The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1910-08-16
RANN NAMED AS LOOTER
OF ILLINOIS CENTRAL
Road May Sue Suicides Estate
for $1,5O0,OOO Loss.
HUGH CAR REPAIR GRATING
Tennessee Chancellor Orders Memphis
Car Company Officials to Restore
100000 Obtained by Conspiracy
-Rawn's Name Heads List.

Chicago. Startling legal disclos-
ures connecting Ira G. Rawn. former
vice-president of the Illinois Central
railroad and later president Of the
Monon, with the Memphis car COM
pany in the conspiracy by which, it is
alleged, it defrauded the Illinois Cen
trail out of hundreds of thousands OF
dollars, and furnishing a motive for
Rawn's alleged suicide, were made
here. The disclosure came in a de-
cree handed down at Memphis by
Chancellor F. H. Heiskell in the
Chancery court of Shelby county,
Tenn, by which the railroad is to re-
ceive from the car company restitu-
tion of 100000 in cash and property.
A list of seven former officials of
the Illinois Central at the head of
which stood the name of Ira G.. Rawn,
was contained in the decree as stock
holders in the Memphis car company.
The decree absolves the car COM
pany from further civil prosecution,
but does not prevent any criminal
proceeding against the officials. This,
it is said, will soon follow. 1t is
shown in the decree that the car COM
pany was capitalized for 100000,
subscribed ia 1900 shares of 500
each Of these F. H. Ward of Mem
phis held five shares, the remainder
was held in the name of H. C. Oster-
mann, in part for himself and in part
for the seven officials of the Illinois
Central, who paid into the corpora
ton $4,000, or totally sum of $15,-
500.
At the time the stock was issued
the seven officials occupied the fol-
lowing positions with the road: Ira
G. Rawn, vice-president, in charge of
operation; Frank B. Hartman, gem
eral manager; William Renshaw SUI
perintendent of machinery; Joseph e..
Buker, assistant superintendent of
machinery; John M. Taylor, general
storekeeper of the Burnside shops,
Chicago; H. McCourt, superintendent
of the southern lines of the Illinois
Central, and w. S. King, superinten-
dent of the Yazoo &c Mississippi Val
ley road.
McCourt and King have made vol
untary cash reservations of $13, 5000,
which is the amount of the dividends
received by each of the seven stock
holders from the car company. Mr..
Rawn never made restitution. Most
of the specified stockholders were
discharged by the Illinois Central dur
ing recent Investigations by detec-
tives employed by the road.
The evidence will be used in GRIM
inally prosecuting them when the
case goes before the grand jury.
Chicago The estate of the late
ira G. Rawn, former vice-president of
the Illinois Central, and later presi-
dent of the Monon Route, may be
sued for $1,5O0,000, the whole
amount of the alleged Illinois Central
car repair graft.
This announcement was made fol-
lowing the disclosures in the case of
the Memphis Car company that Rawn
held stock in that corporation.
Each of the conspirators who
! took part in looting the railroad COM
pany is responsible for the whole
amount of the thefts, said Attorney
Murray Nelson. THE suits against
the Memphis Car company and the
Blue Island Car company are settled
in full, but only as far as the corpor-
ations were concerned, The individ-
ual stockholders and officials of the
corporation are not necessarily i'm
mune from civil suits. The Rawn es-
tate will be sued"
From information CLEANED at the
offices of the Illinois Central and the
office of the states attorney, it is
more than likely that there will be
no criminal prosecutions.