Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-07-19
WORTHLESS BONDS.
Base Of the Great Suit Against
the Farwells.
so SAYS THE CHICAGO EX-SENATOR.

Valued - Him ~ Waste Paper Which the
Piaintifrs Can Have II They Will Cart
Them Awsy-In the Farwslls' Posse ssion
. Year Before the Potter.Lovell Failure,
Which Caught the Chicago Firm for .
Large Sum.
CHICAGO, July 19.-''This suit is more
in the nature Of a huge joke-an attempt
to ascertain the probable value of q lot Of
worthless waste paper. apd altogether il
is laughable matter" was the comment
Of Charles B. Farwell on the suit for an
accounting upon securities aggregatina
In printed value Sl2. 49,, 900, which it is
said were frauduiently conveyed to the
John V. Farwell company by Potter,
Lowell & CO., Of Boston, just previous to
the assignment of the Boston Promoting
and Brokerage company, which occurred
Aug. "a. 1890. The ex-senator stroked
his beard, removed his eyeglasses, and re.
peated the words waste paper" and
broke into laugh that would indicate
that the veteran politician and business
man was In the best Of physical coudi.
ton. He did not appear worried because
Attorneys Reed. Brown and Allen, rep
resenting John Brooks and George d
Bullens, the assignecs OF the Potter-Lovell
company, had filed such q sensational suit
in the United Ste ties court.
Plaintiff, Welcome to the Paper.
"There is no frau!. nor is there a tine.
ture OF fraud in the fact that the j. V.
Farwell company holds these securities"
continued Farwcii, land tho case will
amount to nothing. 1 told one of the
young attorneys who brought the suit
that he needn't go to the trouble of filing
papers in court. informed him that he
could back wagon up to the store and
take the entire lot OF waste paper away,
II he wished, 81: 600, OOG or more and all.
to court and make q big splurge over sla,-
$50 OU worth of securities and charge us
with knowing that the Boston firm was
tnsOlvcnt when We took those securities
from the state OF Massachusetts,.
How Earwell Got the Securities.
Seriously speaking the securities wers
In our hands over year before the Pot
ter-Lovcll company failed. and VIC took
them as about the only thing of supposed
tangible value we could get to secure our
advances made to the Boston promo tors.
There was a possibility that perhaps the
sic $50, 900 in shares aud bonds might
yield Us much as the money We subse-
quently lost when the firm failed. We
arc the largest crcditors-no, will not
say largest, but one of tho largcst-of the
dcfunct Boston house, and IL the assiznees
should get these securities and they
should realize upon them the major por.
ton Of the money would come to us any
way"
Farwells Were Badly Nipped.
Have you these securities stored in
some big vault?' Mr.. Farwell was asked.
Really, l don't know. Perhaps they
have been hurled into waste paper
basket or used in packing fragile arti.
cles''
Would you object to stating how much
of loss these shares and bonds represent
to the Farwell company"
THE sum l will not give, but it is
large one. We got nipped for a generous
amount and are today large creditors
And there is no prospect of that printed
paper ever liqu:dating anything like the
amount. either