The Bessemer indicator., 1894-09-15
DENVER BANKERS INVOLVED.
Big Mexican L.pd swisdis Brought to
Light,

New York. Sept. l1.-AccordInr to
allegations contained In a complaint
iiled In the United States circuit court
Judge Lacomb will be called upon to.
morrow 10 take action with the object
Of preventing the continuation aud final
consummation OF what Is alleged to be
well planned scheme TO defraud
me chief actor In this scheme. John
T.. Beatty, an American, resides in
Texas. His victims include promin-
ent New Workers and other residents
OF 'he United States and Canada. How
lar the scheme has succeeded has not
yet been determined, but one victim,
James Ii. Beatty, president of the Ger
man ana Northwestern Insurance COM
panf of Ontario, Can, and Of the Fed
crnl Life Assurance company of Ham
ilton, Ont, swears he has lost $37, 800.
nd 1t is charged that the gonl of John
c. Beatty's ambition was to fraudti.
lcntly obtain possession OF S7,5NO.0O0
The cOmplninnnts In the case in nddi-
tion to James ii. Beatty are james G,
Akin, Benjamin ii. Doane nnd Leo
Wormster of New York
The defendants are Frank l.. Miller
Charles II. Dow, Samuel Il. Wood, f.
p. Ernest. Frank Church, James IL
Brown, Charles w. Kittredge. James
n. Carlisle, Thomas j. ODonnell ol
Colorado. and John c. Beatty of Tex
as, all directors or trustees Of the Colo
RADIO River Irrigation company
The company was first organized on
January I. 1892, under the name oi
the Arizona and Sonora Land and Ir.
rigation company. but the title was
changed on January .. 1893. to its
nj MT ,.-;r =
WAS to carry on irrigation of land in
California. Arizona, Lower California
and Mexico. Its capital stock was
sT,500, 900. divided into 10000 shares
Of $50 each
According TO the complaint. however,
the company WAS organized by John
c. Beatty Tor his sole interest and ben.
eft and to enable him to realize 81
100000 ON trait of worthless land
containing l.50U,0J0 acres on the Alta
river in the province of Sonora, Mex,
to which 1t Is said he did not even
have Il title.
Having organized the company and
Obtained the issue of the capital stock
by alleged fraudulent and fictitious
statements. ii is charged John c. Beat.
~ Went about negotiating with the OBJ.
ject of transferring the land to the
company for the whole of the capital
stock, or ST.500DOO. The land formed
part OF what Is known In Mexico ms
the Jechcr concession, the meaning of
which is not explained in the com.
plaint. but ii is charged that John c.
Beatty has no title to 1t.
The board of directors, 1t Is charged
We're then, as now ready aud willing
Mt all times to carry out Bcntty's b.,
hests. The president of the board
was Charles II. Dow and by Il vote
OF the majority it was agreed to trans
for 100000 shares of the company to
John G. Beatty for sT,50O.GG0 as soon
ns 1t was possible to carry out the
transfer. The directors, it is charged.
made no effort 10 investigate either thu
character of the land or the genuine
ness of Mr.. Beatty's title to IT.
To further facilitate matters, Mr..
Bcatty's board of directors, with cS.
elusive control OF affairs, nt a SALARY
of S6.000. while Frank l.. Miller. con.
ccrned with Beatty. was elected vice
president of the CON pany and also
given salary of $4,000 year. both of
which transactions are charged to be
Illegal