The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-04-30
Former Millionaire Was Yesterday
Adjudged a Bankrupt.
MUST FILE A SCHEDULE
COMPELLED TO FURNISH STATE
MENT Or ASSETS.
Otherwise His Creditors Will Under
take the Task-Has Seen Many
Ups and Downs and Won and Lost
Several Fortunes - Opposed to
Bankruptcy Proceedings.


At the solicitation of Gotlieb G. KIM
nick of Germany, w. II. Roy, Jacob
Moritz and D. Fl. Twomey. represented
by Attorney Gunter, John Beck, the
once millionaire mining operator OF
Utah, has been adjudged a bankrupt,
the order being made by Judge MAJ
shall in the federal court YESTERDAY.
The adjudication is not voluntary on
the part of Mr.. Beck, but is the result
of proceedings instituted by the ABOVE
named creditors on New. 20, last year.
At that time they filed a petition in
the United States court, representing
their claims against Beck to aggregate
over 81, 600, of which they could obtain
no settlement, and praying that he be
adjudged a bankrupt and that so mucn
of his assets as necessary be sold under
the law to satisfy such claims.
Before a hearing could be had, an
agreement was reached between these
Parties and Beck, giving him time IN
which to settle the Indebtedness.
Meanwhile Theodore Schroeder OF
South Dakota filed an Intervening petit
ton of the same character, represent
ing his claim to be S10,429, a Judgment
secured in the Third district court on
promissory note. and in this way the
! matter has been kept before the court.
Schroeder's instrument alleged that
Beclts Indebtedness exceeded $lO0OOO.
1t was flied during February of this
year.
The claims of the original petitioners,
1t appears, have not been settled as
anticipated and they again have taken
recourse to the law. Attorney Gunter,
for his client, asked that the adJudlca-
! ton order be made and that the case
be referred to a bankruptcy referee,
and this was ordered. Beck is IN de-
fault. technically speaking, he having
never denied being a bankrupt, al
though emitted to such privilege under
the bankruptcy law. He is ordered to
appear before Referee c. Baldwin OH
May 3, to receive. such instructions as
to the formalities of law to be complied
with in cases of this kind.
Must File Schedule.
Mr.. Beck will be required to file
schedules of his liabilities, property anu
assets within ten days if the procedure
is usual, and in his failure to do so, 1t
will be undertaken by the referee call
ing a meeting of the creditors to elect
a trustee to round up Becks assets.
Mr.. Beck. at the time the first petit
ton was filed, said that it was far
from his desire to resort to the bank
ruptcy law. All he asked was time
ana he was cOnIlueUI llletI lle SOuiu P"S
all he owes. il not forced to the wall.
John Beck is, or was. one of the larg-
est property owners in the state, but
of recent years he is known to nave
met with reverses and the extent OF
his remaining resources is in doubt.
His career has been a remarkable one,
he having been fortunate and unfortu-
nate by turn. He has possessed two
or three fortunes, at as MANY inter
walls, through successful speculation,
and his recent millions were from the
famous Bullion-Beck mine, of which
he was the largest shareholder HIS
stock in this producer at present, or a
part thereof, is said to be in the HANDS
of other parties as security for loans.
Mr. Beck is also a heavy owner il
Buckeye, and the present condition or
his interest in this proposition
whether incumbered or not-is said TO
be III question. He recently lost the
Hot Springs property, through fore
closure proceedings, but his privilege
of redemption runs to September l. 1t
will require nearly $4,000 to redeem the
property.