The Scranton chronicle. (Scranton, Miss.) 1897-19??, 1903-08-08
he SPECULATD IN CORN.
An Aged and Wealthy Illinois Far
mer's Experience with st.
Louis Commission Firm.
NE ORDERED CORN, THEY BOuGHT WHEAT
New saes for Forty Thousand Dol
lars which, Tie Alleges. is Due
Htm,Bnt which the Brokers Claim
Was swallowed tp IN Deal
which Was Not Authorized.


81. Louis. Aug. 2.--The Merchants
brokerage 4 Commission CO.. with
Offices In the Gay building, Third and
Pine streets, is In trouble. In the
United States circuit court William
Wilmcrton, of Rock Island county,
ILL.,, has filed suit against the COM
pany for $4,000
At four o'clock Friday afternoon
United States Marshal William l..
Morsey took charge OF the compnny's
affairs. lie also had garnishment pa
pers served on the Germania Trust
Co. to prevent 1t from paying out any
funds the brokerage company may
have deposited there.
Mr.. Wilmerton names ns defendants
in his suits, besides the Merchants
Brokerage q Commission CO., the
Traders bank of st. Louis, Arthur
+. Mclntire, q. Louis Stern and Will
lam J. Peek. The latter is the presi-
dent of the brokerage coucern. Nc
Intire was formerly it's president, but
is now the president of the Trnders'
bank. Stern is said TO hold on ofiiee
with the brokerage company.
o. w Deppeler, formerly manager
for John j., alias "Baldy" Ryan's Turf
Investment Co.. is on letter heads of
the company as its treasurer. Wheth-
er he still holds that position has not
been learned.
Before moving TO the Gay building
the Merchants Brokerage e. Commits
sion Co. Offices were in the building
at the northeast corner of Fourth and
Olive streets, where Ryan's turf in
yestment concern held forth. The Of
fees of the Traders bank are in that
building now.
Wilmerton alleges that he lost $780,
900 through the defendant company,
which he gave IL 10 invest for him in
corn. lie Is SO years old, and said to
be the heaviest taxpayer In Rock Is
land county. His post office address
Is Presumption.
He began has investments with The
concern, he says. last December. The
amount he sent was not large, and
was 10 be invested in corn. Grain
was the company's specially. When
n winning was made he says he re-
invested, until his outlay represented
the amount he sues for. He claims
that he never got one cent from the
company. The latter, he says. kept
reporting TO him the large profits his
money was making. and he was salts
fed.
In May last Wilmerton received Il
letter from the company saying that,
owing to the wonderful success Of his
investments in corn, the company had
decided TO invest his money in Sep
tembcr wheat.
lie had not authorized II to do any
thing Of the kind, he claims. Several
weeks later the company reported
that everything had been lost.
Things are in rlinous condition."
the telegram read. at will require
100000 to save YOU"
The aged investor then became sus-
picious. The additional $4,000 was
not invested. Instead, Wiimerton
came here to investigate. He arrived
this week, and employed Attorneys
Higdon. Longan and Hopkins to look
after his interests. The result was
the fling Of the suit and the attach
ment and garnishment proceedings.
Mr.. Hopkins, Of the law firm em-
ployed by Wilmerton. claims that the
company never bought busheI of
corn for his client.