The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-04-17


of Winner, Of Kansas City.
81. PArI- April 16-The report Of the bank
examiner on the Affairs of the American Build
ing and Loan Association shows that the for
feited stock has been sold by . majority of the
directors TO their friends o- trusted employees at
q nominal figure; that the purchasers in some
instances had the numerical amount of the Ger
tihcatcs reduced in number of shares, so that
no further payments would be necessary, and
then borrowed from the association on the
stock 50 reduced three -fourths of the loan fund,
enabling them thereby to get more money from
the association than is required TO purchase the
stock The sstorney general has been in
sfructec, if there are sufficient grounds. 70 COM
mence suit against the company.
KANSAS CITY, April l6-The Winner Invest
ment Company, through its president, Willard
4. Winner, made an assignment late this after
noon No schedule of liabilities and assets
was filed. The company was capitalized for
100000 originally, but about year ago il was
increased by . new issue OF 10000 of stock.
The company had been dealing in bonds and
mortgages and other securities, with branches
IN New York and Boston, where the great bulk
of the securities were disposed OF. The COM
pany two ycan ago purchased a large tract of
land in the eastern portion OF this city, subdi-
vided it and built eighty houses upon il.
Thea property was mortgaged to buy the
land and construct the houses. and the
1Ho1tEase8 were QlSpoSc0 OF IN the E&kl- some
OF the houses were sold on long time payments,
while Others are still on the market Mr. Win
ner. when seen by representative of the Asso-
ciated Press this evening, said the assignment
was not failure at all The company had sim
ply decided to go out of business The Boston
ONCE, he said, had been run at a .oss for
some time and the New York Office had
not been paving The company sur
rendered its charter In each state some
ten days ago. Beyond this Winner declined
to say anything. Willard +. Winner was a
meteor in the financial sky of the West. Ten
yeara ago he was actually engaged in canceiing
stamps in the postofice here. Today, besides he
ing the head Of the Winner Company, he is the
head Of the Winner Bridge Company, with q
capital of 8, 10000; president of the Winner
Building Company, with capital of 81 l,0oo.0oo;
president of the Winner Depot Company. with .
capital OF 3, 900 GOO; president of the Chicago,
Kansas City d Texas road. which has built
twenty miles of road from Kansas City
in the direction OF Chicago, and president of the
Belt Line Railroad Company in this city, both
the latter being heavily capitalized The bonds
OF these companies have been placed by the
Winner Investment Company, which assigned
today. Winner says the assignment will not
AFFECT any of the companies outside of the Win
ner Investment Company.
BALTIMORE, April l6.-oscar w. Wolff has
been appointed receiver for the lumber firm of
1nomaS Martnews q son. ana gave a BOND OF
$10o, 600. This action was taken on bill of COM
plaint filed by T. Morris Brown, administrator Of
Thomas NJ. Brown, deceased, former member,
against James and Henry c. Matthews. to se-
cure an accounting and an injunction restrain
ing the surviving partners from interfering
with the business of the irm.
CHIcASo, April l6--The Pacific Rolling Mil,
. sorpcration In San Francisco, has secured
leave from audge Tuiey 10 file petition in the
Pacific railway lifiration. 1t gfates that the
Pacific Railway Company is indebted to the
petitioners upon bin Of exchange
for $4,000, accepted May 70. 1880,
and another, accepted September IS, 1870,
for $D,46a As collateral security for these
loans the Pacific Railway Company hypothe-
Gated eighty-one first mortgage boneis of 81 600
each OF the Los Angeles Cable Railway Com
pany. Petitioner is dcsirous OF foreelosing its
first lien upon the bonds, and to do so il is
necessary to make the receiver party defendant
to the suit The court granted leave to sue the
receiver.