Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1905-05-17
TELLS OF TROUBLE
J. w. War; Using Business COL
lege Influence to Get
Out of Prison.
He WRITES ANOTHER LETTER
Declares His Downfall Came Through
His Great Desire to Be
Strictly Honest.

J. w. War;. the convicted Moline
embezzler. is making desperate efforts
| 10 secure his liberty from the state
| penilentiary. To this end he is using
| his influence with his associates in
| business college work and contributing
! letters TO the various publications with
which he has been connected. In the
| Columbus (OhiO) Educator. May issue.
his letter enters fully into his side of
| the question involving his downfall
! and the financial ruin of scores of No
| line investors who had faith in him. In
| this letter War; says:
Convictions unjust"
Ever since the commencement of
the troubles that landed me. uniustlv
| as | believe, in a penal institution. I
nave wanted to make a full and true
statement of the conditions of my case.
| felt this TO be due, as a matter of
justice. TO those who had treated me
so kindly in the past and who had vol
UNFAIRLY bestowed upon me their high
est hOnors. | was prevented from do
ing this by the positive instructions of
| may attorney who. for good profes-
slonal reason, no doubt, did not wish
me 10 run the risk of the possibilities
OF prejudicing my case in any way.
think now, however. as ! thought then
that il would have been far better had
| been at that time allowed to tell the
truth. the whole truth and nothing but
the truth In the necessarily prescrib-
ed limits of this communication | can
not DO much more than make a gen
roll I'll
intent in the transactions which a
heartless persecution tortured into
the semblance of criminal acts
Trying to BE Honorable.
Strangely enough, the incipiency of
my troubles was in trying 10 be honor
able from a high moral standpoint.
which the judgment of the world does
not recognize as essential in its esti-
mate of character.
Il was one of the large stockholders
Of a corporation which failed and
thought il would be manly and honor
able in men TO protect the outside
stockholders and the banks having
claims against the company by paying
was yet TO earn. OF course | realize
iON that " 4I4Ic NY LiOllNtS were COZ
rect. my judgment was at fault The
banks had taken the plant for So 900. |
] purchased it back at a price that set-I
tied their claims in full-about $13 900 |
took the badly crippled business. and !
succeeded in placing it upon a healthy |
paying basis But its rapid and al |
most phenomenal growth carried with |
II heavy burdens
Bought Heavily.
In order To do the work that came
to me. it became necessary for me tol
date equipment for first class work |
and this necessarily diverted the mon
ey | had intended to use in the liquida-
ton of the obligations l had assumed. |
which amounted to about $4,000. To
carry this load and provide for the de-
mands of my business. / was Obliged !
TO borrow large amounts of money and |
on long time.
Il was then secretary of a building
and loan association and had been for
% consecutive years. When money |
piled up in the treasury for which there |
was no demand. | though it would help
the association. and enable me to fund /,
my obligations by becoming a borrow
er
borrowed Legally.
ITO do this in the regular way. took |
out about $4,000 worth of stock. on
which | kept up the dues regularly. |
and then made what is called stock
loans for money as | needed it, paying
the interest monthly as provided by
the bylaws. Every loan | made was,
as | fully believed. amply secured, but
to place them in a still better condi-
ton, l took out about $4,000 OF life
insurance in favor of my estate. at
taching to each policy a memorandum,
stating that in case of my death the in
surance money was TO be used in set
Element of my loans.
But it may be asked how it was
that my securities, which seemed to be
ample. did not cover the amount of
the claims against me. One reason
was that the discrepancy charged
against me was grossly incorrect-one
item of over SO 900 being withdrawn
by the prosecution before the case
went TO trial.
Plant Sold at Loss
Another. and more important rea-
son was. that my property was ruth
IeSsly sacrificed Ny plant. which was
then paying a six per cent dividend on
SIS. 900 was sold 10 my competitor ia