The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-19
ATTACK ON MR.. CORSER
THE MINNEAPOLIS GENTLEMAN
HONORED BY GOV. LIND WAS
NOT TAKEN UNxWARES
HEARD THAT IT WAS COMING
Had, However, Met 1t in Private
A Review of His Business Trans
actfOns--The Public Now Learns
That He Has Paid $33, to
Creditors, Although Under No
Legal Obligation to Do So.


The Minneapolis Times yesterday
morning made a futile effort to cast
discredit on Gov. Lind by attacking
Mr.. E. s. Corser the nominee for sur
veyor general of logs and lumber for
the Minneapolis district. The effect of
the attack, which occupied several COL
umns, is told in another part of this
paper, where it is related that the sen
ate confirmed Mr.. CorserS nomination
without the slightest hesitation and
despite the fact that a copy of the
Minneapolis paper met the eyes of the
senators wherever they turned
Mr.. Corser was seen last evening by
a reporter for The G. o b e at his home
on Vine place in Minnea polls. He re-
marked that he had come through a
bitter fight with successful result
owing to the fidelity of host Of
friends, Democrats, Populists and Sill
yer Republicans, and the pluck of Gov.
Lind
Il wish to make a special recogni-
tion," said Mr.. Corser, continuing, "of
the fact that each and every Silver
Republican throughout the state waiv-
ed their personal claims and asked for
my recognition.
With regard to the article in this
mornings Times, 1 wish to say that
1 have been DESTROYS for some years to
make a public statement of the facts
connected with my insolvency, and the
unusual kindness of the Times has at
last given me the opportunity
Here Mr.. Corser handed the reporter
a communication addressed to Mr.
Haskell, of the Times, which he. stated
was copy of one sent to that gen
tleman with the request that it be
published in that paper with as much
publicity as was given the adverse
criticism printed yesterday morning
In addition to the facts contained in
Mr.. Corser's letter to the Times, Mr.
Corser said that the actual cash div
tdends paid to creditors of the insol-
vent firm of Corser & Co. by the as
signee. E. c. Cook. Esq. has aggre-
gated 13A per cent. This, however,
was realized from the sale of few
fnconsiderable pieces of real estate in
the early months of 1899 Immediately
after the assignment, together with
collections from accounts and bills re-
ceivable and outstanding contracts Of
the insoivent firm.
In June, 1898, following the panic Of
that year, the sale of real estate be-
came practically impossible. This con-
dlt1on of the real estate market con-
tinued until in May, 1896, at which
time, by the agreement of the credit
ors and the order of the court. the
bulk of-the remaining estate of Corser
q Co. 1nsolventS was divided among the
creditors. Meanwhile, during these
more than three years which had
elapsed since the assignment, the ex-
penses of the assignment were borne
by the income from my wheat farm
in the Red river valley Unfortunate
ly, during these three years, the mort
gagged property of the insolvent firm
passed to the secured creditors by
foreclosure, and, meanwhile, the de-
probation CT the value of real estate
had been continuous and severe. 1t is
impossible for ME to state what the
final dividends received by the unse-
cured creditors will aggregate. This
depends upon the disposition of the
properties which were taken by cred
ltors in the division of the estate. It
is, however, certain that some cred
1tors will realize from the cash re-
ce1ved and the proceeds of the real
estate taken in the division nearly or
fully 40 per cent
Properties aggregating one-third of
the claims against the insolvents have
been placed in charge of the Corser In
Vestment company for care, sale and
settlement. Messrs. Corser and Ell
wood are respectively the president
and vice president of the Corser IN
aYestment company. These claims were
those held by 65 per cent in number of
the creditors of the insolvent firm.
Was Mr.. Lind fully advised as to
these facts?" Mr.. Corser was asked.
: Il think that he was quite fully adj
V1sed. as [ know that statement re-
lating to my insolvency was prepared
by E. c. Cook, Esq, the assignee, who
is connected as director with the
leading creditor bank of this city The
governor also received a letter upon
the subject from the president of an
other of the leading banks of Mime
apolis. also submitted to the gov
ernor early in December an exhibit Of
payments made since our insolvency
from the earning of the Corser Invest
ment company to creditors toward
whom we had no legal obligations.
many of whom were local, and others
residents of other states. The aggre-
gate sum paid in this manner is be-
tween $4,000 and $35, 600. With this
exhibit l also showed to Mr.. Lind the
receipts which, in many cases, had
been given for these payments and let
tiers received from our creditors. I
have reason to believe that Gov Lind