Evening Republican, Volume 14, Number 78, Rensselaer, Jasper County, 1 April 1910 — Echo From Stock Purchase in Hamilton Life Insurance Company. [ARTICLE]

Echo From Stock Purchase in Hamilton Life Insurance Company.

Marion I. Adams, a substantial farmer residing south of town, has been made the defendant in an action brought by the Union Trust Co., who ask judgment in the sum of $316, principal, interest and attorney fees, for a note which they allege to have purchased of W. R. Scudder, who, to all appearances, was the whole thing in the Hamilton Life Insurance Co. Scudder came to Rensselaer last year to talk insurance company. He had organized a company at South Bend, but thought of locating in Rensselaer, provided he could get some responsible men interested in his company. He secured some encouragement and induced a few to take stock in his company. He arranged to rent the second floor of the new Roth building for his headquarter offices and had it arranged to suit his ideas. A few weeks ago the auditor of state stopped his company from doing business and it developed that it was in a bad shape financially. Mr. Adams was one of the men who subscribed for stock and the compliant alleges that on the 24th day of last June he gave Scudder a note for $256 bearing 6 percent interest and due on Jan. 15th, 1910. The Union Trust Co. assert that for a' valuable consideration they became the owners of the note on and before its maturity, and that Mr. Adams has refused to make settlement