The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-19
NEW METHODS OF FINANCE
Investment Company with Debentures
Secured by Contract for Land.
Had It's Home In This City. but the Local OF.
fcials Decline to Talk-Ceriified by the
Dwiggins Trust Company.

The Northwestern Farm Investment Conn.,
pany OF Indianapolis was brought into
some prominence yesterday when u De-
came generally known by published re-
port that Zimri Dwiggins and J. d. star
buck. of Chicago were interested In the
com pany. Efforts to elliott information
concerning the affairs of the company from
those parties In Indianapolis who would
have the best reason to know of such affairs,
proved wholly unavailing. L. &. Atkins.
who Is named in the bonds issued by the
company as president, refused TO even talk
about the affairs of the company to the re-
porters who were sent to question him.
Pierre Gray. who st one time acted as the
attorney for the company. declined to dis
cuss the affairs. surrendering but little in
formation. and that by piecemeaL
It bad been reported that the Greenwood
bank which went into the hands of re-
eeiver Through the suspension of Dwig-
gins's Chicago bank, the Columbia Ma
tional,) held 5000 of ths North western
Farm investments Company's bonds. Mr..
johnson confirmed the report that the
pank held this amount of the bonds. but
be added that the party from whom they
had been obtained was positive that the
bonds were good. Mr.. Johnson knew MOTH
ing OF the affairs of the company. Is had
been represented that S15. 900 of the bonds
had been paid and that there was or nal
Iy $4,000 of the bonds secured on lands In
the Dakotas.
On Nov. rs. 1891. the company was incor-
m n
stock of $3.50. 900. The names of the moor
porators and the amount of stock they held
were given as follows: James NJ. Starbuck.
$1,000 s zl% nno Dwisslns $1,000 ESQ ~ oS ~.
and Z. Z. Atkins, $4,000. The manager of
the institution in 1892 was James NJ. Star
buck. The company was organized TO buy
and sell land in Indiana. Illinois. south
and North Dakota.
The debenture bonds issued by the North
western Farm Investment Company are in
the denomination of $500. bear per cent.
interest. and are secured, IL 10 declared, Dy
a lien on "a certain land contract for the
sale of certain lands In the State Of North
Dakota, and the real estate therein de-
scribed which contract 10 now held In trust
by the United States Loan and Trust Com
psny of Oxford, Ind"
L. O. Atkins. who Is named as president
of the company on the face of the bonds,
refused to give the slightest inform alton
about the company. He was shown copy
OF an afternoon paper referring TO the at
fairs OF the company, and after reading the
report and commenting in o bitter way
upon reporters in general. he handed the
paper back and said he had nothing to say.
You have no right 30 ask about mans
private business affairs" he added.
Where are the offices of this company
be as asked.
He only reiterated his intention to say
nothing about the company. 1t was sug-
gested to him that the public would be in
terested in statement from him in view of
the deliberately displayed article of the
sfternoon paper This suggestion had no
better effect. except to draw forth the IN
formation that If the papers printed any
thing about bis private affairs they did so
on their own responsibility. Mr.. Atkins
would not even furnish the reporter with
the address of any one that would be will
ing TO divulge any information about the
company.
Pierre Gray says he was en- ployed By the
company at one time in q legal capacity.
but his lips are sealed on matters pertain
face of the bonds it ia stated that the home
office OF the concern is located In Indian
apolis, but Mir. Gray Processes to know but
little of the movements of the officers and
that little he will not reveal.
do you know whether any of the bonds
of the company were held by the bank at
Greenwood" he was asked.
AZ am not at liberty TO say he replied.
as it's attorney and am therefore not at
liberty TO talk about such matters"
do you know whether this company
bought the land for which 1t evidently
contracted as the bonds would indicator
IL cannot say nything about that"
Mr.. Gray could not tell who the incor-
porators were. did not know how much o,
the capital stock had been paid in. al.
though he knew that it was nOmlnally
placed at S250.000. He knew nothing of the
~ u H.. II
Oxford. Ind; did not know whether or no,
1t was insolyent. did not remember who the
officers OF the company WERE and did no,
know whether or not Z. G. Atkins wss now
president OF the concern.
The following is copy OF one Of the de-
benture bonds. which were engraved in
this city:
THE NORTHWESTERN FARM INVESTMENT
COMPANY.
HOME OFFICE. INDIANAPOLIS, IND.
Debenture Bond.
Incorporated 1891. Capital $25O,OO0
On the LIST day of May, 1902. Tor value re-
eeived. the Northwestern Farm; and Investment
Company hereby promises TO pay to bearer, at
city OF Chicago, the sum OF 1900. with interest
tiscreon at the rate OF per centum per annum
until paid. payable seml-annually, at the same
place. on the LIST day OF May aud November in
the twenty coupons annexed to this bond which
coupons are duly executed by having affixed to
rotary or said company.
This bond II one or a series of ninety-five de-
benturo bonds OF like tenor and effect, of $500
each. aud the payment or the said bonds and an.
nexed interest coupons Is secured by lien upon a
certain land contract for the sale of certain
lands I'm the state OF North Dakota and the real
estate therein described, which contract is now
held in trust by the United states Loan and
Trust Company. of Oxford. Ind.
This bond may be redeemed ON any interest
day. and on and after the first day OF May 1898,
after the publication OF notice to that effect for
three weeks in the Financial Chronicle, OF the
CITY OF New York, and three times in daily
newspaper OF the city OF Chicago the first pub
location In each paper TO be sixty days before
redemption.
This bond shall be certified on its reverse side
By the United states Loan and Trust Company,
trustee. that IL is OF said series and is secured
stated. This bond shall he subject TO the
terms, conditions and provisions OF O deed OF
trust executed by the said investment company
% the said trustee, bearing date the I'd day OF
May, 1892.
II default shall be made in the payment of any
OF said coupons. and such default shall continue
for period of sixty days. the said trustee may
elect 20 declare the whole principal sum of all
the debenture bonds issued due and payable.
In witness whereof the Northwestern Farm
and investment Company has caused these pres.
ents TO be executed by its president and its gen