davidaulloa/AmericanStories huggingface dataset:
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30

nOunced as suspended, as soon as
there was any falling off in the amount
of money which came from this state.
lit was then that their schemes We're
suspected. but it took the Investigation
which followed the lamentable crash
of the Sullivan Institution for Savings
to fully develop their plans and meth
DDS
When. as a result of this failure
visits Of investigation were made west
by town and bank officials and by at
tOrneys who We're appointed to exam
inc the condition of certain bank 1unds,
the extent of the rascalaity became for
the first time fully known
Mortgages We're looked up in Chase
and Perkins counties, Nebraska, where
from $500 to ST. 600 had been loaned on
dozens of tracts, the patent to which
had only been given by the govern
ment one, two or three months before
the dates on the mortgage deeds w hen
the investigating parties reached the
place, the sod houses-men had not
lived on the places long enough to trou-
BILE themselves with frame or even lOg
habitati0ns-were falling into decay
and rank vegetation all about told that
the places had not known residents for
many years.
Then inquiries were made as to the
date Of the departure Of the owners,
and it was almost invaria blytound to be
only a few months after the money had
been secured.
In other places large tracts had been
town, plotted off into town lots, and
then money was borrowed on the rate
per foot, which often reached city
prices.
Stories have often been told of men
looking for boom towns in the west
when nothing but vacant areas were to
be found, the stakes which marked the
confines of the town lots furnishings
the only indication that men had ever
been about there, but it is a fact that
thousands Of dollars, saved by thrifty
New Hampshire men, was loaned on
these very lots. and that there is moth
ing now to get in return for them eX-
cept those same lots in the middle Of
prairies which stand their pOssessOrs
about as much as would a good site for
a house in thriving New England vii
lage or town.
The stories have not exaggerated
what New Hampshire people placed
their money i'm, the only difference be-
ing that in these numerous cases the
lots were not seen in time.
Thousands went too, for buildings. A
tWO-story brick structure in a small
Nebraska, Dakota or Kansas town was
mOrtgaged for what it would cost to
erect one five stories high in New Eng
land. Then payments were made
through the bonds of companies and for
years there was always a great de-
mand for these papers. They are not so
much wanted today Scores of thOus-
ands Of dollars of them have been
thrown entirely away by the New
Hampshire bank commissioners IN eS-
tlrnaU1ng the assets OF a bank, and hun
dreds of the ella b0rately engraved docu-
ments today grace the storage boxes
OF many bank
Anything went out there; anything
that could be described on paper The
descriptions were not 50 much on accu-
racy as they were for picturesque fea-
lures, and there is no doubt that they
answered their purpose, so far as salts
flying the loan agents of many New
Hampshire banks went
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
now soHEMEs WE'RE WORKED
DefauIted Interest Paid by Money for
New Loans so Weakness Should
Not be Known.
CFrom the Boston Herald)

New England men generally, remenl-
Der the craze for western Investments
which existed a few years agO.It start
ed when immense amounts of money
were made on expected rises in the val
ue Of land, and from the fact that high
rates of interest were paid on really
valuable pieces of property. Worthy
farmers in need of money and with fer
tile acres would willingly pay from s
per cent up, and the investments were
safe and sure So money from the east
started west
There are thousands of western
mortgages today that are worth almost
par, the depreciation in which is due
entirely to poor crops and hard times.
and which in year or two. or perha ps
I'VE, viii be paid off with interest
Those mOrtga ges have been placed in
good localities by careful agents. who
had some regard for their future, and
they are as valuable as New England
mortgages today, if one can wait for
individuals who hold mortgages on
western property which they know
about are also satisfied. and financial
men generally viii admit that the in
vestments are safe
That not all investment compa MES
are controlled by thieves is also true
Their bonds. while somewhat depreci-
ated, VIII eventually bring par. espec-
tally If the agents have used ordinary
business care and acumen, and have
been honest in placing them
Tt was with the fake. swindlirg com
panies that the trouble originated. and
New Hampshire got more than her fair
share of them and their Investment
schemes. If it were rot for the swind-
ling companies. it lis pr0ba BILE that
each depositor would receive dollar
for every one he placed in an institu-
ticn ia the proper time
The sang which sprung up in the
west, Immediately after the craze in
the east for investments in the former
territory sprung up. was not confined to
any particular class Of territory.
They annuOnced themselves as agents
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
WANTED INTEREST ADVANCED
How the Land Sharks Further Forced
Money From Their Victims.

