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New-York tribune. (New York [N.Y.]) 1866-1924, June 29, 1901, Image 1

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V m LXI • X° 10 <)¥.).
A MEDIAEVAL SCENE. *
OF THE CORONATION
OF KING EDWARD.
iJPBOCEPI'RE IN EARL RUSSELL'S CASE-A
LITKRARY PILGRIMAGE TO THOMAS
HARDY'S WESSEX HOME.
<Op> rir-it : 1901: Hy Th«. New- York Tribune.)
Il'.Y CABLE TO THE TRIBtSE]
I/and'-n, June 29, -1 a. m. — The ceremonial at
gt. James's Palace yesterday was well stage
like every function of the King's reign
The ball— j of Friary Court was resplendent in
royal purple, and there were flashing glimpses
p| | i lax-e and scarlet uniforms. The Garter
King • f Arms was the chief actor, and he had a
jonorouF voice which could be heard far away.
pai! HsJl and Pt. James's-Ft. were thronged with
tpectators waiting for something to happen, but
lev ur.l< rstood what was going on. Those clos
est to the palace cheered when they heard the
flourish of trumpets, and only a few favored
spectators in Friary Court heard the proclama
tion of the King's coronation a year hence. It
«as a bright and picturesque spectacle, less med
ieval than the phrasing of the court circular.
but with touches of quaint costume, and color.
There will be a chance for another royal commis
sion for some fortunate Academician, especially
as the King and Queen and their grandchildren
witnessed the scene from the terraces of Marl
borough House.
An equally mediaeval but more prosaic func
tion was • nacted in the House of Lords. This
¦ssl the appointment of a select committee for
PHSUSgtaC procedure for the trial of Earl Russell
p.ers. The precedent established at the
trial of Lord Cardigan was followed closely.
¦SHi the proceedings were so perfect that it was
bard to believe that nothing of the kind had
be^n done in sixty years.
One of the best kept secrets is the quarter from
which initiative for prosecuting Earl Russell
came. Nobody knows whether the impulse was
sseetveol from court, ministry or lords. The
pr •feruling authorities hardly acted automat
ical: y.
A uniqu° literary rMlKflmagp will be made to
| ;¦• a party of ninety-four members of the
riars Club and their friends. It will be
a day's excursion through the corner of Wessex
where Thomas Hardy lives, and where he has
f< md local color for the best of his novels, in
cluding "Tess," "Far from the Madding Crowd"
end "The Meyor of Casterbridge." The party
tve its special train at Wool, in Tess's
¦Vanes' of dairies." and drive seventeen milea
< Bere Heath to Bere Regis, and thence to
Weatherbury Castle. Puddletown and Dorchee
ter, taking tea on the lawn of Hardy's home at
Maxgate, and returning to London about 9
< 'clock. This pilgrimage afield frcm the seat of
the Durbervilies to Weatherbury and Caster
bridge will be a remarkable tribute to the power
cf the novelist.
Lord Lansdowne spoke very guardedly in the
| of Lords last evening on the subject of
r Option. His reply, however, was highly
! cant. The government did nof, he said.
cor.t- mplate conscription for military service be
yond the sea. The inference is drawn from this
reirark that compulsory service for home de
fence is well within the pale of practical politics.
The draw for the Henley regatta will be made
.this afternoon at the meeting of the committee
nr.d captains of clubs, to held in Henly Town
'Hall. This year the draw for the Grand Chal
i?nc;e Cup will be awaited with more than or
dinary anxiety, owing to the entries of the Penn
sylvania and Belgian eights. It is now recog
.jiized that the Americans are extremely speedy.
¦Yesterday the crew did a very fine performance.
'They came over- the full course, and just below
the half way mark they were picked up by the
famous triple sculling team, with Spencer Gol
lan at the bow. George Towns in the middle and
•Torn" Sullivan at stroke. Gradually the Amer
icans wore the scullers down.* and by the time
the White House was reached they were a clear
leneth in front, although the scullers took half
a length start.
Tremendous interest is being taken in the Lon
don athletic clubs' meeting to-day, owing to the
entries at famous American athletes.
While John Morley's biography of Mr. Glad
etor.e will be a standard work written by a man
who understood and loved him, there will be
various s-pecial studies of this many sided states
.man. Among these will be Sydney Button's
monograph on "Gladstone as Chancellor of the
Exchequer." which Mr. Murray will publish dur
ing August.
Dent has la rr p * fi an illustrated volume, • im-
Iterial London." with the text by Arthur H.
Bcavan. and also a promising book for cyclists
by F. W. Bockett. with itineraries for visiting
literary landmarks.
Blackv.-ro<J has bought 'A Story of the Twelfth
Century," by Nellie Bl'-Bsett. whose first work
was "A Fairy Tale of the Sea." It will revive the
French traditions of the Castle Carcassons.
Frankfort Moore's "lies* of Linnets" is receiv
ing final 1 1 rial— for early publication, and Lor
!n Beck'e story. 'An Australian Vagabond," will
be published speedily, under the title "Tom
Brtarhley." A ctory of Euclid reciting the be
¦ksßJassj of the science of geometry will be pub
lished by Newnes.
About twenty thousand copies of "David
Harum" have been sold in England. Australia
and other British colonies. The Australian de
mand for it has been remarkable.
Mrs. Clifford has complied a new dram."- with
essentially a new plot, and E. F. B?nson, follow-
Jns th* example of numerous novelists, is writing
a play. I N. F.
PROCLAIMING THE CORONATION.
OXCE MORE AN ANCIENT CEREMONIAL 13
ENACTED IN LONDON.
(By Th* Associated PHM.I
I London. Jure 2* — Th* royal, proclamation an
r.out.rin* that the coronation of King Edward !f= to
t»k* place In June next, the exact day not yet
being dr-termined upon, was read this morning at
•t 'mi Palace. Temple Bar and the Royal
Exchange, with all the quaint mediaeval scenes
"which markrd the occasion of the proclaiming
of the accession of the King. To-day'a ceremonial
*»« unheralded, so the crush was not so great as
on the. previous occasion. But crowds quickly gath
ers from all dlr*rtlons and thronged the points
St which the announcement was read. The cere
mony b»-Kan at St. Jam**'*, where, from the pur
pl« draped balcony of the palace, the Norroy King
«* Arirn (William Henry Weldon). In a brilliant
Uniform. accompanied by the heralds and pur
eulvant* in gorgeous tabards, and numerous State
••Wall!, read the proclamation.
At the appointed hour four State trumpeters, lav
ishly adorned In gold embroidered tunics, appeared
la front of the balcony. By their side stood the
*orio.. Kin* of Arms, flanked by two royal macers.
. bearing; gold maces, and surrounded by the Blue
Mantle {Gordon Ambrose De Lisle bMft. the Rouse
' &n«cm (Everard Green), the Somerset Herald
(Henry Farnhara Burke), the York Herald (Alfred
POI.AND! POLAND! K)UM'
Scott Scott-Gatty) and the Windsor Herald (Will
iam Alexander Lindsay), all In their full official
regalia: and the Earl Marshal (the Duke of Nor
folk), the Lord Steward (the Earl of Pembroke),
the Lord Chamberlain (the Earl of Clarendon) and
others.
The trumpeters sounded a protracted fanfare, and
then the Norroy King of Arms bared his head and
read the proclamation in a clear voice, which must
have been audible to the royal party, occupying a
stand on the grounds of Maryborough House, facing
the balcony of the palace. King Edward wore an
admiral's uniform. Queen Alexandra and the
others of the royal party watched the ceremony
with the greatest interest, the King using field
glasses to obtain a clearer view.
As the Norroy King of Arms concluded with the
words "God save the King." the trumpeters again
sounded a fanfare, the King, in the mean time,
standing at the salute.
A procession was then formed. Led by a detach
ment of the Horse Guards, five royal carriages,
containing the heralds, pursuivants and other offi
cials, proceeded to Temple Bar and the Royal Ex
change, where the formalities, less picturesque per
haps, were repeated. The Lord Mayor and the
Sheriffs met the procession at Temple Bar.
HEAT RAYS KILL TIIREE.
MERCURY SHOWS A TEMPERATURE OF 94
DEGREES— HOPE FOR TO-DAY.
Three deaths were reported yesterday from
Brooklyn of persons who had been overcome
by the heat. They were:
MATCHESKI. Joseph, died In the Brooklyn Hospital.
MIl-FORD. Mrs. Helen, seventy years old, of No. CO Co
lumbus Place.
WARD. John J.. fortv-nvr years old. of N"o. 209 Clanson
ave.; prostrated In Flushing on Thursday, died In the
Rrooklyn Hospital yesterday.
There were seventeen prostrations frcm the
heat reported in Manhattan and six in Brook
lyn, which did not end fatally.
It is just possible that to-day may offer some
relief from the oppressive heat which has been
afflicting this city. Mr. Emery, who is in charge
of the local Weather Bureau, says there will be
rains and thunderstorms to-day and to-morrow.
The rains may lower the temperature some
what, but, except for the clouding of the sun
and the shutting off of its fierce rays, the con
ditions for heat will be practically the same as
they were yesterday. On Sunday. Mr. Emery
eayp. the weather will be cooler.
Yesterday the mercury started on a record
breaking trip, and failed by only a narrow mar
gin. The ambitious fluid was persistent, and
kept on trying for the high mark long after the
hour at which It usually begins to subside. Not
until .r»:30. r »:30 o'clock in the evening did it give up.
Then it showed a temperature of 94 degrees,
equalling the mark it made for itself in June,
1872. and in June, 1891. but failing to reach
the <.?.-> degrtes it accomplished in June. 1875. or
the higher one of 96 degrees in June, ISSS.
Ninety-four degrees up on top of the tall
building where the Instruments are placed,
equals about 100 degrees down in the streets
where the people walk about and do business.
and only those .vho suffer know what it equals
In the crowded tenement houses. The humidity
remained high all day. showing 66 degrees as
late as 4 o'clock in the afternoon. The coolest
time of the day. counting from midnight on
Thursday, was at G o'clock in the morning.
when there were only 74 degrees of heat. From
that time on to 5:30, the increase was steady.
The breeze blew from the southwest all day
at the rate of from six to twelve miles an hour,
but at night increased in force until It reached
fifteen mile? an hour. This alone made sleep
possible to many, and added materially to the
comfort of many more.
Helena, Mont., was again the coolest place In
the United States yesterday, but even there it
was 64 degrees in the shade, a large increase
over the temperature of the day before. • Kansas
City showed the other extreme, with an even
100 degrees. All over the northeastern portion
of the country the extreme heat obtains, but it
is comparatively cool In the southeastern por
tion. , .
Battery Park was probably one of the coolest
places in the city yesterday. All day long a
refreshing breeze blew off the water, making the
weather tolerable, for those who were fortunate
enough to secure seats in the shade. It was
hot, however, even there, and the children did
not play about a great deal.
It was women's day at the public bath off the
Battery wall, and if any girl old enough to go
Into the water alone and living within a radius
of half a mile of the bath did not come, she
must have be»»n pick. At least, that was the
impression that a stranger would receive. All
day long a steady stream of women and chil
dren—especially the latter— wended its way to
and from the bath, carrying towels and bathing
suits of more or less prlmitlveness. It made no
difference to them whether they dressed for the
water in an old wrapper or any other garment
that was sufficient to satisfy the matron. They
enjoyed the bath, and made po much noise in
the water that one standing outside would think
Bedlam had been let loose within. Some of the
little girls carried life preservers made of sev
eral pieces of cork tied to a string.
In the evening, when the work of the day was
over the people began to come to the park in
fam!l!"s. There was music there, and most of
the people remained until it was over. Many
stayed long after that, and some who. had they
gone home would have returned to superheated
rooms, spent the whole night in the open air. .
WO DEATHS IN WESTCHESTER COUNTY.
The heat yesterday caused the death of two per
sons in Westchester County, and half a dozen resi
dents were overcome. Jacob Bchluud. a well known
resident of Brenxvßle, while picking cherries was
snastruek and fen to the ground. Mr. Schlund,
•who was fifty-three years old. died four hours
later. Catharine Tafft. the five-year-old daughter
of Mrs Mary TnfTt, of North Fourth-aye.. Mount
Vernon. died from a stomach trouble '.-.roußht on
hv plavinp too long in the sun. A well dressed
man was found lylns unconscious in the street at
Kew-Bochelle yesterday afternoon, and was taken
to the New-Rochelle Hospital, where he has lain In
', ronr.io-e state ever since PhvKiolans who ex
amined him say he is suffering from sunstroke.
BITTEN AND SCARED BY DOGS.
CROWD CHASES A MADDENED ERUTE FOR
SEVERAL BLOCKS-ITS BIG JUMP
A Ms yellow and white do*, supposed to be
mad created a panic in Third-aye.. Lexington
ave " and Thirty-seventh and Thirty-sixth sts. at
0:30 o'clock last evening. The animal, yelping
and foaming at the mouth, ran along those thor
oughfares, chased by a large crowd, and terror
izing everybody along its path.
Policeman Joseph L. Naughton. of the East
Thirty-flfth-st. station, first discovered the dog
in front of the tenement house at No. 563 Third
ave The dog sprang at the officer. Xaughton
threw his nleht stick at the animal, and it ran
into the house. Naughton followed, yelling for
people to get out of the way. On the third floor
the policeman again threw his club and the dog
lumo.-.i over the banister and to the ground
floTr It landed unhurt, and dashed out of the
Sor into Third-aye. The policeman followed it
and was Joined by a large crowd. Women and
children hurried indoors as they saw the beast
a P The a nS wa S finally shot by Policeman An
thony \ Strausmar. In front of No. 142 East
Thlm--sixth-st. Nobody wa* bitten by the dog-
T John Foley. eight years old. of No. 242 East
Tv-cmy-eShth-st.. was bitten last night on the
left hand by a dos belonging to Herman
Schwartzkopf. of First-aye. and Nineteenth-st.
He is not seriously injured, and the wound was
attended to at Bellevue Hospital. Young Foley
was playing with the dog. and it is supposed that
the doe bit him accidentally.
A noodle nup belonging to Mrs. J. Martin, of
No 320 East Thirty-third-st.. acted in such a
peculiar manner last night that the owner be
came frightened. Policeman Hugh J. Smith, of
the East Thirty-fifth-st. station, killed the
poodle. --- -
POLAND! POLAND! POLAND!
Th« purest natural spring water In the world.—
AM:. m
CATSKILL MOUNTAIN HOUSE.
Electric u ht>d. Powerful hll^ vL
NEW-YORK, SATURDAY, JUNE 20, 190L -SIXTEEN PAGES.-* TB. <^^\lsku«.
PRINCIPALS IN THE FIRE DEPARTMENT INQUIRY.
DISTRICT ATTORNEY E. A. PHILBIN. FIRE COMMISSIONER JOHN J. SCANNELL.
who conducted the investigation before the grand who was indicted on the charge of conspiracy.
Jury. (Photograph by Rockwood.)
(Photograph by Pach Bros.)
READY TO PAY FOR QUIET.
PROPERTY OWNERS MAY OFFER MONEY
TO NEW-YORK CENTRAL.
WANT MOTIVE POWER OF ITS TRAINS IN
THE CITY CHANGED FROM STEAM
TO ELECTRICITY.
Property owners and residents in Park-aye. !
are preparing to start a subscription to Induce
the New- York Central Railroad to change th«
motive power of its trains between Mott Haven
and the Grand Central Station from steam to
electricity. Some of those chiefly Interested In
the movement say they will pay the railroad at
the rate of $1,000 a block front if the improve
ment is made. A formal appeal to the company
will be made next Wednesday, when President
Newman is expected to return to this city. Ac
tion has been precipitated, so one of the property
owners said to a Tribune reporter yesterday, by
the arrival of hot weather. Because of the beat
people living in Park-aye. are forced to leave
open their windows at night, and as a result,
they say. the heavy puffing of the engines and
the cries of trackmen and switch crews in the
early morning hours make sleep impossible. Con
ditions are the more unendurable, they say. be
cause of the fumes of coal gas from the smoke
stacks of passing engines, which they declare
are run in greater numbers this year than ever
before.
One of the principal agitators In the move to
bring about the abolition of steam in the tun
nel is Morris Putnam Stevens, of No. 34 Plne-st.
Mr. Stevens Is the attorney for the owner of the
L»or*ley apartment house, at the DOTthweM cor
ner of Flfty-sixth-st. and Park-av»*., and of other
real estate parcels along the line of th*» tunnel.
In speaking of the plan to raise a subscription
fund yesterday, he said:
"The substitution of electric for steam power
In the Fourth-aye. tunnel by the New-York Cen
tral company is an Improvement which is of
such imperative necessity to residents along the
route, and which hap hung fire so long, that the
property owners are now willing of themselves
to share in the expense. As th» representative
of the owner of property in the avenue between
Fifty-sixth and Fifty-seventh sts.. I am willing
to pay .sf> a front foot for this Improvement. I
know of many others who would be willing to
contribute like sums of money, and I believe that
when this fact is brought to the attention of the
chief officials of the Central this long desired
change will be undertaken. If the property own
ers In the avenue between Forty-fourth-st. and
the Harlem River unite in raising such a sub
scription $100,000 can speedily be rolled up The
Increase In the rents and the general betterment
of property by the abolition of steam engines
would repay this expense many times over. At
present, the heavy reverberation and the puffing
of the locomotives are a menace to the sick and
a source of indescribable discomfort to every one
else. If the Central gives us any encouragement
whatever, the co-operation of property owners
in sharing as much of the necessary expense as
is possible is well assured."
Residents near the tunnel heartily indorsed
the statements of Mr. Stevens. Many said that
since the coming of hot weather they had been
unable tf- sleep in the early morning hour« be
causa Ol the cries of workmen who were em
ployed in relaying the tracks. Mrs James Me-
Namee, who lives at No. 85 East Fifty-sixth-st..
said:
"The bedlam of noises which awakens us all
about 1 and 2 o'clock in the morning is in
describable. It Is the. cries of nun who are
laying rails, and who on heaving some heavy
weight together yell at short Intervals In uni
son. We hear this or. an average of three
mornings a week. The roar of engines is bad
enough, but when this Is accompanied by yells
and the clanging of rails sleep is out of the
question."
