Adlai Stevenson’s Name Was the Bait in a Port Townsend Loan Swindle

PORT TOWNSEND, April 12.—Special.—The Interstate Building and Loan Association of Bloomington, Ill., of which Adlai E. Stevenson, Vice President of the United States, is president, and which is now being investigated by the Illinois legislature, victimized and succeeded in relieving several prominent citizens of this city of various sums of money. The account in Thursday’s Post-Intelligencer from Springfield, Ill., merely confirmed the opinion of the local dupes here who had been deceived.

Last November one W. D. Stafford, who claimed to be a first cousin of President Stevenson, came to Port Townsend, and after acquainting himself with the business men, broached the object of his visit by saying that when Mr. Stevenson on his Western tour, accompanied by his family, visited Port Townsend, he was so charmed with the surroundings that he had interested his company, the Interstate Building and Loan Association of Bloomington, sufficiently to solicit loans on Port Townsend property. The bait was gobbled up like trout in a brook leaping for flies. As a preliminary contingent, however, Mr. Stafford said it would be necessary for applicants to subscribe for a certain number of shares of stock in the company before Grover Cleveland’s running mate would condescend to make loans on Port Townsend real estate. The idea of interesting the second official of the United States in local realty took like wildfire, and the way applications flowed in on Mr. Stafford fairly took away the latter’s breath.

One of the first to enrich the Vice President’s exchequer were Judge J. A. Kuhn and Postmaster G. G. McNamara, both of whom were personally acquainted with Mr. Stevenson. It was upon the latter’s recommendation that McNamara got the appointment of postmaster. Judge Kuhn, while a member of the national Democratic central committee, visited Washington City frequently, and became well acquainted with Mr. Stevenson, and was a loyal supporter of his during the campaign. Many times he said he wished Stevenson headed the national ticket in preference to Grover Cleveland. Since he was so outrageously taken in he thinks differently. Stafford received from Kuhn and McNamara money and gave receipts therefor and took their applications for the loans. Many other citizens were taken in in the same manner.

Time rolled by, and nothing was heard of Stafford or the promised loans. Then T. J. Bunn, the company’s secretary, was telegraphed to about the matter, and he wired back: ‘We have no loans, and no one is authorized to solicit the same.’ However, he did send Messrs. Kuhn and McNamara certificates of shares of stock, which were signed by A. E. Stevenson as president. That was all they ever got for their money. In speaking of the matter Friday, Judge Kuhn characterized the scheme as a petit larceny swindling institution, and he properly roasted the Vice President of the United States for his connection in the matter.