Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-03-11
ABSTRACT FRAUD NETS GOOD RE
TURNS.
Individual Nominated for Collector Of Gus
toms Has a Loan Company Ready
TO Take In But Never
Pay Out Cash.

TT seems that the numerous fraudulent
schemes by which Cadet Taylor nominated
for surveyor OF customs, has been enrich
ing himself at the expense OF innocent
dupes have not been exhausted in The
Bees exposure Of his record. More are
turning up from day to day. Two that
may be OF interest to the public are the
bond investment deal and the abstract
fraud which his concern worked.
zone or two cases will illustrate the
bond investment project. November 4. 1892
John c. Nelson invested in one Of the
Globe Loan and Trust compAny's ten-year
investment bonds. The bond was for 81, OOO
payable 500 each year. Among the condi-
tons wss one that the interest on the
money already invested would be paid by
the company deducting It from the annual
payment required from the investor An
other condition was that after five annual
payments had been made the party in
vesting might demand the surrender value
of the bond provided he gave notice Of
his intention in writing within sixty days
before an annual payment day.
Pays In, but Gets Nothing Back.
NELSON made his five payments, $500 in
all, and IN August, 1897. notified the loan
company that he would demand the sur
render value OF the bond during the next
November. He did demand, but that was
all he got out OF it. After repeated efforts
60 collect at least part Of the money he
placed the matter in the hands OF an at
torney and brought suit The defendants
sought TO show that they had no evidence
of fact that he was the real owner and
holder OF the bond or that he was the
interested beneficiary, Meanwhile Nelson
had assigned to him the right and title OF
John II. Parker in a similar bond on
which i've payments OF $50 each had been
made and he included this In his suit The
court gave him 3 judgment for $524. but
the writ OF execution was returned not
satisfied. but after diligent and careful
search no goods or ehattels or lands OF the
Globe Loan and Trust company could be
found in the county OF Douglas.
II. @. Meilhede had a similar experience
with the Globe people. He had invested
go q year for five years IN such an in
vestment bond and after the fifth pay
ment demanded the surrender OF the bond
Failing TO get It he brought suit for $3.50
and interest and got judgment for S2s2.
That, however is all he has been able
10 get.
TayIOE Has Another scheme.
Another OF Taylor's schemes which cost
the trusting public dearly was the Gate
City Abstract company, After the COM
pany had been organised Taylor induced
many OF his friends TO place money In the
concern, assuring them OF large returns
upoa the Investment Among others, DR.
s. X. spaldinE sunk 1850 In the scheme
After a time the books OF the company
and it's privileges we're leased to the Globe
Loan and Trust company under a bond
from the abstract company, guaranteeing
the abstract. DR.. spalding was inveiglec
upon this bond Some time later a faulty
abstract was made and the parties sought
20 recover on the bond. The matter huns
fire for some time. but after a futile figh
an the courts a judgment was rendered
for something like 5000, When the exscu
ton was issued II was found that DIT
spaldinE was the only one on the bOnS
who had anything upon which 70 levy an,
the doctor after considerable trouble wa
finally compelled to settle the whole matte
himself"