The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-03-27
PECK DECLARES
HIATT IS ABLE
TO PAY IN FULL
Real Estate Agent Claims
Hiatt Realizes $4,000 An
nually From Four Choice
Chicago Buildings.
MARION BLOCK DEAL

Edgar +. Hiatt, whose investments
as president of the Dickinson Trust
company, led to the closing of the
trust company by Charles w. Camp,
state bank commissioner, on March
l5. used a number of real estate oper-
ators to trade and re-trade, chief of
them being Clyde l.. Peck, 802 Ash
land building, Chicago.
Mr. Peck in an interview in Chicago
on Sunday said:
81 am sure that Mr. Hiatt has suf-
ficient assets to clear him of all his
Indebtedness" Mr.. Peck also said
there were four pieces of choice i'm
proved real estate in Chicago, consist
ing entirely of apartment buildings
on which Mr.. Hiatt realizes an annual
net income of $4,000
Peck in Many Deals.
Mr.. Peck's name appears some place
in almost all the trading deals in
which Mr.. Hiatt was involved, and at
times represented himself as Mr..
Hiatt's agent.
The list of the Chicago property.
given out by Charles w. Camp, state
bank commissioner, shows only three
pieces OF property, as follows:
No. 1-6615-17-19-21-23 and 25 Ken
wood avenue.
No. IS. W. corner 43rd and Ellis
avenue
No. 3-7515 Sheridan Road.
The annual rental given for the
first piece of property was $52, 600;
no rental on the second was given, and
that on the third was placed at $780,,
000
The value of the three properties.
above the mortgages which are held
by outside parties, is between $4,000
and $4,000, according to a conserva-
tive appraisal made on March 1S by
a Chicago bank.
CHICAGO, March 27-A committee
composed of directors of the Dickinson
Trust company of Richmond is expect
ed to visit Chicago Tuesday for the
purpose of inspecting realty reported to
be owned here by Edgar F. Hiatt, de-
posed president of the bank, which was
closed by order of the Indiana state
bank commissioner March 10.
Clyde l.. Peck, 1926 North Marshfield
avenue, who says he represented Mr..
Hiatt in purchasing one of the pieces
of realty, made this announcement
According to Mr.. Peck, Mr.. Hiatt has
choice improved real estate in Chicago.
This property, consisting entirely of
apartment buildings, realizes an an
nual net income totaling $4,000, all of
which is said to be under the manage
ment of Chandler Hildreth and COM
pany, real estate agents, 56 West
Washington street. No member of this
firm could be located today.
Denies lioht Deal
Mr.. Peck said he had represented
Mr.. Hiatt in only one of the realty
purchases, and denied reports from
Richmond that he had tried year ago
TO purchase the Richmond Light, Heat
and Power company, or that he had
been interested in any way with the
affairs of the closed bank.
Il am convinced the total 100000
outstanding of the bank will be paid,
said Peck. Il am sure that Mr.. Hiatt
has sufficient assets to clear him him
of all his Indebtedness. The report that
! had dealings amounting up in to
millions with Hiatt is not true"
Mr.. Peck admitted that he was now
under a federal indictment in Chicago
According TO an attorney familiar with
this case, Mr.. Peck. along with others
Connected with the Daniel Hayes Land
L
months ago on charges of making false
representations concerning California
land in various circulars sent through
the mails.
MARION, Ind, March 27-Tht
Glass block, which has been mentioned
in connection with the operations o
Edgar F. Hiatt. deposed president o
the Dickinson Trust company of Rich
mond, is five-story building. occupy
ing a one-half block in the center o
this city, and is regarded the seconC
most modern business building in thi!
n city.
Agnes w. Cain of Duvall county
Florida, sold the Glass Block Jul!
-, 1900, the deed carrying reve
nue. stamps showing a value of 500
600 and mortgage exemption of $50
600. Edgar f. Hiatt was president o
the Glass Block company, which wa
incorporated July 26, 1920 with a cap
ital stock of $4,000, in 800 shares
The original incorporators were Rob
ert J. Buck, E. F. Hiatt and Wilfre,
Jessup. Gardner Jessup and Hoel
scher were the attorneys.
The first mortgage of $4,000 wa
held by the Massachusetts Mutual Lif
Insurance. company. Inc GlaSS BLOC,
company gave a second mortgage cor
sisting of five notes of $4,000 each
due serially in five years
Traded Last Fall
The block was held by the Glas
Block company until it was traded las
fall to J. w. Cook of Mississippi a
part payment on 1860 acres of Ian
near Greenville, Miss, which was par
of the questionable assets remove
from the Dickinson Trust company
When the property was transferre
TO ]. w. Cook the first mortgage ha
been paid down to $4,000, the secon
TO 100000, and the deed carried revt
nue. stamps for 100000 and a NOR
gage exemption of S95,000. Thi
would indicate a value of about $20'
0o0
INDIANAPOLIS, March 27.-Did tn
state banking department know of tn
n condition of the Dickinson Trust con
pany for some time, Charles W. CAM
state banking commissioner, wa
asked Mr. Camp replied: