Jasper County Democrat, Volume 23, Number 58, Rensselaer, Jasper County, 16 October 1920 — KNOWN AS BROKER CANDIDATE [ARTICLE]

KNOWN AS BROKER CANDIDATE

Neighbors of Republican Candidate Assert He Has Made Most of Hla Fortune Through Grain Futures. Kentland, Oct. 15.—Much surprise is occasioned here in the home county of Warren T. McCray, Republican nominee for governor, over the fact that his interest in the Sawers Grain company, a firm that deals in grain futures on the Chicago board of trade, is not more generally known In Indiana. There is nothing sinister in Mr. McCray’s connection with a “bucket shop,” but his neighbors cannot help but comment on the manner in which he has eliminated all reference to this avocation while on the stump discoursing on his “business ability.” “How has he managed to keep It QUiet?” is the question his friends ask. “It has been generally known for years here that he is connected with the company and that he has made much of his- fortune through the board of trade.” Officer In Brokerage Firm Mr. McCray is vice-president of the Sawers company and another Kentland man, William Simmons, is president. Mr. McCray, however, Is said to be the controlling spirit of the organization. Kentland, which is in the center of a thriving grain district, has a “neighbor,” a branch of the Sawers company, nearby in Sheldon, a little town just across the state line in Illinois. It is explained that the branch was located there in order to

assist the elevator operators in the neighborhood to keep abreast of the grain market. According to some reports in Kehtland this little branch office netted its jowners 150,000 last year. The Republican candidate’s board of trade relations came into a more unfavorable light, however, last June when the Raub Grain company, a farmers' co-operative company, of Raub, Ind., found that nearly |50,000 of the company’s money had been lost in board of trade transactions.. When accountants investigated the books they found that the manager, L. W. Kelley, had been dealing in “futures” and that the Sawers Grain company of Chicago held an account of 1:39,000 against the company and McCardle and Black of Indianapolis |6,000 more. Known as Gambling Debts The Indianapolis News referred to these debts as having been incurred in “gambling,” and E. G. Hall, a lawyer of Fowler, instructed the directors not to liquidate them for the same reason. It is worthy of note that the Sawers company has not pressed its claim against the Raub company, although reports here are to the effect that the matter will be taken up by the company after election. So far as known, however, no move has ever been made by McCray s Chicago company to bring up the question of a settlement. Raub is right across the Newton county line in Benton county and the Raub Grain company was a competitor of the grain company controlled by McCray In Kentland. Goodrich Men Involved The sequel to the Raub scandal has brought to light an Interesting connection on the part of the Goodrich administration Involving John W. McCardle, a Goodrich appointee on the public service commission. Mr. McCardle’s son, C. A. McCardle, is a member of the Indianapolis firm of McCardle & Black. Representatives Of McCardle & Black, it is said by Raub residents, had obtained the promise of some of the directors of the company that they could have grain stored in the elevator in payment for the claim held against Kelley. A shortage of cars, however, prevented movement of the grain at this time. The senior McCardle was In Washington and cars were sent to Raub through an order of the Interstate commerce commission, but when they arrived the Raub company refused to send the grhln to Indianapolis dealers. No one here will accuse Mr. McCardle of having used his official position to obtain cars for his son's use, but many remark that it was a strange coincidence that he was in Washington and that the cars for this particular object started to move at the same time.