Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-06-13
TRANSACTIONS OF p. M. JoiciI
WEALTHY LAKE MILLS BANK.
Err, BEING PRosEp.
CHARGED WITH SELLING
BAD NOTES TO BANKER
Lake Mills Bank Not Involved Z
Transaetions--Rumo Of Weeks Gu
inmate in Federal and County OF
GERS Taking Matter up-Joies ID.
vested Heavily In Northern Iands.
Special to Times-Republican.

Special to Tfmes-Repubiican.
Lake Mills. June IA few months
ago the leading citizen OF this town.
to whom a grand farewell reception
was rendered when he left. president
OF the towns largest bank. worker f0K
everything that seemed for public goe
prominent member OF the MethodA
church--on the whole a man who
every man. woman and child In L
whole country around liked and
spected-now under fire on seri,
charges involving tho alleged circu, J
ton OF fraudulent notes, which no SOL
to his brother bankers and othc
totnling from 500. .o0G0 to x150.0OO dt
ing the past ten years, That Is II
situation in which p. NJ Joice, VIII
also had Offices In Minneapolis and
Paul. hnds himself at this time, W
investigation pending by the fede
grand jury. and under considerable,
by the state authorities.
According to the best advices oh
tainable Joice. who was until last win
ter president of the Lake Mills Ma
tional Bank. has noated bad paper.
some forged and some vaiueless for
other reasons. to the amout OF over
100000 County Attorney Bclsheim OF
Winnebago county. Is authority for
tho statement that the total amount
Involved wfil approximate 100000.
Grand jury to Investigate.
The matter Is to be investigated. Il
is understood on June 15. by the grand
Jury of the district court OF the
United States. II. NJ. Martinson, one
OF tho officials of the bank of which MIR.
Joice was formerly president. has
been served with subpoena TO Ap-
pear before the grand jury on that
date. to give testimc~y In regard TO
the alleged crooked dealings OF Mr.
Joice IT is also reported that N
South Dakota creditor has brought
suit against Mr. Joice In federal court
upon note he holds endorsed by
Joice. which IS said to be fraudulent.
II IL understood that the deals OF
Joice we're not coarse enough to in
yolve his own bank All his paper
was sold over his personal endorse :
ment, to bankers in other towns.
They were only too glad to handle
an occas ional note for a few thousand
dollars. payment OF which was guar
anteed by r. ~. Joice, who was con-
sidered one OF the most stable men.
financially, in the northwest Such was
his reputation, that for even ten years
back, banks everywhere have been
handling the paper presented by Aim
without question.
Real Estate Speculation.
Real estate operations in the north
west which required more ready funds
than he had at his own command, are
said to be the primary cause or tns
downfall of the man who was always
supposed to be one OF the foremost
flnanciers OF this section. In order TO
prevent loss, he had TO secure moro
money than he could honestly com
nand. It started by using accommo-
datiou notes signed by some of his
friends. and ended by using such
notes. If is alleged, without tho formal
ity of having tho genuine signature OF
tho supposed bunker. Well grounded
reports. arc to the effect that the name
OF j. B. Keeler, vice president of tho
Lake Mills bank, was used to the
amount of about $4,000. This claim,
however. has been taken up by the
friends and relatives OF Mr.. Jolce. So
also have the claims of great many
banks who held his paper. 1t was au-
thoratively stated Sunday morning. by
an official In position to be fully con-
yersant with ali the facts In the case.
that there are several unsettled claims
still outstanding. What disposition viii
be made Of them is not known, for Mr..
Joices friends are exceedingly reti-
cent about divulging their plans.
Under Suspicion Some Time.
For several months back. many ru-
rnors to the effect that al had not been
as il should In Joice's business meth
DDS have been In circulation. but 1t Is
only within the past few days that any
definite Information on the subject has
been procurable. Even now, when real
facts are known. IL was Impossible for
reporters to get any statements OF facts
from residents of Lake Mills. Iosce
was the friend OF every man. woman
and child In the vicinity. and had prob
ably done more TO build up the town
than any other citizen the town ever
had Where inquiries We're not met
with curt refusal. the questioners were
made to understand that Lake Mills
feels the blow keenly. and deeply re-
grets the ill-fortune which has befal-
en- her foremost citizen. Even men
who would have lost by his manipula-
tions, had their claims not been Sc
cured, say that they have only kindly
feelings for Mr.. Joice, and feel that
he was largely a victim OF circnm-
stances.
It had been charged that the funds
of the Methodist church, or which Mr..
Joice was treasurer. had suffered. but
n careful auditing OF the church ac-
counts for years back showed that 20
that trust he had remained true. Such
was not the case In the matter OF the
estate OF OF Rev. Mr. Dahl, q former
Lutheran pastor. In Winnehago county.
who had a parish near Leland. Joice
was executor wItnout bond. and nau
not prompt action been taken to have
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