Bedford (IN) Weekly, August 16, 1931, p. 4.
The West Baden Springs Company that filed articles at the State House
Thursday, has $1,000,000 capital stock and will build a health resort to
take the place of the one recently destroyed by fire. The directors are Lee
W. Sinclair, Mrs. Caddie P. Sinclair, Miss Lillian Sinclair, James F.
Persise and Mrs. Arminta L. Persise. E. B. Rhodes, who owned a one-third
interest in the West Baden repsort, is not in the new company.
Rhodes and Sinclair often disagreed. Sinclair controlled the property and
made expenditures whether Rhodes liked it or not. It is reported that
Sinclair paid Rhodes $168,000 for his interest in the ashes and grounds.
The same situation was largely due with George W. Campbell of Bloomington.
He owned large notes for sale of an interest in the springs, secured by
second mortgage, but improvements were being continually made so that
nothing was paid. When the fire occurred, however, these notes had to be
cared for before another mortgage could be secured, and Mr. Campbell has
been paid his debt in full without controversy. Mr. Campbell was at one
time a large owner in West Baden, and Sinclair bought his interest giving a
second mortgage. The directors of the new company are all of Sinclair's
family.