Hamilton's Defalcation
Cause a Shortage of $11,00 in Reynold's Estate.
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AN OFFER OF $500
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Comes from His Bondsman, Dr. Herdman, to
Settle, but It is Refused.
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Some few years ago Helen A. Reynolds was adjudged insane in the probate court. She had property in the nature of good securities amounting to $13,000. Alexander Hamilton was appointed her guardian, and the records in the probate court show that he appropriated to his own use about $11,000. A judgment was secured against him for the amount and John R. Miner was appointed guardian for Miss Reynolds in his stead.
Mr. Hamilton turned over his house and lot, valued.at $68,500, but upon it was a mortgage of $5, 500. He also gave $1,000 in cash, and Mrs. Hamilton gave her furniture.
Dr. W. J. Herdman was a bondsman for Mr. Hamilton. Four different sets of bonds were given, the other signers being John Moore and Joel Hamilton, both deceased, and Kate Hale, who has removed to Arizona.
It has become a question as to what the estate of Helen A. Reynolds can realize from the judgment against Mr. Hamilton's bondsmen. Dr. Herdman is the only one reachable, and it would be a difficult matter to prove just how much the defalcation was when Dr. Herdman was on the bonds. A proposition came from Dr. Herdman in the probate court this morning to settle for $500 rather than have any litigation. Mr. Miner, by his attorney M. J. Cavanaugh, advised that the proposition be accepted, but matter was taken under advisement until this afternoon.
The estate of Miss Reynolds bas dwindled down from its former proportions of $13,000 to about $3,000. She is an incurable patient in the insane asylum.
The petition was denied.
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Ann Arbor Argus-Democrat