The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-04-21

county, borrowed 81, 400 Feb. 10, 1885, The
only entry made is the simple statement of
forfeiture.
Sophia E. Rhodes, of Indianapolis, bor-
rowed 5000 May II, 1890. and forfeited her
land April q, 1885,
DIR. Robert c. Light, of Indianapolis, bor-
rowed $500 Jan. 2, 1891, and forfeited April
Henry zum Fielder, of Indian Springs,
borrowed $500 Jan. 1S, 1891, and forfeited
April n, 1895
Bruce Carr, of Indianapolis, borrowed
5000 June 3, 1884, and forfeited April q. 1898.
Rensselaer, Bowker, of Kokomo, borrowed
$500 June 10, 1891, and forfeited April q,
1898
Adder d. Armstrong and Elmer Arm
strong, of Deal, borrowed $1,000 Aug. IL,
1892 and forfeited Jan L. 1895.
r. S. Redmtnd. OF Indianapolis, borrowed
$50 March 30, 1893. and forfeited April p.
1885,
Russell c. Kelsey borrowed $500 April
Is, 1895. and forfeited April 21. 1898.
Benjamin f. Cline. of Indianapolis, bor-
rowed sl,400 May 81. 1893. and forfeited
April q. 1893.
rowed $500 Dec. 16 1885, and forfeited
April 81 1898.
Josua F. Landers, of Indianapolis, bor-
rowed $500 Jan. 26, 1894, and forfeited
Albert A. Light, of indianapolis. bor-
rowed 5000 Jan. 25. 1895, and forfeited
April q, 1898.
Arthur B. Grover, of indianapolis. bor-
rowed 5000 Feb. 5, 1885, and forfeited
April q, 1898.
John A. Huston, of indianapolis, bor-
rowed s4.5oo Feb. %. 1895. and forfeited April
John A. Baer, of Castleton, borrowed
81. 700 May %. 1895. and forfeited Jan. IL,
Ella c. wheatley, of Gibson county, bor-
rowed $4,000 Feb. l, 1896, and forfeited Jan.
10, 1899.
Samuel e. Kercheval. of Spencer county,
borrowed 5000 Sept. IL, 1896. and forfeited
Ian 10 1890.
This completes the list of forfeitures as
revealed by the records so far located by
the auditor and his deputy. They are look
ing for other books.
INDIANAPOLIS LOTS.
Many of those who forfeited realty to the
State had secured loans upon Indianapolis
city lots or upon lots in suburbs. which. it
is said, were overappraised. Deputy Bill
heimer states that the State now holds title
to vast amount of lots which appear to be
worth but a fraction of the money loaned
upon them.
The largest of the loans made on land
afterward forfeited was that made on over
appraised Gibson county land standing in
| the name of Mrs. Ella Wheatley, daughter
of William NJ Cockrum, and sister of John
B. Cockrum, general counsel for the L. E.
| & w. From the endowment fund $4,000
L
| land in Gibson county. IT appears now that
| the State will lose heavily by the transac-
| ton, the amount of the loss being placed
| at near $1,000.
When application was made for the loan
local appraisers returned a valuation OF
$4,000 No interest except the first INSTALL
ment. deducted from the principal was
paid-$900. When the land was forfeited to
| the State Jan. 19, 1899, there was due the
State S17,650.56. In 1902 the land was ap-
praised at $9,475-$20000 less than the ap-
| praisement made at the time the debt was
| contracted.
| The State will sell 800 acres at $50 an acre
| as the deal is practically closed. That will
| make 5000 the State will get back. The re-
naming $50 acres are said to be worth not
more than $1,000. which, added to $1,000
makes a total of $13. 200 the State can realize
! on the $22, 1856 due. This leaves net loss
| of S.93S. assuming that the State can get
! $50 an acre for the $50. which is doubtful.
a. c. Daily, who was auditor of state
| when the loan was made, says II is his
| recollection that the loan was negotiated by
| Col w. NJ. Cockrum, of Oakland City He
| had talk about the land with his deputy
| at that time, w. III. Hart. who was ac.
| quainted in that part of the State
| w. III. Hart says he thought at the time
| $50 an acre, but the State was lending but
| $50 an acre on IL. He said citizens i'm gooc
| standing made the appraisement of $50. HI
| said he had never seen the land himself
| although ii was his understanding that il
| was near Oakland City.
| Loans made from the Indiana Uniyersit,
| endowment fund and forfeitures cover tht
| terms of office of four state auditors. Bruce
Carr was auditor from 1887 to 1891 Johr
| o. Henderson from 1891 to 1895, A. c. Dali,
| from 1895 TO 1899. and William II. Hart from
/ 1899 to 1903.