(7rom the Boston Herald.)
When it came to settling up for losses
and commissions. the banks which had
lost announced to their agents that they
would take the papers in the different I'M
fortunate cases and try to foreelose in
some, or effect some sort of a settlement
ia others. No, said the sharks. there IS
an account stin due US 1t is for interest
we advanced when the borrowers de-
faulted. And, Notwithstanding that
money going in for new loans, and that
they had done this for the purpose of
keeping confidence in New Hampshire
and thus getting more money. the banks
were stin further compelled to make pay
ments, in order to secure the papers
which showed that they had made loans.
They suppose the interest paid was one
of the few sure things they had found
from their investments in the west, but
when the time came they had to pay out
more money to establish a clear title to
the evidences OF loans The agents held
the papers in hundreds of cases and they
would not give them up until they were
satisfied
This meant simply little added ex-
tortion. 1t meant little in Individual
cases, but in the aggregate is decreased
the deposits of the New Hampshire citi-
zens heavily. and helped make the suf-
fering that has prevailed since the boom
in the west went up.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
ROBBED BY THE STATE.
University of Alabama Claims it was
Cheated Out Of 2 Millions.

Montgomery Ala, Nov. 3o-James
II. Fits, the treasurer of the University
of Alabama, for 30 years past. has adj
dressed the general assembly and de-
manded that a showing be made, to the
Institution for the money due it by the
state. MT Fits proved conclusiveiy
that the state had confscated within
the past half century moneys accruing
from the sale of government grants to
the institution, aggregating with inter-
est 81, 0sO, 600 The state was the trustee
Of the funds and used them in paying
it's own obligations. 1t pays the uni
but up to this time has declined 10
make any showing for the balance Mr..
Fits, who is a banker at Tuskaloosa,
is backed up in his demands by a
strong lobby of the alumni The uni
versity is willing to offer the state a lib
eral cOmprOmise.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
OPPOSES HEBREW SUNDAY.
DR. Hirsch Says the Seventh Day Ira
dition IS Doomed

Chicago, Nov. 30.-Dr. Emil G. Hirsch-
the leading rabbi of the west, saws
there is no further need OF
sabbath. He declares that the seventh
day tradition Oh tLe race Us aA..ail.,,.-
up in the necessity of adapting the re-
ligion to the customs of the country ir
which we may be transplanted 1t has
thus come to pass, as DR.. Hirsch puts
it, that the New York Hebrews look
upon the Chicago Hebrews as barbar-
ians.
There are no congregations in the
east" said DR.. Hirsch. chat do not
have services on Saturday, and only
one in the old country-one in Berlin.
1t was agitated in my congregation
during the ministration of my prcde-
cessor, but the change was not COM
pletely made. He tried the plan Of
holding services both on Saturday and
Sunday DR. Kohler went east and was
hypnoUzed by the orthodox element
He said the greatest mistake Of his
life had been the advocacy of Sunday
services. They have not a congregation
down there Which does not Try to keep
up the custom. despite the fact that tire
rabies have hardly any one TO preach
to- and those that they do have are
principally women.
THE Jewish Saturday Sabbath is
domed. It is like a good many other
traditions-more fascinating the furths
we get from them. Ny congregation
accepts the change without any loss.
making the Sunday afternoon the sea-
son of the family reunion, exactly as
did the people of old the afternoon of
the seventh day
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
RUSH FOR WESTERN LOANS.
How Popular Craze of a Few Years
Ago Brought About Ruin of
Granite State Banks.
From the Boston Herald.)

In 1898 the state of New Hampshire
reached its maximum limit in the
amount of deposits in savings institu-
lions. In round numbers the amount
was SIS. 600 600, the fifth in money Of
any state in the union, New York. Mas
sachusetts. Connecticut and California
only exceeding it. The importance Of
this can be estimated by a. comparison
in population with those and other
states. The amount per capita deposit
ed in the banks of this commonwealth
was the largest of any state by far, and
the records Of the savings Institutions
generally made a most excellent show
ing for the people of the state, their
wealth, frugaHty and earnestness.
Things are far different today, and
the responsibility for the difference in
the state of affairs can solely be placed
at the doors of the swindling schemers
of the west. Unfortunate investments
is, of course, the excuse for many losses
They are nothing as compared with the
actual thefts which have been going on
from this state for several years. Other
communities have suffered from poor
investments, and people generally have
lost money by l0aning on unworthy
property With New Hampshire it
has been different. No community
no state, no institutions ia any other
region have been made the victims of
land sharks as has the state of New
Hampshire.
The story Of unfortunate losses is
not a new one. that of the lootina as
banks has never before been told As
bank after bank along the Connect
cut river Went to the wall few months
ago, the word was usually sent forth
that the old trouble so often referred
to. poor investments in the west" was
the cause. When. however. investiga-
ton was made of the situation. things
began to look differently in regard to
those Investigations
Omcials intrusted with the care of
looking into the matters asked bank
men how they happened to get hold
Of such paper as they presented. and
il was reported that it came from this
er that Individual or company. and
that they thought it was good.
When a half dozen banks along or in
the vicinity of the Connecticut river
had reported large dealings with one
man which almost always proved alb
solutely- worthless. This individual was
looked up, and with him We're certain
of the companies which had been an
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30

