OCR Text |
Show FRAUD PRACTICED BY E. 0. LEWIS St. Louis, March 19 F. A'. Putnam, former tieasurer of the Lwis enterprises, enter-prises, on tho witness stand In the E. G. Lewis fraud trial today, testified testi-fied that orders sent in for first mortgage notes on University City property were filled by notes secured by a trust agreement and by other notOB unsecured. Ho said the University Heights Realty & Development company advertised ad-vertised it would receive applications for notes securod by first mortgage on University Heights up to $537,-000. $537,-000. Orders came in for something like $900,000 of these notes, lie said. When orders were filled up to the amount of the mortgage, he. said, notes were Issued secured by a trust ugroement botween tho Realty company com-pany and the People's Savings company. com-pany. Putnam testiifed that whllo the total issue of tho Realty company six per cent notes was $1,46S,000, the amount received was $1,100,000. An advertisement which was read to tho Jury stated that the proceeds of tho note sales wore desired for the purchase pur-chase of land. "How much was actually so spent?" District Attorney Huts nsked Putnam. Put-nam. "$S0,000," was tbo reply. |