W. H. Hulbert, H. B. Hudson, Francis Owings, M. J. Roughen, W. H. Todd, were arrested for running a confidence game. W. H. Todd jumped his bond and fled to St. Louis, Mo., where he was apprehended and brought back by Detective Wooldridge.
$300,000,000 Capital.
The book of the Central State Underwriting and Guarantee corporation had promoted 300 corporations and companies which were capitalized at $300,000,000. Stock bonds were issued which was guaranteed by this company. This company further agreed to sell these bonds and stocks to raise the money to financier these companies.
The complaint was made by the Compensating Pipe Organ Company, through C. V. Wisner. The firm is located at Battle Creek, Mich.
W. H. Todd & Co. was employed by the Pipe Organ Company to make a bond issue of $150,000. The brokerage firm, he said, demanded a 1 per cent deposit, amounting to $1,500.
This was paid, according to Wisner's complaint, and Todd & Company undertook to deposit the money with another underwriting company.
Then, he asserts, the bond issue was never made, and Todd & Company failed to repay the $1,500.
The firm conducts a banking, brokerage and underwriting business at room 803, 112 Dearborn street.
Did Heavy Business.
Rare oriental rugs, the most costly tables and chairs, and elaborate grandfather clocks, together with an amazing amount of polished brass work and plate glass, were found in each of the imposing offices raided by the deputy marshals.