The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1895-04-06
BUSINESS SENSATION IN ST. LOUIS
Elevator Combine Is Short Thousands OF
Dollars by smooth peculations.

Elevator Combine Is Short Thousands Of
Dollars by smooth Peculations.
St. Louis. April IA morning paper
states that at a meeting held recently,
at which were present some OF the best
known grain merchants of st. Louis,
formerly associated together under the
commercial title of the Merchants Ele-
vator Company. which went out Of bus
mess in 1890 to be succeeded by the st.
Louis United Elevator Company, meas
ures We're enacted which promise to
unfold one of the profoundest business
sensations ever known in st. Louis.
The paper says:
The st. Louis United Elevator Com
pany was founded by Captain d. Stat
terry in 1886. the captain having assoc
ciated with him j. NJ. Thomson, f. c.
Thompson, 1. NJ. Harris. d. Blocks. r.
r. Kerns, w. II. Anderson. Judge d. II.
Laughlin and others. Captain Slattery
was president and general manager.
having a majority of the stock. At the
time 1t was sold to the trust, Captain
Slattery and members of his family
held AIT of $50 shares. Only a partial
settlement was made with the stock
holders at the time. They said that all
subsequent efforts to effect a settlement
of affairs had been futile. A late con-
sultation resulted in the appointment
of a committee consisting of d. Blocks,
Henry Laughlin, Robert II. Kerns and
w. T. Anderson to bring about a settle
ment. The committee was instructed
to place the matter in court for adjudi-
cation.
w. T. Anderson, one of those inter-
ested, said: THE strangest feature is
that we can not account for about $685.
600 or 900 worth of wheat that was
in the elevator. Slattery was president
at the time and in full control l can
not see how the grain got away with
out some one knowing it. We had $780,
900 worth Of bonds on the elevator
which we never ordered him to sell, but
they are not accounted for
Captain Slattery, before leaving for
the Chicago meeting, said This is
simply an annoyance intended to draw
off my attention from matters which
are intended to protect the integrity of
large interests of Judge Henry d.
Laughlin in Chicago. The interests l
refer to are those of the American Brake
Beam Company and the Chicago Rail-
road Equipment Company. In the for
mer l also represent large holding of
shares. AS regards the Merchants Ele-
vator Company, there is and can be no
misunderstanding at all, except in the
Imagination of Judge Laughlin.
owned for myself and family about SO
per cent. of the Merchants stock, and
as far as any single act of my admin
istration is concerned, 1 would gladly
let the whole world know of it, A rigid
investigation is all 1 ask. NOtwith-
standing losses of $35, 900 in the .disap-
pearing Of grain which 1 am unable tC
account for, we returned our share
holders no less than lis per cent. or
their three years investment of $4,000
At tho time we sold out, first mortgage
bonds to the amount of $780, 900 wer'
held by the Continental National banl
as security for a loan Of 100000. Whel
we ceased to do business, the banl
called for payments. 1 then advanced
the requisite sum to the company ant
the bank was paid, the company Civ
ing me the bonds to secure the none.
1 loaned. At that time the elevator Sc
curities were slow of sale and l had t.
hold them a year or so before 1 coul'
dispose of them. When ] did so, the.
were charged to me to offset the loan
In the books of the company l am no
only charged with the bonds, but wit
the interest on them to the full eXten
up to the day of the sale. The sun
thus charged against me is $1l2 1864.