The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-03-09
ONE SWiNDLER CAUGHT.
WAS HEAD OF GREENWOOD LOAN
AND TRUST CONCERN.
Following Disastrous Business Ven
turc I'm South Carolina Town. by
which Certain Churches i'm this
State are Said To Have Lost Money.
Young Man Is Arrested I'm Okla
homa.

Greenwood March 3.-Quite a num-
ber OF people i'm different sections of
the state will be interested in the
news OF the arrest I'm Oklahoma of
w. j. Nichols. organizer and for some
time president and manager of the
Metropolitan Loan and Trust Com
pany. of Greenwood. An indictment
against Nichols was handed out by Dis
trict Attorney Ernest Cochran some
a Federal grand jury. so the arrest of
Nichols Is the next step In the pro-
ceedlngs which, as stated above will
be followed with much interest not
only In Greenwood. but especially by
the Baptist congregation of Hartsville,
the Pendelton Street Baptist Church,
of Greeuville, and others. The two
churches lost a pretty good round
sum each, though the Hartsville con-
sregation by timely action. which.
however. precipitated the fall of the
concern. managed to get some of It's
money back.
Nichols came here in the spring of
1907. OF perhaps earlier in the begin
ming OF the year. He organized the
Metropolitan Loan and Trust Com
pany. proposing to lend money at
low rate OF interest, five and six per
cent. One part OF the scheme was
that the proposed borrower should
pay monthly instalments befor secur-
ing the money. and later a certain per
cent OF this had been paid in, then
the borrower could secure the amount
wanted as loan. To one who want
ed money right now, this was not at
tractive and in many cases 1t was pro-
posed to the concern and accepted that
this money should be paid In a lump
sum, and the loan secured at once
The Hartsville Baptist Church at
that time was engaged IN building a
new church, and the Pendelton Street
Baptist Church was building an ex-
the low rates Of interest and paid
down the required bonus" or what
ever II should be called. The Harts-
Vile people. II Is said, did not get their
money when they had a right to ex-
pcct Ii. as II is alleged, and as they
n sent N,chons's concern check
p oh
b lding committee, NJ. j. J. Lawton
c &c here post haste 20 Investigate
NICHOLS had tho day before left town,
leaving his Office and effects in the
hands OF clerk and stenographer
Upon the advice of his attorneys,
Messrs. Grler & Park. Mr.. Lawton
had attachment issued OF the funds
of the concern In the local bank and
got good part OF II back.
Nichols had gone from here to At
lanta and had apparently lived high
as pretty good-sized draft came In
from the Piedmont Hotel just after
the money had been clinched for the
benefit Of the Hartslvlle Church. Post
office Inspector Pulispher came here
10 investigate with the purpose Of
getting after Nichols on the charge
OF using the mails with fraudulent in
tent. This was the summer OF 1907.
the flight of Nichols having taken
place early In June. For some reason
the matter was placed In the hands
OF Inspector Gregory, who Is the
slueth par excellence of the DEPART
ments inspectors in this section. He
came here and made a thorough
study OF the case and has been look
Ing for him ever since with the re-
suit. as stated In the beginning that
he was arrested last week In Okla
homa. IL Is supposed that Nichols
will be brought to either Greenvile
or Columbia for trial.
Last year some time, a letter was
received here by the attorneys for the
Hartsville people. Grier e Park, from
Nichoils, wanting to settle the claims
and saying that unless they would
settle, he would leave at once for
Paris and lose his identity i'm the gay
French capital. The letter had no
legible postmark. No attention was
paid 20 the matter. save that Is was
turned over 10 Inspector Gregory
Nichols Is young man about 35. He
Is native Of GreenvIlle. North Caro-
lima. and graduate of the University
OF North Carolina Of the class of
1897. He was a book agent long
while ana finally located here with
the disastrous consequences a1,,odv