The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1898-01-13
THE MYSTERY Yet tjNSOLvED
NOT MUCH NEW LIGHT ON THE
ALSTP AFFAIR.
Building and Loan Associations
Are Looking Into Their Affairs
AN Attachment.

The whereabouts of Edwin <. Alsip
are still wrapped in mystery. He has
dropped completely out of sight, but
there is no suspicion that he did so
foolish thing as to end his life, for
thus far there have been no develop
ments that would warrant man of
such a practical turn of mind as he to
do such a thing.
His affairs are in a confused, not to
say muddled condition, to be sure, but
1t is possible that they can be straight
ened out so that all who had been
doing business with him will be able
to realize where they are at" Until
something more is known concerning
his manifold monetary transactions it
would be useless to speculate as to what
disposition he has made of himself
Mr. Alsip owes a great deal of money,
but where he has borrowed largely his
creditors hold securities that may or
may not cover the amounts he owes.
In smaller matters there seem to be
many who claim he is indebted to them,
and this class Of creditors are endeav-
oring to secure themselves by attach
ing his personal and office effects.
Judge ]. w. Hughes, executor Of the
the two large safes in the office to Sc
cure an Indebtedness of $3.50 which it
is claimed he owes by virtue of having
acted as agent for the executor. One
of these safes, it is claimed, is owned
Jointly by Alsip and the Occidental
Building and Loan Association. and the
officers of the association have taken
steps to protect that interest.
~ III To,1i1 in y
and Loan Association, of which Alsip
was Secretary, have elected Robert H.
Hawley to serve until further action
in the matter. George w. Locke and
Peter Newman, Alsips bondsmen. have
been notified of the action Of the di-
rectors. His bond is in the sum of
5000. In an interview yesterday re-
garding Mr.. Alsip's relations with the
association, Mr.. Locke said:
Il have known Mr.. Alsip a long
while, and have found him to be a
rustler, and have always believed him
TO be honest I think that it will yet
be proven that his downfall has been
due to indiscretion rather than dishon-
esty
"Why, just last week" continued
Mr. Locke, "he drew a check in my
favor for somewhere in the neighbor-
hood Of 81, 700, in order to make a
quarterly settlement of rents and in
terest If he had intended to defraud
any one he surely would not have done
that. OF course, I do not know what
shape his affairs may be in, but L am
Of the opinion that he Will have some
thing left after his debts are all paid.
1T seems that he has come to the end
Of his rope, but I have an idea, as l
said, that things will be Strengthened
out.
las regards this building and loan
business" continued Mr.. Locke, II feel
that the way to do would be to select
a new directorate, appraise the value
of securities, apporion the loss. and go
ahead. If we are compelled to sell out
our securities in the present state of the
real estate market the losses, as 1 I'M
derstand it, win be very heavy"
Mr.. Hawley states that he has not
discovered anything to warrant a be-
lief that Mr. Alsip has appropriated
any of the funds of the Union Associa-
ton.
Mr. Alsip was also Secretary of the
Occidental Building and Loan Associa-
ton The directors of that organiza-
ton recently caused him to turn over
its money and effects to NJ. r. Beard,
who is now going over the books TO
ascertain in just what condition its af-
fairs are. Ira A Robie Albert Elkus
and John Feeney have been appointed
by the directors as a committee to ex-
anime into the affairs of the assOcia-
ton generally.
The Fair Oaks Colony managers say
that Mr.. Alsips troubles will in no way
interfere with their plans, including the
construction Of the proposed electric
railway.
WHAT MIR. OLSON SAYS.
Alfred Olson. who with w. E. Brown
has purchased the business conducted
by Alslp, and who had been for years
connected with the Office was seen by
a Record Union reporter last even
ing and asked If he had anything more
70 say in regard to the situation of af-
fairs.
Yes" replied Mr.. Olson. 81 wish to
correct some things. / have been
quoted az saying things which / deem
it my duty to myself and the pubic to
correct. As to the business affairs of
Edwin X. Alsip & Co, this was discuss
ed In various ways between myself and
Mr.. Brown, as to what would be the
best course TO pursue.
Not being able 10 obtain any infor-
nation as 70 the whereabouts of Mr.
Alsip, and fearing that something had