Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-04-27
B|GELOW HAD
PECULIAR WAYS.
His Manner Of Conducting Large
Affairs Such as to Stagger
Belief OF Bankers
HAS CREDITORS everywhere.
COnfesses Indebtedsess TO Nearly
Three Million DoIlars.-0ue
Estate Looted

Milwaukee, Wis, April 27--Frank G.
Bigelow, the defaulting bank president
| has confessed an indebtedness to banks
| commercial institutions, and estates OF
which he had charge which will aggre-
gate between S2OOO,OOO and $4,000. OOO
and, based on his confession volun-
tary petition in bankruptcy has been
hled in the U. S. district court which
contains the names Of as many Of Mr..
Bigelows creditors as he can remem-
Der together with a list Of assets on
which Mr., Bigelow's valuation is ST.
$4,000
BY his own admission his creditors
extend all over the United States one
estate has been looted his indebted e.
ness Ia the Brodhead estate being 500, .
ooO' The debt IL unsecured It is also
believed other trusts held by the form.
er banker have suffered. Those famll-
lar with the situation and with what
information they can CLEAN from the
former banker fear his liabilities will
run up to considerably more than his
present estimate, as they believe sub
se1uent revelations will reveal trans
actions Of even a more startling ma
ture.
Atty Chas. p. Spooner. who filed the
voluntary petition IN bankruptcy in be.
half Of Mr.. Bigelow, was compelled to
make up the petition in such short
tlme that II Is far from complete and
VIII necessarily have to be amended So
tar as could be ascertancd, Mr.. Bige-
low had no system Of keeping a record
or his financial transactions and the
schedule Of liabilities and assets had
10 be made up from a list made i'm pen-
en- on half sheet Of note paper i'm
Mr. BigeloW's handwriting MIR. Bige-
low was not positive Of the names Of
some OF his creditors, nor Of the nature
or some OF the companies and had moth
ing AT hand 10 refresh his memory. So
the attorney was obliged TO use bIs
best judgment in figuring out what con-
Germs were meant
HIS WONDERFUL METHODS.
The revelations as to the system Of
Mr. BigeloW I'm conducting large affairs
arc such as to stagger the belief Of
bankers to whom method in such
transactions is as second nature. The
Ming Of the petition In bankruptcy viii
necessltate the withdrawal Of the SCI
curities which were turned over by Mr.
bigelow 10 the First National bank. ms
Delng made within four months OF the
ming OF the petition i'm bankruptcy. II
constitutes an act OF preference of
creditors and the amount which was
estimated mt about $500 900 win no
equally divided among all the creditors
OF Mr. BlgcOW. This will I'm no way
affect the bank, however, as the guar
antee Of the directors and stockholders
more than covers the defalcation.
LIABILITIES.
The schedule Of assets and liabilities
of Mr., Bigelow as filed is as follows:
Creditors secured to some extent:
First National bank Of Mil
,,, Waukee ',,,...,;,,,,","...Sl,5 100000
Wisconsin National hank Of
sMil Milwaukee y,t .so,,,,.,,",y... $4,000
Second Ward Savings bank Of
Milwaukee .,,,.";.,y".y $1,000
German American bank Of
Milwaukee ..,-...q,..... 10000
Marine National bank Of Nil
waukee ,".,;,,,;."...y,,.. 10000
National city bank of New
York ".;,,,,.,:.,.,..,... 5000
National Bank Of Commerce,
New York ..,..,,..,..,u.. 5000
First National bank Of Chicago 30 ,O0O
National Park bank Of New
YORK .,.,,.,,.,.,,,,,,,.. 10000
National Bank Of Commerce,
81 Louis ....,,.,.,.,..,..,. 60 600
Unsecured creditors;
Broadhead estate ..,.........s 100 0oo
Caroline Watkins .........., 2l0OOO
Mrs CKann) name doubtful .. 1000
Samuel watkins .,.,,,.,..... $4,000
Unknown person ,,,,,,,.,.,.,,. 5000
The estimated total Of liabilities is
about S22O0,00O, as Atty. spooner
stated that the petition il so incon-
plete and may be subject 10 so much
amendment that exact amounts can.
not be given at present.
ASSETS.
The table Of assetf with the yauo-
lions placed upon them by Mr.. BIRe.
low himself, to the best OF his recol.
lection, Is az follows,
Sundry life insurance policies
with face value of ......... GOO OOO
1900 shares Of National Elec-
trio stock OBSERVATION-DISCLOSURES. $50 600
] 500 acres OF coal land. Huer-
fano county Colo ........... 0OO0
$500 shares IN Del Norte COM
pany ",.,,.,.,.."..u,., 10000
Shares I'm Idaho company ..... rs 0OO
Shares preferred stock McKen-
ma Process company, Pitts
burg, -...,.,.,,,,..... $4,000
Shares common stock McKen-
ma Process company ,.....,. 5000
Shares Comanche Mining and
Smelling company ,...,,.... $4,000 !
Shares In Chicago Highland
association ,,..,,.,,..,.,.,... 1000 |
LoWeIy National bank, At
lanta NEUTRALITY-SUSPICIOUS.. %. 3 900 |
Shares I'm Fond du Lac bank. goo |
Stock IN Northwestern Iron
company OBSERVATION-DISCLOSURES. 10 900 |
Shares In Zion Furnace COM
pany, Ashland ...,........ 5000 |
Notes Of sundry Individuals. 40 900 |
Shares Grand Rapids Edison
company ACKNOWLEDGEMENTS, 20 900 |
Camp Real Estate company so 600 |
Shares I'm Milwaukee Iron
Works company 90 ...,.., $1,000 |
$500 shares J. L, Gates Land
company ,",,.,.,.,,,,...,. 100 900 |
Included In the schedule Is Mr. Bige-
ow's home at Aston and Knapp streets
On which he places a valuation OF $40 |
lOO which, less the exemption allowed
by law on homestead, ~ valued at
i35 600
This schedule OF assets Is as follows.
furniture ''''''''s''s'.''',,.,,., N3B 600
iiorseS -" '''''''''''''''''.',,.," 1900 !