The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-11-17
IN JUST SIX MONTHS.
l. F. Menags Got Over a Million
Dollars From the Guaranty
Company.
He Took It in Blocks of Thousands
and Gave His Notes
For It.
Interesting Reading for Those People In
Thih section Who Have Had D%eAlinxs.
With the Minneapolis Man.

The Associated prsas dispatch from
Washington the other day. 70 the effec,
that Secretary of state Gresham had re-
Questsd the Guatsmalan government to ar.
rest L.. +, Menage, presidents of the North
western Guarantee and Loan company.
brings that gentleman again prominently
before The pablo. The schedule Of assets
and liabilities of Menaee published . few
days ago By the st. Pau papers makes very
interesting reading. II shows that during
the last few months of his connection with
the company, he nisappropriatsd the
money to his own use In blocks OF thous-
snds of dollars until his stsasings footed
up 10 the gigantic total Of 81, GEO, 500. ii.
This ell came out in the fling Of the sohed-
uie of his individual liabilities. In the
schedule all his notes are labeled, Secure ID
by collateral security with the N.
G.. L." No attempt 10 made TO de-
hne this collateral. In November. 1892.
ansy company to the extent Of $16l. $50. Al
shat time his enormous drain Oh the conn
pany began, and between that time and
May Is. 1893. he had increased his indsbt-
sdness to the company by 1898. 13l. 40. max
ing his total indebtedness to tho company
on account of notes and similar obliRa-
tions. 1884. S91. 49. The amount that Street.
Or, vice. president Of the company, and
kenaee are charged with stealing In The
joint indictments brought against them 10
499S. 7l2.b6. As q sample Of the general run
OF tho loans and the amounts taken during
the last months OF tie existence OF the
Northwestern Guaranty Loan company. the
record for . few days 10 PICKED ont at ran
dom.
January 10 Msnage took, In round mum
bsrs. $120. 600, in seventy-iour notes; Jan.
Is he took $19, 126, in nineteen not 8; Feb.
81 he borrowed in twenty-eicht notes IN the
total sun of $29. S91. 50; March 9 he again
narrowed, this time S32. 900. In twelve
notes; April 26 the obliGing officials Of
The company contributed $4,000 to MI.
NenaQe's personal fortune. On May 10.
exactly three days before the company
suspended. 1t had enough money to let its
e%ntsTpHising president havs $43. ZIG. II In
one nots. But this amouns of $3.50. 712.66
10 only . part Of tho total indebtedness of
MenaRe. and represents only what he got
out Of his company. There are other itens.
lambs. Jan. 2 the Industrial Trust COM
psny. Of Providence. was caught for $685.
900. On the same date Louis F. Menage,
trustee. and W. +. Strseter loaned Louis F.
Eenags, the business man, $5U,OOO This
amount, ouriously enough. ID divided into
two sums. ono of $50, 800. and the other Of
$13. 100. The Baptist centennial conveR-
ton contributed its mite in the shape Of
$1,000. The National! Bank of Redem ption
Of Boston loaned Menaee $25. 600 on Jan.
24t The Security Bank of Minneapolis
threw itself into the breach. April %.
for q pretty good sum. The total of
these and othse deals OF Q like nature foot
mp S163, 496. Nsher d Carpenter, brokers'
at Troy. N. Y, negotiated $40, 600 worth of
commercial paper. Menage's misosllan-
eous debts foot up $36, 45l. Ga. The last
item on the list amounts to $426, ITO, 70. and
IL called the contingent list. Ths total
Liabilities als not footed up In the sched-
ules, but they may be CLOSELY spproxi,uated
from the figures given above. Collected
they are: Claims of the Guaranty Loan
company. 1884. 6S1. 40; claims of banks,
cosporations, ETC., $163, 1876: commercial
paper negotiated by Nsher Il Carpenter,
$40. 900; miscellaneous, 1856, 451. "a; contin-
gent liabilities. $426. ITO. 70, making = total
Of ST. $50, 800. II. AS to the assets. they may
be largely summed up ~ "ooilateral seeur-
ity" and stocks In . thousand different
companies OF little or no value. The as
sets are Of no Importance. for no one ex-
poets 10 get anything out Of Mensgs's es-
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