OCR Text |
Show FISH TRUST M MM HUT 1 j W.xVernon Booth and One of His i Chief Assistants Face Serious Charges of Grand Jury. 1 ACCUSED OF CONSPIRACY ' TO DEFRAUD BIG BANK 1 Company in Hands of Receiver. Said to Owe $6,000,000; As- ' sets Yet Unknown. CHICAGO, Feb. 27. W. Ycrnnu Booth, president of A. Booth & Co.. tho so-called fish trust, which went into tho hands of a receiver last September, and F. R. Bobbins, former ussistaut treasurer of the company, were indicted today. The', "with others to the grand jury uukuowu," are charged with entering into a conspiracy by means of which they secured "wilfully, maliciously, feloniously," fe-loniously," etc., the sum of $300,000 from the Continental National bank of Chicago. The two mcu aro jointly in-, in-, dfctod in one true' bill, which contains only Ihreo counts, none of them differing differ-ing substantially. V. Vernon Booth inherited from his father what, is said to have been the largest fishing business in the world. Tho elder Bootii was a hardworking bupintss man. who to his last day could and would clean a fish or handle a sailboat sail-boat with any of his employes. His son. William "Vernon Booth, upon his access-ion to power, was ono of. tho best . knewu polo players in the country and was socially prominent. Under his' lead-! crship Booth & Co. branched out and several years ago tho company had grown to proportions which attracted the attention of the United States government. gov-ernment. The firm was brought lo trial for ncceptiug rebates urd pleaded guilty to one count of the indictment. The "case is still under consideration. Owes Six Millions. A. search for assets was instituted before be-fore iMaster-iii-Chancory Hervory Booth in behalf of tho creditor banks to which tho company is alleged to owe large 6u:ns. Tho liabilities were estimated at over $0,000,000, but tho assets dwindled as. the investigation proceeded, and have unofficially been estimated as low as $3,000,000. This investigation has not been concluded. Sensational testimon-. however, was adduced from F. It. Bobbins, who was indicted with Mr. Booth today.. The witness told a startling story of false statements presented to the banks to bolster up the tottering credit of tho firm. These statements. Ivy reducing the figures showing liabilities and increasing in-creasing Hie assets, Mr. Bobbins said, were $2,000,000 away from the true condition of affairs. Basis of Indictmout. The statement of July 19,. alleged lo hnvo been presented to tho Continental National bank, forms tho basis of to-dav's to-dav's indictment. Mr. Bobbins said that when Mr. Booth learned that the statement had been mado to tho banks aud that it was false, ho insisted that the bnnks bo promptly informed of actual ac-tual conditions. This was done at a secret meeting in the Continental National Na-tional bank, tho witness said. Tho whole fabric of tho alleged conspiracy wns laid bare and the future of the great fishing business thrown on tho morcv of tho bankers. For a month the secret was kept from the public. Bonds wero fixed at $25,000 in each case, but capiases were issued, but not formallv served. Tho indicted men have informed tho state's attorney that they will appear in court Monday. |