The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-26
ABOUT SHARPS AND FLATS
Another Magnificent Scheme ia Which
DwiggiDs Was Interested.
lie Was the Backer Of the Mount Carmel Air
Ship Observation-Disclosures People
"koped In" on the Al6ine hotel.

In writing all these stories about the
wonderful schemes of that erudite, al
though visionary banker. Dwiggins. one of
his greatest ventures in financial way
has been overlooked When it Is stated
that this venture was the famous Penning-
ton airship scheme il would seem that IL is
out Of sight rather than overlooked. There
is no telling how much Of the funds of Mr..
Dwigginss numerous Indiana creditors is
lining the fieecy clouds where the airship
is supposed to have gone Or. without any
attempt TO be facetious. it may be that the
famous airship. with a view of emulsting
Jason, has gone to Mexico in search of the
golden fleece. Dwiggins was largely inter-
ested in some wonderful gold mines IN that
country of hoaxes and hacIendas.
IL was about q year and half ago that
the country was electrified with the won
derful descriptions of PenninRton's airship
that was to make semi weekly trips to Jupi-
ter, with Venus and SOHO of the smaller
stars as flag stations Shortly before this
time Dwiggins was dreaming in some small
Indiana town, but be was merely acting
upon the suggestion of she poet that all
thinRs serve him who only stands and
waits" Dwiggins made b meteoric splnt-
ter. and doomed mp as promoter IN goo
000.O 600 stock scheme to float this remark
able invention. More pains were taken to
float the stock than the invention. but
after awhile the stories of the ship began
to Till the public press. and it was general
ly known that Pennington was building
she ship &c Nit. CARMEL. i'll Dwiggins was
until recently interested In q small bank at
Mt Carmel. Chicago capitalists took kind
ly to the aerial scheme. Some put In wind,
which was. OF course. needed for an air
hun h noA nj
the realm. Wind was moro plentiful
In Chicago and therefore it formed
the bulk of the capital that went ito the
company. One day, It Is said, the ship
was taken by rail to Chicago IN order to
preserve the siren 9Th OF it's young and I'M
tried pinions. The soaring trial was not q
grand success. although tradition has 1t
that the ship sailed q few feet above
ground end then settled down to innocuous
duesuetude. The Dwiggins crowd over
awed the small investors by informing
them that il was only a confederation of
casuistical circumstances that made the
test failure-broken and improperly bal
anoed gearing, miscalculations. ETC. COM
ing under the head OF c. @. of o. The air
ship was sent back TO Mount Carmel, and
Dwiggins branehed out as banker. The
Colu mbian National Bank was not organ
lied at that time. although 1t IS said that
Dwiggins was interested In his small
Indiana banks. 1t is not known how much
money went into the airship scheme.
Inc Bank or MOTr!st0wn. 1t develops.
finds that Ii has Sl2 0C0 of the Chicago pa.
per- one-haif of which was in the shape of
either Northwestern farm investment
bonds. or those of the United States Trust
Company. of Oxford. Ind. and the other
half in notes gwen by some unknown par
" In Chicago. One of the local officers in
the bank was In the city few days ago.
inquiring as TO the value of the notes.
Dwggins told the M0rristown people that
the notes were all right. although the
name of the man who made them does not
appear rs business man of Chicago.
Theodore SbockDey, of Union City. the
attorney for some of the creditors of the
bank at Dunkirk. one Of the Dwiggins af-
fairs was In the city yesterday. He says
that arrangement has been made by
which the affairs OF the bank are TO be set
tied out of court. the creditors taking all
the assets and the Chicago people pay ing
any sum that may be needed To make up
the full assets. Mr.. Shockney says that on
the night of the suspension two men went
to the county seat of the county and got
out an attachment spreading the report
that the liabilities of the bank amounted
TO $4,000 and the assets only g.. 800. in order
to buy mp claims against the bank for o
small sum.
"Workrd" by a CHICAGO Hotel Scheme.
The Aldine Hotel Company, of Chicago.
has secured o considerable sum of money
from Indiana and Indiauapolis people on