St. Paul daily globe., 1893-09-20

Mayor Eustis and II. E. Fletcher
Furnish !t-Charged With De-
Glaring Dividend When the
Company had Not Earned One
-Jamison Named as a District
Judge.
a profound sensation was caused in
this city yesterday by the arrest OF Will
lam S. StreeIer, vice president of the
Northwestern Guaranty Loan Company
of Minneapolis. which recently
failed for a large amount, and
whose president, Louis f. Menage,
has disappeared. The complaint is
made by j. H. Burke, of st. Paul. The
complaint alleges that Streeter declared
s dividend for the North hWestern COM
pany when The funds were. insufficient
to meet il, the intent being To deceive
the public.
Mr. Streeter was arraigned in the
municipal court. He waived eXamina-
ton and was held to bail in The sum
of $1,000. which was furnished
by Mayor w. Ii. Eustis and Ii.
E. Fletcher; Mir. Eusts WAS director
of the defunct company. This action
formation which led 10 the belief that
Mr.. Streeter was about TO shake the
dust of Minneapolis from his feet. al
though he denies that this was the case
Ii was strongly lntimated yesterday
that The county attorney Will not be sat
istied with a $1,000 bond, and that OPP
pOrtunity will he afforded DUndSmtn 10
sign their names under higher amount
made necessary by a further charge.
L arN
to have The matter before them. 1t Is
rumOred that all of the directors who
were present at the meeting at which
the dividend SUOken Uf was declared
will be indicted.
The amount of claims against the
Guaranty LOan company on notes.
alleged TO be Yaiueless. and the sign rs
OF which cannot he found,
1t is stated by an attorney
who has been investigating the
matter, is now over Sl,70O. 900. The
greater part of this paper is held in
Caledonia, Orleans and counties
in tie Immediate vicinity III
Vermont. Suspicion Was aroused
soon after the ompany made an
assignment that was not right,
and about the 23d of July. Mr. ProuLy,
a prominent attorney ot ST. JOhnsuury,
VI. Game 10 Minneapolis 10 investigate
the claims OF the Vermont stock
holders. lie spent about TWO weeks
iii This vicinity, ana, returning East.
advised lhuSe nOlding Tie paper 10
place their claims in the hands OF
local attorneys. This has been done
any nearly every lawyer In the city has
Il claim of this sort. Harrison IL NOyeS.
Gilfiilan. Belden d Willard and several
others nave he largest claims, in most
Gases amounting 10 over SlU0.UO0.
Several years ago the tribune build
ing In This city was destroy ed by ire,
leaving the bare walls standing. a
mortgage was foreciosed OH the
property for 100000. 1t was not
redeemed. IU was afterwards
sold to Author Nj. Wright. OF Suffolk
county. Mass, Tor $50. 600. lie in turn
sold it to the New England ASSOCIATION,
OF this city, tor Stv0,0U0 in June. 1892.
On Dec. %. 1892, the New England
association gave mortgage on the
property for S225.OU0 10 William ).
Streeter. and June 20, 1892, the associa-
lion gave another mortgage Oh IL Tor
Sl0S, 900 10 William S. SLreeter. Both of
the mortgages were Lot flied until June
9. 1898. / lie last one was assigned OH
the same day as filed to the Minneapolis
Trust company as receiver for The North
western Guaranty Loan company.
The officers of The New England as
SociatIun are john NJ. Bartlett, presi-
dent: Louis +. Menage. vice president:
James c. Plant, secretary and treasurer.