The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-07-21
Judge Mcpherson Compares the
Schemes of st. Louis Promo
ter to Mississippi Bubble.
APPOINTS RECEIVER
FOR THE PROPERTIES
So Far the American Woman S
League Is Not Included in
the Receiyership.

ST, LOUIS, July 20-The petition, OF
223 creditors for q blanket recelvershil
of the property, companies and enter
prises of E. G. Lewis was granted IL
the United States circuit court today
by Judge Dyer and Mcpherson.
The courts decision will take tht
property out of the hands Of tho re
organization syndicate which has beer
in charge of it for nearly three months
The st. Louis Union Trust company !:
the receiver.
In his opinion Judge Mcpherson com
pnred the Lewis schemes TO the Missis
sippi bubble and other historic get rlcf
quick projects, and declared that If Z
fraction Of the allegations made in the
rcceivership petition were true th'
Lewis affairs constituted one of the
most gigantic frauds of the century
The receivership suit was filed or
Juno l3,
Alleged Scheme.
1t was alleged that the reorganiza
tion plan was n scheme in Lewis be
half to deprive the creditors further OF
their Just claims.
A foreclosure suit was also filed
against the University Heights Realty
and Development company, the Peo
pie 8 Savings Trust company, the Met
ropolitan Life Insurance company and
Nathan Frank, a trustee.
Judge Dyer early in June appointed
the st. Louis Union Trust company re
ceiver for one tract Of land owned by
the University Heights Realty and De
velopment company, The company has
since reported that it found the books
relating to the property in a tumble
with many cross entries and with n
tangle Of debts with other Lewis cor
norations, particularly the Lewis Pub
fishing company and the Peoples Saw
lDgs Trust company.
Walter D. Coles. referee in bankruptcy
was appointed to conduct an inquiry into
the assets of the concern. The Lewis
s5,0o0.o0o,
Concerns Involved.
The largest Of the concerns affected by
the recelvershlp order are the University
Heights Realty and Development com
ranv capitalized at s1.o00,ooo: the Lewis
United States Fiber STOPPER company,
81 .000. 900: the Peoples Saving Trust
company 100000. and the Development
and Investment company. 100000
Whether the American Woman's league.
an orga nization with branches throughout
the United States and With a membership.
Lewis declares. to number 10. 900. will be
included In the receivership. attorneys
Claude D. Hall. who filed the petition
In behalf of 233 creditors by which the
receivership was brought about said he
was positive that the assets OF the league
would be included In the property which
the receiver is TO administer. Eugene II.
Argent, attorney for the reorganization
syndicate. which since April has been IN
charge OF the Lewis interests. was just
ms positive In asserting that II would not
be included.
During the reccIvership hearing the
counsel for the reorganization syndicate
declared TINT the University Heights con-
Germ had land worth 81. 000. 900 but that
the creditors would lose heavily II the
land were placed on the market at this
time.
Upon the motion of United States At
torney Houts JUDGES Dyer and McPher-
son Issued an order Thursday afternoon
authorizing the special agents OF The ST,
Louis Union Trust company. receiver for
the r. C. Lewis properties. the postofiice
inspectors and agents Of the department
Of Justice TO examine al such times as
they may see At all books. papers. rec
ords and written documents of the Lewis
enterprises.
This order was made in order to fur
nish the government with all the in
formation II desires to carry on the
prosecution. in which il Is charged that
= g. Lewis used the mails in an attempt
to defraud.