The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-09-29
He DREW TWO SALARIES,
kaots About S~lrester's Connection
With the Guaranty Loan
Company,
bio Malses an Afalavtt Concerning
laia Relations Win the
Concern.
Hat Present Hts Property WoN'd net Not
&a.AOO and MS Investments We're
Very Inpr"htAbie.

w. Il. S~trester, vice. president OF tho
Northwestern Guaranty Loan company,
who has been indicted by the grand jury
" Minneapolis, " held In 100000 bail by
ne district ecu ! there. Tits lie wHs an
Abe 10 furnish. When the question OF
bah came up Inwyey W. A. Lnnonstsr spoke
ht lsnpth and earnestly IN favor Of a small
tlrure, pointed out that MenaRe, the arch
,fre.der, had fed aud that Strseter had
.mained TO face ths music and had no In
hantion whatever of leaving thia art OF the
%sount,v. After Lawyer Lancaster had
taken his aeat County Attorney Nys quietly
remH ksd that the sixs OF the bonds should
he in proportion TO the enormtty OF the
,,Yense. Judge Canty then placed the
amount OF the bond At $4,000. A subse-
uuept motion to have the bail reduced to
$lb, 600 was denied.
The whole aifait has only served TO add
fresh interests the Northwestern Guaranty
I.oun collapse and the miasma of fraud,
Reception and ignorance that surrounds II,
SAYS the St. Paul Pioneer Press. In the
frat place the action was very rapid, and in
the nsaond place tho charge was totally
different from the one that was commonly
believed tho indictment would DO found
upon. II WINS the common opinion of out
siderA TINT tho jury would try TO indiot OH
the charge Of voting tor u dividend when
the COMPANY was inRolvent. IL " further
believed thnt evidence brought before the
iu,y fully sustained all the charges that
have been made In the newspapers, par
tioularly in the case of Mena4e. The de-
eision to indict ST. eeter was u rived NJ hur-
iedly Friday night. and made IN oonse-
qusncs. u IL aAid, of u ruMor that the woe
Iresideut was about 10 leave town. The
seo, etary. Flauk j. Perc,val, was not in-
nicted. IL ,s probable that there will be no
indictmcnt OF the dtrectors-at least not
for voting Tor tho famous dividend that
was declared after the company was in
solyent--tor il viii be q vary delicate mat
tor 10 say Just when ths company became
iusolvenS. Az to the evidence that WAS
brought before the Jury IN sltesteF's cese
the blnokast piece wnH that which y owed
that he had been drawing two salaries. one
from the company and the other I ON
MENACE, of $4,000 each. The iact was
mo, cover pointed out that In MonaRs's ab.
sceuo, y the vice. president was IN absolute
authority. hlenAR8 IL. according to the
lassst reports. in Chllo, and II IL very
doubtful IL he 0en or will DO extradited.
John Ii. Burke. the nemesis Of the North
Western Guaranty LonA conf any, Ia now
ont with u statement in which he shows n
certain discrepancy IN the conipany's state
InlntH 10 the eNNIllutlh VI oSAho ~
Massachusetts The statement made to
the NJ massachusetts, anime shows total
Rssots OF x4, 4SS, 07S. 70, whiob nre exactly
balanced Ly thu liabilities, The statement
made TO tne Vermont examiner and sworn
10 by Streeter shows n totnl lndebts ness
OF xS, ABB. G6b. %. These two statements were
made at about the same time ana YET they
Hhow a disc, epnncy of about VA, O0O. UO.
The statement made in Mas ,hchusetts
omitted the item OF guaranteed loans md
"lonns said not to DO rua anteer." The
Vvrmuut statement Ia supposed to be the
cor, cot one ana was made to Impress the
natives with the colossal business the COM
any was doing. An imp esSion that was
made, to Judge from the amount OF the
%oompany's paper that Is said to be held IN
Vermont. ~
hiH relations with the Guaranty Loan COM
pnny, Summarized tho affidavit 10 aa toll
lows: His present possessionA are twenty
shares in the Northwestern Qua hnty Loan
company; 81, 600 wo tn OF stock par value
in tho Compo Boar COMPANY. ms laa,
wan purchased as late I'M last January and
he mid $40, 600 for It, but tue stock ID now
yNlueless. In the way Of stocks he h!ao
possesses $25. 600, pnr value, OF American
com, O board stock. which IL likewise prac-
tically value!est; five shares IN tho New
Albuquerque, N. M. valued NJ $500 rer
ahnre; this also IN now OF M vninr. lie
seems to nave been very un luckY III lnA
stock ~ EQUATIONS tor in additions to the
Investments already mentioned he wta
caught for two shares OF stock III the Min
uenuOlis Realty com nny, winch are not
now, worth more than $3.50 per share.
The affidavit deals with the propetty OF
the Ntfinnt, both real aud personal. Ga
the list are a horse, two cnrriaRes, forty
eight no - of land in Vermont, one inaur-
uncs oliey and eighty acres OF land IN
Montana, worth about $1,000. The total
vn.ue Of ali theso items OF his poverty OF
all KINDS, both exe,n : ana non-extmpt, ~
not more than T9,3 9N. He says That az
present, ana since tNe fixture OF the
Guaranty compnny, le ms hnu no income
excevt tue $50 u mouth taid him by the re-
cr,yer Of TIC company tor taking care OF
the Qua pnty Loan bull ,np, ana that on
account OF tue IN so expenses entaiitd 10y
,.nson of sickness he IL NJ pres ut entirely
Withou, menns.
After tins the bold statement il mada
thnt he has never hnd amy transnction with
the Guaranty Loan company on his own
nccouni nor hua le leen inter rs,ed IN any
tnnsaeuon, e1cel I in two cases. which ar
n, ok, II OF IN Vie n~ihanvlt IN detail. One of
these was n deAl with Mennge whereby
through tie 80 r"n or to ~ eeter OF
Ell. 800 worth of the a,oek OF the Com, &
10 ID company to lny II lonn, Menngt
rsIpnlrG .he Cumpo Bonru company from
Sl9, 0DO worth oil mcumherhncea he'd by
linn on the property OF thnt company'
After thia the Compo Boar company made
i,s promissory not. Tor S2b,hOD. WHOM WA
uuHrnnt, ed by the Gu, rHnty loun com
unnd ana the proee1ds were used in w
ieu,tlmnte business of hat COMPANY,
Strcstar stated in tho Rthinvit, howevs
that no In no WAY rotted by this ,uan.
The other item in which hs had deaiingt
with the company on his own account WI,
when on May 10, 1893, ls DO rowrd Of the
CIV ranty Loan company $1,000 aud gave
his note the, efor, socur d by ton shares IL
the Security bnnk OF this city. The mote
was ntteI wAraa paia out OF tina collateral
All OF this has been rather dull reading
but some hing ,uterest,n9 appea y when h,
speaks of hin personal income dut ing sn,
time OF his connection with thu defnno'
company. He says that he was in tho an.
pluy of tho Guaranty Loan compan TO,
about tour yents, and that during the Il .
yea his salary was IA, q nJan. l, 1890
this salary WAS incroU cd to $1,000 pa
YEA , At which rate IL wBa roRuin rly palt
until A Ri, 1899. when it was again III
erensed, and ! Ia time to the prlncsi,
amount of $1,000 per month. lilo turtle
stated that since the death OF Henry Men
nge in 1891 he hns been drawing $500
month from Louis i. MENACE for actin
70 Inn IN ngent. H8sldcs thiah he has beei
getting ~. 900 u ysnr from tie Minncnpoli