Jasper County Democrat, Volume 11, Number 57, Rensselaer, Jasper County, 19 December 1908 — UNLIKELY STORY [ARTICLE]

UNLIKELY STORY

About Baldwin’s Boast of Wealth. ■— « HE WAS WORTH HALF A MILLION 1 ' ' ' 1 f * Year Ago, According to a Logansport Dispacth Which State* Banks Failed Last Spring. Under the head “Death of Baldwin a Great Shock to Dague,” a Logansport dispatch to* an Indianapolis paper says, among other things, of the death of D. P. Baldwin of thp late banking firm 'of Baldwin & Dague, whose banks at Goodland, Fowler and Ambia failed last December and who were recently indicted by - the Newton county grand Jury on the charge of embezzlement: Mr. Dague, who was a partner with Mr. Baldwin in the private banks at Ambia, Fowler and Goodland which were closed last spring by order of State Auditor Billhelmer, has been here since Sunday, He arrived in the city early Sunday morning and went directly to Mr. Baldwin’s downtown office. He has a key and he went in. At 11 o'clock John G. Meek, an attorney who has an office in the same building, curious to know who was so nervously pacing up and down in Baldwin’s office, went* to the door, and rapped for admittance. Mr. Dague told him to enter. “Where is Baldwin; I had an appointment with him here at 9 o’clock?” said Mr. Dague, recognizing Mr. Meek. “I’m afraid that Baldwin keep his appointment,” said Mr. Meek. “Why! Why not?” asked Mr. Dague. “Why—he's dead.” “Dead! Dea-a-d!” gasped Mr. Dague. Then he collasped and sank into a chair. It was some time be-' fore he recovered. The shock was a great one and the death of his partner has visibly affected him. A year ago this coming Christmas, Mr. Baldwin made the remark to a Logansport friend that he had reached the goal of success which he had started out to attain —that he had accumulated $500,000. He stated that when a boy, walking behind the plow in Madison county, New York, his thoughts were of attaining great wealth, and be then resolved that he would amass a half million dollars. Last Christmas, in conversation with this friend, he stated that his boyhood dream had come true; that he had amassed a half million dollars and was ready to take life easy; that the remaining years of his life would be devoted solely to writing and lectures. But all this was before the closing of his three private banks. Then he was buoyant of spirit and ambitious in a literary way. When the crash came this spirit became crushed and health that seemed robust Impaired and failed fast. The indictments returned by the Newton county grand jury, charging embezzlement, was the blow that killed? Baldwin never dreamed that crinmial charges would grow <|it of Aese bank tangles, and when he was arrested on bench warrants, the proud spirit became completely crushed. Just how much of .that alleged $500,000 which Mr. Baldwin possessed at the time of his death remains is not known. All of his known real property some time ago was turned over to the receivers appointed for the defunct banks, but it is believed that he possessed mu9h personal property that no one knew about. His will promises to prove very interesting and local people are anxiously waiting for it to be probated. As a matter of fact the Baldwin A Dague banks were closed last December, the week before mas, and not last spring as stated in this dispatch. It is not likely, therefore, that Mr. Baldwin made any such boast of having accumulated a half million dollars last Christmas, If he ever did, or was worth any such sum. He was credited with being worth about $100,006, and this was no doubt too high. He may have carried considerable life insurance, and this, if payable to -his estate instead of members of his family, will help out in settling with the depositors of the banks of which he was the financial head. Nothing has been said as yet regarding any life Insurance, that we have heard of.