Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1913-11-12
BANKRUPTCY Law
NOT FOR CROOKS Ok
Jobbers Succeed in, Convicting
Man Who Concealed
IT,. Goods.

For a period of about two years
prior to December 1911 Hans M. Jen-
sen conducted clothing and gents
! furnishing business at" Alb Central
avenue, Minneapolis, and had the con-
fidence Of all Of the jobbers of the
Twin Cities. He had formerly been
engaged as travelling representative
Of one of the leading wholesale hous-
es and was considered a good sales
man and man of more than ordi-
nary business ability.
On December 26, 1911, he filed
voluntary petition in bankruptcy
scheduling his assets at $1,000, and
his liabilities over $4,000. , The as
sets were disposed of, 1929 being
realized therefrom and in June, 1912,
the estate was closed, the total diyi-
dends paid being little over 20 per-
cent. The court granted the appli-
cation of the bankrupt for discharge
and he was free of all debts.
During the proceedings in bankrup-
toy the debtor was examined as to
his assets and repeatedly testified
that he had turned over to the trus-
tee all Of his property Of every kind,
nature and description, but was I'M
able to account for the shrinkage of
$4,000, and the amount he invested
in the business originally. After testi-
flying as to disbursements and giving
his testimony the most liberal con-
struction, there was still in the neigh
borhood Of $4,000, which he was un-
able to account for. A further hear
ing was ordered at which the wife
and relatives of the debtor were sub
poenaed and before the hearing was
had, the debtor arranged to pay the
court the sum of $4,000 and allow the
hearing to be abandoned.
Several claims of relatives were
disallowed by the court, it being
shown that there was a serious doubt
as to whether any money had ever
been loaned or put into the business
as claimed by the debtor and the rela-
tives. Other claims in favor of rela-
tives were disallowed for the reason
that the parties had received prefer
ences short time before.
The debtor we presume felt that
inasmuch as all proceedings were
closed and he had obtained his dis
charge that there was no further oc
casion for concealment of his trans
actions and in September 1912, the
debtor rented a store at Cokato, MINI.
The travelling salesman for one of the
creditors of the bankrupt remember
ed the failure and that it was suspect
ed that all assets had not been turned
over to the trustee, and the matter
was reported to the Northwestern
Jobbers' Credit Bureau. An investiga-
ton was Immediately made and it
stock, amounting to about $4,000, had
been taken from the stock, shortly
prior to the voluntary petition in
bankruptcy, and on November Goth,
1911, shipped to Fargo, N. D., and
there stored in the barn of the bro
Their of the debtor for several months,
and in August or the first part Of Sep
TENDER, 1912, shipped from Fargo to
COkatO.
The shipment from Minneapolis TO
Fargo was made in the name of A. J
Preuss, addressed to him at Fargo
The shipment to Cokato did not indi
cate who the consignor was, but was
directed to A. M. J>& Co. The debtor
was in full charge of the business at
Cokato and received the goods, paid
the freight, rented building and ad
vertisements in the local paper were
made in the name of Jensen and Jen
sen Clothing Co.
sent to Cokato and the debtor inter
viewed and some discriminating ad
missions made as to his connection
with the business and it was also
found that fine fur goods were being
offered for sale. The matter was sub
mitted to the United States Distric
Attorney and warrants were ISSUED
for the arrest Of the debtor and III
was arrested and possession was tax
en- of the stock at Cokato on Novem
Der 3rd, 1912. A petition for the op
ening up of the proceedings in bank
ruptcy was filed with the court an,
Mr. Galbraith of the bureau was al
pointed receiver and was later elect
ed trustee.
Indictments were later foun
against. the debtor on the ground tina
he had concealed assets from the trus
tee and he was brought to trial i
April, 1913, at which time there wa
a disagreement of the jury, there be
ing seven for conviction and five 70
acquittal. One of the principal arg,
ments used by the defendants bein
that the title to the assets found i
the possession of the debtor at Ct
kato had not been settled and if
was his own property he had RICH
to do as he pleased with it.
A second trial was had cOmmencin
October goth and verdict of guilt
was returned on October 22nd, tn
jury being out but short time. Th
TAKES OFF DANDRUFF, -.
HAIR 2TnpC EATI.Tl