Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1894-02-01

Hlent made Dy MT. Luthy, hlllSeli,
who is now in the state to protect his
interests in the matter of the notes:
Mr.. Loucks wrote us some time time ago and
demanded to know how we came into posses
sion of these notes: he wanted the information
for the benefit of innocent victims Loucks
is a visionary man. There are no innocent vic
tins. We wrote Loucks that we received the
notes in the usual business way. How did they
conceive got them by express. Where fromY
| THEY CAME TO US LAST FALL FROM THE DA-
KoTA FARMERS ALLIANCE. We have of course
a full record of the whole transaction in our
Office, everything is in black and white. Come
TO our office in Peoria and / will show you all.
l am away from the books and correspondence
and do not wish to make a statement. If LOucks
is anxious 10 know the whole matter let him
examine the books of the concern. That's the
| first place he ought to look. He knows some
thing about concerns like this one.
We hold these notes as collateral. Our bust
ness with the Dakota Farmers Alliance began
some five years aga. They became indebted to
Us, and We extended their credit. When the
directors sold out to the National Union a sum
of money was due us. Last year they sent us
these notes. We hold them as collateral they
are our security. Our correspondence will no
doubt tell who sent them. Probably fine Off
Gals of the alliance know all about it. None
viii dispute that We Carried the concern on cur
books, and we ought to have our money. We
do a large business and have never dealt harsh
ly with anyone who is fair.
The talk about the number and amount of the
notes is somewhat wild. l question whether
$1,000 in stock in the concern was subscribed,
nor do l know il We have all the notes that were
given. i question whether we have more than
$1,000 worth of this paper--at any rate not to
exceed $4,000. We expect these notes to be
paid we seek DO trouble. These notes were
given for stock under your laws they must be
paid il there are any creditors of the concern.
Such paper never outlaws. So he says that the
notes are not Endorsed over to us. / want to tell
you that we have two remedies. We can sue in
the name OF the Dakota Farmers Alliance for
fine use and benefit of Luthy & Co., or We can
/ go into the United States court and ask for the
appointment of a receiver. OF course that
would mean that each signer of q note who re-
fuses 70 pay will be served with a luminous and
can attend the United States court and be at
that additional expense. The receiver would
apply what he realized to the liquidation of tbs
Indebtedness. We don't want to make any one
any unnecessary expense. The amounts are all
small. These people are indebted to us as
shareholders of the concern. The condition of
affairs could not have been other than it was.
Such concerns must. in the very nature Of things
fail. You cannot conduct business with vision
airy methods. Where the capital is largely wind
there can DO but one ending. The people
should learn that business must be- conducted
on business prineiples,"
No doubt Luthy & Co. know
pretty near as much what they were
about when they accepted those notes
AS collateral, as Loux 81 Co. did
during the first year." when the
$500 on each share was quite sue
cessfully chucked into the rathole
where so much other good lucre has
disappeared. Those notes are in the
banks of many counties in the state
where Louxocracy ran rampant a few
years ago. In all human probability
they will be collected. One test
case will settle the whole business.
While the farmers are worrying over
their danger and selling cows and 60
ing without coal to pay those notes,
the Senator sits comfortably in his
snug, warm, steam heated castle, the
$500 cash part of the deal entirely
safe, his massive intellect unharrowed
by any such tri1es as collateral Sc
curity," his immense cerebellum dis
tracted by nc more ignoble or every
day studies than such as compass the
financial affairs of this great Yankee
nation and devising means to secure
the coveted entrance to the American
House of Lords. Having so success
fully and brilliantly managed the
vast concerns whose remains now re-
pose so sweetly and so peacefully in
his own particular cemetery, this re-
markable genius now signs for more
worlds to conquer. He demands
promotion to that higher and broader
plane of action where his immaculate
and oft tested wisdom and integrity
may be exemplifed, and the purity
and saintliness of his intense Ameri-
canism can be given more latitude.
lie is now asking such exaltation at
YOUR hands, South Dakota farmers. /,
is anxious you should elect the /