Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-07-03
ANOTHER INSTANCE
/ OF fHB CURIOUS EUsINHSs ulHob
SUED By SOM PloPLl
The Kssscric Course ofths American ha'uin!
Loan Association in Wh.sliug-Nothins =
mains Of ths Organization but Dson

For week OF moIe past Cio
the American Maturity and Loan as
citation, with It's general headquar'''
in the Reilly block, and holding cue.
ter from the State of West Virgins
have been wondering what had oeco~
of the institution, as nothing RENAME
in their apartments in the Reilly o'o'A,
and no one in authority was to be loun1
about the city. The cations o..
that the concern has gene to seeo' anN
that the creditors in this city, wno'o
claims foot up about 5000. can chaieo
the same up to experience, and try W
forget the circumstances leading up "
the Indebtedness. ~ lar
Early in March of the present yea
three gentlemen Of engaging manners
and business-like, disposition cams "
Wheeling from Bradford, Pa. Onc - y
the trio was Roy w. Edgett, who nSa
the peculiar habit of sometimes sig:f .
his name "R. w. Edgett;" somea. =
"R. Warner Edgett," Roy w. Edge'',
"Warner Edgett," and so on. one y,
his companions was f. f. McCarty anu
the other was j. P. Taylor, formerly oi
Bradford and an old acquaintance "a
Edgett's, but who has for some tllno
been in this vicinity. The trio made tne ,
acquaintance of w. S. McCaskey, o,
New Martinsville, and he was persuadeu
by Edgett, who seems to have peel'
the ruling spirit, that there was q
good deal of money in the short term
style of business, and that they ought 10
organize a company. A prominent attor-
new was induced to become an incorpo-
rator, on representations made oy lay,
lor. and lent the use of his name anu
contributed the sum Of ten dollars TO tne
preliminary expenses, In manner oiteH
followed by attorneys.
The five gentlemen named procured
charter from the Secretary OF state
under the name of the American Matur-
ity and Loan Association, and an oillce
was rented in the Reilly block, Edget'
being the ruling spirit and manager
Business was commenced on the shorl
term order, and lot OF people rignl
here in Wheeling are said to hold certlf'
Gates in the concern, OH which more OF
less money has been paid; but which are
absolutely worthless.
For some reason or other, the shor'
term business did not pan out very wei
and the plan Of operations was changed
to the building and loan method, and al
effort was made to organize branch as
in, hn
one being actually started at Mounds
vile. Before this was done, however, a
leading legal firm was called upon, to
sec if the building and loan business
could be carried on under the original
charter, and Edgett said they were
tod the old charter would go until June
1st, when the new law would 60 into
effect. They ran along slowly, there,
fore, claiming to be waiting until June
lst, when they could get new charter
and go ahead full swing. AS Il matter
OF fact, however, q new charter was
never obtained.
Meanwhile the Moundsvile Associa-
ton had commenced business, and the
members had actually paid in dues, etc.,
for oae week, but it is believed the
branch has now gone to pieces, The
members being convinced that there i:
nothing in the thing.
Matters ran along thus during the
month of June, and debts TO very con-
siderable amount, which mad been con-
tracted by the concern, began TO press
To ease matters down, Edgett obtained
a number Of kilograms from Bradford
to the effect that one man was going Il
put $500 and another 5000, into the con
Germ, and that they would have plenty
OF money, while at the Hotel Windsor
where they owed Si95 for board, ant
where they were trying 10 get the deb
and some borrowed money squared
by note, they said a Penn
sylvania man was going I
pat 81, 500 into the business, and tina
when this money came along it would
be all right. To another party Edget
made the statement that they wanted t
get all their debts into the form OF 30
day notes, so when the man with th
money came along he would natural,
think the notes represented debts con
tracted in the course of business, ani
would pay them all of, including To
board bill, borrowed money, etc.
Friday, June Goth, Edgett and Nc
Carly went away, saying they would b
back soon, but some of their creditor
took the alarm. and furniture house
which mad fitted out the Office, too
away the stuff, while a printing firm
got out an attachment OF what was left
On Saturday Edgett telegraphed her
to the clerk. to whom, by the way, The
concern owes about $500, to look afte
the Office, and that they had mailed {
draft, but the draft never come, and NJ
one appeared. On Friday, before leay
ing, Edgett got the drafts cashed at {