The Montgomery advertiser., 1901-12-14
BLINN, DODD
 AND MORGAN Three Accused Of En-
 bezzlement. ARE PLACED UNDER BOND Result of Debenture Company
 Litigation. Morgan Charged With dsEng away With ses, ,ooo, Blinn With Em- bezzling $5o,ooo and Dodd s1a,ooo of company's Fund

Birmingham, Dec. 13.-(Special.) .)-0eos W. Morgan. president, and George A. Blinn, Jr., treasurer. of the Continental Security Redemption Company ana W. L. Dodd, formerly secretary and treasurer oi
 the old Birmingham Debenture Redemp-
 tion Company. have been arrested on the
 charge of embezzlement.
 The men are prominent and their arrest
 caused quite a sensation. Morgan was
 arrested at Hogansville. Ga, and he was
 brought here today. Messrs Blinn and
 Dodd were arrested here.
 The arrests all grow out of transactions
 alleged to have occurred in connection
 with the affairs of the Continental Securi-
 tv Redemption Company. Four war;
 rants were gotten out against
 Morgan, charging embezzIement of
 various sums of money and checks
 aggregating $6S.0o0; two against
 MT. Blinn alleging embezzlement of
 money and a check. aggregating s5o,ooo.
 The warrants were sworn out by Thomas
 I. Norwood and are returnable before Justice of the Peace I. H. Benners who will hear them on December 21. Mir. BIinn made bond immediately and the others later.
 D. M. McCalla, John M. Dean, E. W.
 whaley and James Campbell. all claim | ing to be debenture holders. swore out | the warrants against Morgan. These | warrants were sworn out some days ago | and the sheriff had to first locate the defendant in Georgia and then send q man after him.
 The Continental Security Redemption | Company up to the time of it's affairs be- | came involved in the courts. icarried on a
 debenture business. Its financial troubles | were brought to the attention of the | public April IS. last, when petition was | filed in the United States court in this | city to have the concern placed in the | hands of a receiver. This petition was | filed by George A. Blinn. Jr., and other | officers of the company and set forth at | length the reasons why the company l feared its inability to carry on its bust- ness.
 It was alleged among other things that l suits had been instituted and that others were threatened and that unless some l thing was done there would be a multi | tude of suits and the company would be seriously crippled. The unrest and dis content among the patrons of the com pany had been brought about, 1t was alleged, by reasons or certain court | decisions touching the legality of the business.
 Following the filing of this petition a receiver was appointed, Mir. J. B. Cobbs. president of the Alabama National Bank being designated to take charge of the affairs of the company. and since then he | has been in control
 In the meantime, the litigation growing | out of the filing of the original bill has | increased in volume and has extended l into the State courts. The case Is now | pending in the Court of Appeals on | motion to discharge the receiver. The | exact amount of the liabilities of the | company Is not known publicly. but 1t is | estimated that 1t is something like $300. | 900. The assets are said to be less than | one-half that sum. The Continental | Security Redemption Company carried on | an extensive business. having agents in l Alabama and Kentucky and there were 1 hundreds of debenture bond holders.
 W. L. Dodd was arrested on a warrant | charging him with the embezzlement of | $12O0O. Bond was fixed at Sl.000 which l he furnished with ease. The warrant | was sworn out by Thomas I. Norwood and it charges that the accused while secretary and treasurer of the Birming- ham Debenture Redemption Company, committed the alleged offense. The Continental Security Redemption Company absorbed the Birmingham
 Debenture Redemption. Company, the Columbia Investment Company, the Southern Debenture Company and tha
 American Debenture Redemption Com pany.