At the Grand Central Station it was said that
me Of the tracks in the tunnel were now
being relaid. but that the work would soon be
finished. Because of the frequency of trains in
the daytime and evening it was said to be only
j possible to do this work after midnight and be
fore daylight.
Mr. Newman wns not at his office yesterday.
The letter presenting the offer of the property
owners will be given him on Wednesday on
his return to the city.
XO ASPHALT DECISION.
THE BTORT CUKRENT IN THE UNITED
STATES WITHOUT FOUNDATION.
[nr cable to Tin: nastnrc]
Caracas, June 28.— The statement published in
the United States that the Supreme Court of
Venezuela had rendered a df"i.sion in favor of
the New-York and Bermudez Company In the
asphalt controversy is not true.
WOLSELEY PRAISES AMSUCAS ARMY.
BAYS IT IS THE FINEBT IX THE WORMS AND IS
DUE TO GOOD VVACES
London. Jun;- lix— During the debate on the
Army Reorganization hill in the House of
Lords to-day. Lord Wolseley. the former com
mander-in-chief of the forces, declared the
United States army was the finest of its size
in the world. He said its superiority was due to
good wages. Great Britain must faO the alter
native of conscription or pounds, shillings and
pence to secure recruits.
POLAND! POLAND! POLAND!
The purest natural spring water In the world.-
Advt.
A" "del* •' their bCi?lnn!nK ere curable with
JAYNE'S I EXPECTORANT.-Adift.
J. J. SCANNELL INDICTED.
TRUE BILLS AGAINST THE FIRE COM
MISSIONER AND MARKS, CHARG
ING CONSPIRACY TO DE
FRAUD THE CITY.
Fire Commissioner John J. Seannell and Will
iam L. Marks were indicted yesterday by the
grand jury, which for the last two weeks has
been investigating the method of purchasing
supplies for the Fire Department. Three in
dictments were handed up, one of which in
cluded both Seannell and Marks, charging them
with conspiracy to defraud the city in the pur
chase of supplies for th«? Fire Department. The
other two charged Commissioner Scannell with
neglect of duty and malfeasance in office.
If true Indictments against Seannell are sus
tained he will be removed from office and will
be disqualified from holding any office in the
future. Both men would also he subject to im
prisonment for not more than one year or to a
fine of $1,000, or both.
Judge Cowing fixed the bail for each at $2.2 "'
The two men had been waiting in the office of
their counsel. Weeks, Battle & Marshall. They
weie taken to the court, where Alderman Mi
cbael Kennedy, of the Ist Assembly District,
gave bail for Commissioner Seannell. and Dr.
John F. Erdman of No. 1.730 Broadway, gave
bail for Marks. While waiting for the bonds to
be signed Commissioner Scannell said: "There
is nothing In th. conduct of my office which
warrants this indictment. An Investigation of
the Fire Department In which I will have an
opportunity to race my accusers will justify
my acts."
District Attorney Philbin began almost two
nv.ntire as° to collect, evidence in connection
with the Fire Department When he thought
he had the subject well in hand he engaged
Samuel H. Ordway, who was counsel for the
Civil Service Commission in the Investigation of
the Police Department promotions, as special
counsel, to assist the grand jury In the ex
amination of witnesses. Mr. Ordway Bald yes
terday that the witnesses examined by the
grand Jury Included nearly all the manufact
urers of fire supplies in the city. Commissioner
Seannell and Mr. Marks had also appeared be
fore the grand jury of their own volition, and
had given much data as to the purchase of
supplies for the Fire -Department.
The joint Indictment for conspiracy accuses
John J. Scannell and William L. Marks with con
spiring to defraud the city in the purchase of
supplies for the Fire Department, by agreeing
to favor bidders who paid commissions to Marks
on goods furnished to the city. The indictment
recites the duty of the Fire Commissioner to
purchase supplies in amounts less than $1,000
with such prudence as a good business man
would show in buying for himsflf, and the fur
ther duty imposed upon him by statute to ad
vertise for bids when the supplies needed ex
ceed in cost $1,000. and to award the contract
to the lowest bidder unless the Boasd of Public
Improvements decides otherwise.
But, says the Indictment, on March 1, ISOO.
Seannell, Marks and others entered into an
agreement by which Seannell was not to pur
chase goods from any one who did not employ
Marks, and Seannell was to cause it to be gen
erally known that any one who employed Marks
and paid him a commission would be favored in
the awarding of contracts for supplies for the
Fire Department.
The indictment has four counts, and specifies
nine offences under each. Five of them are
connection with the purchase of hose. Inferior
hose Is said to have been bought and a com
mission of more than li."> per cent is said to
have been paid to Marks on some of the con
tracts. The B. F. Goodrich Company, the Voor
hees Manufacturing and Rubber Company and
the Akron Rubber Company are the concerns
named as having supplied the hose and paid
the commissions to Marks. Of the other of
ft-nccs charged, one is the purchase of fifty
landing pads, another th<- purchase of some
brass expansion rings; another some hose
patches, and the last, six fresh water connec
tion? bought from Marks for $12 each, although
the market price was only $1 50 each.
The two Indictments against Scannell in
dividually cover the same ground. In each
there are three counts. The first charges
Commissioner Seannell with wilfully omit
ting to perform a duty enjoined by law
upon him as a public officer. The second ac
cuses him of wilful violation of the provision
of the law covering the purchase of supplies by
contract. The third charges wilful fraud upon
the city.
Among the witnesses whose names are in
dorsed on the indictments are Lewis Nixon.
Charles T. Sllsbee. the fire engine manu
facturer; Hugh Bonner, ex-Chief of the
Fire Department; James Clifford. who
was recently dismissed from the depart
ment by Commissioner Seannell because of his
activity in behalf of the firemen; A. T. Docharty,
secretary of the Fire Department, and Thomas
F. Gilroy, jr.
GLASS FACTORIES TO CLOSE DOWN.
Pittsburgr. June — All the flint glass facto
ries of the country operate i under the scales of the
American Flint Glass Workers' Union will close
to-morrow night for periods ranging from four
weeks to two months. Fully forty thousand men
and boys will enjoy the customary summer vacation.
The longest shutdown is In the prescription bottle
branch, where the twenty-five hundred skilled
workers will be idle for two months. The suspen
sion in the chimney branch is for six weeks, and
in the pressed ware branch it is for four weeks.
Many of the non-union nlants also close, which
will greatly increase the number of idle flint work
ers next month.
POLAND! POLAND! POLAND!
The purest natural spring water in the world.-
Advt.
THE LUXURIOUS EVERY DAY TRAIN,
the "Overland Limited" to California, leaves Chi
cago 6:30 p. m. via Chicago and North- \\ estern.
Union Pacific and Southern Pacific Rys. Particu
lars at North-Western Lino Office, 461 Broadway.—
Adrt-
MARQIAXT) & CO. CO DOWN.
THE BROKERAGE FIRM FOLLOWS THE SEVENTH NA~
TJONAL BAXK IX TO FAILURE.
TALK OF INDICTMENTS IX THE BANK CASE
The probability of criminal proceedings beinr< instituted against cer ¦
officials of the Seventh National Bank was discussed yesterday by officers of
the Treasury Department and the Department of Justice at Washington and
among the bankers of this city. No report has yet been isned of the condition
of the bank's affairs, but it is said that the depositors may receive the
full amounts due them. -
The Stock Exchange house of Henry Marquand & Co. made an as?
ment. without preference, to Frank Sullivan Smith. No estimate of the amMfl
of the assets and liabilities could be obtained from any responsible source. The
announcement of the failure was made at the Stock Exchange at the opening
of business, but caused no surprise. There were sold "under the rule" for ac
count of the failed firm 1,024 shares of stock and $13,000 bonds, and 20.450
shares of stock were bought. The stock market was strong and advancing yes
terday.
THE MARQUAND FAILURE.
HEAD OF THE FIRM TRANSFERS REAL
ESTATE TO HIS FATHER.
The Stock Exchange firm of Henry Marquand
& Co.. No. ir><> Broadway, made an assignment
without preference yesterday morning, th" as
signee being Frank Sullivan Smith. Th» an
nouncement of th^ assignment was made at the
firm's office by Frank B. Poor, the junior part
ner, and was read at the opening of business
on the Stock Exchange, where it caused no ex
citement, as the downfall of the firm had been
regarded by Wall Street as inevitable The
failure followed that on Thursday of the Sev
enth National Bank, wh'.ch suspended payment
because of inability to give satisfactory assur
ances to the Controller of the Currency that a
$1,600,000 loan made -by Henry Marquand A Co.
would be tak^n up and the money iodijed in the
bank by Saturday nijrht. There were bought
and sold 'under the rule" for account of the
firm at the Stock Exchange 21.474 shares of.
stock and :?13/XX> (par value) of bonds, as fol
lows:
SOLD.
f&OM St. I,iuls sad Iron Mountain sa.
5T.000 Missouri Pacific trust ss.
4>n» shares l>re»n County Gas and Electric Company or
Bt-rsfn County.
l»v> I,ae;«.l* Gas.
24 St. Louis Southwestern.
ft><> Pennsylvania Railroad.