Arkansas City, kan; Kansas City In
Vestment company Of Kansas City. Mo
Kansas Investment company of Tope-
ka kan; Kansas Loan and Investment
company Of Wichita. kan; KansasL0an
and Trust company of Topeka. kan.
Kansas National Loan company of
Wichita, Kan; Kimban & Champ In
vestment company of Council Bluffs,
Ia; Lewis Investment company of Des
MoineS. La, Lombard Investment COM
pany of Kansas City. Mo; Muscatine
Mortgage and Trust company of Mus
catine. Ia; National Mortgage and De-
benture company of Boston; Nebraska
Loan and Trust company of Hastings,
Neb.. Nebraska Farm Mortgage and Sc
curity company of Weeping Water, Neb-
Ne0desha Savings Bank Of NeOdesha.
Kan: New England Mortgage Security
company of Boston; New England
Trust company of Kansas City. Mo.
Ness County Bank. Ness City kan;
Northwestern Guaranty Loan company
of Minneapolis, Mimi; State Bank os-
borne, Osborne, Kan. Security Invest
ment company OF Cawker City, kan:
Security Loan and Trust company of
Casselton, Oak; Security Loan and
Trust company Of Des Moines. Ia; Sho-
walter Mortgage company of Yelling
ton, Kan. Texas Loan agency of Cor
sicana, Tex; Topeka Investment and
Loan company of Topeka, Kan. Union
Investment company of Kansas City,
Mo. Union Loan and Trust company
Of Sioux City. Ia. Union Trust com
and Trust company of Pierre s. d i;
Western Loan and Trust company Of
Topeka, kan; Whipple Investment
company of Kansas City, Mo; Winfield
Mortgage and Trust company of Win
field. Kan; Winner Investment com
pany Of Kansas City, Mo
How the money flowed into these con
Germs when they We're in the full flush
of SUGGEST How the savings banks of
New Hampshire struggled in the past
three or four years to get it back
Into one Kansas town went enough
money, it is stated, to build a big city
almost al large as New York, one
banking man said tonight-and not one
half Of it went to the borrowers on
farms. 1t was sunk on house lots on
the prairies; it was used up as commits
sions; when times became bad it was
used to pay interest where the unfOrtu-
nate farmers or scheming pre-emptOrs
had defaulteds some of it was never in
tended and never used for loans, but
went to sWindlers as a part of their
spOilS. the only return for it being elab-
OFaLely gotten up debenture bonds. Ger
tificates of stock, etc. The money got
out there, however, and il gives promise
Of remaining there until such times as
in the progress of events and the devel-
Opment of the country it may in a cen
fury bring some return to the invest
OrS. These companies played an impOr-
tant part in the losses OF today. how
ever, and therein comes the Importance
of the extensive list of failed compa-
MES.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
ONE GREAT CAUSE Of FAILURE
Long List of Failed Companies Partly
Responsible for Downfall of Banks.

