The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-05-13
DISASTER OF THE BOOM
Falls Heavily on F. A. Brigham
of This City.
Investment of S15O,OOO in
Boom Property
Which Belonged to the Heirs of an
Estate at Worcester, Mass.,-Mr.
Brigham Lost All His Own
Property as Well as That
He Held in Trust.

alSapprOpr1auOn of $780, 900 of trust
funds is what Frederick A. Brigham of
this city is charged with by the heirs
of Thomas Rice of Worcester, Mass
Attachment suits for something over
this amount were filed against him in
the district court last night, and at
noon today all of the property owned
by Mr.. Brigham in Shawnee county had
been attached.
The suits We're brought by Edwin L.
Rice and Mrs. Edith r. Morgan of
Boston, Mass, son and daughter of
Thomas Rice of Worcester, Mass, ask
TO recover the respective amounts of
$4,000 and $69, 500. These amounts, the
attorneys for the heirs claim, We're
used in speculation by Mr.. Brigham
While in his hands as executor of the
estate of Thomas Rice, and that he
now refuses to make good the amount,
asking the heirs to accept worthless
mortgages and property in satisfaction
of their claim.
Frederick A. Brigham is well known
in Topeka. He has resided in this city
the greater portion of the time for the
past L years, and during that time
has been engaged in the real estate
business He came to Topeka at the
time that the boom was commencing
and bought a large tract of land in
what is now Oakland addition. A pOr-
ton of this tract was bought in con
cester, Mass, in which place Mr.. Brig
ham formerly resided and this land
was plated into lots and entered the
boom" along with other suburban
property as Brigham & Rice's add
ton.
By the time that Mr.. Brigham had
finished plating his addition the To-
pelIa boom was at its height. AdVer-
tisements in the newspapers announced
the establishment of mills and other
manufacturing industries in Oakland
addition. Oakland park was laid out
and the auditorium built, and Mr.. Brig
ham found his lots to be selling rapidly.
But about that time Mr.. Brigham's
partner, Thomas Rice, died in WOrceS-
ter, Mass, and Mr.. Brigham was APP
pointed executor of his estate. Mr..
Rice left a large estate and the entire
funds were by the terms of his Will
placed with Mr.. Brigham in trust for
his children, who were then not yet
of age. OF these funds it is claimed
that he used over $4,000 in speculat-
ing in real estate, and that it would
now be possible to realize but a small
percentage on the investments made
by Mr.. Brigham.
The heirs of the Rice estate do not
question an honesty of purpose in Mr..
Brigham'S SpeculatiOnS- They simply
claim that he was not judicious in
placing the money, and that unless re
cOVery can be made from his bonds
men they Will lose largely from his in
VeStm AS the law provides that
all property must first be realized on
before bondsmen become liable, all of
Mr.. Brigham's property viii probably
be sold and the deficit afterward made
up by his bOndsmen. The attorneys
for the heirs say that the men who
went on Mr.. Brigham's bond as exec
utor of the Rice estate are wealthy,
and that the heirs will lose nothing
by his transactions.
1t is said that Mr.. Brigham was at
one time wealthy, but that he lost
practically all of his money in real es
tate speculation in Topeka 1t is
claimed that during the boom" in To-
peka he sold property on the Install
ment plan, and after concluding the
contract would loan the purchaser an
amount equal to the cost of the prop
erty and the cost of erecting dwelling
house. By far the majority of the
property was never paid for, and in
consequence Mr.. Brigham has now
hundreds of worthless mortgages, while
the property on which they were given
has greatly deprecated in value. 1t
was this class of mortgages and prop
erty that the heirs claim Mr.. Brigham
desired to unload on them in satisfac-
ton of their claim.
Besides the property in Brigham &
Rice's addition, which is now pracl-
caly all owned by Mr. Brigham, he
has property in the different additions
suburban to Topeka. All of this
property was levied on yesterday even
ing and today.
Mr. Brigham was one of the promot-
ers of the Oakland wooden mill, and IS
now associated with w. c. Stephenson
in the real estate business here.