Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-02-29
Mp LANES Il. BARTON.

,ovc I'm circulation regarding his business
aT,irs The councilmen said some OF
the publications regarding the cohdl'loh
i'm which Mr.. Barton had left ms pusl-
moss were. SO far as they could learn'
realty exaggerated. and the Dispatch
,,,s renuested to make this statement 10
the public. ..t, =,
tine receivers OF Mr.. Barton still de-
cline to discuss his affairs. II is KNOWN
however. that the most of that gentlc-
mans collateral is held by the FIRST
National Bank. the National Bank OF
Virginia. the Richmond Perpetual Build
inc and Loan Association, and the olI
Dominion Building ana Loan Association.
These institutions claim that they are
amply secured and that they VIII not
lose dollar At the National BANK Oh
Virginia the cashier stated 10 a DlspatCn
-anorter that that clearinghouse ned
very Httle OF Mr.. Barton's paper, or OF
that Of his land purchasers ana that the
matter had given his bank no concern
v.batevar. Hon William Lovenstein.
cashier Of the Richmond Perpetual Build
ing and Loan Association. declined 10
discuss Mr.. Barton's business with MS
institution further than To say that ms
ossociation was fully secured for ali tho
money it had loaned the suburb founder.
When Hon. ]. Taylor Ellys0n, president
If the Old Dominion Building and Loan
Association. was approached he said MS
company had only loaned money upon
Barton Heights upon original deeds OF
trust. and was safe from any losses
which might occur.
no DEFINITE INFORMATION.
While estimates made by persons In
a position TO know much about the situ-
alton at the Heights go to show tnat
Mr. Barton must have received great
deal more money than ne has paid out
during the seven years OF his residence
here there is nothing absolutely certain
I'm this connection He has founded ana
built there a town now containing about
80 houses and 900 people and the result
Of his Iabors will be felt for generations
TO come. whatever may be the result of
the present complications. According 10
figures made up approximately yesterday,
Mr. Barton ought to have made about
SUO.G0, or more. since he came 10 this
city In 1883. The land he purchased was
the kerster prOperty-twenty-three
acres-and the Roberts tract, embracing
what was then known as the haunted
house. Ii cost him about $4,000. The
buildings he has put up have cost APP
proximately. 100000. An estimate of his
other expenditures, Is given, as follows:
Bridge, 5000; Water-works $ltS0;
streets. $1,000; street railway, $500; cost
Of his family, $1,000 $4,000 per annum;
office expenses, $4,000. Total, Sj9l5CO II
is claimed that Mr. Barton's transac-
tions will show that In those six years
he has received in money and notes COM
bined more than 5000 and that before
he failed he owed Slg7 90. making an ag
gresate OF $4,000 which, with his total
expenditures OF Sj91 would still leave
a balance Of $4,000. or course, it is not
contended by those giving these figures
that they are anything more than esti-
mates, but the impression Is that Dir.
Barton should still eaye a large sum left,
if he can realize on his investments
and securities. IL is stated that in many
cases where notes have been hypothe-
Gated by MIR. Barton. the f9ee-value Of
the collateral exceeds the amounts Of the
Indebtedness.
ABOUT TWENTY-FIVE AFFECTED.
IL was said upon Barton Heights last
night that about twenty-five property
holders on that suburb were apprehen-
sive, either that they did not have a
clear title to their lots, or that by rea-
son OF paying notes and simply taking
Mr.. Barton's receipt for them, they
would have TO pay twice. and. possibly.
I'm some cases. three times for their pro-
perty. Those persons who have so set
tied their obligations with MIR. Barton
do not seem TO know whether Mr. Barton
has discharged those Obligations at
the banks or not. As they have
never received notices from the
banks or individuals holding their paper,
they have no idea. in many instances,
where their notes are.
on the day that Mr.. Barton made an
assignment he entered OF record fifty
deeds OF bargain and sale for lots sold
by him. Inquiry failed to establish that
the titles to these pieces Of property are
not clear. The home of Nr. Barton, which
has been placed In the deed OF assign
ment, Is subject TO a deed OF trust held
by Mrs. Julia Schultz sor $40 900. This
lady was also creditor in the second
class for $500. Her claim against Mr..
Barton is for $l.SO0 and. besides a first
mortgage on Mr. Barton's homo property,
she holds certain lots and notes OF pur-
chasers OF Barton Heights real estate
amounting to Ni,So0. Her daughter. Mrs.
Cordelia a. Carter. loaned Mr. Barton the
sum Of $1,000 without security. and stiii
holds claim for that sum against MN.
II Ia stated by Mrs. Schultz that she WIZ
not lose more than 5000 at the outside