Rensselaer Semi-Weekly Republican, Volume 36, Number 74, Rensselaer, Jasper County, 10 May 1904 — Blodgett Was Here Again. [ARTICLE]

Blodgett Was Here Again.

W. H. Blodgett, the celebrated staff corespondent of the Indianapolis News, was here a few days ago, digging into the McCoy Bank fpilnre again and Friday evening had a two column article in reference thereto. The article is largely made up of a list of depositors, more or less guesswork. The following extracts from tie article, are given to show its general terror, but we vouch for neither the accuracy of the statements, nor the correctness of his conclusions.

What A. McCoy & Go’s bank has done to the people, not only of this county, hut to the people of the north part of the State, will not be fully known for along time. There seems to be a profound determination on the part of those who have the knowledge, not to let much of it get to the creditors. Diligent inquiry on the part of those who would like to know the the amount of the liabilities leads them to believe that the debts of the banking firm will aggregate close to $500,000, and perhaps more than that for every day the liabilities appear to be increasing and the assets growing smaller. The list of creditors that follows is only a partial one, perhaps not onethird, for no one who has seen the bank's books will tell what is in them. But what is given furnishes some idea of the magnitude of the failure.

First National Bank Lafayette SIO,OOO Merchants’ National Bank Lafayette. 10,000 Bowen Bank, Delphi 3,500 Maud Irwin, olerk McCoy's Bank... 600 Roselawn Banking aud Loan Co ' 6CO Horace Marble Wheatfield Bank 1.600

The Widow’s Mite. Mrs. Hettie Reynolds $ 100 Mrs. A. Pruett 200 Mrs- McDaniels 7,000 Mrs. Dr. Alter 6,000 Mrs. Morgan 300 Eliza'Galbraith 190 Mrs. Michaels 2,700 Rebecca J. Porter 600 Mrs. Peyton 10 Lennie A. Gant 20 Eunice I. Morris . 350 Mrs. Shea 300 Mrs. Israel 20 Mrs. Maggie Welsh Valpo. 500 Mrs. Oairie Healy., 345 Mrs, Gish .... 175 Mrs. Sophia Ohiloote 600 M*.- 1 Bingham 1,500 Au. ther interesting feature of banking life in Rensselaer was the oare that A. McCoy &Co. took of the affaire of the schools. It is not long since the bank entertained the school teachers, and much comment was made over it. About all the teachers who had money put it in the McCoy Bank. Here are a few who are creditors:

School and School-Teachers. W. H. Sanders, superinten- <• dent city schools $ 200 Mias Sanders (sister to WE) 500 W. O. Hiatt, principal, city schools 500 H. H. Bass, teacher 600 T. J. Headlee, teacher 150 Miss Mande Allen, teacher 125 Miss Stella Shields, teacher 125 O. E. Frazee, teacher.S’.... 600 Mrs. Jesse Nichols, teacher 940 L. H. Hamilton, Co Snpt.. 600 Nellie Byrd, teaohor .... 100

St. Joseph’s College Indian school 2,800 St. Joseph’s Colb ge...... 2,500 Miss Ora Duvall, music teacher 87 Wilbur Sayler, teacher .... 300 Tillie Malohow, teacher.... 100 A number of other teachers are away at present, and it can not be ascertained who, beside those named, have money with the McCoys, but it is said that this list does not comprise one-fifth of these connected with various schools who help to swell the army of creditors,

The city aud county officers did not escape, either. The McCoys are great politicians and practically run things, not only in Jasper county, but all through the Tenth congressional district. So far cs known the list of public officers who were caught as follows:

Public Officers. Charles Chamberlain, superintendent city light plant $1,600 S R. Nichols, county treas 22,000 M. B. Price, Co surveyor... 400 J. R. Phillips, Co assessor. 1,500 Joseph Stewart, Tp trustee 1,000 J. F. Major, county clerk.. 3,000 J. fl. Chapman, city treas. 610 CM. Blue, township trustee 3,036 Fred Waymire, Co Oom.. • 250 S. L. Luce, trustee 1,700 John Bill, trustee 1 500 Eli Arnold, trustee 1,000 B. D. Comer, trustee 500

G. M. Wilcox, trustee .... 3,000 But those who have been figuring on the possible assets say that the 3,300 acres of land assigned will not bring $100,000; that the equities will amount almost to nothing, that about all of the good paper in the bank has been put up as collateral and that when the lawyers get through with their fees, when the court costs are paid, when the cost for administration is settled, there will not be a great deal left for the creditors.

The Ladies’ Home Journal in its May number printed an attack on patent’medicines, giving a long list □f remedies containg an amount of alcohol and other harmful drugs Among the number was “Dr. Pierce’s Favorite Prescription” which was said to contain 17 per cent of alcohol. Tae manufactures of the medicine have sued the publishers of the Journal for $200,000 damages for libel. Dr. Pierce is a very shrewd advertiser, and will get a lot of good advertising out of his big suit, at very little cost.