The Owosso times. (Owosso, Mich.) 1897-1926, 1913-03-14
APPS TRANSACTIONS.


Av" " monls
Detroit, March 12.-The Detroit
Journal prints the following, which
is OF local interest as many in this
vicinity are financially interested in
the General Founders Co.:
The whereabouts of Fred ADDS
and wife, who organized, the Michi.
gan State Life Insurance Co., tie
General Founders Co., and other con-
Germs, as told in The Journal two
weeks ago, are still unknown. The
general belief is that the couple are
in South America.
This much Is known: On Feb. 10
last he drew over 100000 from the
sale of his stock in the Michigan
State Life Insurance Co. to Mr.. Ar
thur F. Hall. That he spent much
time and money in the barroom of
the Pontchartrain on the day fol-
lowing, Tuesday Feb. IL, and that
he and lis wife left the next day,
Wednesday.
In view of the various operations
throughout the state and in Illinois,
the impression mas gained a hold on
many Of his victims that Apps was
a sort of financial genius. But those
that know aim most intimately de-
scribe him as man of not more than
ordinary ability, an insurance agent
of ordinary attainments and a man
who had little or no personal mag
netism except with the fair sex. On
the other hand, he was much ad-
dicted to liquor, lived high and had
little regard for money.
The real genius behind his opera
tions was his second wife and
Arthur Jones, local attorney. Be-
fore her marriage to Apps his second
wife was Mrs. w. Grove, wife of a
minister, from whom she obtained a
divorce for cruelty. Her folks live
in Union City, this state. After her
divorce Mrs. Grove entered the insur-
ance field and while in that occu-
patton made the acquaintance of
Apps, who was also selling insur-
ance. The two worked together and
Mrs. Grove followed Apps to De-
troit, when the latter transferred
the field of his operation to this city.
Organizes Company
Apps organized the Fred Apps &
Co. and for a time his wife and Mrs.
Grove worked side by side in the
Office. However, it was always Mrs.
Grove who accompanied APPS on mis-
business trips and the clash came
when Mrs. Apps filed and obtained a
divorce in the Wayne circuit court.
Subsequently, it is said Apps mar
ried the fair divorcee. She is
credited with being a shrewd and
clever woman and there is no doubt
that sac had an overpowering influ
ence over Apps, who being 80 years
old, was eight years her senior.
Jones, the third member of the
triple alliance" is local attorney
of but limited fame. The extent of
his ability only appeared after his as
sociation with Apps and .drs. Grove
Apps. 1t was the latter wao "discov-
ered" him. Like Apps, Jones made a
lot of money from the maze of opera
tions that were subsequently con-
Quoted.
These operations involve the fol-
lowing firms and corporations: Fred
Apps & Co., the Michigan State Life
Insurance Co., the General Founders
Co., the General Security Co. of Chi
cago, and the Allen-Brown- also
Of Chicago.
The history of these concerns is
much involved, but briefly told, is as
Apps came to this city to sell in
surance for the Missouri State Life
Insurance Co. of Kansas City, Mo-,
and did fairly prosperous business
On a very profitable contract.
He organized the Fred Apps & Co.
to write the insurance ror the Mis-
souri, company. subsequently he can
celed his contract witn the Missouri
State Life Insurance Co. and organ
zed the Michigan State Life Insur-
ance Co. The stock of that company
was eagerly taken up by small bank
ers over the state, who paid 500 for
each share of $50. There were 1000
shares altogether. For his part Apps
.ook 80 shares of the new company
md obtained for Fred Apps & Co.
he exclusive state rights of writing
insurance.
Melted Firm $4,000
This contract netted the firm about
$4,000, but whether this amount
was profitable or not is debatable,
,ince tle expense of securing the bus
ness was quite high and Apps as
president of the Fred Apps & Co.
charged himself with salary of $5,-
100 per annum.
In 1908 Apps branched out. He
under the laws of South
the General Founders Co.,
VITA capital of s1.000,000. The
CONTINUED on page six) j
Clarence Case, superintendent Of
he county poor farm and Mrs. Ida