BOUGHT.
TW share* Louisville Aril Nashville.
Km Delaware ami Hudson.
.•S<»> Consolidated Ga».
M 1"M 1 " Pennsylvania Railroad.
S iorv Brooklyn Rapid Transit.
P..'""' Amalgamated Copper.
1.900 American Totacvo.
4.:;*i> United States Steel ->rrm-n.
'j>>< American i'ar and Foundry common.
500 Sugar mmmon.
fo Atrhis.m prfferre-T.
£•** AtehlAOfl c^mrrn"*?!.
I'm lowa Central preferred.
SW Missouri, Kansas and Texas preferred.
;. . . people's Gas.
Km t^uthern l'aeific.
;i«i St. Ly->u'.<i Si-uthweotem.
.'.T<> T<-nne*s>>i» <*oal and Iron. • •
l.f;i>O Metropolitan Street Railway.
4<h> Si Paul common.
2"" Erie common.
4iV> Manhattan.
The assignee promptly took charge of the
affairs of the failed firm, and began the task of
going over the books. A record of the assign
ment was made at the County Clerk's office at
10:18 o'clock.
NO ESTIMATE YET.
Henry W. Taft. of Strong & Cadwalader. who
is counsel for the assignee, said yesterday, in
answer to a question regarding the firm's con
dition:
"It would be impossible for me at the present
time to give you an accurate statement of the
situation. So far as can be judged by a very
general investigation of the firm's affairs, the
situation looks favorable to the creditors."
Mr. Tuft went on to say that it would proba
bly take several days to investigate fully the
financial status of the firm, as the list of securi
ties was a very long one.
"Will the firm resume?" he was asked.
"That would be impossible for me to say at
th.- present time. The working out of the sit
uation depends to a very large extent on the
realization on securities, especially the more
inactive securities which the firm holds as col
laterals for loans. Consequently we will not
be able to determine anything definite for sev
eral days. Unless there should be a general
¦laughter of those securities. I don't see why
we should not come out all right."
Mr Taft added that in his opinion the
troubles of the firm would not afreet the situa
tion on the Stock Exchange either one way or
the other. He declined to name any of the ac
tive securities held by the firm, beyond saying
that there was some New-York Central stock.
TRANSFER OF REAL, ESTATE.
Henry Marquand figured prominently yester
day in real estate transactions. He transferred
his interests in two large parcels to his father.
Henry G. Marquand. Each transfer was made
for the sum of $1. There was nothing to show
in the papers whether the transfers were made
in payment in full or In part of a loan or what
was the approximate value of the Interest of
Henry Marquand In the properties that changed
hands. One of the titles was for the old build
ing. No. •! Maiden Lane, which carries a mort
gage of $70,000. This building adjoins the site
of the building that the Broadway Building
Company is erecting at the southeast corner of
Maiden Lane and Broadway. The first floor of
this building was to be occupied by the Seventh
National Bank.
The other title was for the Guernsey building.
No. lrtn to 164 Broadway, in which Henry Mar
quand & Co. have their offices. Henry Mar
quand owned a one-third interest in this build-
Ing and this Interest „he transferred to his
father.
The firm of Henry Marquand & Co. was or
ganized in ISOS. Its senior partner, who is the
Stock Exchange member! is Henry Marquand.
son of Henry G. Marquand. the well known
bankers. The Junior partner is Frank B. Poor,
a son of the late Edward E. Poor, who was
president of the National Park Bank. With the
prestige of the names of their fathers to aid the
young partners, the firm soon built up a large
and profitable business. Not confining them
selves, however, to a commission business on
the Stock Exchange, they entered the field of
promotion. One of th<j enterprises which at
tracted their support was the Plttsburg. Shaw
mut and Northern Railroad Company, which
was formed to build a road in Pennsylvania and
1 ontiniiril on itround pun*-.
POLAND! POLAND! POLAND!
The purest natural spring water In the world. —
Advt.
PAIN'S FIBEWORKS FOR THE ITH
To have a successful celebration use the beat.
•._ i i-k :¦:.¦.¦¦¦ i\-l. liiS 00-.tlar.di.— Advc
PRICE THREE CENTS.
OFFICIALS MAYBE ACCUSED
TALK OF PROSECUTIONS FOR THE SEV.
ENTH NATIONAL FAILURE.
