The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-13

Canada q close estimate showed that there
were no less than S750.000 of these orders
afoat. and clamoring for payment, all
given for practically no consideration.
They had been sold to bankers, brokers
and private investors.
The holding by the courts that these oh.
legations were binding on the townships
meant the bankrapting of some counties,
almost beyond hope of recovery. The rul-
ing of the Supreme Court up to that time
was that the obligation of a township hav-
ing passed into the hands of an innocent
purchaser, even though 1T had been pro-
cured through fraud and without consider
alton, was binding. When case invOlv-
ing the Pollard frauds was appealed and
the court was informed as TO the effect of
1T, on the broad ground of public policy for
the protection of the people and TO dis
courage and render more difficult recur-
rence of the fraud, the court took another
tack, the rule was changed, aud these
notes or warrants were held to be void on
the grounds of fraud and the absence of
any consideration. The holders. therefore,
of these three-quarters of a million dollars
worth of bogus paper recovered nothing.
and the purchasers of the warrants still
hold them as mementoes of Pollard and his
dupes and O-cOnspirators
GEORGE RAYS OPERATIONS.
The headquarters OF this second system
of fraud and robbery through the pre-
tended furnishing of school supplies is in
Shelby county, of which Shelbyville is the
county-seat. The chief promoter and bene-
fciary of the combination is George M.
Ray. thrty-five years of age. married. and
brother to Scott Ray, of the Shelbyville
Democrat. himself somewhat noted as
Democratic politician and the boss of his
county. As to the total amount of Rays
transactions. there is now no means of
L. Dxr-,.
amounted to between thirty. five ard forty
thousand dollars. In several townships of
Shelby county there are traces of rotten
ness. but the bulk OF it is confined to four
townships; Union. Washlnuton; Liberty
comes in for SO. 000, Washington for 80 600.
Liberty for $4,000 and Hendricks for about
$1,000. Not all, and developments will
probably show that only a small
confined to Shelby county. Last fall a
special in an Indianapoli paper from Mar
tinsville told of an attempt to bribe the
trustees OF Morgan county into the pur-
chase of school supplies. Next day, it is
narrated at Shelbyyille, Ray took the train
for Martinsville and nothing further was
heard of the Morgan county matters Last
March the sheriff of Union county went to
Shelbyville and arrested Ray on the charge
of obtaining money under false pretenses
and Kay was compelled to give bond for
his appearance In the sum Of 81 200. Ray
succeeded in having the fact of his arrest
kept out of the newspapers. and has since
succeeded. from time to time in having the
trial OF the case STAYED OF. In addition 10
the counties of Shelby. Union and Morgan,
it has already developed that Ray has op-
Grated In Franklin. Fayette and Madison
counties. and how many more viii only be
developed as the bogus paper ma
lures and an attempt Is made TO
collect II. That most of Rays op-
erations have been conducted outside of
Shelby county is to be inferred from the
fact that most of bis time in the last two