The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-03-27


bank, and even contracted for the pur-
chase, and deposited money to bind the
sale He then went east evidently Ior
the purpose OF interesting eastern friends
who had money in the scheme. but for
the first time in his life he failed. He
could not raise the money. When the
time for the expiration of the option
came Mr.. POpenOe was compelled to re-
Iinquish the bank, which was just
within his grasp What the result would
have been If he had succeeded IN his
plans can only be conjectured-
After the failure Of his bank project
Mr.. Popenoe devoted himself with re-
newed energy to his paper. Corps of
advertising solicitors were sent out over
the state and the local merchants were
appealed to. Business came, of course,
but it cost more than it was worth
As the year was drawing to a close It
became evident that Mr. Popenoe's
newspaper venture was not bearing
fruit The debit side Of the ledger was
appalling, and 1t was evident that some
thing had to be done. Then it was that
many Of the expensive men were dis
charged and a. policy Of retrenchment
was commenced. but it was too late
He had spent $50, 900 more than the re-
ceipts in bosming the Capital in the brief
period of eight months.
In his zeal for newspaper success Mr..
Popenoe had neglected his other busi-
ness Money was collected for clients of
the Accounting Trust company which
did not find its way into the pockets of
the clients Tt may have been used to
help make up the newspaper deficits or
for something else-at any rate it was
gone, and these people began to clamor
for settlement.
CREDITORS BECOME INSISTENT.
The Bank of Topeka again took charge
of the Capital. and Mr.. Popenoe was left
without resources to satisfy the demands
being made upon him. Before the first
day of February he left for Costa Rica
with his family, and he is still there
When the books of the Accounting Trust
company We're examined II was found
that there was due to eastern clients in
the neighborhood of $4,000.
One Of Mr.. Popenoe's pet projects was
his Costa Rica gold mines. He had in
vested $4,000 in developing these mines
and was president Of the Bella Vista
Mining company. He was also largely
interested in the Thayer Gold Mining
company which was virtually the same
thing Both mires are in the mountains
Of Costa Rica When Mr.. Popenoe went
to Costa Rica he hoped to raise money
on his interest in the mines He hal
sold much of his stock, however, before
he went away but he expected to get
back at least a part Of the money he had
invested. He left word when he went
away that he would cable money FROM
Costa Rica to redeem the Capital. but
again he failed.
Before Mr.. Popenoe left Topeka he
transferred his beautiful country home
to Coleridge Hart lawyer of SO Mas
Sau street. New York a distant relative
He mad secured money from Mr.. Hart.
He also decided his ranch Of 1.40O acres
situat ted near Alma, in Wabaunsee coL7.-
ty, to Mrs. T. z. Bowman, his mother
in-law.
TRUSTEES ARE APPOINTED
After Mr.. Popenoe reached Costa Rica
and when he saw that there was little
hope Of his being able to straighten cut
his tangled affairs at once he sent the
manager Of the n-ining company, r. Q.
Shaw. a brother OF Jesse Shaw, of the
Topeka Water company, to Topeka to
make arrangements Of some kind to adj
just the tangled skein of his affairs. NJ
Shaw arrived in Topeka a little nora
than a week ago and appointed two
other trustees to act with him. Tie
three trustees are John R. Mulvane, OF
the Bank Of Topeka, Jesse Shaw and r.
C. Shaw. Before Mr. Shaw left to return
to Costa Rica a week go. he gave the
Topeka people assurances that the min
ing company would return to Mr.. Pope
and as this amounts to $60.000 it would
more than pay all his pressing Obliga-
tions.
There are no resources in the Ac-
counting Trust company and the only
hope Of the trustees is that the mouey
Will be returned to Mr.. Popenoe by ire
mining company Mr. Shaw said ne
thought this would be done, as he says
the mines are becoming very prosper
Gus.
Meantime the mining company held an
election and deposed Mr.. Popeuoe as r !
officer and director, but he still holds
about $50. 600 shares of mining stock al
g par value Of 81 per share. The mines
are said to be rich in gold ore and il
they are the probability is that Mr.
Popenoe will reap a share of the bene-
fits Meanwhile Mr. Popenoe and his
in, In
wil0s of Costa Rica waiting for affairs !
to right themselves, when he declares Re 1
will return to Topeka and settle all his
obligations.
s. Z. L.eavitt has recently returned
from the Costa Rica mines and Col A. I
s. johnson and J. P. Griswold have also
been there on trips of inspection and al;
say that the mines are bound to turn cut
well They with many other Topeka
people are financially interested in the
mines.
ACCOUNTING TRUST co.
Charles L Holman and w r Bar
rett are working hard to straightea out
the affairs Of the Accounting Trust com 1
pany. They have been associated with
Mr.. Popence for many years and they !
refuse TO discuss his trouble They e
both known as honorable and straight 4
forward gentlemen and the blow falls
heavily upon them
The last statement of the Accounting
Trust company was fled with the Sec
retary of State last June 1t is as fol-
RESOURCES.
Bills receiva e---.-.----.-.-.--- $29, ,537-S5 |
Real estate---..- ...-.-.......- 25.315.00 /
Personal property 1.2S3.10 !
Stocks and bonds $4,000 /
L ash on hand. d..--.....-....-.. 29s85 |
Due from banks. ks.----.-.-..-.. 9.690.70 !
Accounts receivable .---.--..-.- 20-642-5s /
total s175 seq. q