The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-05-30
THE GUARANTY LOAN CO.

Tho Prospects Good for . R~rsump tion Of
Business by Jan. !.
II will be good news 10 Montanians TO
know that the Northwestern Guaranty Loan
company 10 getting its affairs in auch shape
that the officials hope BY Jan. to DO In =
position TO resume business. The follow
ing from the Minneapolis s.ournal. Of Sat-
urday, tells of the condition of it, nfyatss:
"1he Northwestern Guarant, Loan peo-
pie are much gtHtified with tue progress
they are making IN settling up their Affairs.
A considerable portion OF the business done
by the Guaranty Loan company was the
negotiating Of loans in which the Guaranty
Loan company Endorsed the notes OF Dor
rowers and became jointly responsible 10
the buyer Of this paper. The management
thinks il will succeed in arranging for the
settlement OF many OF these accounts d.
reotly between thu borrower and the lender.
collateral held by the company to protect
its guarantee. The fact that the North
western Guaranty company is in trouble
and in the hands Of II receiver often
makes it desirable, especially where tho
holder of its paper. or its guarantee upon
the paper of other people. Is . bank. or any
one whose credit il liable to be affected. to
conceal the fact OF the connection with the
Guaranty con- n This makes il all the
easier for the Guaranty company to indncc
the holders Of such paper to accept the COL
lateral held by the Guaranty company and
arrange for payment or extensions with the
original maker OF the paper, and 80 sue
able to settle up the affairs of this company
and put it in the hands OF its stockholders
again by Jan. !, in condition to resume
business. Some of the members OF the
company think this ia an overenthusiastic
view of the matter, but an officer OF the
-,-Or ,-h@ - AA1~~nrh1. IN ~ ttt0N nth
its accounts and the condition of its bus.
iness. Ia confident that this adjustment OF
its Affairs can be made within a few months.
This, Of course. relieves the situation very
materially and enhances the excellent EROS
poet that not only will creditors receive
dollar for dollar for all claims. but that
the stockholders may be protected FOL, any
loss on account of this suspension.
"The fact developed to-day that II the
financial furry, which stirred up the ndus-
trial stocks in Wall street about a month
ago, had not occurred. one of the wealth
lest men in the country would have been
the owner of the Guaranty Loan building.
He had made an investigation as to the
value of the property and rentals. etc. and
was thoroughly satisfied and everything-h had
been dom except the signing OF the papers
when the raid on industrials in New York
commenced and it WAS necessary for him
to withhold his monay to take care OF his
stocks. The building would have been sold
practically for 81, 600. 600. This would have
put into the treasury of the Guaranty Loan
company nearly q million of dollars in cash
which they would have had ready to meet
emergencies when trouble overlook them
last week. They still have the building as
an asset. the company holding the stock of
the building companies among it's assets,
but the sale would have been more service.
able to them during the recent attack on
their credit than the building. This sale OF
the building is not entirely off yet, however,
and the Probabilities are that it will go
through some time during the summer II
financial disturbances eastward do not be-
CONS more serious. The building is q
splendid piece of property and is paying
handsomely on the pricenamed."