The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-05-20
VICTIMS SEEKING
HIGH F|NANC|ERS
Quick Service Auto Company
and Some Others After
Two Promoters.
FLOAT MANY PROPOSITIONS
RAY AND RANKIN DISAPPEAR,
LEAVING MUCH CONFUSION.

Through a series Of high financier-
ing, the Interstate Venture company
an organization designed to finance
projects at random, has gone to the
wall, and its managers, George VIII
liam Ray and r. V. Rankin. have dis
appeared. The firm used the Dooly
block as a base OF operations.
In the wake of the defunct company
may be found much suffering among
local concerns and capitalists willing
10 take chance at new wrinkles IN
finance. Various attempts to locate
Ray and Rankin revealed Monday that
they had registered at the Lincoln
House, Lincoln, Neb., but when legal
representatives in that city called at
the hotel a day later they mad gone.
They are now believed TO be in Kansas
City.
Claude N Manning. local sales man
ager for the Singer and Wheeler &
Wilson Sewing Machine companies, is
mourning the loss of SSz5. A H Pea
body and P. c. Dykes, president and
manager, respectively, of the Quick
Service Automobile company, which,
until recently, had offices in the
Dolly building, are also looking for
Ray and Rankin, who, they claim,
JOlted the company in financing it.
Cyrus G.. Gatrell, secretary Of the state
board of pardons, admits that Ray and
Rankin are in arrears to him for coun-
sci fees and other considerations in
considerable amount.
George William Ray and R. V. Ran
kin came to Salt Lake several months
ago, and apparently in possession OF
considerable capital, opened a new
financing concern, TO be known as the
Interstate Venture company Its OBJ
ject was to promote any business ven
ture that needed capital. While the
managers interested numerous local
business men in increasing their activ-
ity by putting more money into their
affairs, Ray and Rankin are said to
have turned much Of their interest to-
ward mining and irrigation develop
ments-
Rankin becomes Officer.
OR. V. Rankin became member of
pany on a financiering scheme" said
- H Peabody, president Of the Quick
Service Auto company, yesterday, and
was made secretary and treasurer He
assured US that the Interstate Venture
company would be able to build our
auto business into an enyiaSle enter
prise, and for a time it seemed that
he was making his word good.
Presently he went away and we
heard nothing more of the Interstate
Venture company, which, l believe, had
been incorporated under the laws Of
Arizona We naturally became wor-
ried over the condition of the affairs
as they had been conducted by Mr..
Rankin The examination OF the books
of the company that had been kept by
Mr.. Rankin were in most pitiable coa-
ditiOn. They resembled the jottings OF
a schoolbOy and debit and credit col
umps were almost without meaning.
The Quick Service Automobile suf-
fered a severe blow as the result of the
maneuvering Of Mr.. Rankin, but We
have managed to pat the company back
on its feet and are doing business as
usual. But we would like TO locate
Ray and Rankin and we are going to
make vigorous efforts to find Rankin.
we will demand an accounting from
him. and if he cannot tell where some
of the funds Of the company went to
it will 90 hard with him We have no
definite idea as yet as to the actual
arrears.
Manning Also Searching.
Mr.. Manning of the Singer and Whee-
Ter q Wilson sewing machine company
stated last night that he had entrusted
SS25 to the care of Ray and Rankin as
an investment with certain cOnSidera-
tons Through attorneys and personal
efforts he learned several days ago
that they were in Lincoln, Neb., but
later attempts to reach them there
have completely failed Mr. Manning
says that unless Ray and Rankin ap-
pear in the very near future he will file
complaints against them.
When litigation arose betweenu the
Interstate Venture company and the
Verona Mining company, Ray and Ran
kin put their case into the hands of
Attorney Gatrell and after extensive
from sight, leaving the attorney and
others that had been interested in a
cloud of mystery. Private detectives
have been at work trying to locate
Ray and Rankin.