NAVE, Frank A. - Fountain County INGenWeb Project

Frank A. Nave, the largest land owner and most extensive farmer in Fountain county, on Wednesday of last week made an assignment of all his lands and property to his creditors. The action came as a surprise to his friends and all regret exceedingly that such action was necessary. A complete inventory has not yet been made, but it is known that the liabilities exceed $400,000, and Mr. Nave estimates that his assets will amount to $500,000, so that there may still be a balance left for him after the indebtedness is paid. The creditors are mostly financial institutions, the largest being an eastern life insurance company that has a claim of $115,000. Banks in Attica, Covington and Lafayette are also represented, but in much smaller sums. The mortgaged indebtedness amounts to $165,000, the remainder is unsecured. The assets include Fairview farm, two miles south of Attica, with 1,700 acres of fine land all in one body, and the Nave ranch in Jasper county, consisting of 15,000 acres. In addition to this Mr. Nave has a few thousand dollars of personal property and his crops of this season. William S. Baugh, of Lafayette, was named by Judge Schoonover as trustee for the creditors and he has taken charge. For several years Mr. Nave has been the largest farmer in the county and is widely known among progressive farmers and stockmen throughout the country. Since the death of Sampson Reed, of Covington, he has been the largest individual tax payer in the county. - kbz