The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-04-07
This IN another article in n series
which w. II. BiOdgett has prepared for
the Indianapolis News.

CHICAGO, April Elm practically
all deals that Edgar F. Hiatt, OF Rich
mond, has made in real estate in vari-
Gus parts of the country for the last
10 or IL years, the name of Clyde L.
Peck, real estate operators in this
city, appears in some way or another.
Mr.. Hiatt was president of the Dick
inson Trust company of Richmond
which was recently closed on orders
of Charles w. Camp, bank commits
sioner of Indiana, and later reorgan-
lied and opened again last week.
Many times, it is asserted, Mr.. Peck
has represented himself as the spe-
cial agent for Mr.. Hiatt.
Peck insists that the Chicago prop
erty in which Mr.. Hiatt was interested
is good property and in time can be
worked out so that the purchase price
can be paid, the mortgages settled and
a nice little balance left to the own
ers. He said that he was sure that
Mr.. Hiatt has sufficient assets to
clear him OF all his debtedness. This
information is encouraging to the
stockholders of the Dickinson Trust
company
interesting Information
One bit of Information which the
special committee investigating the
deals of Mr.. Hiatt obtained interested
the company greatly. 1t was that
when Peck desired to use money in
his personal affairs he would call up
real estate or loan agent, ask for
the money, and suggest that the
money be lent to him to be charged up
against one of the three Chicago prop
critics. The investigating committee
has found that in one instance rep
utable real estate firm advanced Peck
$500 for his personal use and charged
1t as a loan on the Englewood prop
erty.
Another story in which the investi-
eating committee took considerable in
terest was that of deal in which
Hiatt is said to have figured at mid
night in room at the Sherman house
in this city. Hiatt was in Chicago
working a real estate deal. A curb
stone dealer in real estate took him
to the room in the Sherman house and
there, the committee was told, Hiatt
made a deal for a piece OF Chlcagc
property, paying $4,000 down as op
.tion money. Mr.. Hiatt never saw the
property and did not know personally
that it was in existence. it was SAID.
1t is asserted that man nameo
Flickinger has claim OF S3,Oo,
against Hiatt for commissions In thls
deal. 1t is understood that the inves
tigating committee found TINS prop
.erty and found that the option 1oi
which Hiatt paid $4,000 will expire
at the end of this month.
Mortgages to be Paid
II will REQUIRE about $4,000 or $4,000
to put the property in good rental con
Edition, and in order for the commit
tee to obtain the property 1t Will De
necessary for the committee to pay
about $4,000 in mortgages. The com
mittee has not yet decided whether
it will take over this property FOL
salvage purposes but it is trying tt
find out where Hiatt got the $4,000
he paid for the option.
The statement has been made tha
it was the intention of Hiatt to turf
over through various deals to Clyde
L. Peck the Dickinson Trust company
of Richmond Close friends OF Mr.
Hiatt say that this is not true. A
was said in a previous dispatch, HAT
attempted a deal whereby he would
become the owner of the Richmond
Light, Heat and Power company, ant
Peck was to be president OF that or
ganization and not to receive contro
of the Dickinson Trust company.
Z, The records in the. federal section
-of the United States district court II
this city, reveal that Clyde l.. Peel
lis under indictment on charges OF cor
%spiracy to commit postal offenses an
for using United States mails to dc
fraud. This indictment was returne
October %, 1920, and since that tim
t-Peck has had many dealings in rea
iestate with Hiatt and has claimed t
have acted as his agent in certai
land transactions.
According to the Indictment, Clyd
Il. Peck was the financial agent of tn
Daniel Hayes company, of Idaho. Thi
concern had its headquarters office
Dearborn street, this city. 1t was eI
Gagged in the business Of buying an
selling land, securities, etc. The Ian
was in MADEIRA and MERGED COUNTIES
California.
Land In California
- The company represented that
had los, 900 acres of land on the cas-
side of the San Joaquin river, whic
IS one Of the most fertile spots /
California. This property was divide
into three parts; one was called tn
Chowchilla ranch, another the Bis
ranch and the third Twin Profit rancl
The company sent out letters en-
-prospectuses setting out that this wa
magnificent land on which to rails
alfalfa, barley, oats, corn, beans an
potatoes and for the growing of fru
trees.
The land was listed to customers {
5000 an acre, one-half of which wa
10 be paid in cash or promissory note
Liberty bonds, or other valuable S
curities at the time the sale We
made. The remainder of the purcha:
price was to be paid in five years, ar
was to be secured by mortgage TIL
would be paid from the crops. tt
company also required the custome
10 pay them $40 an acre for preparir
their land for cultivation. Attacht
to the indictment, which is in eightee
counts, is a list of the overt acts pc
petrated by the company and whit
resulted in the indictment of all
its members. These overt acts s
out that:
On April 90, 1918, the compar
wrote letter and sent a circular
Lewis w. Candy, at Winfield, Ia.
- On July 3, 1918, the company wro