The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-10
WOULD HAVE ERNST
DECLARED BANKRUPT
Three of His Creditors File a
Petition Financier Still
Abides in Jail. =

| the banker whose meteoric career as a
financier finally landed him in the
county Jail, will be declared a bank
rupt.
Three of his creditors yesterday filed
a petition in the United States district
court, asking that Ernst be declared
bankrupt This method is considered
by the creditors as the most simple man.
ner of getting at the bottom of the as
sets held by Ernst, as well as the best
means of realizing from the estate,
whatever it may amount to.
Out of the bankers numerous cred
itors, but three of them signed the Pc
tition in bankruptcy, but this number
is sufficient, and will have the same eff
feet as if the petition had been signed
by all of the creditors.
The petitioners are Stephen Trant,
of Racine; Andrew Lfndenfeldt, Of
Brooklyn. N. Y, and John c. Wiltsen,
of Watsonville, Cal.
1t is charged by Mr.. Trant that some
time between Jan. /, 1901, and May l.,
1903, Ernst collected the sum of $35
on a not payable to the petitioner by
John G. Burke, and failed to turn the
money over to the petitioner. The Sec
ond petitioner, Mr. Lindenfeldt, shows
-lltot Oil w. Ioy lOVoy III iiot saw iiiii
check on the Second National bank
for $4,6567S, on which there was paid
Oct. % the sum of $3.50, leaving
balance due on the check of 81 1868.
John C. Wiltsen, the third petitioner.
is the indorser of a note given by Ernst
to Father KurtZ, at that time a resi-
dent of Brooklyn, but now living in
California. The note was for $4,000,
and has been transferred to Wiltsen.
- Nil
whatever. -
Accused of Preferrins Creditors.
Aside from the formal allegations in
the petition, it is charged that Ernst
is involved to the extent of at least
$4,000, and attention lis called to the
fact that he has undertaken to show
preference in giving a deed Of trust to
his holdings.
Mr.. Ernst is entitled, under the bank
ruptcy laws, to make answer to the
charges contained in the petition, and
if he does so the matter of settlement
will later be taken up by Michael
Doran Jr., referee in bankruptcy pro-
ceedingS.
careful examination Of the records
in the office of the register of deeds
shows that Ernst has, during the past
few days, made more than twenty-five
assignments to creditors. Many OF
these asst gnments cover deals by no
means recent, but in which assignments
were not filed until Ernst's financial
difficulties became known.
The list of assignments, satisfaction,
of mortgages, powers of attorney ana
trust deeds, made by Ernst recently, is
as follows:
To John D. O'Brien, trust deed to
Ernst and Manner buildings, Nov. 3.
To Mary Link, two assignments.
TO Adelne Link, seven assignments.
To Stephen Trant, one assignment.
To Scrofini Cosanni, eight assign
ments. so< 30 IS
All of the above assignments have
been recorded since Nov. 1. Others
filed prior to Nov. Il, and within the
past two months, are as follows:
George Mayer, assignment, Sept. %.
Michael Mullner and wife, satisfacz
ton of mortgage, Sept. 10.
Andrew Lindenfeldt, assignment,
Oct. 5.
John C. Devereaux, satisfaction Of
mortgage, Oct. 81. 80 tn
The above assignments aggregate but
a small portion Of Mr.. Ernst's indebt-
edness, being something less than $15,-
900 in ALL In the cases of his larger
creditors no assignments have recently
been made. 500, ar
Woman Loses $500.
One woman, whose name could not
be learned, called at the Office of the
register of deeds yesterday afternoon
to investigate an assignment which she
supposed had been made to her by
Ernst, but an investigation of the rec
ords showed that the assignment had
been made to another party, and all the
woman had to show for the $500 she is
said to have intrusted to Mr.. Ernst
h &c, 81 xxyI,i
sidered worthless.
John D. O'Brien, to whom Ernst gave
trust deed for the Ernst and Manner
buildings, has turned the property over
to r. l.. Ware, a real estate man, who
will look after the needs of the tenants
and collect the rents, the task requiring
more time than Mr.. O'Brien could de-
vote to it.
Mr.. OBrien expressed his position as
merely that of a stakeholder. He had
no preferences to show, and was mere
ly looking after the matter in the in
terests Of the creditors combined. He
admitted that the situation was much
more serious than it appeared to be at
the time he assumed his duties, and he
could not say how the creditors would
fare in the settlement.
Unable to secure bondsmen, Mr. Ernst
is still a prisoner at the county Jail.
Each succeeding day brings to light
new creditors who are said to have
placed their money with Ernst for in
vestment, and until a thorough investi-
cation of the affairs is made, there is
no way of telling the figure the bank
er's alleged defalcations will reach.
1t is conServatively estimated that the
amount will be in excess of 100000,
and many people believe that it will be
twice that amount