The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-05-20
K'INTYRE IN THE Tolls
His Partner, j. Il. Harris, Has Made
Good His Escape.
PLAN ON WHICH THEY WORKED
Mcintyre Represented n Concern Whose
Charter Expired Twelve Years Ago
and Harris Ono That Became
Bankrupt Last December.

w
surance Company. w. j. Mcintyre. local
secretary" Within the building McIn-
tyre has an equally modest Office. which
has been visited by a large number of
persons during the week. Some were
anxious to pay him money others were
much more anxious to learn something
concerning money that they have been
paying him for months past.
Very few of these callers We're able
to even catch glimpse of Mcintyre.
He called occasionally for his mail, but
remained only a few minutes, and even
his landlord. to whom he Is indebted
for two months rent, saw him only at
intervals.
To add to his troubles Mcintyre was
arrested on warrant issued by Alder
man Fuller. at the instance of Chris
tian w. Coleman. of Linden street, who
charges him and q confederate named
j. Il. Harris with conspiracy and OBJ
tanning money under false pretences.
Mcintyre was arrested by Patrolman
Moir and given a hearing, at which
Alderman Fuller held him In $500 bail
for his appearance at court. He was
unable to furnish bail but after spend
ing a night in the station house in
South Side, to become his bondsman,
and was thereupon released. His home
is at 6SS East Market street.
Harris Has Disappeared.
j. f. Harris. who appears to be Nc
1ntyre's superior officer in the alleged
fraudulent transactions they have been
carrying on, succeeded in eluding the
officers and left for Philadelphia with
his wife. In the Quaker City all trace
of him was lost. and his present where
abouts is unknown. He represented
himself as the general agent of the
Columbia Loan and Investment COM
pany, of Washington, D. c., which he
worked in conjunction with McIntyres
Industry Savings and Life Insurance
company.
About six months ago the latter be-
gan to do business for the Industry
company and inserted an advertise
ment in the local papers Offering to
loan money to members of the COM
pany for per cent interest with terms
of payment so easy as to suit anyone.
Among those who applied to him for a
loan was Chester Cammer, of Sumner
avenue. He was told that he would
have to buy certain number of shares
of stock to become entitled to the loan.
and pay $40 for entrance and counsel
fees. Later he received notices of as
ssssments of his stock, but the loan
never materalized, and has not to this
5-ly- oil oh hn
many months ago. In the meantime
Mr.. Cammer has paid about $50 to Nc,
Intyre, without realizing one cent. He
will start tomorrow for Philadelphia to
interview the officers of the company,
and make an effort to recover his
money.
1t Is said that there are large num-
Der of persons in the city who have
had an experience similar to that of
Mr.. Cammer. Others purchased the
stock as an investment and have been
making monthly payments on it for
some time.
What the Philadelphia Press Says.
A recent issue of the Philadelphia
Press contained an expose of the opera
tion of this company in Philadelphia.
Among other things the article in ques-
tion said:
Lorin Chambers, who is now under
indictment in the United States district
court in this city, charged with using
the mails for the purpose of defrauding
in connection with the Central Trust
company, 1340 Arch street, who was
tried and indicted for a similar Of
T., int
ord as an organizer or member Of COM
panies and corporations suppressed by
authorities for doing illegal business
has made him notorious, has launched
another venture in this city called the
Industry, Savings and Life Insurance
company"
This company has very unpretentious
offices at 1922 Walnut street, on the sec
ond floor. 1t advertises that it's spe-
cialty Is loaning money to it's share
holders. So far as can be learned It does
not aim to do business In this city,
but seeks to transact its work in small
country towns. A very seductive ad-
vertisement has found its way into
some of the country papers, which says:
"Our system affords an opportunity to
borrow on either personal or real es-
tate security. The plan is superior to
building and loan associations. The
amount borrowed may be returned in
monthly payments without bonus with
interest at per cent. per annum" 1t
Is signed rs. s. Robertson, president,
1922 Walnut street, Philadelphia"
Claims to Have Perpetual Charter.
The Industry Savings company al
leges that 1t has perpetual charter,
.ytt ri
der the old law. 1t Is stated that 1t
state Legislature in 1868 It originally
did business in Pittsburg, but for some
years went out of business A few
months ago 1t took new lease of life.
Lorin Chambers undertook the work of
reorganization in this city and q very
enticing prospectus was sent out. This
prospectus states that the officers of the
company are s. s. Robertson, president;
Frank A. Bailey, secretary, and Melvin
II. Campbell. treasurer. All of these
live In Plttsburg. Chambers name does
not figure In the company at all, but
he is said to be large shareholder.
The prospectus places the capital
stock of the company at $1,O00,000, made
up of 10000 shares at the par value of
$50 each. According to this little pam
phlet every individual applying for a
loan Is interested and a part owner.
They share the profits and have voice
in the management" The system OF
borrowing Is then explained. First,
those intending to borrow must become
shareholders of the company. To do this
they sign an application for the number
OF shares they wish, at SIS a share, al
though $50 is the par value. $3.50 per
share to be paid in cash and the rest
as often as assessments are made under
the bylaws. which Is as often as the
directors see fit.
A glance at the bylaws shows how
absolutely an investor is at the mercy
Of the directors. According to Article
Nv, the stock is Of two kinds, full paid
worcestershire stock and assessable
stock. Section as follows:
They Can Water the Stock.