The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-04-07

Inc first intimatiOn we had of the
failure was yesterday afternoon. wher
Mr.. Young received a telegram from
his brother, Will Young, who is the
agent of the Dean company and also
a prominent banker in Indianapolis
Later in the day Mr.. Young wired the
house in New York for a confirmation
OF the report, and the Western Union
Telegraph company informed him that
the office had been closed and was in
| ing THIS telegram another message was
received from Mr.. VIII Young for my
! husband to come on east Immediately.
SIX HUNDRED VICTIMS.
1t is estimated that the Dean com
pany had at least 600 customers in the
| Salt Lake branch. 1t is claimed that
at least 100000 was invested from this
point at the present time, all of which
was said to have been sent on to New
York by the agent here. This amount,
II is said, was made up from remit
tances sent in from customers residing
mostly in Utah and Idaho. Outside of
Salt Lake it is said Ogden, Park City
and Pocatello were very prolific points
for operation.
The company has had branch offices
operating in is other cities outside of
Salt Lake, namely: New York, Indian
apolis, Denver, St. Louis, Dayton, O.,
Columbus, o., Boston, Philadelphia,
Knoxville, Tenn, Cincinnati, Baltimore,
Portland, Me-, Saginaw, Cleveland,
Louisville and Washington.
United States Prosecuting Attorney
Judd was seen yesterday afternoon and
Informed The Herald man that a large
number had called upon him during
the day to see what could be done with
The Dean company. Some wanted him
TO start action against the officers of
the concern for using the mails for
fraudulent purposes.
The Judge stated that he had called
the attention of Postal Inspector Mich
OILS to the matter some time ago. and
an investigation had already begun,
but no report had been received, owing
to other important matters which have
kept Inspector Nichols busy and the
great difficulty in getting a solid basis
on which to found a charge, owing 10
the cunningly devised plan on which
the company operated.
Had il not been for that, the judge
stated, this end of the concern would
have been broken up before this.
Postmaster Barratt was seen, and
when asked>wl1at he knew about the
concern. replied: Il was spoken to a
month or more ago about the concern.
and was then given to understand that
the government was looking into the
matter. You Will understand, however,
chat persons in my position have quite
nOugh to do without meddling in mat
ters Of this character unless they have
special instructions. l have been in
formed from several sources that there
vas considerable money paid into the
concern by those who could ill afford
TO lose. But, then. their money, al
though hard earned, was their own,
and / would not have been thanked for
advice. ! am very much |
surprised TO hear of so many appar-
emily clever men who have expressed |
faith in the concern"
BOOK OF ACCOUNTS GONE
Manager Young was careful to take !
all the books of his office along with !
MIN, so the officers have no way of As
what disposition was made /
Of the moneys received by him.
Mrs. Young declared that her hus-
band had about $3.50 on deposit at the /
Bank of the Republic when he
eft, but on making an inquiry at the
oank President Frank Knox stated that
ne did not have a dollar in the bank,
and had never kept a deposit with
hem. The only transactions Young
had made was simply TO ask the bank
10 forward money to the head of the
concern in New York. which was done
BY means of drafts, and for which the
usual exchange was paid, just the same
Is any individual would do.
A second attachment was made on
he Office furniture from Justice Mar
sett's court, which was levied to satisfy
claim of 5000 of N. ]. Carbis, who al
eyed in the complaint that the defend
Lnts. TIE z. s. Dean Co. and Clark
Young, assigned, disposed and con-
-erted their property with intent to
efraud creditors and that the defand-
mt Clark Young conceals himself so
hat service cannot be had upon him.
Carbis was an investor TO the amount
f 5000.
HISTORY OF THE CONCERN.
1t may surprise some people to learn
hat there is no person named Dean I
with the Dean company in ]
n official capacity. The original F. i
Dean was a woman, and ii is said i
hat she was a typewriter With some !
lale associates, she began operations I
n a very small scale in New York /
ome years ago. Afterwards a corpor- i
ton was formed under the laws of q
ew Jersey and operations were COM [
fenced on a new and larger scale.
HE L. S. INVESTOR "RETRACTs. - /
The United States Investor on Feb. /
'mpany wrote that journal a letter
a retraction. The Investor
by publishing the letter in r
S issue of March 20, with the follow l
& comment:
The E. S. Dean Co, according to its
resident Myron l. Bernard. assert =
at Charles Weinman has no connec- :
on with this business whatever, also
at they are not connected with that q
0nanZa machine known as 'Kellogg's n
arket Register At the present time, i
is statement is doubtless correct, Il
nee we learn that the F. S. Dean Co. r,
now being run by one Sam Keller of ii
lefleld- Ala. fame, and who has just
'ened a sumptuous suit of offices in n
2 Lords Court building, 25-27 Will a
ms street, New York, where the bust ri
SIS of the E. S. Dean Co. will probably
transferred when they can no longer 81
tain money under their present q,
me. Fl
The business of the E. S. Dean Co. | n
Drmerly known as E. S. Dean & Coz, II
Is originally operated, we are told, | OF
J. b. Kellogg and Charles Weinman, al
e Dean of the concern being KEEL a,
IS typewriter, they turning over the
siness TO Sam Keller. who. with the be-
sistance of Myron l.. Bernard and Ed de
Farrand, are now pushing the bust III
SIS. Mr.. Bernard, in his communica-
N to the Investor says, the officers Of
S company are persons Of integrity
d some standing but diligent in -
Try fails to establish the fact that VI
ile Mr.. Demands former record may Sc
We been good, his present position ne
tn the z. S. Dean Co. adds strength IN
his reputation. Sam Keller, as stated iir
ove, was at one time located at Shelf IN
10 n ie1 har Z