River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1893-11-16
HE GULLED MANY.


MINNEAPOLIS, Mimi, Nov. l3-'.ouis
a. Meaage, the abseondlDg president
of the Northwestern Guaranty Loan
company, must be written down as the
colossal swindler of the century. Dur
ing the last few months of his connec-
ton with the company he mis-
appropriated the money Of the
corporation 70 his own use in
blocks OF thousands Of dollars
until his stealings footed mp the gigan-
tic total of tl, $50. s00il This all comes
out in the filing of The schedule OF his
individual liabilities in the Office of the
clerk OF the court of the county. In
the schedule oil his notes are
labeled secured by collateral security
with the \. G.. L. No attempo
s made to define this collateral In
Novembe 1892, Menage was the debtor
of the guaranty company to the extent
of sl6i,550 Although not all ,of this
amount can be traced directly out OF
the Golfers of the company much Of
il was money which passed directly
from the pockets of the patrons
of the company To Manages bank
account At that time his enormous
drain on the company began, and be-
tween that time ard May 3, 1893. the
financial pirate has Increased his in
iebtedness to the company by ss23,-
1870, making his total Indebtedness
20 the company on account OF notes
and similar Obligations s9s4, 69l. 40.
The amount tllat Streeter, vice presi-
dent Of the company, and Meusge are
charged with stealing in the joint i'm
dictments brought against them is
1903, 1886. As q sample of the general
run of the loans and the amounts
taken during the last months
of the existence of the Northwestern
Guaranty Loan company, the record
for e few days has been picked out at
random. January 10 Menage took Ia
"ound numbers ERGO, 900 IN seventy-four
nooes January 20 he took $40. ia8 in
nineteen notes. In February ne Dor
rowed twenty-eight notes in the total
sum of S29. 69l.5O March he again
borrowed. this time So, 900 IN twelve
notes April 20 the obligiag officials
of the company contributed sos. 900
TO Mr.. Manages personal fortune Bat
when the last days of The tottering
concern are reached all doubt Is dis
PEELED, il there has been any. that
Menage entered upon the deliberate
fleeing of the company. On May 10.
exactly three days before the company
suspended, it had enough money % let
its enterprissng president have s43, :
516 II in enc note.
But this amount of S9q3. III. Is is only
part of the total indie btedness If
Menage. That amount represents what
he got out of his company There are
other TENS made up of moneys CON
tributed by other lambs. The sum To-
tai of cash secured from taose ON the
outside is Si63. 496.
Manages miscellaneous debts foot up
$50, 45l.s4. The last item on the LIST
amounts to s426, 40. IS, and is called the
contingent list. The total habil. ties
are not footed up i'm the schedules. but
they may be closely approximated from
the dgures given above Collected,
they are: Claims of the Guaranty Loan
company, 1884, 6Sl 40; claims of banks.
corporations, e6c., S163 4gG; commercial
paper negotiated by Neher & Carpen-
ter, 100000; miscellaneous, 1856, 4ol. 81.
contingent liabilities S426, 10 IS. nalS-
ing a total of 81, $50, 500 H. AS to the
assets they may be largely summed up
as collateral security" aud stocks IN "A
thousand different companies of little
or no value The assets are of no i'm
portance, for no one expected to get
anything out of Menage estate.