The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-04-30
10 i s45,ooo IN STOCK SOLD

certificates of Deposit Be
fore He Disappeared.
noecial 10 The Tribune
BoIsE. Ida. April 29.-Southerr
.6sho bankers. including many OF the
.r8ost-h headed and coolest business men
Il the west, arc still wondering how they
>snnened 10 be Victims OF one william
Matthews. general director Of the
*oyerland Fire Insurance company.
ho. II appears, recently decamped
-lsh s2o. 900 OF $40, 900 OF their cash.
4 IThe Overland Insurance company was
LIVER licensed TO do business In this
I|afe. II never reached that stage. After
Xatthews had taken charge OF It's stock
Ia sold s45, 900 worth OF the paper, col
kcfing 90 per cent down on every sale.
IL paynents being made principally in
@rfIdcates of deposit, he made arrange
uents for q stockholders meeting but
4fore the date set disappeared taxing
"a money he had collected with him.
ma company was Incorporated, however,
1rch i6. 1912, with a capital stock OF
690oo Of which but $500 was sub
rIbed Mt that time The par value
the stock was 500 share. 500
rplus was later added. The FIVE IN
operators were ". T. Pierce and w:
Puckett, both of Boise, president and
cretary, respectively; David J.. Evans
MaIad w. j Homer and w S. Nc
ornIck, both OF Salt Lake.
|nds Task Is Easy.
Homer, it Is understood, conceived the
81 OF floating state fire insurance
mpany IN Idaho, He came to Boise
a that purpose, but failed 10 make II
success, and when Matthews appeared
+ ron the scene, backed by his reputa-
o7i as organizer of the Montana Fire
<surance company. he started out to ac-
cmpish what Homer had failed to do.
j1feresting Boise bankers was Mat
Hewss first step. When he secured their
torsement he canvassed the f1nanciers
Nd capitalists all over the state, meet
Ii with pronounced success In southern
1eho The bankers In the northern
Wrt OF the state were not so anxious
ID buy stock.
Matthews placed a large deposit to his
pEn account in the Idaho National bank
NJ This city and OF which George Fletch-
is the president When he was ready
y cash the certificates of deposit he
'1ok them TO the Idaho National. There
represented that before the company
Huh secure permit 10 do business in
us state it would. through its agent,
4Ne 10 show the insurance commission
the actual stock subscribed in cash.
ne certificates OF deposit were ndorsed
1d the Idaho National cashed them
FIth Matthews's additional indorse-
lne to Get Away.
Ihe Stockholders did not discover what
tithews had done until they were
I1ed TO meet and launch the COMPANY
|'atthews had sent them notices When
lailed TO appear at the meeting. these
I-..u- neaded bankers realized that they
sle holdine the SACK and they have
2n on still nunt for him ever since.
~ oraer TO make soliciting for the
'eh IN the company comparati lively
~. Matthews first secured highly
uering Endorsements OF the plan and
2srs OF recommendatior. T.. F. John
q cashier OF tho Boise City National
ny, admitted, when interviewed. that
mad given Matthews letters OF this
n,. u had faith in the proposition
iooked good TO me- he said. 81
~ that | wrote letters 10 my friends
4tprsinG ztls II and Informing them it
heu IKE good deal " He said that
'en Matthews approached MIN on the
ne mad letters from other prominent
pankers. While soliciting the
~ MATTHEW'S boasted OF the claim 1t
sA.en MN Just twenty minutes In
1cn 10 sell Senator Brady.
ad List of Financiers.
t,n ns prospectus of the officers and di-
! .efs 10 be elected by the company
, X'<n tne organization was 10 take nlace
used extensively by Matthews In his
n[He una ne caught every banker on
nss ior block OF stock. It IS as fol-
2 eI<resident-James f. Clinton. Jr. vIce
slaent Boise City National bank.
se presidents-James 2. Brady. pres
e;taa sfans- Sfa Mississippi congress and
president OF the First Ma
pehk, st. Anthony; David l..
5ns. president OF the Ireland 81 Co
II lkers, Malad % ~
1ss sassSiferNF sits y, Johnson. cashier
i City National bank, Boise.
inera manager and secretary-I w
snss, ~s, nre underwater. New York,
q snsIa couusel-Hawley, Puckett G.
4 2srd OF directors-w. s Mcco-n,c,,
n <iaent Mccormick e. Co, Salt i.ake.
PES IL. Brady, PocateIlo, w SSahe' Sss
<ri,,p PRESIDENT First National bank Po-
6rsyr,.p paV1d l., Evans, Ma1ad; q. 70.
Xsidsns focatello; Fred w. Gooding,
'ozhone, and Ine ex FIRST FIRST National bank,
ID Noss smoolgrowers nssocia ton; Col 4.
yetta. & president First National bank.
usnncs herman ago J. Rossi general fire
Liza. !, hawley, Puckett e. Hawley
|IIis =, 'atnes %; Clinton. Jr., Boise. and
p'am A, Matthews. "iu
Mccormick. referred TO IN tho
rrisnS que OF tho incorporators OF the
~ Il aIsna insurance company, said when
q'Halch ch was presented to him, "Aii
e ms nnVw su about bout this is that Matthews
4, lock; think $1,000 so51i worth amount int
y rcssa wrote him that | would not not
~ in,a me option and ! did not put a
.. .nlo the deal in any way"
80 wants are the quickest, cheap,
u unrest means Of accomDlisb;np
D. u the most essential things Of
III pnh9 NFsRTAl nm