Rensselaer Semi-Weekly Republican, Volume 38, Number 86, Rensselaer, Jasper County, 24 July 1906 — RINEHART CASES BEGAN MONDAY. [ARTICLE]

RINEHART CASES BEGAN MONDAY.

The hearing of the Rinehart claims against the Mc-poy estates began an Monday, before Ref eree Bowers, 1 at Hammond, Most of these claims are brought in the name of Mrs. Rinehart. The largest is one for $13,500 which she claims is due her for rent of her portion of the McCoysburg farm for a period of years while her father managed it. About $7,000 is for an amount she claims to have overpaid her father when she paid for the second half of the land.

Several smaller sums.are for, taxes other items, amounting in all to some $22,000. In addi tion to this is W. A. Rinehart’s own claim for SI,OOO for his pay as assignee, during the two weeks Re held that position, and the only known act of importance perlorm ed was permitting Wood Brothers to ship out many thousands ol dollars worth of stock cattle, with an apparent total disregard of the iat crest. of the; other creditors.

Various claims of A. E. Boweu aid sister Mrs. Busey, aggiegating about $13,000 are also set for this hearing. A. T. wants to get in on the groundffloor and to be allowed to hold all the estates for his claims.

Trustee Chapman was not worrying very much . over the probable outcome of these Rinehait claims. Regardtng those in Mrs. Rinehart’s name, khose well informed as to the circumstances and evidence they are based on say there is no mtritinanyof them, in point of law, without it is two or three of the smaller ones, while as for the larger ones, Uncle Mac himself testified at Monticello that he owed his daughter nothing. As to Bill’s SI,OOO demand as assignee, it will naturally be scaled down about 90 per cent anyhow, but whatever it is allowed at, even if allowed in fall, it will cut no figure in the amount the bank creditors will receive, for Trustee Chapman states that whatever he is allowed on the claim will simply be credited so much on which he owes the estates and which the Trustee never expects to|be able to collect, anyhow.

As to whether there would be aoy justice in either of the Rineharts receiving anything further from any of the bankrupt estates, some opinion may be formed from the following facts: There are now pending claims against one or the other of the estates, claims on notes on which Mr. Rinehart is principal and therfore is fairly pnesumed to have got the money, and on which the McCoys are sureties, the follow ing notes. Citizens Bank of Buffalo, N. Y., $6,000. • Wood Bros., Chicago, $7,000. E. W. Bowen & Co.*, $6,000. A. T. Bowen, $4,635. There is also one to A. T. Bowen in which Mrs. Rinehart is the principal for $3,062. There is still another claim by A. T. Bowen for $4,629, on a note given by Alfred JfcCoy to his daughter, and assigned to Bowen.

Besides these items the bank books show au overdraft charged np against Mr. Rinehart of $1,609.01; and the follow unsatisfied notes signed by him, and given in favor Of the bank i One (dated 1896 for $1260,80. Two dated Dec. 30, 1902, tor $1,400 and $1862.50, respectively.

In addition to this the book show that two notes were given which can not be found but are still owed, of $3011.31 and $3006, respectively, also one by Mrs. Rinehart for $4500.

In addition to all these Benia, the old Rensselaer Stock Farm, of which Mr. Rinehart was one of Ihrae equal partners, stiU owes the bank an overdraft of $25,000 and three notes aggregating $13,000

with many years interest. How much of this Mr. Rinehart got the benefit of, or is now responsible for, is yet to be found out. That Mrs. RinehartwlS = gTvI!i = ir half interest in 2,000 acres of land in Hanging Grove is not denied, and of eourse was a proper enough gift when it was made, but it is mentioned here in support of the position taken in thi? article, that how little other people get for the sums they entrusted to the McCoys, that the Rineharts ought iu justice not to have any more.

In this connection it is a matter of justice to here state that in an article published in this paper during the progress of the McCoy trail at Monticello ‘was the statement that A. McCoy’s pass books of the bank showed that when Mrs. Rinehart was in town she .drew money every day, which was charged to her father’s account. The statement was made on the authority of a remark of a former official of the bank. The latter now states bow ever, that what he really said wap that there never was a time when she was in town that she did not so draw money, which of course would be quite a different matter. Whether all or any of the money Mrs. o Rinehart drew on such occasions was for herself, or for her mother, is a matter the bank official had no means of knowing anthing about