The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1898-09-30

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southern states. In September, 1888.
it is stated in the complaint, the de-
PENDANT company made the Farmers
Loan and Trust company of New York
trustee of securities owned by the de-
fendent company as security for de-
bentures to be issued by the defendent
company in a series of 100000 The
defendent company, it is alleged, has
issued and sold debentures to the
amount of ST 1890, 900, which are o
unpaid. The Farmers Loan and Trust
company holds as security for this
amount real estate mortgages
amounting to about $1,e35,019.
The complaint further states that
the defendant company under an
agreement with the Real Estate Trust
company ,of Philadelphia, in May,
1891. has issued and sold debentures
to the amount of $1,76S,2O0 on which
the Real Estate Trust company has
securities amounting to S~1,S75,340. 1t
also states in it's complaint that the
defendant company has made smaller
issues of debentures, all of which have
been sold in Great Britain. 1t is fur
Their charged that the defendant COM
pany has borrowed from the banks,
depositing securities amounting to
about $167,9 75, and that 1t has fur
Their indebtedness amounting to over
$1O3 ,747. The defendant company, it
is stated, is the owner of real estate
mortgages on farm lands and other
property of the value of $516,4s1.
The complaint further alleges that
the defendant company will be re.
quired to pay on or before January,
1899, the sum of $3O2, 945, the amount
of the principal and interest on de-
bentures, and that it was compelled
to become the owner of much unprof.
liable real estate because of the de-
pressed financial conditions; that it
was unable to realize II sufficient sum
to meet its obligations. The COM
plant in conclusion states that the
defendant company is completely un.
dermined, but that by judicious man.
can be saved.
iIittIc Business Isl Omaiin.
Omaha, Ncb., Sept. 2S.-The New
England Loan md Trust company
has never done an extensive business
III Omaha. 1t had no Office here, its
business being carried on through real
estate dealers on n commission basis.
Its present representatives. who have
all the local affairs in hand, says it
business here is light, its losses, II any,
small, as all its property here is in
good condition and is well worth its
1rice.
No Surprise Here.
Sioux City, Ia, Sept. 2s.-The New
England Loan and Trust company
has since it first came into
Sioux City been represented by II. /.
Brown of the firm Of Carter & Brown.
When told of the appointment OF n re-
ceiver by a Tribune reporter this aft
ernoon, Mr.. Brown said that he was
not surprised, as he had been expect
ing some action of this kind since the
death of w. +. Bartlett, secretary OF
the company, and who was in charge
of its affairs especially in the west.
THE company" said Mr.. Brown, had
u large amount of money invested in
loans in Town, South Dakota and Ne.
braska. ] do not, of course, know
what will he the result Of the appoint.
ment of n receiver, but suppose he
will conduct its affairs in the interest
of the creditors"
1t is the opinion of some men in
Sioux City. who were interviewed on
the subject, that the company'sY at.
fairs will be wound up by the receiver,
1T is the last Of the large eastern loan
and trust companies that did business
in this section ofsthe west.