The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1905-05-05
MAKES CASSIE LOOK
LIKE CHEAP GRAF Ter
Bigelow Of Milwaukee Was the
Only Real Napoleon Of FL
nance Extant.
BIG TRUSTS DlSSIPATED
Creditors Are Listed in All Parts of the
Country, and the List Is Sup
posed to Be Still Far from
Completion.

Milwaukee, April 29.-Frank G.. Bge
low, the defaulting First National bank
president has confessed to an indebted
ness to banks. commercial institutions
and estates OF which he has charge,
which will aggregate between $1,000, 900
and $4,000, goo, and based upon his con-
fession u voluntary petition in bank
ruptcy has been filed in the United
States district court which contains the
names of as many of Bgelow's credi-
tors as he can remember, together With
n list of assets on which Bigalow's val
uation is $l.419,0O0.
BY his own admission his creditors
extent; all over the United States. one
edness to the Broadhead estate being
100000 The debt is unsecured. 1t is
also believed that other trusts held by
the eN-banller have suffered.
Those familiar with the situation and
with what information they can CLEAN
from the former banker, fear that his
liabilities will run to considerable more
than his present estimate. as they be
lieve subsequent revelations will reveal
transactions of an even more startling
nature. The fact that the largest cred
itors, which are banks, are placed in
the list of unsecured creditors, had q
tendency to quiet people who have de-
posts in the city banks.
Astounding Developments.
The revelations as to the system OF
Bigelow in conducting his large affairs
are such as to Stagger the belief OF
bankers to whom the method in such
~
fling Of the petition in bankruptcy will
necesSitate the withdrawal of the Sc
curiteS which We're turned over by
Bigelow to the First National bank, as
being made within four months of the
filing of a petition in bankruptcy, il
constitutes an act of preference, and
the amount. which was estimated al
about 100000. will be equally divided
among all the creditors of Bigelow
This will in no way affect the bank
however as the guarantee of directors
and stockholders more than covers the
defacation. The following is the list
of secured creditors:
First National bank, Wisconsin Ma
tional bank. Second Ward Savings
bank, GermanAmerican bank and
Maine National pank. all of Milwau-
kee: National City bank and National
Bank of Commerce. New York; First
National bank. Chicago; National Park
bank. New York: National Bank OF
Commerce, ST. Louis.
Secured Creditors.
The total Indebtedness to secured
creditors is $l,975,000, with total
value of security of s1.275,OOO.
The unsecured creditors are: John
II. Broadhead, Caroline B. Watkins, E.
e. Williams, Mrs. Caroline f. James;
total indebtedness to unsecured credit
ors, $4,000.
Total liabilities on notes or bills dis
counted. $1,110.0OO.
Excluding the face value of life in
surance policies, the estimated value
of the assets. according to Bigelow S
figures, is about s1.419,000, but Attor-
ney Charles P. Spooner, who filed the
petition, said that undoubtedly these
figures will be subject to considera BILE
change as soon as the exact value of
the assets is determined.