The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-12-28
DEFALCATl0N AND FLIGHT.
HR. OTIS ID. SUIN MISdPPROPRIAT
ING OyER S3OO,OOO.


gnkine the Money of his Relatives and tbnt
of the Union Ienguc club " hat FolIow-
ed the Failure oi wall street Broker
Omce- of Tru-, Held by the Defnulicr.
Mr.. Otis ID Swan, for several years Sec
tetary Of the Union League, director In the New
Work and Lenox Hospitals, Secretary OF the
Bloccker Savings Bank, nd avail street broker,
Dn Friday morning las. started from his house,
In Oyster Bay, for this city. lie was seen here
on that day 10y several frende, among whom
were one or two Of his relatives. To these he
impaired the informatiOn that he was imam
clally embarrassed, and that he lad msappro-
priated money that he held in trust for hts
brother, Frederick swan, and his sister Mrs.
Fearing, and that It would bc necessary for him
10 quit the city, lie did not rcturn home that
night. and since then has not been seen or b ard
from by any Of his relatives or friends.
The amount that Mr. swan is alleged 10
have taken is estimated at $4,000. good
deal OF this money was lost by him IN wall
Btrcet spccuations. Several years ago be failed
hs a broker, aud at that time uscd oncy be-
longing to his brothers. That money, though,
was not held. like the money he has recently
Appropriated as 1iuciary trust.
Though several OF the Younger members OF
MIR swans and Mr. Fcaring's flmilies were
hware II his action and subsequent niRht, they
roncc led the knowledge OF 1t from the elder
members II the family until Tuesday moruin.,
- rs not to mar their enjoyment OF Christmas.
4 ,, ono -, tho ,,,uv "Nv, h,,, ,..r 49,,
o''" '"" VI '"S i""'''F' w ""'' "e'" 7'
stunned ny the shock OF TINS discovery
That we have as vet mnde no inves-
,ic,,to, and b.ncs can give no ,horoushtv
'N"''"' ""N ' ~''N ~ 'V''"N"'
accurate account oi how loLg he was IN taxing
Ahe money or lust exactly how he salandersd
II. His misappropriation OF these funds, how
ever. has doubtless been going on ever since hts
failure In 1873. We know that It Ia impossible
p. -, Al, 4. - . - IL -,
10 cohce'i 'nis III a''eI 'Vr 'ength Vi 'ihc' anu
think II best to give all the facts"
AZ, S,-,n daf,uitad ,xi,h h.,waon f,ur and
~ '" ." "'"
hve Thousand collars belonging TO the Union
LEAGUE Club The money was held in tru,t by
-, .a l.,,o,,r, ,,,.t I-,..,,.,. ~, ,h, D,l,,,,,,
hih as 9eo'etaiS anu ''e"su'e' Vi the pd''ulhk
FUND Committee Of the CLUB ana represe enfed
Sptera.t that ;, al accrial ON Irut,aI - tas rag-
-. - ,,,
ss'e'cu "'"u9' i"o "eia'V"'"" was u'-S"NN'ei
last Friday, but was communicated to very few
m,mners Of the club. Mr Watrous of the
h,nsa conr,i,,., s.,l t,s, ov.nt,, no, tho
mouse committee shn l''t evening tna' 'he
Misrepresentation Of the money was a great sur
,,r,se Ia Nr S,v,n's ,riends Tbov h,d ,l,r.d
The most imphcit confidence IN him' ana held
high opinion OF hi. honesty. lie was one OF tho
founders of the onion H. gue Clue. and bad a
Mr. Swan Thought th. loss to the clui, would
be made good. He added thai Mr.. swan han not
committed any act, sol ra. he knew. that would
warrant MS arrest He failed In W Ill street Ia
1873. and afirrwdrn n rted IA business again.
but had become en- hafrassed through bad spec
ulatOns. Nr. Schulz f-t counleit that Mr.
Mr.. John A. Weeks, Chairman Of the Building
Fund Committee Of the Jnion League CLUB,
SAID that the club h "a rye amount ~ money
invested ia United states bond. The bonds