The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-25
SHORT WAY TO GET RICH.
,opBOU MONEY AND BUY a LOAN
ASSOCIATIONS.


n,,.i,,ss TO some now men. two OF whom
W. ,c, started for Malone to see Supcrintnn-
Nv Nv, Frederick y. Knburn of the State Bank
u. r,r,rtmcnt. This was done after Deputy
I'.s.,,,,y.t;curral John G. Coyne and Charles
,.. attorney for the association. had ap.
I'D before Justice Slower in Brooklyn in an
,I,, brought hy the State. at the recommen-
~, f tho Banking Department to put the
u,s,,,i,n in the hands OF receiver In order
tSetyr tho prospective purchasers Of the asso-
cation an opportunity to make what arrange
mrut they rouId WIN cue pun KING Depar',
non, the Deputy Attorney General Genera consented
to an odl"''' '., ,vaIanaI. ,,.,
down the hearing Tor Wednesday morning
N"anNn,'" t a.. ,"a, ar,in. " ~ '''' Wv
con'cr,, on vs. w. ,,,''r.n,an,h oa ,o,rroa so
The Banking p'par'nleh' mas iearneu some
interesting details OF the transaction BY which
Ircsa,n' 'T "o.tsriay cot control Of the Osso.
Water TnU mas nns t Ssn p sot nmS op
S'a. who has been promoting a few concerns
himself 70 take an interest in the building and
loan association idea Bel! Twas, was convinced a, tina.
there was money IN H. wafer sa'u all tnat
wa. needed was q little money as starter. In
49,, 81, in the BANKING Departnent
e't"F Oh W. ,r IT." ,,'I Raj.
Walter thus addressed Ben
.,.rs,,u VI, Drtt. / want 70 borrow $50
wv raN" NJ" money in order to get control
w., ,ho Eastern East building and Loan Company.
rn,o,,rrarv hasa paid-in capital of s., OOO.-
In@ c'",r",G al ' 81 which ia Invested in real
estate. The directors own 100000 OF the
e''" , ,.ilr turn ovcr tho companv To me
s''rS' a"' wa, ,"'m t,tno thar ,b,rs
aud my directors on ny tahlhs 'he'r share.
will give for the use Of the money $4,000.
rowed in on9nt NJ fifteen days; The hed com,
Gs elected rrono-o to Eur ri at once
re! sgck "t pr.seF w ou si25 b00 in pa ssss
and $l N NO. are p to n,p rom
whom max" tn1 pHTcm vSa gre , 70 ,9an me
$lnVon lrG ue ,s' "a" Vii rsc W"f en " Bnarh
q directors thar the per9Wn mH1 loanS He the
money may d"rsnatT' WIZ ths I Le asfeemrht
Yours very truly. J. \. WALTER.
nrEemru 20 say t,aI ',I Goi''oan' mas no
liabilities nNcep' 70 -hareholuerS. ,
Bel. hai hr' Nova Hcotlan ,uoWn
q lqha\ WIZ inat 4 ,b an 1r eye up, open iHs
Ing schemes mn toIu WY ouuSy thas u oir
could get Sonsoody 70 isha BIN Hlo H'o; Tp
ior two wo"k7 n" could MAKE $500; Inc
Judge ~ s'Tm WIZ f., U'I Gnt Mn have S5oHn
Meanwheth e ta-t"rn deal had iaiien through.
and water, hhI Hhue d va 70 ,iH ->eM i9Ik
National That scheme went through % as toid In
TIE HuN yrstetIay. ahW on ~ I @
81 the asNoSIa,i"h q. o''' Hu peii aiu
Poster ann Two uther'pUM lia M n. hppletnn'
patent attorney. ana hainh McH , an e.1 S
b1l e g9iy Rg money aya the other b. Fos
ter himself took h3u for me transfer Der OF inc
aSsogia,i2n So cre WnT Mnrsb of th od
board. Tn" Judge eT9uGht the money to
II" mretnE IN ron o. oWu p rnHn ~ and
himself and twenty for Marsh
hompTMn ,nn'unt HNir his waI anu ,nea
igaeu II NY any i pTI ro IN MS !Tbnn Marsh
SmnGd m, oyer amt %dts it " twice zee, and Put
s iii u 1iooi day. senIlsmrn, and Went out.
Walters directors then elected him Presl-
dent am Aplie,9h Nrtre.ary ana treasurer;
anu ttpceruru 20 au' nOrIiHe MN 70 20 hheau
~ ~ , 49, ' "a ,.SIav nrnrisaorv
mas w urs Foufsr ,T $40 0W one Of So,
MEM i'' to The The Baoktnr Denartment says that
se Si Es s'a uP"gr al erf to
purchase Tor S.2uOuO. SlOOOtoof which was
The explanation given me by Walter" SAYS
Bel. was that as the company was to ac-
S%l,re $1,000 worth OF property t9r which
II qiheE Words Waiter was to n! sci, bis si94.S00
ditto f%styr, '", " '1' o
Rssa ass, his money. Walter toid hin To- wait;
through, he said. The Judge waited g long
while andaI lie got wasa check for 1000. He
went around 10 the associations offices one
day Matter had taken up commodious quar-
tiers on the ground floor OF the Bowling Green
inIlng-ani t,!l Walter he would have that
$4,000 or something would happen.
>, You'd better 30 away. Judge" said the
President.
TO away I'm director OF this. associa-
ton. I've got a right here" exclaimed the
Judge
-, \ director, Oh. no. you're not" replied
Walter, "You haven't paid for a share. Now
get our Of here. or III have you thrown out"
The Judge went out into Broadway and
Al6ng A. I'M. Ind ~ Dacambar vben I, VIVA
time to make a showing Tor the Banking De-
Fhrtment Mater wrote to Bell the remark a BILE
,etter printed in Yesterdays Sun asking him
t"eet the not-s Tor $40 900 away from Judge
Eva tn.Iud. g., ,ha, s,.,am',. ,,,o ,,,.,
to Foster tie lrpartnrpt viii come mon us and
SIDES beginning some Kind OF action against all OF
Re participants individually. - l propose
shat yol see him aud explain the situation and
T h,te We all stand II he will surrender me the
,ar VA t caMrel Them so that they do not exist