The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-10-14

visited his company's land and made a
$4,000 payment on the property. This
did not meet with the approval of
Thomas and several other local stock
holders.
The company is still intact Local
investors have never received a divi-
dend, as the timber concern is con-
verted into a holding company. L. H.
Greenwood, Of GIL Kansas avenue, who
is interested in the company, said this
morning:
'I visited this land in company with
Mr.. Thomas and Mr.. GODDARD but am
not prepared to say just what the pro-
perty is worth. Shortly after the COM
pany was organized, the price of lum-
Der dropped $40 thousand feet. We
have been holding on; and perhaps
some day may make some money. 1 re-
gret that Plass is in trouble, but know
nothing as to the merits Of the case"
do you believe that the trouble of
the Redeemable Investment company
will involve the Norman Plass Lumbe
company" he was asked.
Il cannot say as to that" replied Mr..
Greenwood, but do not think it will.
However, I understand many of the
Redeemable stockholders are interested
in our company, and I have been told
they control most of our stock"
Whiting Has Confidence.
A. B. Whiting, of the Whiting Paint
and Glass company, 628 Kansas avenue,
is a stockholder in the coal company
organized by Plass.
L have great confidence in Mr..
Plass,' said Whiting today, land 1 hope
the press and public of Topeka will
not be hasty in condemning his actions,
1 think it will hurt Washburn college
and Topeka to do so, and 1 think Mr..
Plass Is perfectly honest in Intentions -
Three years ago Whiting bought a
block of stock in a coal company. six
teen months later" said Whiting,
''Plass found it advisable to enlarge and
strengthen the company and take in
some large investors, SO that we could
work our holdings more conveniently.
We then reorganiZed. Every stock
holder in the old company received a
cash dividend of 10 per cent on his in
vestment and stock in the new company
equal to the amount he held in the old
company Plass is now out of the coal
company, but Mr.. Whiting still thinks
he has good investment. Il would
have probably invested in the lumber
company also, had 1 felt able to do so,''
said the paint man.
Paid Prof. Guerne Back.
Shortly after leaving Topeka, DR..
Plass was threatened with a lawsuit
by Prof. Guerne, of the Washburn fac
ulty. Guerne had bought $500 worth of
/ stock IN the coal company at the same
| time Whiting and others invested. A
| few months later Guerne became dis
couraged and threatened to sue PIaSs
| on charge of misrepresenting the
proposition. Whiting, acting as agent
for DR.. Plass settled the difficulty with
| Guerne's attorney. when wrote
Plass that Guerne was dissatisfied, -
| said Mr.. Whiting, "Plass wrote me that
| he was pinched for cash and sent a so
day note for the full amount payable
| to Guerne. When this note came due,
! PlasS paid it with interest, then when
! the coal company was reorganized, he
/ sent Guerne check for 10 per cent on
| his investment during the time he was
| in the company" said Mr.. Whiting.
| Plass came to grief when the Re
! deemable Investment company OF
! which he is president, became involved
| with the federal authorities on a charge
! of misuse of the mails Federal Of
! ficers claim Plass used an alleged en-
| dorsement of Secretary of the Interior
| Richard A. Ballinger, the late Associate
! Justice David J. Brewer of the United
! States supreme court, Senator Charles
| Curtis of Topeka, and several Kansas
! congressman in furthering the ends OF
/ the Redeemable company
| When the offices of the company
were raided Thursday. Manager
! Charles H. Brooks was arrested and
the books of the company and several
| thousands of dollars in cash were
seized. Brooks was in the Rialto COM
pany at St Lois which caused Senator
/ ]. r. Burton's undoing.
| The Redeemable company was organ