The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-27
JOHNSON's sPECULATIoNs.
Sunk About 100000 with j. n. Huston
In Phosphate Deal.

Little by little light is beginning to be
thrown upon the question Of what became
OF all the money that Johnson got away
with. At LOganspOrt yesterday afternoon
Bank Examiner Caldwell found in a private
box in the vault of the wrecked State Ma
tonal Bank some private correspondence
belonging to eX-President John F. Johnson
which throws some light on the channels
which absorbed the missing money John
son was interested with ex-United States
Treasurer j. N. Huston, of Connersville, in
a phosphate bed in Virginia, and the loss
in this direction will probably amount to
100000. The ex-banker was also an extern
sive investor in oil and gas land leases near
Gas City, but just what sum was sunk in
this enterprise is not known. His dealings
in Colorado and Wyoming mining stocks
swallowed up another big sum, the precise
amount of which the bank examiner at this
time is unable to determine Heavy losses
were made in wheat speculation in Chicago
and Toledo bucket shops" and boards OF
trade.
Notwithstanding these losses the absolute
GOODNESS with which he has met the charges
brought against him, and the certainty of
the prison fate that awaited, has led to the
steadily-growing suspicion that he has laid
away tidy sum to which he can refer
in the years to come after he has earned his
liberty behind prison walls.
Bank Examiner Caldwell says: There
are many circumstances in connection with
the case which lead me to the conclusion
that Johnson has not gone out of this thing
empty-handed. He is not a fool, nor yet
is he ignorant of the power that a few thou
sands, laid away in safe place. will bring
to him when he is done with his term in
prison His perfectly astounding nerve I'M
der any and all circumstances, and in the
most trying situations, as for instance when
he faced me on the day l accused him of
forging over 100000 worth of notes, and
calmly admitted, Yes, L did it,, has con-
WINGED me.
JOHNSON'S CAREER.
At the age of seventeen Johnson was a
bookkeeper in his fathers employ buying
grain. His grandfather. Israel Johnson
was a pioneer in business in Logansport
and was strictly honest in business. But
it was in Israel Johnson that the seed of
speculation was sown, took root and flour
ished. Israel Johnson speculated in pork
and, although he was wealthy, so far as
appearances went it develops that he died
leaving 100000 of debt. representing money
lost in speculations in pork
His son, William Johnson, the father of
John r. Johnson struggled along for years
with this load on his Shoulders and it was
finally shifted to the son when the father
laid it down at his death six years ago.
was something like $l35. 900 of incum-
brance on the estate, which was only con-
sidered to be worth 100000 at most. The
son was ignorant Of the incumbrance until
the death of his father in 1891. when he was
appointed administrator. He was con-
fronted with the wall of debt, and deter
mined to tear it down, that his father 5
name should be kept unsullied.
In his early manhood John f. johnson be-
gan to dabbe in wheat through the bucket
shops. He finally retired, so it was thought,
when he left the ring with $4,000 in his
pockets. He was then clerk IN the bank
which he finally wrecked. His father
learned of the transaction and made his
son promise never 10 gamble In wheat
again.
He rose from clerk to bookkeeper. then
cashier. AT his fathers death he was elect
ed 10 the presidency of the bank and the
beginning of the end had come From the
time that he held the reins of government
of the banks affairs in his hands he set