(Fron the Boston Herald)
Here is one cause of the failure of
the many Institutions Tt is a marked
feature Of the bottomless pit into which
the millions were thrown when the
money went from the east to the west.
A few years ago the west was Hooded
with sO-called investment companies
All those in the accompanying list were
not dishonesty conducted, but some OF
them were. and in all of them different
ones of the failed banks held stock,
bonds or securities. None of them is
doing business today. and their fading
away is responsible for the disappear
ance Of a large amount Of depositors'
money. They were a part Of the gener-
al scheme.
American Investment company of
Boston. American Investment company
gage and Guaranty company OF Frank
lin Neb.; Arkansas Loan and Trust
company Of Little Rock, Ark; Anglo
American Land and Trust company Of
wichita Kan. Buchanan Mortgage
company of Minneapolis, MINI; Bun
nell & Emo Investment company of
Wichita, Kan; Cass County Bank of
Casselton, Oak; W 3. Clarke Invest
ment company of Minneapolis, Mimi;
Central Dakota Mortgage company of
Huron. S. d.; Dakota Loan andSecurity
company of Clark, Oak; Dakota Loan
and Trust company of WATERFOWL, s.
D., Dakota Mortgage Loan Corporation
of Boston, Davidson Investment COM
pany of Wichita, kan; St. Davidson
Mortgage company of Wichita, Kan.i
Equitable Mortgage company of KAN
sas City, Mo; Farmers Loan and Trust
company of Anthony. Kan, Farmers
Trust company of Fargo, N. D: Cos
sard Investment company of Kansas
City, Mo- Jarvis-COnklin Mortgage
Trust company of Kansas City, Mo.
Johnson Loan and Trust company Of
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
ASTRIDE A SMALL DONKEY.
A Six Foot Brooklyn Man Will Ride
Across the Continent.

New York, Nov. 3O.-Astride a dimin-
utive donkey r. Pritchard Woodward,
young Brooklyn man, six feet six
inches tall. left the Hotel Bartholdi.
bound for San Francisco. 1T is not be-
cause Woodward IS particularly infat-
uated with this sort of a steed as a
mode of rapid transit that he makes
the trip. but because Of his lack of good
judgment in matters politically, which
he partly confesses by the title of
some photographs of himself and steed
which he has labeled: 1.-The Two Don
keys"
Woodward and Benjamin Lillard. a
publisher at los Fulton street. were
passengers together on an Atlantic
liner, just before the election, when
Woodward offered the bet and Lillard
accepted.
1t is stipulated by the conditions Of
the bet that Woodward must pass
through Canton, o.. and call on Major
Mckinley. From there he is to go to
Lincoln, Neb., to pay a visit to Mr.
Bryan. NOn-Ob observance of either of
these conditions viii cost Mr.. Wood
ward $500.
woodward leaves the city penniless.
He must make his way to San Francis
co. within a year and must earn his Ifv-
ing as he goes. He expects to reach
san Francisco in eight months Should
he not get theer in II months he Will
be compelled by his contract to forfeit
a stipulated sum of money.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
IOWA OUT OF CASH.
The State Owes $45O,OOO More Than
it Has Money to Pay.

Des NIoines. Ia. Nov. 90.-A state
nent has been issued which shows that
Iowa has $3.50. 600 outstanding warrants
for which there is no cash in the
treasury. The state officers say they
are powerless to meet the situation,
and the unpaid warrants may reacn
s700 eco The situation is due to the
slowness of tax payments, and too low
a levy to meet expenditures.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
In trea sury In cir
Mi11fR latlOl


AggTe8aTe -, . I.7V - Y =
The total stock, therefore. is 81, 34s BIS, 51 t.
as compared with 81. 1893, f046S8 on June 30,
1885 Since the close of the fiscal year
this loss has been fully recovered, chieI ~
by the Importation Of gold The net pro-
ceeds of the national bank notes redeem
ed during the year were slOs.syl u25. the
years. and with the exception Of three
years the largest since 1879. The expense
TO the banks Of redenptions VIII be llziS
per 81 600. The appendix to the report
contains a number OF new tables. which
win be found exceedingly valuable to
persons specially interested in the nm
anciaI affairs of the government
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
TOPEKA FIRE ALARM KEY.

