The advocate and Topeka tribune., 1892-11-09

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IL to better advantage than the Illinois COM
pany could.
Those who know the methods Of the
company in this state, know that this
was precisely what was done here,
and the promise of fat positions
proved too much Of temptation to
the officers Of the Kansas Exchange
as we'll as those Of Illinois. The re-
port continues
The president and vice president Of the
National Union company, having visited
Illinois, and having had conferences with
the manager Of the Illinois company several
times previous to the sale Of the business,
they were entirely familiar with all the de-
tails Of the business, and urged, in letters
and kilograms, the contamination Of the
transfer and when, about the 1st of October,
doubts were expressed as to the financial
standing of the National Union company,
they were assured by Mr.. Wardell that they
had abundance of funds, he knowing per-
Sonally that they had $125.OO0 in cash at
that time and $l50,0OO in good faith sub
Scriptions by prominent manufacturers,
stating the same in writing to the officers Of
the Illinois company. Assurances were also
given that the concern was backed by the
National COrdage company, or By the same
men who are back of the National Twine
trust. The telegram from Fl, FL. BalCh,
October z, reads as follows: "We refer you
TO the firm Of L. Waterbury q Co., being
tho only one as knowing enough to give an
intelligent answer" which was sent in re-
sponse to request for bank references as
TO their financial responsibility. ' y
The purpose Of this suit of the National
Union company seems evident from all the
facts in the case, to be to get out Of the
contract after conducting the business for
about year, and on account of their ex-
tortion and monopoly features, and the
unpopularity growing out Of it's connection
with the National Twine trust, the business
became Improbable in the state. Itseems
also that the National Union company has
endeavored to transfer the business it got
from the Illinois company to corporation
called the Wholesale Dealers association
y
The National Union company was warned
by the officers Of the Illinois company that
it must conduct the business in such man
ner as to merit the patronage Of the organ
lied farmers or they would not be loyal to
It's business. These warnings they disre-
garded, and when they deemed they had
the monopoly secure and safe, il seems they
advanced theprofts, which had been an sv-
erage Of about per Cent., to the Illinois
company till IL ranged from % to so per
cent. under the program OF the National
Union company, one of their officers re-
oeiving letter from the company instruct
ing him to put his prices 80 as to make at
leaat 40 per cent.
The whole gist of this suit is sim
ply an attempt of the National Union
company to withdraw from the state,
having made itself SO unpopular as
to forfeit the confidence of the peo-
pie, without paying the accrued inter-
est on its bonds. tits the beginning
Of the end of one of the best organ
lied swindles ever attempted in this
country, and the people Of Kansas
must acknowledge themselves under
some obligations TO the ADVOCATE for
timely warning against it. We have
incurred bitter hatred, and much op-
position because of our stand upon