From the present outlook it seems far tspnt
unlikely. In the view of many local banker^
that criminal prosecutions may follow the fail»
ure of the Seventh National Bank and that
some of the officials of that unfortunate institu
tion may suffer penalties such as have before
now been Inflicted upon officers of wrecked na
tional banks of this city upon conviction oat
charges of having violated the National Bank
ing laws. It Is recalled that President Fish was
indicted, convicted and sent to prison for ten
years for permitting Ferdinand Ward to wreck
the bank by having checks overcertified and by
rehypothecating securities, and Ward was to*
dieted, convicted and sent to prison for the sams
term. If there has • been overcertiflcation of
checks in the case of the Seventh National
Bank, some of the bankers said yesterday, pro
ceedings may be begun against Mr. Kimball and'
other officers of the bank by the United States
District Attorney. Section UM of the United
States Revised Statutes says:
It shall be unlawful for any officer, clerk or agent
of any national banking association to certify any
check drawn upon the "association unless the per
son or company drawing the check has on deposit
with the association at the time such check is cer
tified an amount of money equal to the amount
specified in such check.
LIMIT TO LOANING.
The Banking law also forbids the loaning Of
money to any one customer in excess of one
tenth of a bank's capital stock. Section 5,200
of the Revised Statutes says:
The total liabilities to any association of any
person or of any company, corporation or firm for
money borrowed, including m the liabilities of a
company or firm the liabilities of the several mem
bers thereof, shall at no tim« exceed one-tenth part
of the amount of the capital stock of such asso
elation actually paid in. But the discount of bin.-*
of exchange drawn in good faith against actually
existing values, and the discount of commercial
paper actually owned by the person negotiating the)
same, shall not be considered as money borrowed.
It would appear that the Seventh National
Bank, with an authorized capital stock of $-VH>.
000. of which at latest accounts only about
§350.000 was outstanding, loaned to Henry Mar
quand & Co. $1.fi00,000. or three or four times
th" amount of its capital stock, unless tho
transaction can be shown to be to some im
portant extent discount of commercial paper
actually owned by the firm of Henry Marquand
& Co.
General Burnett, the United States District-
Attorney, was out of the city yesterday, and so
was his assistant. E. C. Baldwin. One of the
deputies in the office said that General Burnett
was the only one authorized to speak about
possible prosecution of the hank officials, but
that no request for an investigation by the
United States District-Attorney had been re
ceived at the office.
HAD BEEN GOING ON FOR SOME TIME.
A bank officer in a position to know the facts
said yesterday that the loans by the Seventh
National Bank to the firm of Henry Marquand
& Co. had been going on several months, the
firm getting deeper and deeper into the bank
every day. The firm drew checks on the Sev
enth National Bank and had them certified,
promising to make good the overcertiflcation
and putting up as collateral securities which
were not worth the additional amount repr«
setned by the overcertiflcation.
These certified checks, he continued, would be
deposited in the National Park Bank, and
checks against them would be drawn by the
firm on the Park Bank and certified by
that institution. The latter' 3 only risk was the
contingency of failure of the Seventh National,
which until this week seemed remote. The
Seventh National, of course, held Itself re
sponsible for the checks which it had certified
to the National Park Bank, but had to look to
Henry Marquand & Co. to make good the
amount of the overcertincation which it had
granted them. This would be arranged by the
firm depositing with the bank the check which
it had drawn on the Park Bank, and then
a new chepk. representing a little larger over
certification, would be drawn on the Seventh
National and certified by it and then deposited
to the firm's credit with the National Park.
Finally, on Monday, the bank officer continued,
there was presented to the Park Bank a cer
tified check of the Seventh National for |300.
000. which the Park Bank refused to receive.
Judging that the certification of the Seventh
National Bank was no longer of sufficient value
to assure the payment of the amount. It did
certify this check on the following day. how
ever, having meanwhile received from the
Seventh National Bank securities amounting 1 to
several millions as collateral.
PRESIDENT DELAFIELDS STATE.M
The following statement was given out yes
terday afternoon by President Delafield of the
"National Park Bank:
With reference to the report "that the Park
National Bank repudiated a certified check of,
the Seventh National Bank for SSOO.OOO." we are
officially informed that the Park Bank received
a certified check of the Seventh National Bank
for $300,000. which the Seventh National Bank
was unable to pay. In order to assist them, the
Seventh National Bank gave abundant security
for that check. The National Park Bank still
holds that check, with security attached, which
makes collection certain.
The overcertiflcation of checks of stock bro
kerage houses it Is understood is common among
the banks of the financial district, especially the
State banks, as the practice is not prohibited by
the laws of New- York. While technically a vio
lation of the United States statute, it represents
POLAND! POLAND! POLAND!
The purest natural spring water in the world.—
Advt.
NEW TRAIN TO ST. LOUIS
leaves Grand Central Station 5:39 P. M.; reaches
St. Louis 9:20 next night. This 13 the "St. Louia
Limited" of the New-York Central. LsJm Shore
and BUr Four. No excess fare.— Advt.

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