Jasper County Democrat, Volume 10, Number 39, Rensselaer, Jasper County, 28 December 1907 — THE BALDWIN & DAGUE BANKS. [ARTICLE]

THE BALDWIN & DAGUE BANKS.

In the Baldwin and Daguebanks the bank examiner has found that the 7,500 acres o f Arkansas lands, on which the bankers had spent considerable money building a railroad and sawmill, etc., a mortgage for $20,000 with three years interest unpaid is held by W. S. VanNatta of Fowler, who was originally in on the deal but sold out his interest after a short time to his partners. This reduces the assets considerably. Applications have been filed in in court for a receiver for the Fowler and Ambia banks by the State Auditor. It is exjActed in this case that he will show that more than $19,000 has been abstracted from the Fowler bank, and is unaccounted for, and more than SIB,OOO from the Ambia bank. It is also alleged that $38,000 in notes were taken from the Ambia bank and $16,349 from the Fowler bank and hypothecated for funds to be nsed in private business, and that the bankers took more than $112,000 from the three banks and invested it in this Arkansas land scheme. It is alleged that they took $38,000 from the Ambia bank, SIO,OOO from the Fowler bank and $61,000 from the Goodland bank on their personal notes. Most of the good timber it is alleged, has been cut from the Arkansas land and the State Auditor thinks the land is not worth to exceed $50,000 alibis time.