Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-03-20
WADE BLAMED
FOR IS Loss.
Manager land Company
Will ,":: y: Interests Interests
arrested.
WILSON ASKED TO
HOLD UP BENCH JOB
Following Arrest Complainant Thrsats
ems to Lay Matter Before Grand
Jury-Wisner Estate Heavy Stocks
holder and Iowa Men officsrs-Judss
Wade Involved az Attorney For Es.
tate-Makes Emphatic Denial.
Chicago. March 2o-rhe Tribune this

Chicago. March 20--The Tribune this
morning says:
Seward T. st. John, secretary and
general manager OF the Transcontin-
entail Townsite Company, Of Winnipeg.
Canada. now in the hands of a receiv-
er. was arrested late yesterday on .
warrent charging operation OF confi-
| dence game. sworn out by Attorney H
j. Toner. stockholder in the com-
| pany
Toner, following the arrest. made
! public sensational letter which he
had addressed to United States Sena-
tor James Hamilton Lewis. demanding
| that the senator induce President Will
son to defer the confirmation of Mar
tin Wade of Iowa City. Iowa. as federal
judge for the district OF Iowa on acA
count OF Judge wade's position az at.
torney for the Wisner estate. which IS
interested to the extent OF $250.000 in
the company. Toner blamed Judge
Wade, Mr.. St John. and those interest-
ed in the Wisner estate, located at Ell
dora. Iowa, for losses aggregatfn8
$4,000. which he said that he AID q
group of fellow stockholders had suf@
fered.
Investments by chicasoans.
Toner alleged that as the result OF
activities OF Judge Wade and Mr.. st.
John, these investments by Chicagoans
were made in the stock OF the cons
pany
John McCarty ................. 10000
L. F. Ter Bush ................ 5000
Frank B. Long .......-........ lO.O0o
| Robert Hall Mccormick ....... 10000
| Holabird & Roche, architects. 10000
II. ]. Toner 5000
| Charles Hubbard .............. 1000
! The remainder OF the $4,000 WAS
given. Toner. said, by subscribers to
| smaller amounts OF stock. He said N
would ask ne states attorney to pre-
sent evidence in the case before the
| grand Jury.
Admit. They Have Grievance.
| Attorney d. X. Tone, representing
the stockholders, failed to enthuse over
the action of Mr.. Toner i'll securing
! Mr. St Johns arrest as he was leaving
! Mr.. Tones office to prepare a pro-
| posal for taking the company out OF
receivership. He said, however. that
| he believed they had grievance. Can
vass of the stockholders who could be
reached developed they felt sore.
but they were doubtful of the propriety
of having Mr.. St. John arrested.
| Mr.. Mccarthy. who is we'll known
politician and business man, expressed
bitterness against "St. John and the
rest of that crowd in an interview. Mr..
Mccarthy said he learned of the in
vestment thru Mr.. Ter Bush and In
turn told Mr.. Toner. who inv ested his
money with the others.
! Judge Wade on Hand.
| Judge Wade accompanied Mr.. st.
John to the Central station. where bond
was given for $1,000 for appearance
/ before Judge Prindiville. In the even
| ing both Judge Wade and Mr.. ST John
made light of the arrest and of Attor-
ney Toner'S letter, which Judge Wade
laughed over as he read It,
"Mr. ST. John came here OF his own
accord to try to get the company on its
feet again." said Judge Wade. we
were meeting with stockholders in Mr.
Toner'S office and were just preparing
to offer a plan for refinancing the
company without asking the stockhold-
ers for any money when this Interrupt
ton occurred.
Says They Did Not Solicit Buyers.
Mother Mr. st. John nor I had any.
thing to do with inducing these people
to buy stock. They came up and
asked for it. AS for the Wisner estate
getting stock without paying for It..
that is bosh. Why, the Wisner estate
has S25O,OOO invested without even q
mortgage. The company has assets oe
s1.500.OOO, but the war stopped oper-
ations for the time being"
Il came down here to straighten out
things, and my reward Is being ar
rested before 1 can complete the job.
said Mr.. st. John. This company was
made official handler Of the town site
of the Grand Trunk Pacific railway.
and before the was was one Of the best
things Of it's kind IN Canada. The orig
inal idea was to make 1t & close COR
poration, but when $150,000 additional
capital was required we let in few
! others. When financial conditions im-
prove in Canada I expects to see the
company prosper"
Toner asserts $1,2oo.0o0 OF the stock
Of the company had been subscribed
and paid for before the liquidation was
started.
H. w. Emery Is the compsny's presi.
dent and F. w. Crockett is Vice presi.
dent.