The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1921-01-13
SPOKANE BOND BROKERS
ROB CALLAHAN S41O,5OO
VICTIM APPEARS TO BE IN VERY
FoRGlVlNo FRAME OF
MIND

I1eeced according to his own revis-
ed figures to the extent of S41O,5OO by
John b. Milholland and Jay h. Hough
Spokane bond brokers, James +. Cal
lahan returned to his home in this
city yesterday evening in a much bet
ter frame Of mind than that in which
! he left last Monday afternoon for
Spokane to verify the loss as given in
Hough's confession and which was
followed by the suicide of Milholland.
The shock of the first news had a
stunning effect upon Mr.. Callahan
and he left here very much depressed.
Whether this was due to the heavy
financial loss, or to the discovery of
his betrayal by his trusted agents and
friends, is not known; but whatever
the cause, he seems to have got rid of
the effects by the time he reached
Spokane. for the newspapers repre-
sent him in good spirits 50 far as his
losses were concerned, expressing
great sympathy for the men who had
wronged and robbed him. generating
them of any criminal design, express
cd regret that they did not confess all
and ne would have made it all right,
that Milholland and Hough were not
prcmeditated crooks, that they were
good boys but calculated wrong and
that personally he did not desire to
prosecute Hough and would only go
as far as the law requires.
Bonds Were Forgeries.
The story Of how Milholland and
Hough deliberately robbed Mr.. Gala
han during a period of two years, the
confession of Hough and the suicide
of Milholland and finally the mag
unanimous and forgiving spirit display
ed by Mr. Callahan have all been fea-
lures of first page stories in the daily
press during the past few days. and
these details need not be repeated
here. According to the statement
credited to Mr.. Callahan after he had
made a careful check of his losses. the !
total sum is Si1O5OO, represented by
forged bonds with the exception of
$4,000 i'm cash which he had on de-
post with Milholland & Hough and a
note which he had endorsed for Mil |
holland for $4,000 and on which q |
payment of $500 had been rlade. Here |
IS the list of the forged bonds:
100000. 6 per cent Teal municipal
irrigation Umatilla, Ore
$4,000 5 per cent. Hill county.
Montana. school district No 16.
$4,000 6 per cent Hill county.
Montana school district No, Is.
$4,000 per cent Liberty county.
Montana relief fund
10000 Port of Newport harbor.
)re
$4,000 Port of Newport harbor
IRE.
Callahan Not Broke.
This heavy loss, together with his
Npensive divorce litigation and in
estments from which no revenue has
cen derived, have naturally drawn
at considerable comment regarding
lr Galatians financial condition. ,
ome idea of his financial resources t
iay be gained by referring to the ,
't''' A'NRiN VI Ailt Interstate al I
han Mining company now known as i
ne Callahan Zinc-Lead company. Be N
inning on April /. 1915. when the f
1mpany paid it's first dividend. the C
vidend disbursements of the com n
my have amounted to SIPS per o
lare. Mr. Callahan is the largest in s
vidual stakeholder i'm the company h
'lding $4,000 shares; in fact he prob o
ply owns more than that number. as o.
is believed he increased his holdings @,
me time after the consolidated com
my took over the property But be
at as it may, on a basis of $4,000
ares upon which he has been paid "a
'idends amounting to SIPS per
are. Mr. Callahan has received since
lml L. 1915, Sl3l55OO. After allow %
3 for the present heavy loss. his di- in
rec litigation, and possible non pro- We
ctve investments, it is evident that wi
Callahan should still have a very 90
ufortahle fortune. sufficient TO keep nj,
wolf from the door until Callahan 70
umes dividend disbursements. ba