Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1912-01-16
CENTRAL IOWA oRANIIE COM.
pANv or WATERLoo OWES
@11oeoo WITH NO AssETA
AMAZING STORY TOLD COURT
" PRINCIPAL sTockHoLDER
E. a. Besus Says Huge Sums Wsrs
Lost Ii Ordinary channsls o. Dusi-
ness emory ;s Poor When ouss-
toned in Court -Asorrison Bank IA.
VOWED in the sumsef $4,000.

months time. including loans to the
amount Of $4,000 from the. bank Of
Morrison. Iowa, was the astonishing
statement made on the witness stand
Monday by e. A. Boggs. one Of the
owners of the Central Iowa Granite
Company. before Special Referee !. d.
Liffring. appointed by Judge Platt to
take testimony regarding an investiga-
ton into what has been done with the
property OF the granite company.
The case came up on application of
The First National Bank OF Dunnell.
Mimi. and the court appointed Mr..
Liffring to take the testimony. which
is being taken down by court re-
porter. Mr.. Boggs was on the stand
nearly all day and was subjected to
q pointed examination by the attorney
for the Dunnell bank and other cred
itors.
Recently property Of the granite
company was transferred by bill of
sale to James Porter and a mortgage
covering property valued at $1,000 was
also executed in favor Of Porter.
eogss' Memory 10 Slack.
The investigation has been con-
Quoted mostly along the line to ascer-
tain the reason for giving this bill Of
sale and mortgage but the memory of
Mr. Boggs has been very poor on the
subject The large majority Of the
questions have been answered with
the statement that II do not know"
or Il can not state"
Il developed, however. that shortly
prior to giving the bill Of sale and
mortgage Boggs visited Morrison.
where he had conference with Por-
ter and later visited Reinbeck, where
he had talk with r. J. Williamson.
The bill of sale and mortgage fol-
lowed but the witness could not or
would not say whether he offered to
give the bill of sale or mortgage or
whether Porter or Williamson asked
him to. Asked whether the documents
were executed to put his property out
Of the reach Of his other creditors. the
witness could not say that they were
or were not.
Mr.. Boggs was pinned down to the
question whether or not there was any
other consideration for the bill OF sale
or mortgage other than the previous
Indebtedness to the Morrison bank, but
would say nothing further than that
services had been performed by Will
hanson and Porter
Williamson, and Porter were rep
resentins the Morrison bank and not
you. were they not?" asked the attor-
ney.
II can not say" was the reply.
The bill of sale and mortgage were
given Porter individually and not as
trustee for the Morrison bank, were
they not 2"
Yea
WAS any money paid you at the
time or was there any other considera-
ton ?"
# mo money was paid me and the,
only other consideration was their;
services - Z
Morrison. Bank lnvoIvsd. {.
Several months ago. It will sbe le-;
membered. the bank OF Morrison near
Reinbeck found itself in trouble. The
press DISPATCHES sent out at the time
stated that the cashier. e. H. Reim-
ers., loaned $50. 900 or more to irre-
sponsible parties. principally "a monu-
mant hrm. in Waterloo"
s. The directoIu met and made good
the amount: James Porter was the
principal stakeholder. He put up $780,
900 in cash. Reimers turned his prop
erty over to his partner in the grain
business and the. bank. at that time
was not able to. recover -
The recent Investigation tends to
show that the transfer of the granite
company's property here was made to
cover previous Indebtedness and was
to prevent other creditors OF the Wa
terloo concern securing, any relief.
Borrowed Money Of Many Banks.
In the list Of banks from which the
witness had borrowed money. the fol-