound up, as it is
very Improbable. He states that he
never accepted the treasnrership of the
company, and does not consider himself
the incumbent of that office.