The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-06-29
COLUMBIAN BUILDING SOLD
Goes at Sheriff's Sale This Morning
for $685. 800 to Eastern Parties.

494 dpOaosOOO 10 l4tl1 lC4A4 x III lies
The Columbian building was sold at
sheriff's sale this morning and brought
$4,000.
John A. Mead of Rutland, Vt. bought
it and paid SAT, 900 in cash for it, S45, 600
Of which he had in his pockets in $1,000
bills
Just previous to the sale today the
bidder paid a mortgage of $500 held
by VIM. Sims as administrator of the
Murray estate. SO the building actually
sold for $50, 800.
The building was sold under fore
closure OF mortgage There was q first
mortgage Of S46 94S held by the North
western Mutual Life Insurance COM
pany. The second mortgage amount
ed to $5,52l and was held by J. b. Lari-
mer. The third mortgage bonds in
amount S11, COO. with interest making it
over S13, 900, We're held by the State
Trust company of Rutland Vt, of
which Mr.. Mead is president.
w hen we bought these mortgage
bonds" said Mr.. Mead. we thought
they were first mortgage bonds. When
/ got here Saturday and found out
that they were not / bought MI. Lari-
mer's claim, the second mortgage
bonds, though I did not give their face
value for them did that this morn
All Of the mortgages We're foreclosed
simultaneously.
A large crowd congregated at the
court house this morning to see the sale
Most of the people present were law
yers.
Several people thought of bidding on
the property, it was understood, but
they were headed off.
II shall object" said Mr.. Mead, ito
any one bidding who has not the cash
as required by law, and I announce
myself ready and willing to put up
SIS, 600 in cash before bid
Il wish it understood said Sheriff
Kepley, that no one viii be allowed to
bid that has not the cash to pay and
q deposit must be made of $25,000 to be-
gin with
There We're only two bidders.
L. S. Ferry represented Mr.. Mead and
his trust company and Aaron Jetmore
represented the holders of the first
mortgage bonds.
Rlr. jetmore started the bidding at
Forty three thousand dollars said
sForty-fve thousand dollars said
Mr.. JetmOre.
.Forty-six thousand dollars" said
..Forty-six thousand nine hundred
and forty-eight dollars said Mr.. Jet
more This was the exact amount OF
AIr. JetmOre's clients claim.
tFOrty-seVen thousand dollars" said
Judge Ferry, and Mr.. Jetmore refused
to bid further.
sold to John A. Mead for SAT OOO."
said Sherif keDley, and ne took the
money up to District Clerk COckereu.
Sheriff Kepley's fee was $24S
The building cost the Vermont COM
pany, with the purchase at sheriff's
sale. the purchase Of the second mort
gage and the loss of the investment
and interest on the third mortgage
bonds, over $4,000.
The building alone when built cost
$4,000, to say nothing of the lots
Mr. Mead was accompanied to To-
peka by n. p. Kingsley, who is a di-
rector in the State Trust company
They arrived in Topeka Saturday and
have been carrying the money around
in their pockets ever since.
How the Topeka footpads will feel
when they read this.
II attended the First Methodist
church last night with the money in my
pocket" said Mr.. Mead. and the ser
mon touched me-almOst for the entire
amount"
Mr. Mead is also president of the
Howe Scale company, the largest scale
works in the world, and several
times millionaire
Il had little deal on something like
this just q few weeks ago" said Mr..
Mead, lin the east, in which I bought
property at sherifls sale and paid
S240 600 cash for it,
mr. Mead does not think Of any
changes he viii make in the building
matter Immediately There viii be
none in the building itself
of course / bought this for the COM
pany." said Mr.. Mead, "but If the COM
pany doesn't want it 7 shall not kick.
III take it myself at that price"