The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1904-01-21
Depositors Of Defunct Kenosha Trust
Company to Seek Long Over
due Obligations.
MORE TROUBLES FOR F. S. K0MP
Still Three Thousand Dollars Due to People
Who Took Stockin His Enterprises
In KenOsha.

nosha State Bank have been paid IN
full the troubles of Frank S. Komp on
account of his Kenosha financial enter
prises are not over and quiet move is
now being made to get hold of some
thing that will furnish pay for the de-
positors in that other institution Of
Komps known as the Kenosha Trust
company. The creditors of the defunct
company have united with common
purpose and two of the best known at
torneys in Kenosha have been given
the claims against the company with
instructions to collect them or such
| part of them as may be possible. For
la long time the Kenosha Trust com.
pany and its affairs have remained
untouched but this was allowed on &C
count of the fact that the creditors
thought that it would be better for
them to take concerted action at time
when all the claims were fully due.
Many of the claims against the COM
pany have become due but as far as
can be learned none of them has been
paid either in whole or in part. When
the Baltimore Trust company took
charge Of the affairs of the bank it was
thought by a number of the creditors
that this company would also insure
the payment of the amounts due from
the Trust company but such was not
the fact and the company absolutely
refused to meet any of these obliga-
tions although many of them were pre-
scented for payment while che agents
of the company were in charge of the
bank.
One of the heaviest losers by the
failure of the Trust company was VIM.
L. Hackley a former Kenosha druggist
who is now located at Libertyville,
| I'll. Mr.. Hackley was in Kenosha on
Wednesday evening and in speaking
of the matter he stated that of the nine
hundred dollars which he had on de-
post with the company he had never
received a cent. "Many of the depos-
itors of the Trust company" said Mr..
Hackley, shave given up all hope Of
ever securing cent of their money.
Thus far nothing has been found which
can be taken to secure the payments
of these amounts. My claim like many
others has been placed in the hands Of
attorneys Peter Fisher and A. E.
Buckmaster and these men hope at
some time to secure at least partial
payment of the claims"
Shortly after the failure of the bank
2. S. Komp who was the sole owner of
the Trust company, went to Chicago
and since that time he has been con-
nected with a small brokerage bust
ness. It is supposed that he pledged
all of his private fortune to secure the
payment of the claims against the
bank and for this reason it is hard to
see where any funds are to be secured
to pay the new claims that are being
presented.
The Trust company had not heen
organized for sufficient length Of
time to come under the protection OF
the state law and for this reason it
would appear that the hopes of the
creditors have gone glimmeriug. The
claims against the Trust company
amount to little over three thousand
dollars and most of them are held by
people residing in Kenosha.
In this connection it might be said
that number of bills owed by the Ke.
nosha State Bank were never paid.
Many tradesmen in the city still hold
claims against the former president OF
the bank and these may just as well be
counted in the profit and loss column
as no effort is being made to pay them
and the Trust company which settled
the affairs Of the bank stated positive.
lily, through its agent, that the COM
pany would not be liable for such
claims.