Evening Republican, Volume 22, Number 235, Rensselaer, Jasper County, 29 September 1919 — GEORGE MOSS IS INNOCENT [ARTICLE]

GEORGE MOSS IS INNOCENT

REFUSED TO BE A PARTY TO WILDCAT CAREER PROPOSED BY FRENCH. The following article is taken from the Frankfort Crescent-News, of which Col. George H. Healey is the editor. The article-, appeared in that paper under date of September 26 and will be pleasing news to the many Rensselaer friends of Mr. and Mrs. Moss, both of whom were reared in this county and were members of two of Jasper county’s very best families. H. C. Sheridan, attorney for George V. Moss, and Markwood Slipher made a trip to Chicago the earlier part of the week and it will 'be gratifying to the acquaintances of these gentlemen to learn that the information he obtained and which confirmed their statements shows no connection in any manner with C. W. French that was not entirely proper and 'there should be no trouble to entirely exonerate them when the case comes to trial and they are anxious that it shall be tried without delay. - Not only were they in no manner connected with any of the questionable transactions that resulted in the indictment of French, but it is entirely probable that the refusal of ■ Messrs. Moss and Slipher to permit French to indulge in some attempted high finance in connection with the concern with which they were connected was largely responsible for bringing French’s career to an end. The facts as ascertained by AttorThey had known French for some time and he was apparently in good financial standing when he organized a Motor transit company, which proposed the construction of a motor roadway "for truck transportation out of Mt. Carmel, 111. They were asked by H. P. Leavitt, a Chicago lawyer, to permit the temporary use of their names as trustees of the company. They did so and attended a meeting of the proposed company for the purpose of organization. The plan proposed was the issuing of 2,000,000 shares of common stock, which was to sell for 10 cents a share, the money thus raised to be held in trust by the board of trustees until the plans could be made for selling preferred stock for construction purposes.

The company was not incorporated and the trustees did not authorize the issue of the stock and so far as Messrs. Moss and Slipher are concerned the proposition rested at that point until last April, when : dr. Moss met Leavitt in Chicago and was informed by him that Mr. French was in Califofnia in an effort to dispose of $2,000,000 worth of paper for a Chicago brokerage firm styled Collins & Co. Leavitt said that California creditors had asked for additional security in the handling of the Collins matter and hat French had offered to put up two million shares of stock in the' transit company.- : T4r; ? Moss told Leavitt that the stock in the transit company was valueless and that it could not be utilized without making it worth what it was proposed to sell for. He wrote to French after returning to Frankfort and informed him that his proposition smacked of high finance and that it would not be tolerated by himself or Mr. Slipher. French replied and sent his letter through Mr. Leavitt, of Chicago, to be shown to the other trustees before being sent to Mr. Moss. It ridiculed the protest of Mr. and suggested that he, French, needed no advice on the business • he was proposing in , fornia. Mr. Moss again—wrote To French and an exchange of letters in which Moss defied French in the matter of putting up the transit company’s Stock unless it included a plan to protect that company by depositing to its credit $200,000 which the stock was to bring upon sale. French did not do this but later returned to Chicago and there Moss and Slipher met. him and other trustees of the transit company for a conference. It was arranged by Moss and Slipher that they would retire from the company and they so informed French. He was very ifidignant and created quite a scene at the meeting, but Moss and Slipher stood firmly by their decision. It was not long after this meeting that French was exposed .because of his illegal transactions. Indictments were returned against him and also against a number of his business associates, including those whose names were employed as trustees of the transit company. While the facts show nothing whatever against Messrs. Moss and Slipher, they will be compelled to go to some expense in making their defense and the unfavorable publicity given the case is extremely embarrassing to them. Fortunately Mr, Moss has a complete file of the correspondence with French, showing his insistence that the transit company could not be used as. a means of floating other securities, I and when these are introduced there is little doubt.that complete exoneration will come to the Frankfort men. Not only is this their due, bat

also they are deserving of commendation for 'having been instrumental in bringing French to the end of what seems to be a career in high finance that was largely wildcat.