Sturgis advertiser. (Sturgis, Dakota [S.D.]) 1887-1???, 1891-08-20
'TN AS A BARE 8 IV IN d
IT'S VICTIMS NUMBER OVER
THIRTY TEiOJS AND.


Detectives Chasing the Fugitive Manager
ne Has Decamped with Most Of tha
Piunder SIN 4 small Part DC the Re-
csipts In the Hands Of the curt.
Al hasty examination Of the books Of
tho National Capital Savings, Building
and Loan Association OF North America,
which was taken In hand by the United
States authorities at Chicago gives a
moro definite idea OF the extent OF the
fraud practiced by the close corpOra-
tion and shows In detail tho plan BY
which 81 900 people were Systematically
defranded. The amount OF the firms
receipts was somewhat exaggerated by
The first reports, but Inspector Stuart
ho.ds that at least $3.50, 900 for which
the stockholders got not q cent was taken
in by the company
The greater part of this amount, over
and above the associations expenses, Is
In the possession OF Louis r.. Mortimer,
the promoter of the project, who Is now
being closely chased by detectives In the
East. Ex-Judge s. A. Page and Attor-
ney Lyden Evans, for the cheated stock
holders, and District Attorney Milchrfst
turned rapidly through The dozen or
more ledgers and books Kept by tho cor
poration, and the result, roughly estf-
mated, gives the following figures: To-
tai amount received, $86, 900. OF this
$31, 700 has been paid to the agents
throughout the country. There are 3d.,
600 assets in sight, 80, 100 of which is the
securities upon which small loans to give
confidence to stockholders were made,
and the balance in the bank and now
subject to the courts order Then The
books show $4,000 paid to Lewis F.
Mortimer as commissions, and of this
$4,000 Mortimer must account to the
indignant stock holders. There is yet
$23, 900 to be accounted for, and Morti.
mcr is supposed to have the amount
with him. At least he did have it in
hand when he left the city on pressing
Eastern business" Since July 80 this
year $13, 900 has been taken In and is de-
posted as a trust fund, subject to the
order of the Superior Court, In which
the case is now pending.
Mortimer Is being closely followed in
the East, and word was received at the
Government building which. 1t is said,
will lead to his arrest. The officials
look upon him as the important man and
care nothing about the little catch, for
Mortimer got the money and the others
were used as his tools. Alfred Down
ing, president Of the bogus building as
ISOLATION, is still In the hands of the
Government authorities, but his ball has
been fixed at $4,000, which is looked
upon as an absurd bond for a man under
the charge made against him III the off,
Gals cared to hold him. N. lei. Tollman
has also been released on the same
bond. In view of the fact that both
men have told all they know about the
management of 4 tho National Capital
Savings, Building and Loan Association
of North America and are working
hand in-hand with the authorities for
the capture of Mortimer, 1t can easily
be surmised that neither of these mon
will be prosecuted, but will be used as
witnesses against Mortimer, who, ae-
cording to Mr. Downing, is some man il
thousand" and as smooth as the best.
Attorney Lyden Evans has been drawn
into this case by circumstances. He was
at first called upon by Mortimer to dee
fend certain little suits and knew moths
ing of the associations standing. Hp
did more and more OF the firms legal
business until one day he conceived the
idea that allswas not straight Mr.. Nor
timer was In New York at the time and
Evans demanded at the associations of
fee in the Rookery Building to have
access to the company's books If he was
to be its legal adviser. 1t was then he
met Tollman, one of the directors, and
he told him what he thought Tollman,
he says, became frightened, and asked
what he could do to protect himself, as
he did not know the association was not
straight. This started the ball rolling,
and a receiver would have been asked
for by Mr. Evans had not Uncle Sam got
there first
"Mortimer runs things with a high
hand" said Mr.. Evans, after he had
looked over the books of the bogus COM
pany, sand it's wonder he did not
smash things and get in the hands OF the
law before. He put his father i'm as
secretary and treasurer, his brother-tn-
law (F. @. Wentworth) as president, and
had man in Canada named Choate
whose proxy he voted regularly. 1t was
a sort of family affair between them, and
Mr.. Downing, the president whom
Mortimer claimed to have ousted by
the recent election, was made
tool of, as was also the vice president,
Mr.. Tollman. These men, | believe,
got nothing We are going now to
see what we can do for the stockholders.
There Is $1,000 left In bank and SO, 100
which we believe Is perfectly good,
That Is about 20 per cent, any how.
We will next make an application for a
receiver, and / believe the association
ought not to be allowed to go to pieces, as
there is heap OF money coming in all
the time. Since the money now In bank
was tied up over $4,000 has been re-
ceived, which the court win take charge
of as a trust fund, and believe that al
association that is in receipt of snch
largo amounts shouldn't be allowed to
go to pieces
While the figures got from the firms
books showed that 1886, 900 had been re-
ceived, this does not cover the entire
scope of Mortimer's business He ran
branch house for three months at Phila-
delphia, and of the proceeds 1t Is said no
account was made.
The company operated In nearly every
State in the Union and it's agents were
In nearly every town The plan was
the regular system adopted by building
and loan associations, only they failed
to make the usual loans when called upon,
and the stockholders money can only ba
accounted for the one way.
Inspector Stuart said that he does not
think record of half the money re-.
ceiyed by the association was kept, and
stated that more than fifty letters con-
tanning checks, money orders, etc, rang
ing In amount from VS. to $50, and adj
dressed to the association, were received
by one mornings mail.
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Missing Links.
LONDON theater-going is said to have
declined to q remarkable extent