Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1908-03-13
Well Known Iowa Falls Capt.
talist Has Suspicious Aroused
Just in Time
CAME NEAR LOSING $500
Scheme to Unload Forged Real Estate
Loans Thwarted = V. A. Biegs Was
Intended Victim, and Man Giving
Name of X. r. Stevens, of Fort
Dodge, the swndler.
Special to Times Republican.

Iowa Falls. March 13.--V. A. Bigss,
a we'll known capitalist of this city.
has Just escaped being the victim of
one of the best laid schemes to unload
come to light in central Iowa. Mr..
Biggs missed losing s1,500 by a mar
February, Mr. Biggs and c. III. Come
~, also of this city. received letters
from one *. r. Stevens, of lSt. Dodge,
stating that he was forced to protect
some margins on some property in the
west and that owing to the Strngency
in the money market, he was forced to
dispose of two second mortgages l,sar-
ing per cent interest aud secured by
we'll improved farms near Radcliffe IN
this county. He offered to discount
the paper so that it would net the
purchasers per cent and better. Both
gentlemen wrote MIR. Stevens for fur
ther particulars, addressing their let
tiers to Marshalltown, where he said
he would be a few days. Mr.. Comely's
letter was returned unclaimed. but Mr..
Biggs received a reply, written on Pill
grim hotel stationery, to the effect that
when the writer returned home, he
would send description of the prop
erty, but that he would have to have
the money by February 2Sth. or it
would be no good to him. Mr.. Bggs
received no further information and
supposing Stevens had sold his mort
cages elsewhere or withdrawn his Of
fer. placed $500 in another place.
A few days ago. however, Biggs
received notice from the Home Saw
ings bank of this city that they had
received some loan papers for him as
collection from a bank in Perry. On
investigation, he found the papers We're
the Stevens loan, one being for $500
and the other for $1.500. Mr.. Biggs
took the papers and examined them
carefully and submitted the abstracts
to his attorney for approval. He
passed them as o. X. and Mr.. Biggs
decided to take the $500 loan. Ac-
cordingly he had the bank forward
a draft for that amount to the bank
at Perry, subject to Mr.. Stevens or
der.
The next morning. Mr. Biggs was
looking over one of the abstracts more
carefully. and noticed that A. N. Drake
of Radcliffe had once owned the farm
on which he had just taken a second
mortgage. To reassure himself that
his security was ample, Mr.. Biggs
called up Drake and told him he had
Just bought second mortgage Sc
o~l fov mo- nct
of Radcliffe. Mr.. Drake told him there
must be some mistake as there was
no loan on the farm. as the owner.
H. II. Maynard. a wealthy resident OF
Freeport, ILL.,, owned the land free OF
incumbrance. AS it had been repre-
scented to Biggs that there was a
mortgage Of $4,000 ahead of his. ne
grew suspicious and decided to look
into the matter He wired the bank
at Perry to hold up the draft sent to
Stevens until further orders. An hour
later, Stevens called to receive the
proceeds Of his collection, but was In
formed that the draft had been re-
ceived but was held up. Stating he
would call later Stevens left the bank,
going to an interurban car and 60
ing to Des Moines, stopping at the
Slavery hotel.
Mr.. Biggs went to Eldora with the
papers and submitted them to several
parties who declared them genuine,
but on being told of Biggs' suspicious.
they were able to detect flaws. The two
abstracts that We're supposed to have
been made by ]. F. Hardin were pro-
nounced by Mr.. Hardin and his alb
stractor, III. F. Bateson, as forgeries
But the mystery remains how any one
could have secured from the Hardin
office. the paper and filing backs as
the forgeries We're made on papers con-
tanning the same water mark, "Colum-
bia Bond.' These abstracts are per-
feet limitations and would pass mus
ter for appearance anywhere. 1t was
found on checking them up with the
records, however, that there existed
many minor errors.
The signatures of County Recorder
L. B. Tucker and his deputy, S. r.
Edgington, were shown these gentle
men. and were at once pronounced for
geries 1t is noticeable that the sig