The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1902-04-17
THE STROUP FUND.
Legacies Left by the Wills of
David and Esther Stroup
to Help the Destitute
in Bloomsbury.
Some Of the Money Lost by
Unfortunate Investment.

In 1883 David Stroup died. He
kept a small store in the building now
owned by J. A. Hess on Main street
opposite the Episcopal church, and
he and his wife resided IN half the
building. BY frugality and economy
he accumulated comfortable fortune
and when he died, after providing
literally for his wife, he made num-
Der OF charitable bequests. Among
them he gives as follows:
"To the town of Bloomsburg in
which have long resided and where
my property has been acquired, the
sum of two thousand dollars, the same
to be invested and kept at interest
securely, the annual interest there
from TO be applied to the furnishing
of necessaries to destitute persons,
citizens of said town, who shall re-
quire charitable relief, and particularly
and first, 10 the furnishing of fuel and
light to such destitute widows and in
firm persons of said town, and the
procuring and distributing of such
supplies shall be under the authority
of the council of said town, and &C
counts thereof shall be settled annual
ly, x X X The above trusts in
the town of Bloomsburg shall be
formally accepted by the town council
by resolutions recorded upon their
minutes before the same shall take
effect, but after their acceptance any
citizen of the town may apply to the
Court of Common Pleas Of Columbia
County, as occasion may require, for
any proper order, decree or judgment
to define or enforce said trust, and
cause the same to be executed &C
cording to their true intent and
purpose"
This was accepted by the town
council, and the trust was executed
satisfactorily so far as is known.
In 1891 Mrs. Esther Stroup died,
and by her will she left similar sum
of two thousand dollars, to be used in
the same manner, the wording of that
clause in her will being almost idepti-
cal with that of her husband. The
benefciaries are left to the discretion
of the council, except that Mrs. Stroup
provided that they shall be people
who are not "publlc charges"
Two thousand dollars of this was
invested in preferred stock of the Silk
Mill, paying six per cent; one thous
and dollars IN Carpet Mill bonds, and
eight hundred dollars in stock of the
Brass & Copper Company. These
securities were handed over to Presi
dent Ikeler two years ago, at the be
ginning of his term, and subsequently
the Brass & Copper Co., paid off the
bonds to him. This eight hundred
dollars was not reinvested as it wa
held until a thousand dollars could &C
cumulate for investment. At the ex
piration of his Office Mr.. Ikeler hand
ed over to President Townsend th'
Silk Mill stock, the Carpet Mill bonds
and $e72,3I in money.
The Carpet Mill bonds will be pail
off through an audit now pending TO
the distribution OF the proceeds OF
sheriffs' sale, and it is estimated tina
the amount realized on them will b
about fifteen ceEts on the dollar, @
$4,000. The loss on these bond
will therefore be $3.50. 1t appear
that two hundred dollars of the prime
pal had been expended in some wa
previous to Mr.. Ikeler's time, br
$I72.3I of this has been made u
by withholding the interest. Th
money invested in Carpet Mill bond
will be irredeemably lost except tn
Is per cent Trusts of this characte
should be invested only through a
order of the court, as otherwise tn
party who loses it by bad investmer
may be held responsible, if it can ,
collected. AS it stands now the Strou
funds amount to only $s97s,3I with
probable $I5o to come from the Ca
pet Mill bonds, making $3Iaa.3I IL
stead of $4,000.
So far as we are able to learn, ther
has been only $1,000 in the fund fe
some time back. What became
the remaining $aoo.oo'