Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1909-07-23
PARDON
IS NOT OPPOSED
Now in I'D Year, He Pleads to
be Allowed to go to Old
Home in East.
STORY OF HIS DOWNFALL
Misrepresentation OF Moneys Entrust-
ed to Him by Davenport.
Friends.

Samuef FRANCIS smith, former
mayor of Davenport, for whom the
Iowa board of pardons has recon-
Il mended an unconditional release, is
now in his I'D year. He has served
| five years. His health is failing.
and he wants to die in his old home
in Newton Center, Mass. If Cover
nor Carroll signs the pardon, it is
stated he will leave Immediately for
that place.
II S. f. Smith has had remarkable
career. AS a young man he came
west from the Massachusetts home of
his parents, in the Sos. He clerked
in r furniture store, entered the law
Office OF Judge Grant one of the lead
ing jarists of Iowa's early days, to
study law, was admitted to a partner
ship, and then, by single stroke
of good fortune, saw himself and
his partner become independently
wealthy in day.
|; Big Deal I'm Railroad Bonds.
III Judge Grant believed that the
blocks of railroad bonds voted by a
tier of counties in Iowa to help the
building of the present Rock Island
II system across the state were valid
and worth their face Most of the
counties had repudiated them and
they were regarded generally as
worth little more than so much pa
per. Grant & Smith bought all they
could get of them, and got about all
of them. Then they went to the
| Il N nf a
II decision declaring them valid and
collectable with interest. One morn
ing they awoke to find themselves
famous and wealthy.
n Mr. Smith took trip to Europe,
returned to Davenport, built pal
atial home surrounded by a block of
II ground as beautiful as park, and
there lived in state until he turned
lit over to his creditors when the
crash came.
II Since the day when the decision
Iof the supreme court came to him
| saying, Your railroad bonds are
II good-you- need work no more" Mr..
Smith had posed as a man of ease
and wealth, handling large estates
for his friends and relatives as d.
II version. but with sources of income
that placed him above the common
worries of mankind. .r
III 4 Generous GIycr.
III No one but himself knew that for
81 years he had been maintaining
the appearances of wealth and pros
perity by converting to his own use
the large trust funds placed in his
| When he sent wedding presents
to his relatives of large sums OF
| cash, when he contributed largely
| to church and charity and campaign
| fund. when he lent to his needy
neighbers on easy terms, he was
praised as the liberal open-handed
citizen. None knew that it was the
money of the widow and orphan that
he was giving away, or the funds
OF the cemetery association, nurtured
1 and protected by previous eustedians
that beautiful Oakdale.. Davenport
1ially maintained after the last lot wa:
sold.
Ill Crash Comes mt Last.
III But il is a long lane that, does no.
lltermiItate somewhere, and one can
! not hope to steal by wholesale ant
1tnever be found out. After reporting
III for years cash balances that did me-
exist, after fooling his clients, theil
i1attorneys and the courts for year.
Hby an elaborate scheme of dupiica
j ton of mortgages and securities, tn,
j hole finally grew too big to be GOV
cred up and the opulent Mr.. Smith
ri owned himself bankrupt
III He turned over his $4,000 home
III his stables and all he had to A. w
Wander yeer and w. c. Putnam
prominent townsmen, as trustees fo
i his creditors He admitted short
j age of perhaps $4,000.
III Probing into the strong boxes sup
1i posed to contain the securities of es
iii tates valued at $4,000 to $4,000
j the investigators found them empty
lin others they found securities tina
Hat various times had figured in hal
liza dozen estates.
III The ingenious trustee had been &C
customed to exhibit to group o
ut1IS d bduth VI ColiatCiat fOpi =
q senting the investment of thei
II money. The next week anothe
,H group would find much of the sam
securities representing their ow
funds. In many estates were slip
ii reading, blank mortgage out fo
III, collection" which had done duty i
Il heading off inquiries since Mr.. Smit
had pocketed the money when th
u mortgage was paid off years before
81 Shortage Estimated.
I'll Experts put upon the books, fie
u urcd out shortage as follows:
Il Sheaff estate ...........$ 1904
Eli Kaiser estate ........ 1896
~ Alexander Sheaff, trust 49, 14,0e
n Parker estate 2S,47
81 Bersie estate ...... 3,87
Il Isabella Sheaff. trust -. 1896
81 oakdale cemetery fund -. 1868
81 Total Ssoa 90
Besides this the estate of his yer