The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-09-10
STATE BANK EXAMINER
CLOSES OUT EMPIRE
HOME COMPANY

This paper warned its readers in am
pie time and if any of them lost money
it was on account of Inaccessible neg
ligence in failing to investigate after
receiving warning.
The Tribune derives no great
amount of pleasure from the collapse
of the Boise concern. We are highly
gratiied that this paper was able to
protect its readers. We feel that we
have done the people of Idaho real
service in early pointing out the i'm
practicability of the plans and meth
DDS of the Empire Home Company.
At one time we were fearful that we
might have been hasty in our conclu-
sions. Time proved conclusively that
The Tribune was right in its fight
against the Boise concern.
At this time we acknowledge CRATE
fully the help and assistance rendered
us by Mr.. w. S. Cousins, editor of the
American Banker; Mr.. Louis
Guenther, editor of The Financial
World; Mn F. Howard Hooke, editor
the Financial Age and Mr.. Herbert
Myrick, president of the Orange
Judd Company of Springfield, Mass.
These gentlemen, with no object in
view other than to be of service to
the investing public of Idaho. went
to the trouble of reading and analyz-
ing the literature of the Empire Home
Company They later gave us for pub
LEGATION their views on the plans and
methods of the company. At this
time, in behalf of the people of Idaho
we thank them.
Bank Examiner Stops Business.
State Bank Examiner Hit has
ordered the Empire Home Company,
of Boise, incorporated in March of
this year, to cease doing business in
the state of Idaho. Mr.. Hit announc-
ed Friday that he had taken this
action. Should the company fail to
comply with the orders the state bank
examiner will bring action against the
company under the "blue sky" laws of
the state.
Mr.. Hit is thus quoted by the Boise
Statesman in its issue of Saturday
morning:
81 served written notice on the
company that it was not complying
with the requirements of chapter 113
of the 1918 session laws, known as
the blue sky law. The notice was
given by me in person to D. M. Leo
pold, secretary of the company. 1t
demanded immediate cessation of its
operations"
Mr.. Hit will be in Seattle for the
next few days, attending the meeting
of the American Bankers association,
but in the meantime the operations of
the Empire Home Company will be
watched by f. w. Pearce, his deputy,
who will see that the order is carried
out
"Roger Craig" Promoter.
The Empire Home Company was
promoted by Roger Craig" who was
president and general manager. The
other officers were: D. M. Leopold,
secretary and treasurer; Frank H.
Hull, assistant general manager; Carl
D. Rush, manager of loan depart
ment; John Vissar, architect, manager
of home building and architectural
department.
-Four Per Cent Money"
Four per cent money was its bait
1t sold loan and investment bonds
on monthly payments, from the pro-
ceeds of which it proposed to loan
money, on which the borrowers were
to pay per cent interest. The com.
pany was capitalized at 100000 and
according to its prospectus, every dol
lar received by it was placed in the
accumulation fund and was to be loan
ed on first mortgage real estate. The
capital stock, after paying the neces.
sary working expenses" was to be
used for the same purpose. Stress
was laid upon the fact that the COM
pany had no promotion stock, did moi
maintain lavish ground floor Offices,
or in any way foolishly expend its
funds.
Fails to Pay Bills.
The amount of capital stock actu
ally paid in has not been ascertained
1t is known however, that the com
pany has failed to pay its bills il
Boise. Its offices were luxuriantly
furnished and it maintained an air o
prosperity
Craig" or "Bowden7"
Not long after it began operations
rumors gained currency that all wa
not we'll with the company. 1t wa
alleged that Roger Craig" was non,
other than James Sinclair Bowden.
who arrived in Weiser about a yea
ago and departed a month or so late
leaving many regrets" ranging il
amounts from S. to $50. Some of tn
Weiser victims of James Sinclai
Bowden, it is said, went to Boise AM
collected their bills from "Roge
Craig" In Weiser "Bowden," o
Craig" posed as an ex-officer of tn
Irish Hussars" in the British arm
and when he left he announced tina
he was going to Canada to lead regi
ment or battalion of the Canadian
contingent against the Germans.
A few weeks ago Craig" wa
brought up in a Boise justic court 70
passing a worthless check About til
same time he was deposed as manage
and Frank H. Hull installed in hi
place. He remained with the com
pany, however, as a sales agent. w
M. McKendrick was made genera
manager. Null and McKendrick wer
not at all satisfied with the way i
which the company's business wa
conducted and they withdrew fror
the corporation.