Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1904-04-28
DAVENPORT CRASH
S. r. Smith, Former Mayor and
Prominent Citizen. is
Bankrupt.
DEBTS ARE AT LEAST $4,000
Greater Part in Trust Funds in
Which BOndsmen May
Lose.

The filing of Il trust deed yesterday
of former Mayor s. F. Smith. of Dav-
export, has shocked the business in
terests of that city TO their founda-
ton. The property is transferred to
w. {. Putnam and y. W. Wander Neer
to satisfy claims estimated at $4,000
held in trust ny Mr.. Smith. and S25,
900 of other indebtedness. The assets
include the $4,000 residence of Mr..
Smith, 100000 worth of stock in the
Morning Republican and large real es-
tate holdings in and about Davenport.
Whether the property will he sutlici-
ent to meet the claims is not yet de-
tcrmined.
For years Mr. Smith has been one
of the foremost citizens of Davenport
and it was supposed his business af-
fairs were i'm the best of shape. So
great was the confidence in his hon
eSty and ability and so general the he
lief that he was one of the wealthieSt
men of the city that various trusts
were placed in his hands, among them
being the following:
I-Hldlt tl I-lid w dINti. W iOpN III
j. Monroe Parker. of which y. W.
Wander Nccr is co-trustee with Mr.
Smith, about $4,000.
Estate of Charles II. Sheaff, of
which Mr.. Smith was sole trustee.
about S1S.O00.
Estate of Hiram Bursie, of which
Mr.. Smith was executor.
Trustceship under will of James
Grant in favor of Miss Matte Keiser
and her sister, niece of Judge Grant.
Investment funds of Mrs. Isabella
Sheaff and Alexander Sheaff.
Oalldale Cemetery association, of
which Mr.. Smith was treasurer.
The Bondsmen Affected.
Mr.. Smiths bondsmen are y w.
Wander Neer. f. :. Ballard and Charles
Whitaker, in the SheafT estate: \. w.
Wander Neer. Charles Whitaker and
W. {. Putnam. in the Kaiser estate,
ana -. W. Wander Neer is joint trus-
tee in the Parker estate, of which Mr..
Smith was also trustee.
The assignment has no effect what
ever upon the Republican company.
in which he was Il stakeholder. nor
upon the paper, with the management
Of which he has had nothing to do
for some time. As the Republican
company is Incorporated. the success
or failure in business Of any of its
Stockholders cannot affect its affairs.
The trust deeds are all well protect
ed by bonds. and the loss. if there is
any. viii fall upon the other creditors.
Mr.. Smith has made no reservation
in turuincr his proDprty over a he do
voted to a settlement of his debts
save that he specifies that the family
be allowed 5000 month for 10 months
for living expenses. Even property
that might ne kept under the law of
exemptions is not retained.
Is "A Lawyer.
Mr.. Smith is a lawyer by profession,
but has not practiccd at the bar for
many years, being concerned with the
management of his business affairs.
He has been prominent in church
work and in wide demand as public
speaker. With his family he has made
several trips abroad His father was
Rev. Samuel Francis Smith. author OF
My Country. It's of Thee
His start in the legal profession was
made with the late Judge James
Grant. with whom he was associated
many years in Il most lucrative prac-
ticc. He was one of the organizers of
the Davenport National bank and for
some years its president. He was also
an organizer and director of the Union
Savings bank and has held many of
fees in patriotic and philanthropic or