The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-10-22
A SHOCK TO DELANO
Liabilities of Ignatius Gutzweiler,
Who Died Last Spring, Esti-
49,, y, mated at $4,000.
Many Poor People Ruined-Money
Collected on Mortgages Never
Paid Over.
. Special to The Journal.

Delano, Mimi. Oct 22.-Citizens Of Del
ano have had a painful surprise regarding
the condition of the estate OF the late
Ignatius Gutzweiler, who had been life
long resident of the county and VINO had
been trusted and honored all his life. He
died in st. Paul several months ago,
shortly after returning from Hot Springs,
where he had undergone q course OF treat
ment. At that time he was supposed to
be a very wealthy man, his assets being
rated from 500, 900 to $l50,OO0. lie lett q
will which gave his property largely to
various charities. among the number be-
ing a home for cripples at Delano
The last week has clearly shown that
the home planned by Mr.. GutZWeiler Will
not be built at least not at present, and
many aged people who had trusted MN
with their all will receive in return for
their hard earned money, which in many
cases represented the savings OF years
only few cents on the dollar.
Mr.. Gutzweier was a former register OF
deeds of Wright county, having filed that
office in the seventies. After leaving the
registers office he purchased the plant of
the Delano Eagle. editing tn" paper Tor
some time, later forming a stock company
and turning the management over to other
hands, altho he always retained con-
trolling interest in that publication. This
business IS IN a prosperous condition, ana
will in no way be affected by the failure.
His experience as register naturally led
to real estate Investments and he had
acted as agent in buying and selling and
making loans SO great was the conf
dence in his reliability that many, espe-
cally among the older residents. took
their money to him for investment, re-
ceving in return only his prOnissory note
for which he used d special form which
stipulated that it was not transferable.
The rate Of interest paid was per cent,
which proved tempting bait for this
class of investors.
After the funeral the property was turned
over to an administrator and appraisers
commenced their work. 1t was then the
surprise came, and it was found that in
stead of being solvent the liabilities
reached total of about $4,000, mostly for
money borrowed, with available assets
estimated at about SIS 600 In some cases
money had been paid to Mr. Gutzweiler
to apply on mortga ges. for which he had
given receipts and then failed to forward
the money or notify the persons who held
the paper
There are several cases that are heart
rending. One aged couple hal by years
of hard work and rigid economy saved
81 900 to provide for their declining years
The per cent which had been paid them
regularly for several years, together with
their little garden. kept them from want
This is swept away and they Will realize
only a few dollars from their savings OF
a lifetime. There are many cases of this
kind.
What became Of the money is a mystery
that will be hard to solve. Those who hao
been closely associated with him are as
much at sea as outsiders. He had no" eX-
Densive habits. never married and lived
with his housekeeper in a modest cottage
in the village. After his death the house
keeper filed a deed for the home which
had been given her two years ago by
Ciutzwciler with the request that it shoulc
not be filed until his deal tn.
Citizens have been loath to believe the
reports regarding the estate, but have a
IA # been obliged to come to realization
of the true condition of affairs. Those il
charge of the estate will use every effor
to save all possible from the wreck, bu
the most that can be realized will be from
10 to Is cents on the dollar.