Jasper County Democrat, Volume 5, Number 52, Rensselaer, Jasper County, 4 April 1903 — PAYMENT WAS STOPPED. [ARTICLE]

PAYMENT WAS STOPPED.

Rensselaer Lady Invests $6,250 In Oil Refining Stock.—Draft Stopqed Pending Investigation. On March 20th a man claiming to be ex-Treasurer Richmire of Benton here and called on Miss Cordelia P. Monnett, a maiden lady of considerable means residing in the southwest part of the city, and interviewed her regarding life insurance. Finding she was not eligible to insurance, he introduced the subject of selling her some stock in the South-Western Oil Refining Co., of Los Angeles, Cali., and finally succeeded in selling her 5,000 shares at 25 cents per share, she giving him a check for $1,250 on the Rensselaer Bank. The check was presented, the gentleman identified by Landlord Slagel of the Makeever House, and paid. On Wednesday night of last week, a smooth gentlemen giving the name of J. Elwood Killen of Indianapolis, came to Rensselaer and put up at the Makeever House. At 8:30 that night Joe Jackson, the bussman, called at Miss Monnett’s with a written request from Killen that the lady grant him (Killen) an interview. She told Joe that the man was a stranger, that she did not feel well and would not see him. Joe urged her to see the man, she says, and kept on urging her to grant an interview. After insisting for more thaD a half hour, she says, she finally consented to see Killen on condition that Joe would accompany him and be present at the interview. This was agreed to, and later the two men called, and Killen had more oil refinery stock to sell. It was 11 ;30 p. m., when Killen and Jackson left, and the former had a contract in his pocket for 25,000 shares more stock at $5,000. The next morning Killen again showed up and he was given a draft for $5,000, leaving the buyer a receipt for the money only—it being stated that the office was in Los Angeles and this stock as well as the first 5,000 shares would be sent her from there. The draft was bought at the Rensselaer Bank and as soon as Cashier Harris learned of the transaction he immediately went to Miss Monnett and on her statement of the facts and on his advice the National Bank of the Republic of Chicago, on which the draft was drawn, was notified to withold payment. Killen, it seems, took the 2 p. m., train Thursday for Indianapolis and presented the draft at a bank there where he was slightly known and secured the money, and at present his whereabouts are said to be unknown. The draft was turned down at the clearing house, and unless the Capitol National Bank at Indianapolis can find Killen and the representations he made to indnee her to purchase the stock are fullfilled and the stock really has some value, it is quite likely it will hold the sack ior $5,000, as the draft was not negotiable, owing to the peculiar way in which it had been endorsed to Killen. A lawsuit will likely result, but if the stock is all that it wns represented to be and there was no fraud, then the purchaser is willing to take it and pay for it. In justice to Mr. Jackson we desire to say that he called on H. L. Brown, who is a relative by marriage to the lady who purchased the stock, early the next morning and informed him of the matter, but Dr. Brown did not get a clear understanding of it, and did not take it that she was being induced to purchase SS,(XX) worth more stock, merely thinking it something connected with the former purchase. However he called on the lady but did not feel at liberty to pry into her own personal affairs too much, and she did not ask his advice, therefore ho came away and not till later did ho learn precisely what hud been do" ». The alleged oil ’•‘•fining company’s circulars have such men ns Union B. Hunt, republican exsecretary of state, as heading it, and it tmy turn out all right, although at this time the whole transaction looks very shady. The $5,000 draft has not yet been paid, notwithstanding the statement published in an Indianapolis paper Thursday night, based on an interview with Killin’s son who is employed in an office in that city and who says the stock is and the company all right.