The Providence news. (Providence [R.I.]) 1891-1906, 1905-04-27


attorney Charles F. spooner, who filed
the voluntarily petition in behalf of Mr..
yIigelow. was compelled to make up the
petition in such a short time that IL is
far from complete and will necessarily
have TO be amended. So far as could be
ascertained, the banker had no system OF
recording his financial transactions and
the schedule had 10 be made up from a
list made in pencil on half sheet OF note
paper in Mr.. Bigelow's handwriting. He
was not positive as TO the names OF some
creditors nor OF the nature OF some OF
tho companies and had nothing az hand
20 refresh his memory. so the attorney
was obliged TO use his best judgment In
figuring out what concerns were meant.
WITHDRAWAL NECESSARY.
The fresh revelations and filing OF the
yetition in bankruptcy will necessitate
the withdrawal OF the securities which
were turned over TO the First National
Bank. as having been made within four
months OF the fling OF the petition In
bankruptcy. the act constituted prefer
ence OF creditors.
The amount estimated at $500 O0O will be
equally divided among all the creditors.
This will I'm no way affect the bank how
ever, as the guarantee OF tho directors
and stockholders more than covers the de-
falcation.
The schedule Of assets and liabilities OF
Mr. Bigelow as filed Is as follows
Creditors, secured 10 some extent: First
National bank Of Milwaukee. 81 800. .0Oo:
Wisconsin National hank Of Milwaukee.
$50. 0oo: Second Ward Savings bank Of Mil
waukee, $4,000 German American bank
OF Milwaukee,. $4,000; Marine National
bank OF Milwaukee $4,000: National City
bank OF New York 5000: National Bank
of Commerce OF New York, $1,000: First
National bank OF Chicago. $4,000: Ma
tional Park hank of New York, so O0O.
National Bank OF Commerce OF St Louis
$4,000.
Unsecured creditors: Broadhead estate.
sl0o. 900: Caroline Watkins, $4,000; Mrs.
X Ann tname doubtfuD. $1,000. Samuel
Watkins S24, ,Q10; unknown persons, $4,000.
BIGELOw's ASSETS
The table of assets with the valua tions,
estimated by Bigelow, is as follows:
Sundry life insurance policies with face
value OF 100000: 1900 shares OF First Ma
tional bank stock. at 5000 a share. 1870, 900:
IL 9Do shares OF National Electric stock,
y4s0. 900: 1900 acres OF coal land Huerfano
county. Colorado. $50 200. 5000 shares i'm
Del Norte company Sl50.o0. shares I'm
Idaho company s35 oo0 shares preferred
stock McKenna Process company, Pitts
burg. $4,000; shares common stock Nc
kenna Process company. $1,000: shares
Comanche Mining and Smelling company.
S36, 900: shares In Chicago Highland asso-
citation. s70oo: Locory 90 National bank,
Atlanta s300O shares i'm Fond du Lac
bank $500: stock in Northwestern Iron
company, $40 000 shares I'm Zion Furnace
company. Ashland. 5000: notes OF sundry
individuals. $40 600: shares Grand Rapids
Edison company. 10000: Camp Real Es-
tate company. $4,000: share In Milwaukee
Iron Works company. C?) $4,000; 25O0
shares j. J.. Gates Land company, $780,
600
Included In the schedule Is the Bigelow
home, valued at s35,oCo.
Excluding the face value OF the life in
surance policies, tho estimated value Of
the assets. according TO Bigelow. Is slab
Coo hun this will be subject TO considera-
hle change
PREPARED IN HASTE
"7he petition was formulated in such
haste said ATTORNEY Spooner. That the
schedule and lis.s OF assets as well as
some OF the names of the companies are
inaccurate IL was compiled from the rec
elections OF Mr.. Bigelow. as he had no
books or memoranda at his house appar-
emily from which definite figures could he
obtained I cannot vouch for tho accu-
racy OF the schedule OF liabilities as Il is
POSSIBLE that more will he found How
ever. I am convinced that Mr.. Bigelow
gave me tho best information he had az
hand end that this was tho best he could
do In the short space OF time a our dis
posal"
ver.hcation OF the report that the
I'roadhead estate had been the loser 10
the extent OF Si0DlN Is contained I'm the
petition in bankruptcy. An investigation
.Df the affairs Of the estate will be con-
Quoted at once.
TO LOOK AFTER INTERESTS.
John G. Broadhead OF Kingston. y Y,
oie OF the benehcaries IN the estate. will
arrive here Friday night 10 look after his
interests. In speaking OF the matter be-
fore the hling OF tho petition. Bigelow ad-
mit;ed he was indebted 10 the estate.
The property was valued at 100000.
bur, he says. all the personal property
was divided some time ago.
Tic Henry e. Payne estate r. absolute
~ intact. according 10 George =. Miller.
II amounted 90 $4,000. hut neither execu-
tor OF the estate could transact business
without the sanction OF the other.
AIN nfnTlI InCIIDannr