, 1876-06-26
DANIEL DREW'S FAILURE.
Tic Examination in 1lankruptcy---A FrnnIs
Statement by the bankrupt.

Tic Examination in HankruptCy..-A Trunk
Statement by the bankrupt.
Stf rnrk 71nIfs, June21.
The examination nt Daniel Drew ~ 10 the
condition If bis aTntrs was conducted bcfnrc
KcgIster !. T. William. on Tuesdny last Mt the
rcsidcncc If tho hnnkrupt's son, William Drew,
ut 1srcwstere, putnu,n County. Mr. eln,un
stcrnc, who appeared III lchnlf Of the Assignee,
examined MIR. Drew, wlm appeared q little ncs-
yuu<, but nevertheless replied To the numerous
Undergraduates IN clear md frank ,nanner, lie
stated tllat In 1879 he met with his fr.t loascs,
Wien . rorncr wn. made n Northwestern:
IL nm t, }sSt in t,In, tns ish'd If. ,,r,; Of
t, Ia,s va. SS oSo,,t a5 sioeoo M ss' waoasi .sS
a,u! Cara,la Southern. 4 loss OF 81, ,.4O0,0e0 was
masle a'uut \ year ago through being t1,ori 81
Wabash. Is lorscs IN Il. great many "puts
surJ.oo o.. Canton, and almost as large an
a,no,,nt OF, Lake Shorc. There wcrr also other
H,ltns fst otl k'lal!rr matters. IL reference to
thesc, Mr., brew SAIL TINT Mr. Isoy,!, q I,oyd,
details than he was Tie toas III Canton antl
Lake Hhnrc was caused ly these stnekt, which
had lmr at par, fal1l'E iar below. lie Thought
that ab,ut sfxtcgta ltunta ago lie Owned great
deal naure than h. owed, but he WIS driven 20
that l1c wa compelled to 70 tnto bankruptcy.
an,I Western unlvers!ttee. liz titharsca large
putns inf interest, anti seceyGt' III tnco'nc. 1lu
Ca,lnsia Southern, hut It'd mi think he held
, auy otlcr stuck. lie had put ur Hnlle OF the
Ca1s.pn for borrowed mu,lcy. All The grand.
children wcre secured inr tse intney hcqucatl.ed
ttrr, l,y ttcis father. Thu last loss was the
Quicksilver tnintng. g.stnck, almut fifteen or SIX
ten months ast', mud hr Ind not been On the
street ancc. Very o'tc1 tc brokers sold when
they had no right to d. Ft-harlng margin
anil considerable OF this WIS t}ui,Ghy !uinsnn,
Chasc & Co. This firms account VIII! enormous,
lie had not Seen l.otsoi, since teufcs.iiycr1utt
nor had he srrr the FIRMS statement: In le7l
c was eorncred, Hn not wsf'inS us hr'ksrs ;,
| about 81 ,0n in tlc,t. When he knew Wabash
| waud ~ tis.~n they bought It III without t,is
or'ler1. He waa hol,l gut u the t!uicks!lyer BY
a Ut '"st'f s ars f''s L ho e; t"irfs G"1 4 as cq MT s
hp.ght IN wien they should have lctt
certain stsks ALONE, Instead u losing terribly,
| thry would have made iiissre,.se Profits. III
Nor.hwcssrrn sl'ors, a'nl Cox los, s5oo,oo; In
1915 Tie lTOkcrs hull heaps Of his securities; g
was unable to say whether Rolirson paid iit
slare Of the losscs; III. kept no a'cnuntss, bnt
raine liaIlc 10 hs grandchildren US cxerut.r,
a,,l In lbGl nladr Il nrttitnent, giving them lts
obligations; lIc owed them aH,nt shU0,tShJ; o1Ic
liasi bcen pail NJ sImc: until Jan. !, l571, the
them; lie could not tell what the s.twk
Of thu New .Jersvy Steamboat Company
was worth, the Company OWNS the !'ct.-
pe's Line Of sieaE,eFs; hc "wilcd gA0
flarcs which lie put up with the Farmcrs' Loan
! and Trust Cu,]aNy. there were no buyers ft,r
Tie strlt nnd Il has pa' ~ dividends Tor niohg
time; ]!c pat f0 Hllarc for Il when he bnught
1t; n,lfndY wants the stovk; llc llai rBtiniatetl
it III S:s, III his schedule, because at the TIM hn
thought 1t worth That mich; the farm Lands atl
iuiulng the University are not very profitable;
the Farmers Loan and Trust COMPANY ami lIs
son William were !lc only parties holding any
property or scc,ritir. Of any k;,n' Elat liz ia;l
any interest III; ia fur as lie knew thc hrukurt
held nothing unless they had ''rl,lErfrA him
nut Of IT." he did mt convey anything to my
the examination was adjourncsl, no datc for its
resumption hc!ng liked.