Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1909-02-28
W. VERNON BOOTH INDICTED
Head of Fish Combine Charged with
Conspiracy to Swindle Bank.
FALSE STATEMENT PRESENTED
Loan of $500, 900 Negotiated ON Basis
of Schedule Said TO he Ten
Million Dollars shy of
Facts.

CHICAGO, Feb. CIV. Vernon Booth
president of A. Booth & Co., the so-called
sish trust, which went into the hands OF
receiver last September. and p. r. Rob
bins, former assistant treasurer of the
company, were indicted today. They,
with others to the grand jury unknown"
are charged with entering into a conspir-
acy by means of which they secured Fwill-
fully malciously, feloniously," etc., the
sum of 100000 from the Continental Ma
tional bank of Chicago. The two men are
jointly indicted in one true bill, which
contains only three counts, none of them
differing substantially.
News of the grand jury's action created
a sensation in Chicago, w. Vernon Booth
inherited from his father what is said to
have been the largest fishing business in
the world The elder Booth was a hard
working business man who to his last day
could and would clean a fish and handle
sailboat with any Of his employees Iiie
son. william Vernon, upon his accession
to power was one OF the best known polo
players in the country and was socially
prominent not only in Chicago, but IN the
east Under his leadership, A. Booth &
Co. branched out. Smaller concerns were
bought in and several years ago the COM
pany had grown to proportions which at
tracted the attention OF the United States
government. The firm was brought to trial
Eor accepting rebates and pleaded guilty
to one count of the indictment. The case
is still under consideration. Mr.. Booth fire.
uuently intrusted the management of the
business to his staff. He was a member
of the Chicago Athletic club. the Chicago
Yacht, the Chicago Golf. the Onwentsia
and Union League clubs and news of the
receivership last fall was a surprise.
Big shrinkase I'm Assets.
A search for assets was instituted before
master in chancery Hervey Booth, in be-
half of the creditor banks to which the
company is alleged to owe large sums. The
liabilities weer estimated at over $60000OO,
but the assets, at first supposed to be suf-
ficient dwinded as the investigation pro-
ceeded and have unoffcially been estimated
as low as SS,OO0O00. This investigation has
not been concluded. Sensational testimony,
however, was adduced from r. r. Rob
bins, who was indicted with Mr.. Booth to-
day. The witness told startling story of
false statements presented to the banks
TO bolster up the tottering credit of the
firm. These statements by reducing the fig
ures showing liability, and increasing the
assets Mr.. Robbins said, were $2OOoOOO
away from the true condition of affairs.
The statement of July, 1905, alleged TO have
been presented to the Continental National
bank forms the basis OF today's indlct-
ment.
Mr. Robbins said that when Mr.. Booth
learned that the statement had been made
to the banks and that 1t was false, he
insisted that the banks be promptly an
formed OF actual conditions This was done
at a secret meeting IN the Continental Ma
hIonal hank. the witness said. Tho whole
fabric of alleged deception was laid bare
and the future OF the great fishing business
NBowu on the mercy of the bankers. For
month the secret was kept from the
public.
Many Prominent Witnesses.
W. j. Chalmer. the receiver, testified be-
fore the grand jury yesterday. Today the
witnesses were Ira M. Smith, former vice
president and general manager Of the com
pany; Alexander Robertson, vice president
Of the Continental National bank; N. j.
Ford, head of the credit department OF