Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1902-01-03
St. Paul Trust Company
Goes Into Liquida-
ton.
CLEVELAND TROUBLE
EVerett-Moore SVndi-
cate Finds It Hard to
Obtain Finances,

St. Paul, Jan. 3.-The ST. Paul Trust
company, with capital of $4,000 has
voted to go into liquidation. The
chief cause is the supreme court de-
cisiOn making the trust company Ii
able for judgment of 100000 in the
estate of c. ID. Strong, which has been
in charge Of the company the last
decade.
Creditors viii probably be paid in
full, but stockholders will receive an
uncertain amount. The announce
ment is made by a public examiner.
The company's business has been
very extensive.
Cley Gland, Jan. 3.--When the doors
of the Dime Saving and Banking com
pany, upon whicl, the run was start
ed yesterday as a result of the an
nouncement of the financial troubles
of Everett & Moore, who are members
of the board of directors of the in
stitution. opened today, there was a
big crowd of depositors waiting. Each
person was presented with Il slip say
ing the bank would require GO days
notice of all withdraw ais, in accord
ance With the bylaws. The assets of
the bank are more than sufficient to
pay all liabilities.
Cleveland. o.. Jan. 3.-The financial
affairs of the Everett-Moore syndicate,
owning or controlling a number of ur-
ban and interurban electric railways
and an extensive system of local and
long-distance telephone lines in Ohio
f,,+..
of n committee composed of seven
prominent bankers of this city yester-
day This action was taken, itNis
stated, as the result of temporary
financial embarrassment on the part
of the syndicate, which has for some
time past been affected by the string
ency i'll the money market. The COM
mittee chosen has been at work in
veStigating the affairs of the syndi-
cate and expresses the firm belief that
the concern is entirely solvent, and
that its embarrassment will be only
temporary.
Properties Controlled by the Syndicate.
The Everett Moore syndicate is ac-
credited with controlling more than
200 miles of urban and interurban
electric lines in Ohio and Michigan,
with many new extensions still in
course of construction. Among the
telephone properties owned outright or
controlled by the syndicate are the
Cuyahoga Telephone company, of this
city, with upward of 10000 subscrib-
erS: the United States Telephone COM
pany dong distance), the Federal Tele-
phone company, the Stark County (O0
company, the Columbiana
County (O) Telephone company; the
Peoples Telephone company. of De-
troit; the Wood County (O.) Telephone
and a number of others in
which the Federal Telephone company
is the controlling factor.
Street hallway Property Solvent.
Among the more important electric
street railroad properties In which the
syndicate is largely interested are the
Cleveland Electric Railway company,
the Detroit United Railway company,
the Toledo Railway and Light COM
pany, the Northern Ohio Traction COM
pany. the Cleveland. Painesville and
Eastern Railway company, the Detroit
and Toledo Shore Line Railroad COM
pany. and the Lake Shore Electric
are declared by the committee to be,
with scarcely an exception, in good
physical condition. perfectly solvent
and in no wise embarrassed. The ag-
capitalization of all the va
riouS properties owned or controlled by
the syndicate is said to be about $780,
100000. Expert accountants have been
employed by the committee In charge
to examine and report upon the con-
dition of all the constituent companies.
No statement has as vet been given
out. indicating the liabilities of the
syndicate.