People's Pilot, Volume 4, Number 11, Rensselaer, Jasper County, 31 August 1894 — TAX NOT PAID. [ARTICLE]

TAX NOT PAID.

A Big Whisky Trust Fails to Secure MuehNceded Cash. Peoria, 111., Aug. 29.—At the vgry last moment the officers of the whisky trust and the syndicate of New York bankers failed to come to an agreement regarding the loan of several million dollars, and there is great perplexity among the Peoria distillers regarding the difficulty. They can see an explanation only in the fact that there was too great a spirit for speculation manifest, and it is believed that a fortune has been made on the stock exchange in New York. Every day for nearly two weeks the hope has been held out that the money would surely be forthcoming the day following, and when the Illinois Trust & Savings! bank of Chicago, as trustee, last Saturday assumed control of four of the bonded warehouses in this city—namely: Woolner’s, Manhattan, Great Western and Monarch —and appointed custodians, it was supposed that everything had been satisfactorily settled and that Monday morning $5,000,000 tax would be paid here and at Pekin. The regauging had been completed and the banking company had appointed custodians. The rumors Saturday and the fall in stock occasioned uneasiness here, for it was regarded as a bluff. The money did not reach here, however, the tax was not paid, and Monday afternoon the Illinois Trust company released the bonded warehouse that had been in its possession. The total payment of tax here since the passage of the tariff bill has been $2,419,718, or about half of what it was thought the collections would be. Most of it was paid by the trust. The total Pekin collections have been less than $1,000,000, most of it paid by antitrust houses. Nothing was withdrawn by the trust in Pekin Monday. There are at present in the Star, Crescent. Hamburg and Enterprise warehouses in that city 1,800,000 gallons, while in Peoria warehouses there are 2,872,000 gallons, all the property of the trust. The distilling company withdrew about half the goods it had in bond in the country. All the spirits were withdrawn from Cincinnati, Chicago. Omaha, Terre Haute, St. Louis, St. Paul and Nebraska City, leaving only Peoria and Pekin.