The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-03-03

veteran brought before Grant
County Circuit Judge o. d.
Clawson, by Marshall Viii
liams, secretary and trust Of
fcer of the Grant Trust and
Savings company, on Sept. 80,
1880.
Mr.. williams is not the Marshall
williams formerly connected with
the Democratic state cOmmltteeJ
The petition was approved for
the expenditure Of $3.50 Of the in
sane veterans funds.
At the time of the petition, one
group Of bonds, Harding building,
g. Der cent. for which a $500 in
vcstment was asked, had sent out
bondholder statements showing a
loss of $4,000 for that year and
failure to pay taxes on properties
two and One-half years prior to
1890
A mortgage loan for $500 on
the real estate Of G. F. Richardson,
requested in the investment petit
ton and maturing in Oct. 1880, was
foreclosed Jan. II, 1892, for the
estate of the insane veteran and
bought by the guardian at a sher-
ifs sale for S3,124-
Cost Was S24S.19
It cost the veterans estate
S24819 in delinquent tax payments,
attorney fees, and court costs to
obtain the property which on Sept.
30 was termed as a safe and free
from undue hazard and as remun-
erative to the wards estate
Belmont hotel bonds petitloned
for to the extent of $500 in the same
court request on Sept. 30, 1890, were
later delaUlted in interest. and now
are said to be in reCeivership.
Harding building bonds too, later
were defaulted.
on Dec. II, 1888. losses estimated
at $3.50, the exact amount Of the
SO-Called safe investments is
sought in a suit against the Grant
Trust by the new First National
bank in Marion.
All Shown As Losses
All of the investments cited above
are shown as losses to the veter-
ans estate in the suit.
All of the investments had been
purchased from six months to three
years prior to any court order being
obtained for their investment in the
wards estate according TO the
records.
The present receiver Of the Grant
Trust Howard ". Hooper, refused
The Indianapolis Times permission
to look at the cOmpany'S books to
establish whether the Richardson
mortgage loan was delinquent in
either payments of interest or prin-
cipaI when ordered by the court to
be placed TO the credit of the vet
Grams estate
Mr. Hooper explained that the
impending court action, suits. and
litigation against the Grant Trust
prevented him from clarifying the
transactions on Sept. 80, 1890
Bonds presumably purchased in
1926 and petitiOned for in that year
shrink in value in later reports in
guardianship records OF the Grant
Trust
For instance in Case 1895. bonds
tOtahng $4,000 in Manghelh Bros,
a Marion corporation III 1926, Sc
cured by a mortgage, fade to $4,000
on the final report of the Grant
Trust.
Purchased in 20. Says Report
The bonds. apparently. were pc
titiCned for and purchased in 1926
with the purchase date on the
Grants ledger, according to the
veterans bureau report, as May %,
1926. but the petition to invest with
court approval made for $4,000 of
the bonds on Oct. Is. 1926
The earlier alleged purchase of
the bonds shows that in May. 1926
only $4,000 of the bonds we're bought
instead of $4,000 petitioned for five
months later
The same variance of amounts
credited 10 estates shows in current
court reports of realty mortgages
assigned to the incompetent vet
Grams estates
Case 1870. who at present is III
a closed ward at the Marion Vet
Grams hospital is shown by invest
ment petitions to have had pur-
chased for his estate by the Grant
Trust a mortgage loan for $1,000
and $1,000 on property of Lewis F.
De Wolf. Marion.
But in Sept 80 1880, a new in
veStment petition is requested for
$1,000 mortgage on the De Wolf
property.
Loan Shown Paid Of
In Nov. IS. 1888. the Lewis De-
Wolf loan is shown paid of in the
final report Of the First National
of Marion (nOw in reCeiverShipl but
the amount of the loan is $1,000
not the 81 800 as shown in the in
vestment petition of Sept. 80. 1880
nor $1,000 as shown TO be one of
the requested purchases on March
OF the same year.
The First National of Marion took
over the guardianShipS of the Grant
and the records on Case 1907 as
well as the assets and liabilities.
A loan from an individual TO an
individual secured by an adjusted
compensation certificate bonus is
not permissible under the United
States Veterans administration.
The loans may be made by bank
TO an individual.
In the guardianship court records
OF Case 1895 is shown a $3.50 loan.
secured by a bonus certificate. TO
Robert Patrick Kiley.
The loan notation is in the first
current report OF the old First Ma
uonal OF Marion fled with the cir
cunt court Feb. 10. 1882.
II shows that the loan was made
apparently without a prior court