The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1924-10-23
OLSON'S OFFICIAL
RECORD LAID BARE
FARMER LABOR CANDIDATE
FOR GOVERNOR HAS BEEN
LAX In PROSECUTIONS
U. S. l. REALTY CASE
STOCKHOLDERS DENY STATE
MENTS MADE BY CANDIDATE
IN PUBLIC SPEECHES


Prairie Leader, has rendered his
state valuable service by thorough
ly investigating the political activit-
les and official conduct of Floyd B.
Olson, Farmer-Labor candidate for
governor. The Herald publishes in
full two of the articles prepared by
Mr.. Lee. In the issue of the Leader
of October 18th, Mr.. Lee gives de-
tailed report of some of the things
Mr.. Olson has not done as County
Attorney of Hennepin county.
Those who heard Mr.. Olson's adj
dress in Sank Centre will recall to
mind that he had great deal to say
about the U. S. l. Reality Company
which caused several thousand in
the northwest to lose their money.
The Herald regrets that it has not
the space to publish Mr.. Lees last
report in full but we believe the
Herald readers will be interested in
his findings in connection with the
u. S. 1. Reality case, and they are
published herewith:
In connection with this report it is
MADE by Mr ie Olson in his speeeh at
the county fair 1t will be recalled
that he referred to the failure and
bankruptcy of the Y. s; I. Realty COM
failed, bringing losses to some 5000
stockholders scattered over the state.
The failure was bad one, there be-
the part of the officials. Mr.. Olson
took great credit for the prosecution
of these officials and he criticized
quite severely republican administra-
ton officials for what he termed their
neglect and carelessness in protecting
the people from the sale of stock by
the officers of the company.
1 notice that Mr.. Olson has repeated
these statements in regard to the U.
S. L. Realty compay in many of his
speeches around the state.
have made fsts some s, inquiry and aev
Father Boettcher. of Gibbon; j. c..
Morrison, of Morris; B. r. Mcneil Of
Minneapolis. Dr.: B: R. Karn, of Or
Wisconsin. These men are members
of committee appointed by the UNI
fortunate stockholders in the. U. 8. /.
Realty company to look after their
out of the wreck of the company fail
ure.
A statement therefore from these
gentlemen is statement directly from
the stockholders of the company scat
tered over the northwest who were
robbed by the company officers. In
view of what Mr.. Olson told us at the
county fair this statement from the
committee of the citizen stockholders
is interesting. Among other things the
letter, which is dated October Is, 1924.
says
Zone of the principal things this Z.
Committee did soon after it's APP
pointment was to hunt out certain
witnesses and assemble certain
e evidence which T it laid before @tsde
tary form. Sections of the Stat
utes relating to Grand Larceny
exhibit was prepared by. an at
torney Of experience. The Com
mittee requested immediate action,
and ON account Of the form I'm
pected to get immediate action.
That was in September 1928. The
matter ran along all fall and
T T1hIer City eRs had ssen
the affairs of the company. as
disclosed in the hearings in bank
F FIHSyY court op Tertiary Ilas pss fsaz
Mr.. Olson submitted this evidence
to the grand jury and e. H. Evans
and G. w Reynolds were indicted
These indictments are nearly eight
months old and neither Evans nor
Reynolds have been tried on either
Of them, this despite tn faet dhat
urged the County Attorney to
speed up action"
Continuing the letter says:
you are also entitled to inform
alton regarding another criminal
action against E. H. Evans and c.
w. Reynolds which Mr.. Olson has
allowed to drop: Away ,,,t PACK IN
ed that. the. per cent contracts
were illegal, and interested par
ties at that time brought the mat
the attention of County Attorney
| Olson and furnished the evidence
before the grand jury. As a result
WHY w. REYNOLDS w dds Were indicted for
selling this 8 per cent contract
without the license of the State
| Securities Commission. Mr.. Evans
rying their appeal to the Supreme
Court of Minnesota. Attorney Cen
eral Hilton argued the case for the
ed upon his arguments; the su-
preme Court held that the indict-
ments were valid. and that the act
of selling per cent contracts was
.County Attorney Olson never
followed up the victory won by At
did nothing to bring these cases to
trial and they have never been
tried from that day to this
This letter is especially significaahnt,
Mr. Olson was not sincere in the state
ments he made to us at the county
| fair in regard to his part in the prose-
cution of the u. S. I. Realty officials.
Mrs. Henry Benson and little SON
Willis, left Tuesday morning for Min
Ineapolis where she will visit her
parents M. and Mrs. E. F. Evans,
| for several days. Mr.. Benson ex-
! poets to join his wife Friday and they
will leave the last of the week for
their home at Glendale, Cal. The BEN
sons have spent the greater part of
| the summer and fall visiting their
parents and other relatives in Sank