Iron County register., 1904-09-22
CREDITORS SECURE
HARROUN BUSINESS
St. Joseph Grain Man Turns Over
His Holdings.
ST. LOUIS MAN MAY MANAGE
Total Liabilities VIII Amount to
Nearly a Half Million Dollars,
Part of Which is
Secured.

st. Joseph, Mo-, Sept. NV. H.
Harroun, at the head of the Harroun
Grain Co., who is alleged to have se-
cured about half a million dollars on
forged bills of lading and grain ware
house receipts, has placed his business
in the hands of his creditors,
A trustee will be named to take
charge of the business. The creditors
have not agreed upon man, but it is
said that st. Louis grain dealer will
probably be selected.
The agreement between Mr.. Har-
roun and his creditors, by which hs
gives up his business, was made Fri
day night after an all-day session.
The total liabilities amount to about
$S90,0OO, and of this about $4,000 10
secured. The property turned over to
the creditors will amount to about
$4,000
Ben Phillip and R. A. Brown were
appointed to draw up an agreement,
which will be signed by all concerned.
The companies involved are the
Harroun Elevator Co., of St. Joseph;
the Harlem Elevator Co., of Harlem,
Mo-, and the Gulf Elevator Co., of Kan
sas City.
The assets, which will be turned
over to the creditors, are estimated as
follows: Grain and cash, including
about $4,000 bushels in the elevator in
Elwood, $160,OO0; equity in real estate
property, mining and oil stock and
other securities, 100000; land, $780,
600; cash supplied by friends, $4,000;
total, $37O,OO0.
The liabilities are as follows: Union
Trust Co., of ST. Louis, 100000, un-
secured; National Bank of Commerce,
Kansas City, 100000, half secured;
American national bank, of Kansas
City, 100000, half secured; Whitney
national bank, of New Orleans, $685.
900, secured; Compton national (branch
of Bank of France, Paris), of New Or
leans, $4,000, unsecured; Mechanics
national bank, of New York city, $67,-
900, unsecured; Corn Exchange nation
al bank, of Chicago, 5000, unsecured;
Tootle-Lemon national bank, $12S,000,
secured, except 20,000 Mechanics, ma
tional bank, of Leavenworth, 5000;
unsecured; First national bank. of
Kansas City, $4,000, secured; other
large creditors, 5000, 1000, secured; small
creditors, $4,000, secured and unse-
cured.
At II o'clock Friday night it was
agreed to accept Mr.. Harroun's propo-
sition.
Harroun has made his first statement
since his arrest, following closely upon
his recent return from Chicago. He
says:
81 have been expecting to be arrest
ed for some time, and am only sur
prised that it has not come before now.
II am no coward. neither am I a
baby. am ready and willing to abide
the consequences of my mistakes. That
is all there is in this world for the man
who makes mistakes.
''If they will give me a chance, will
repay every dollar that is owing to my
creditors. Regardless of what the
grand jury or the courts do, will
make every effort in my power to re-
ir1burse those who who have lost
money. | know there is a special
grand jury investigating the matter. If
they want me to, I will tell them all
know, and help them in every way pos.
sible to get to the bottom of the af-
fair.
"The first good night of rest l had
in year was the night the story first
became public 1t was blessing to
get rid of the awful worry of months.
81 haven't run away from them,
though. | went to Chicago to try to
straighten things UP. Even If had
heard that the law was after me while
I was up there, would have come
back just the same. am not shrinking
from the consequences, and am going
to face the music like man.
"If I get my chance, however, L will
pay back every dollar. All want for
myself is a living for my family. Give
mo that apd tIo oroditnrc nop howe the