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THE ARGUS. FRIDAY, OCTOBER 14, 1004.
FORTUNE IS GONE
Xtory of the Financial Trouble ol
Martin Kinsman's Associate.
CAN'T REALIZE ON STOCK
Claims to Hold Interest Worth Three
Quarters of a Million.
It has been a matter of common
gossip that within the past four years
C. A. Jamison, once the right hand
man of Martin Kingman and vice pres
ident in half a dozen corporations
which bear the Kingman name, had
been reduced from affluence to a con
dition of financial helplessness.
Wednesday the matter became pub
lic property when a voluminous bill
was filed in the office of the Peoria
circuit clerk by C. A. Jamison against
his old partner and all the members
of all the companies with which King
man is associated and in which he de
clares that all his stock in those corn
panics is virtually tied up; that it
amounts in all to 5.8M) shares of a
par value of ?rxx,uuo. but really worth
$7u0,fioii. He therefore calls for an
accounting and asks that a receiver
be appointed so that he can be given
relief in the premises.
Mock I n Collateral.
Br fort; proceeding further it id free
ly stated that all Jamison's holdings
f Kingman stock have passed out
of his immediate possession. The
story runs that every share of it has
been put up as collateral for debts
which he cannot pay. so that it is the
banks, and not Jamison himself who
are really behind this bill in chancery
for relief. It is said by men who pro
fess to know that when Jamison and
Kingman quarreled and separated
Jamison would have had enough to
live on in luxurious ease, but he went
recklessly into fancy livestock, buying
highbred !c nr. j't j-r head
and stocking an extensive farm in In
diana. There was a man in town
named Magenheimer who was paid
$7").ihi) in commissions by Jamison for
picking up what were supinjsed to be
gooil things. It was not long before
Jamison ran to the end of his cash re
sources and then he began putting up
his Kingman stock us collateral. He
kept putting it up until it had all pass
ed out of his possession and then his
livestock was attached, his Indiana
farm was sold rik! it is alleged that
Kingman sent an agent into Indiana
and bought up the deeds held by the
sheriff after the foreclosure proceed
ings. Two weeks ago Jamison's home
stead in Peoria was sold and it is
now said that the once half-millionaire
is badly tied up.
Made Money Itapltllr.
In the bill filed with Jamison as
complainant he attributes his present
financial condition to the machinations
of Martin Kingman. He recites how
the firm of Kingman & Co. was in
corporated in 1SS2 with a capitaliza
tion of 1200,000 in 2,000 shares of the
par value of $100 each, of which King
man' held 1.0G7. Jamison tl0f and G.
H. Schimpff 2G7 shares. Its business
was so profitable that at the end of
the first year it declared and paid a
dividend of 50 per cent. In 1SS9 the
capital stock of the concern was in
creased from $200,000 to $000,000 and
Jamison became the holder of 1.931
shares. So much money continued to
be made that the surplus profits were
used in creating new corporations and
in the end there were the original con
cern of Kingman & Co. with a capi
tal of $C0O,00o; the Kingman Imple
ment company of Omaha. $20u.OitO;
the Kingman-Moore Implement com
pany of Kansas City. $2-"0.000; the
Kingman Implement company of St.
I,ouis, $100,000; the Kingman Imple
ment company of Texas. $100,oimi; and
the Kingman Plow company of Peo
ria. $000,000, making a total capitali
zation of $l,S50,00u. in which Jamison
claims to hold stock of a par value of
$5SS,i00. but really worth $73u.ni0, and
on which he cannot realize.
KlnK'ixin i DIrtntwr.
lie states in the bill that Kingman
arbitrarily forced him out of the con
cern and then tried to destroy his cred
it; that he caused all the locks of ttie
company's buildings in this city to be
changed, also changed t he combina
tions on the safes and vaults; ignored
him at the meetings of the directors
so that Jamison could not get a sec
ond to any of his motions; that he was
dominated by Kingman when ho was
intimately associated with him and
that when he was discharged on short
notice as vice president and general
manager of the eompany his desk was
removed and an unknown man was put
in his place. lie declares that King
man has tried to buy his to;k sit a
price f;:r Klow its actual value; th;;t
he has incurred large liabilities and
has had to put up his stock as security
ami that he is practically helpless.
The bill covers 4 pages of typewrit
ten legal cap and is divided into 27
chapters, each one of which tells a
harrowing tale, while tin- entire bill
reads like those novels which are put
on the market in yellow covers.
Impressions Gained by Cock Inland
er on Kxtended Business
ADMINISTRATION HAS FIGHT
Conservatives Opposing Establishment
of Friendly Commerce Relations
With Uncle Sam.
"Wirt Taylor, the Rock Island com
mercial traveler, returned today from
an extended business trip in Canada.
Mr. Taylor has many very interesting
things to tell of the business condi
tions in Canada at the present time,
and the is-iv.-, of the campi'g.i which
is now on in full blast there.
The campaign is in many ways a
much more interesting one than our
own presidential contest, as the is
sues are of graver importance. There
are several issues, and the faction
now in power is fighting hard to re
tain its control of the government.
One of the principal issues is the ac
tion of the ruling party in connection
with the construction of the Grand
Trunk Pacific railway, which has its
main offices in Chicago, and which, if
built, will have its terminal point
within the boundaries of the United
lllK X ii iii for Knilroud.
It is proposed by the government,
if reinstated, to expend about $l."o.oim,
ooo for the construction of the road,
and then to turn over the entire sys
tem to the railway company. This
measure is being fought hard by the
conservative, as much on account of
its evident value to American interest
as the dislike of corporation interests
getting such a big lot of government
money. The question of reciprocity
with the I'nted States is an issue.
Though the conservatives desire the
reciprocity, they consider that in past
treaties with this country they have
not had just treatment, and are afraid
to enter another compact, at present.
The governing party is severely crit
icised for not having used its power
to settle the Alaskan boundary ques
tion, instead of giving up tiie task and
allowing commissioners appointed by
the crown to settle the dispute. It is
held that the commissioner from Eng
land gave the I'nited States the best
of the question, where Canada was
proportionately ill treated. The gov
ernment permitted the Canadian gov-
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Pattern Hats $2.98 to $9
Furs $3.98 to $37.50.
Waists 98c to $7.50.
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Overcoats $9.00 to $18.00
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Men's Hats $2.00
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319-321 Twentieth Street, Rock Island, Illinois.
ernment to appoint its commissioner,
and gave them full power to act. The
commissioners failed to come to any
agreement, and an Phiglish commis
sioner was appointed.
Mill IotiEl- INiptihif Ion.
The business men of Canada, many
of them American, prophesy that with
in the next 10 years the population of
the Dominion will have been doubled.
The feeling is that of "let well enough
alone," and the -ont rolling party will
probably bo returned to power in the
Will Lecture in German.
W. II. Watson will give his lecture
on "Juggernaut Christian Science Ex
posed." in German at the Hock Island
Turner hall in the near future. He
halls of Davenport. He is a deep stu
dent of sociology and handles his sub
ject most convincingly. He says that
"' Kddy. the mother of Christian
Science, is a plagiarist and quotes fa
:. iis writers to substantiate his state-
has spoken in the public schools am! Intents.
of S6e TOWN. 3
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