81 Morse and Jackson Streets.
- Kansas Avenue and Railroad Street
sc Gordon and Taylor Streets.
= Laurent and Harrison Street
IS Grant Street and Topeka Avenue.
40 "A" Street and Topeka Avenue.
= Kansas Avenue and Fourth Street
ID Kansas Avenue and Second Street.
IA NO. I Fire Station.
*15 Monroe and ki0us Streets
@16 Kansas Avenue and Garfield Street
II Kansas and Tenth Avenues.
is Kansas Avenue and Thirteenth
Street.
10 Kansas and Euclid Avenues.
q Crane and Adams Street.
% No. . Fire Station
q Lake Street and East Sixth Avenue.
q Fourth and Branner Streets
p Seventh and Holiday Streets
26 Eighth and Madison Streets
q Tenth Avenue and Sac and Toy
2S Seventeenth and Jefferson Streets.
% Third and Monroe Streets.
81 Sixth and Topeka Avenues
81 Sixth Avenue and Clay Street
80 NO 3 Fire Station.
"a Western Avenue and Ninth Street
80 Tenth and Topeka Avenues.
SO Fourth and Taylor Streets
81 No 4 Fire Station
3S Twelfth and Taylor Streets
80 Van Buren, and Eleventh Streets
Al Van Buren, and Twelfth Streets
~ Euclid Avenue and Buchanan Street
43 Thirteenth and Lane Streets
As Eleventh Street and Morris Avenue
As Seventh and Lane Streets.
AZ Topeka Avenue and Third street.
81 Quincy Street north OF Crane Street
50 Eleventh and Monroe Streets
90 Tenth Avenue and Lawrence Street.
81 Fourth and Lafayette Streets.
121 Klein and Seward Avenues
123 40S East Sixth Avenue, BUS Barn
1914 Euclid and College Avenues.
Boxes north of river.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30

Gypsy Queen Baking Powder never
fails to make fine. light cake bread
and pastry 1t is free from lime al
um. ammonia and other impure sub
stances. therefore does not produce a
priced baking powders are almost Ger
tain to do.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30

Shirts. collars and cuffs Numbered
to look like new by Peerless Steam
Laundry. I12 and la West stn. st.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30
WESTERN MEN
ARE ACCUSED
Of Swindling Operations in
Handling New England Money.
Boston Herald Gives an Ex-
haustiVe Review
OF THE BANKRUPTCY
That Befel Twenty-Five New
Hampshire Banks
That Held Too Many Worthless
Mortgages in Kansas.
OF THE BANKRUPTCY

Herald Of November "a It purports to
give the New England view of western
investments. and is manifestly one
sided. What is needed in this country.
however, is a thorough understanding
between New England and the West in
relation TO the financial disaster that
overlook US both as a result Of the
boom. and the Herald's article should
be read in Kansas and every other
western state in which eastern money
has been invested. The State Journal
VIII later on make statement from the
standpoint of our own people. Below
we give the Boston Herald's various ar
ticles with headlines.
MILLIONS SWALLOWED UP.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30

Month by month the announcement
has come from the Granite state that
savings bank has been enfoined IT
got to be almost a popular byword that
New Hampshire depository had
gone up" but few realized except
those in public life the extent to which
the savings of the poor had been given
UP to sWinding schemes and mistakes.
none have known but those personally
interested OF the losses sustained by
the unfortunate depositOrs while the
sumeriugs which scores have been com
PEELED to undergo haven't been told Of
beyond the circle of a number of ear
nest friends and the officers of the poor
Of the various towns.
All this. however. is not the result of
criminal transactions at the banks
Treasurer Abbott of the Dover Five
Cent bank preferred to face death
rather than the officers OF the law
Treasurer Olcutt of the Charlest town
bank found rest in another world soon
after the failure of his bank while
Treasurer FarWel of the Claremont
still travels in Europe. seeking health,
in preference to standing before out
RACED depositors and investors and ex-
planning where all the money has gone.
Other officials have had the courage
to maintain a bold front under most
distressing circumstances and hold up
their heads as innocent of any inten-
ton to wrong. and there is not the
slightest reason to doubt their limo
cence, but back of them back of the
losses to the poor people and back of
the suffering and trouble stands the
excuse unfortunate Investments
That. however. is not the only ex-
cuse. although the second one is whis-
pered only among small number who
have watched the failures. one by one
who have seen the Crum bling Of one
strong institution after another and
who have found occasion TO ponder and
question all the appalling exhibitions
of affairs
They have found dozens Of honest Of
ffciaIs at the head of all the institutions
that have gone down in the chaotic
ruin that has spread over the state.
md they have seen firm men, whose
word could not be questioned in any
private transaction. but who grasped
at the peculiar allegations of strange
men, who trusted the word Of UNI
worthy settlers. who became a mark
for the swindlers of q vast territory
when these schsmers found state
where idle statement and misrepre-
seuta ton would be accepted as facts
And that is where fully one-half OF
the responsibility of the failure of New
Hampshire savings banks can be
placed The IOoring schemes Of organ
lied bands of men who took up resi-
dence in the far west and simply
asked for money, knowing that wnen
they borrowed it for the purposes they
did il would never he replaced.
1t is an interesting chapter in the
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-30

The finest IN the west Come and try q
J. ". PHILLIPS. e12 W. Eighth Ave