Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-07-03
A WALL STREET VICTIM
Fortune Lost, Wife Gone and Intel
Iect Destroyed.
A MISERABLE WRECK OF HUMANITY.
A Prosperous Business man Falls Victim
to the Speculative Craze and it
BlOts Out His Once Bright
Future.

pated the fortune OF +. NJ. Merz, Of Louis
vile, drove his wife from him, wrecked his
mind and sent him to the BloOmingdale
Insane Asylum, where he raves about his
misfortunes. 1t is purely Wall street
romance, which has just come to the sur
face, and is replete with sad and interest
ing chapters Mr.. Merz and his wife, an
intelligent lady, came to New York four
years ago. At that time he controlled the
Merz Architectural Iron Works at Louis.
vile, and he was we'll known and stood
high in German business circles in the
South. Eager to amass speedy fortune,
like many others who have been similarly
wrecked, he entered the speculative pool
OF Wall street, severed his connection with
the iron works and after providing him.
self with sos, 600 in cash he began buying
stocks. As precautionary measure he
left his Louisville real estate in charge OF
frieL DIS and came to the metropolis with
hopeful anticipations of a brilliant career
in the realms of speculation.
A Seductive Opening.
Luck favored him at first, ana encouraged
and elated over his success he invested
more heavily until he had swelled his bank
account to nearly 100000. Led on by his
somewhat remarkable success as an amateur
speculator, he bought heavily OF Wabash
preferred when it was quoted at 81. This
venture was made Immediately after Presi.
dent Garfield was shot. He also dealt in
Louisville and Nashville, and became load.
ed up when the reaction set in. \ serious
decline followed, and in a few weeks Merz
was swamped. His fortune was gone, ana
his air-caste disappeared. Anxious 10 re.
trieve his losses, he returned TO Louisville
and mortgaged portion OF his property
for $4,000, intending TO return to New
York and resume mis- battle in treaCherous
Wall street.
endeayored to restrain him, but her efforts
to keep him in Louisville were OF no avail.
He was wild with speculative excitement,
and his case seemed hopeless. His wife
pleaded with him, but he turned deaf ear
TO her entreaties. When she saw that kind
words were of no avail she threatened TO
leave him forever. Even this threat had
no perceptible effect, and Merz declared
that he would reclaim his fortune lost in
Wall street or die pauper. He returned
to New York, his wife following him. She
sgan impored him to abandon any at
tempt to recover his lost money and plead.
ed with him to return to his home in
Louisville and there begin life anew. He
stubbornly refused, and she left him. IL
was the old, old story. He invested his
$4,000 and lost it, of course. He WAS now
apparently satisfied, and withdrew from
the arena OF speculation.
Repentance Comes Too Late.
He was left comparatively stranger in
this city, his wife having executed her
threat and gone to Cincinnati. His double
loss preyed upon his mind. He grew
moody and melancholy, and developed
| symptoms of insanity He then boarded at
| the Grand Central Hotel, where he had
| formerly resided with his wife when they
visited New York. He continually broOded
over his troubles, and was always talking
about stocks, i'll luck and wife desertion.
| His pride was wounded and his mind dis.
| eased His associates at the hotel few
months ago noticed that he was growing
morose daily, and physicians who were
| called in pronounced him to be sufferer
| from nervous prOstration. They decided
| that il were better that he should be con.
| fined. and he was sent to the Hahnemann
| Hospital. He was not closely confined ,aad
canningly effected his escape and returned
TO the Grand Central Hotel. He informed
| one Of his old associates iu whisper that
| they we're trying to kill him at the hospital
| and he had eluded them.
His Mind Unbalanced.
"Oh, no, they are good people there,
| said the gentleman, trying to console Merz,
| in the hope that he might disarm his base
less suspicion. go,
"No. am afraid they are going to kill
me-" replied Merz with wild stare.
Won't you sign a paper" he pleaded,
"that ! am good man.
After much persuasion the girl induced
| Merz to return to the hospital. He re.
| mained there several days and was trans
ferred TO Bellevue Hospital. Here he was
so noisy that it was decided to remove him
to the Bloomingdae Asylum, whittier he
was taken recently.
He has niece in this city named Mrs.
Tr.i.. but her address is unknown.
! I. ...b gentleman friend she telegraph
{ " uisville for money to support her
IL, .. and it was forwarded. He still owns
lrsi estate valued al several thousand dol,
lars n this city. Mrs. Merz has instituted
| proceedings for divorce in Louisville, and
! II is said that efforts are being made TO
have guardian appointed for her husband.
A reporter learned yesterday at the
| Grand Central Hotel that Merz always paid
his bills promptly and was sober and
| quiet gentleman.
one of his former associates said that
| Merz speculated and lost tGrOrgh the firm
OF Georges, Scots \ Go. and Latham Alex
ander 4 Co.