Indianapolis Times, Volume 43, Number 287, Indianapolis, Marion County, 9 April 1932 — Page 2

PAGE 2

FRAUD ALLEGED ' PRIOR TO WILD | BANK'S CLOSING Receiver Files Petition for j Right to Sue on Promissory Notes. Charges that fraud was perpetrated on April 1, 1921, several years preceding the closing of the J. F. Wild <fc Cos. state bank, Richard L. Lowther, receiver, Friday filed a petition in probate court asking per- I mission from Judge Smiley N. Chambers to file a suit against the I makers of promissory notes payable to the bank, which, he asserts, were charged off, resulting in depletion of assets. The receiver’s petition recites that , about April 15, 1921, officials of the j state banking department threat- > ened to close the Wild bank and delivered an ultimatum that such action would be taken unless the surplus and undivided profits funds were replenished. The hanjc was closed in July, 1927. Notes Were Signed To meet the situation, $137,500 | apparently was contributed by signers of promissory notes payable to j the bank and listed as follows in the petition: John J. Appel, note for $25,000 and a further contribution of $27,500 represented in stocks and other securities; Robert I. Todd, $25,000; Henry H. Hornbrook, $17,500; Albert P. Smith. $7,500; S. E. Rauh, $12,500; A. C. Kimberlin, $12,500, and Fred Appel, SIO,OOO. These notes, Lowther asserts, were delivered to J. F. Wild, president of the bank and chairman of its board of directors and entered as a part of the assets. "Subsequently,” the petition continues, "the said Wild or some other officer of the bank, unknown to the receiver, from time to time returned the said notes to the makers thereof, all without authority, right or cause.” Three Now Dead Lowther further charges: "Said cancellation was unauthorized and a fraud upon the bank, its depositors and creditors, and amounted to a gift of the assets of the bank to third persons and resulted in a depletion of assets .to the amount of $137,500. Since the bank closed, John T. Appel, Robert I. Todd and A. C. Kimberliri died. Lowther today also filed a suit to reopen the Appel estate in an effort to recover decedent’s contribution in the note and securities. Previously the receiver had won a victory in the Indiana supreme court which recognized the claim of the bank upon the estate. Settlement of the Todd estate is pending. The Kimberlin estate has been settled. GUZIK BEHIND BARS By United Press LEAVENWORTH, Kan., April 9. ! Jack Guzik, Chicago racketeer | known as Al Capone’s business | manager, was checked in at the federal penitentiary Friday to start a five-year term for income tax evasion. The fat, bow-leggged gangster forfeited a day of fredorr to avoid the trip from Chicago on the regular convict train leaving today. Guzik was convicted of defrauding the government of $832,000. He was the fifth Capone gangster, including Scarface Al himself, to fall victim to the federal income tax \ campaign. ‘SAUCE FOR GANDER ALSO IS FOR GOOSE’ Judge Puts Dissatisfied Wife in Husband's Business. By United Press CHICAGO. April C.—Noah Seefor j asked Judge Joseph Sabath to re- | duce the sls temporary alimony he ; was paying because his profits from j operating a newstand amounted to I only sl2 a week. "Pooh,” spoke up his wife Rose, ! "I could make $75 a week off that news stand.” “I’d like to see you do it,” See- j for returned. "Fine,” said Judge Sabath, ‘‘Mrs. Seefor, you take the stand. Give j your husband sls a week and keep the rest of the profits.” $1,000,000 IN DRUGS MARKED -TOYS’ SEIZED By United Press NEW YORK, April 9.—Narcotics j valued at more than $1,000,000, con- j cealed in five packing cases, marked i toys, were seized by federal agents j aboard the French liner lie de France shortly after the vessel docked, it was revealed today by customs authorities. Joseph Frankel, toy importer, was brought to the Federal building to- j day for questioning by a United j States attorney. TRAFFIC BAN ON BRIDGE Seventeenth Street Span Is Closed 1 to AH Vehicles. The works board Friday authorized closing of the Seventeenth street bridge over the canal to vehicular traffic, on recommendation of A. K. Moore, city engineer. Moore reported the bridge in a dangerous condition, and in such poor shape that extensive repairs would be useless. He recommended the bridge be closed to all but pedestrian traffic.

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THE INDIANAPOLIS TIMES

-APRIL 9, 1932