The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-08-26
REMOVAL OF MCCOY
LAID TO POLITICIANS,
Director Ludwig Declares Trust
Company Did Not Cause His
Resignation.
PARTY FIGHT IN TERRITORIES.
Several st. Louis Republicans
Take Part in a Quarrel Which
Involves All the Leaders
and Secretary Hitchcock.
PARTY FIGHT IN TERRITORIES.

William n. Ludwig, Republican CITY Cen
trail Committeeman from the Thirteenth
Ward. said yesterday that the report from
Muscogee. /. T.. regarding the resignation
OF Joseph Mccoy as Assistant United States
District Attorney had nothing whatever te
90 with his connection with the Canadian
Valley Trust Company. Attorney Ludwis
is director in the trust company and
spends great deal Of time in the Terri
tory.
McCoy's resignation was not known until
It was printed in The Republic yesterday.
He was one of the best-known Republican
politicians in the State. and previous to his
appointment In the Territory he lived n
st. Louis and took an active part in the
Atkins faction. Recently he has been here
frequently. working IN the interests Of
Frank D. Roberts for National Committee
man and Walter s. Dickey of Kansas City
for State chairman.
Though Mccoy was counsel for the Ca
madam Valley Trust Company at the same
time that he was Assistant United States
District Attorney" said Mr.. Ludwig yes
terday. there was no Government informa-
ton which he could use for the benefit of
the company. Our company cannot make
loans on land. as the law forbids, except
ing on town lots in certain instances.
TAMs BIXBY PRESIDENT.
'Tams Bixby is president Of the com.
pany. He Is also chairman Of the Dawes
Commissin. but his official duties would not
put him in the possession of information
which would be of advantage to the COM
pany. The corporation does banking bust
ness chiefly. There Is so little money in
that country that there are certain banks
which average 80 1-3 per cent year. One
cannot borrow money for less than per
cent month. while most of II IS let out
at 20 per cent. 1t is simply case of sup
ply and demand. and. considering the risks
1t is not high rate.
Zone Of the chief ways Of making money
through the Indian leases is when a poor
Indian is financed in order to get his allot-
ment. A trust company mayo do that. and
then rent the land for. say. 80 cent an
acre. They subrent 1t for $1.5o and 81 an
acre. nice profit. but perfectly legitimate.
The lease is the security for the money
which the company has advanced to the In
dian.
Il am certain that Mr.. Mccoy did have to
resign. He has made an efficient Govern
ment officer, and has been vigorous in
prosecuting those who were selling liquor
unlawfully or doing any form of violence.
The lawless element cordially hates him.
He helped organize the Canadian Valley
Trust Company last February. The charges
which the man Brosius have filed are not
founded on facts.
'.He did not have access to the Govern
ment records. do not deny that there has
been some unlawful work done in the Terri
tory. That would be only natural. but
know that whenever they are called to the
attention Of the Secretary of the Interior.
he makes short work Of the delinquenta
I filed charges against one Official myself,
and things were Strengthened up in short
order"
Mr.. Ludwig says that no other citizens Of
st. Louis or Missouri are interested in the
Canadian Valley Trust Company