NAVE, Frank - Fountain County INGenWeb Project

Delphi, Ind., March 27. —Frank A. Nave, for many years one of Fountain county’s prominent farmers and stock breeders, who in September, 1914, made an assignment for the benefit of his creditors, involving $500,000, was arrested today at his farm south of Attica on warrants from Carroll county, charging him with grand larceny and false pretenses. Nave was indicted on four counts by the Carroll county grand jury Friday and the warrants were served today. Nave was arraigned before Judge James P. Wasson of the circuit court here and gave bond in the sum of $3,000. W. S. Baugh, president of the American National Bank of Lafayette, and Gus Hall, of Delphi; gave bond for Nave and he returned to his home tonight.  The indictment is an echo of the assignment. It is an outgrowth of a deal at Delphi a few weeks before Nave assigned. He bought from Edward A. Bowen, of Delphi, millionaire bank and stock-breeder, 82 head of two year old steers, giving Bowen his note for $6,028. The note was also signed by Nave’s brother. It is alleged that F. A. Nave, when he gave the note, represented that he owned 1,760 acres - Fountain county hand and that it was mortgaged only for $40,000. The records show, it is charged, that the mortgage indebtedness aggregated $135,000. It is alleged that Nave represented to Bowen when he bought the steers that he intended to feed them on his farm near Attica, but instead he hurried them to Chicago and lost money on the deal. It is charged that Nave used this method to obtain ready money. His brother bought $5,000 worth of horses at the same time, but turned them back to Bowen after the assignment of his brother -was announced. He disclaimed any connection with the cattle deal. William S. Baugh, of this city, was named as assignee. Later some Lafayette banks fought the appointment, collusion being charged, but the appointment was upheld. Nave, at the time he assigned, owned 1,760 acres near Attica and 1,500 acres in Jasper county. He was the largest taxpayer, in Fountain County..