St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-28


sence Said to Be to Secure
Money.
Special to the Globe
SAUK CENTER, Mimi, Sept 27.-This
little city has been considerably
wrought up during the past week over
rumors floated against A. II. Petit, one
OF our most respected and honored bus
ness men, charging him with being de-
faulter of several thousands of dollars.
As the gentleman has not been in the
city for four weeks. and cannot defend
himself, his friends are taking up the
cudgel in his behalf aud stoutly deny that
the stories fioated are of such grave
nature as reported. For seven years
past MIR. Petit has operated a loaning
agency in this city, and has also turned
his attention to collections and insur-
ance. Before he went into this branch
OF business he operated general store
mere for several years and was always
considered an honorable, upright citi-
zen. and no spot or blemish had ever
sullled experimentation socially or
III the business circles.
When he left here recently he told
his friends he was going to visit the fair
at Chicago, and when he did not return
after two weeks, it was presumed, by
the majority, that he had gone to Wash
lngton to try to secure recognition
and press his claims for the posi-
tion of register of the st. Cloud
land office, for which place
he had been making a determined fight
for some months past. 1t now leaks
out that when lie left some of his most
'intlmate friends knew that he was in
financial straits, and his Chicago visit
was only cloak to ward off suspicion,
while the truth of the matter was
that he was going to obtain
money, of which he badly stood
+ in need. When three weeks had gone
and he did not return rumors got out
that A. Fl. Petit would not come
back; that he was short in his ac-
counts several thousand dollars and
that his downfall came by heavy
plunges in wheat in the board of
trade at Minneapolis. About a week
ago representative of the firm Of A. F.
d l.. Z. Kelly, of Minneapolis, for
whom MIR. Petit was Ioaning money
in this vicinity, visited Sauk Center
and checked up the books. The result
was surprise to Mr.. Pettit's friends
here. as a shortage of from $1,000 TO
$4,000 was found. Since that visit other
stories, more or less authentic, have
been fioated, and it is, stated now that
his entire losses or shortage will not
fall much short of $4,000.
The whole affair has created great
amount of talk here, and the general
supposition is that Mr.. Petit will never
return. The friends of the family are
legion. as through all the years
of their residence here they
moved IN the most promi-
nent social circles, and anything that
has promised we'll for our city has always
been strongly advocated by the missing
man. No tidings have been had from
him for several weeks. which strength
ems the theory that he may never return.
A. II. Petit has always been repre-
sentative citizen. enjoying the fullest
confidence and esteem of our citizens,
duU Has UcSl luNOIcu WIFI pU-
. sitions of honor and trust. For several
years he was city recorder, has been an
able and discreet member of the city
council, and at the present time
holds the position as alderman from the
First ward. is president of the Bryant
Library association, and also president
of the Sauk Center Building and Loan
association. His friends are 10th to
believe that he has wronged any man
or corporation, but the deeper his busi-
ness affairs are probed, the more appar-
ent it stands out that there is something
''rotten in Denmark"
Since The story of his failure has be-
come public, 1t is also coupled with the
information that this is the second time
he has played 'change and lost a fort
une. Before coming to this state he
had amassed large fortune in Indiana,
and lived in palatial home, but lost it
all by investing i'll pork, and it was to
commence life anew that he came to
Sauk Center and engaged in business.
His Indiana losses were all paid, dollar
for dollar, and his friends here and
elsewhere trust that he may raise the
financial cloud that now rests upon him.
Regarding the absence of Mr.. Petit,
A. F. Kelley, OF Minneapolis, said
yesterday there was no occasion for any
alarm. as the former had gone to Wash
ington on business connected with the
poStmaStershIp.