The representative. [volume] (St. Paul, Minn.) 1893-1901, 1898-08-24
NuEgets of Prosperity.

NAOSN7A
House company has filed a deed of assign
ment to ]. Hartwell Cabell. attorney. The
assets are named at 100000 and the liabili-
ties at 100000. This assignment was fol-
lowed by the individual assignment of Hor-
ace Dunbar, president of the company and
manager OF the hotel. His assets and la
bilities are placed at $500. No cause is
mentioned for the failure and no prefer
ences are given. The Gibson House is
among the oldest and largest of the lead
ing hotels Of the city
MILWAUKEE,, Wis, July 26.-Upon ap-
plicatiOn of the Central Trust company, of
New York, Judge Seaman today appointed
Herman Erb receiver for the Appleton
WaterWorks company of Appleton, Wis.
The Central Trust company holds a mort
gage of 100000 against the waterworks
plant and failure to meet the interest on
the bonds is the cause of the action.
Judge Hanecy issued a temporary injunc-
ton yesterday on the petition of the trus-
tees of the st. Johns Evangelical Luther
an church of Harlem. restraining tbs
sheriff from selling the church property t I.
satisfy judgment. The judgment wa,
secured by Attorney Robert A. Childs on d
note for $500, given by the church to 4 n
drew Christian Schmidt in 1895. The n tie
has caused the church a great deal Of
trouble since the death of Mr.. Schmd, in
1886. Wilhemenia Schmidt, his widow
claims to own it, although the note was
found in the possession of Mrs Nina Carey,
who asserted that it had been given to her
by Mr.. Schmidt. The matter still fur
Their complicated this spring by the trans
fer Of the note to ATTORNEY Childs.
MILWAUKEE,, Wis, July 23.-The more
the affairs of the Home Building and Loan
association are probed the worse showing
they make. The latest developments are
alleged to put the directors in almost as
bad light as the defaulting secretary.
The directors met this morning and de-
cided on A. w. Hard as receiver. He was
appointed on the application of President
Wechselberg, of the association. Mr.. Wech-
selberg set forth in his petition that the
association had capital stock of $5O,OOO
and had been in existence for 10 years. He
said, further, that the association had con-
tracted debts to the amount of over $50, 600.
while the assets would not amount to over
$35, 600. The bond Of the recever-$10 600
shows clearly what the assets are believed
to be, while the liabilities seem to be grow
ing all the time. According to what can be
found in the books there is total of about
$4,000 in paid-up stock and over $4,000 in
running shares. on which something has
been paid. There are also mortgages to the
and thus brings the assets up to something
like 100000. AS matter Of fact there is
not over $4,000 in sight. The remainder
seems to have disappeared under the weird
financial management of John Harvey
Myers.
AS usual in such cases, the losses will fall
most heavily on the poorer classes, which
took this way of saving. Stories are COM
ing to the surface Of persons who have lost
the savings of years--all they have In the
world. One man is said to have turned
over to Secretary Myers $500 only short
time ago. so good a thing did he think the
Home Building and Loan Association to be-
MARSHALLTOWN. Iowa, July 23-At a
meeting of the stockholders and directors
OF the Commercial State Bank today to
hear the report OF State Bank Examiner
Walters, it was decided TO appoint a re-
ceiver to wind up the affairs of the bank,
and William Andrews was appointed.
The bank was found to be in worse con-
dition than was anticipated. The liabilities
including capital stock. were found to be
Sill, 349 25 The assets the examiner consid-
cred good are only $4,000. The assets Of no
value were estimated at $6S,0O0, The stock
holders will lose every cent they have in
vested and will have to put up about $500
additional.
Big Suit Against II. A. Rust.
CHICAGO. July o..-Ths Massachusetts
Life Insurance Company Of Springfield,
Mass. began suit IN the circuit court yes
terday against Henry a. Rust. president OF
the Mt. Hope Cemetery Association, on
four principal notes. aggregatng s:,CO, O0c
and also to fOreclOse a chattel mortgage on
the furnishings of the Hampton apartment
house, Thirty-ninth street and Langley av-
enue. The total amount of the insurance
company's clam, including; interest. money
advanced 10 pay taxes ana insurance and
attorneys fees. provided for in the trust
deeds securing the notes, is about 100000.
Real estate IN Worth and on the South
Side, besides the Hampton apartment
house. secures the loans, and the company
asks that q receiver be appoined to take
charge of it and that arrangements be
made to sell the property Certificates ag-
gregating 500 shares CT stock in the Mt.
Hope Cemetery Association are also in
cluded in the security. Depreciation in
rentals and values of property is said to lie
the reason why foreclosure proceedings be-
came necessary.
CHICAGO, July 24.-The plant Of the Chi
cago Stamping Company at Harrison and
Green streets was sold at sheri!f's sale
yesterday to Frank Sturges for S.5UN.
Sturgis is the holder of The $240,0G0 Judg
ment against the corporation. and he gave
a bond of $50 600 for the return of the prop
erty in case the judgment shoull not be
sustained. 1t is understood Sturgcs will
proceed with the manufacture of about
5000 unfinished bicycles. which are a part
of the corporations assets.
FIT. SCOTT, Kan, July &-The deposit
tors of the State Bank of this city, which
was organized by Judge Thornton Ware.
OF Chicago, and ]. r. Colean, of Jersey
ville ILL.,. and which was wrecked by the
m nf nv
cashier, and who is now in the peniten-
tiary. held mass meeting here this after
noon and demanded that the court instruct
the receiver to proceed against the stock
holders, a number of whom live in illinois.
under the double liability law Of Kansas
to recover a sufficient amount of money to
pay the depositors in full by Sept Is next.
They demand also that the receivar coll