New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-08-26
w J. HUTCHINSON'S DEBTS.
HIS EFFORTS TO SATISFY CREDITORS.


DEFICIENCY.
william, Z Hutchinson was expelled from thc
Stock Exchange two years ago for allegeu I"uu ~
his dealings with his principal customer 0onn -.
Dnh. of Boston, who had engineered corn'
in Hannibal and st. Joseph common STOCK 'nrous"
tbe stock brokerage firm Of Kennedy tutcni"s""
A. Co Mr. Hutchinson was the rcII hc"u y. 'N0
bouse After his expulsion little was he'Iu u ~ NM -
in Wall Street until the recent failure oi lnc van
Street Bank. of which he was director i0 i'i-
besnn an action in the courts for reinstatement III
the Exchange, and 1t was known also th"t ne was
~ +,mos n heavy speculator in stocks Immediately
after The failure Of the bank rumors ahout ms Ia
hlities TO il recalled attention to BIN. 1t has neeh
,e,orted receutly that he was the real cause OF 'e
failure and had improperly acquired d l"is0
amount of securities belonging to the bahK' L'N'
week Mr. Hutchinson went to the "lille Hlo'n
tains but be returned to Newly ork with his 1aihiy
on Sunday nicht. He was at the Nau S'i'o'
p,nl, Yesterday, and for a long time was III
cousul alton with several OF his associate u"V'.D-'
o,d with friends who called there to see him. HIS
fgniiy went to his country house at seaoris.-, ~
! It Is understood that before he went toiDe NhHe
Mountains Nh Hutchinson paid the greater p'f'
ofbis indebtedness to the bank lie still owes IL
rcrsonal loan of something less than $4,000 oudl
n oonorantor ON two loans OF $4,000 eaCh' "hIVA
are parlly secured. The amount vMch h' ms .''''
the bink since it's failure Is stated al "'o''
s121 coo. The bank held little security ior TINS
sum- which is report ed TO have been Obtained rom
HIM 10y threats of legal proceedings.
MIR. osBOHN's PLAIN IALK WITH NM
About his relations with the bank Wall
Street has been full OF rumols. 1t i' known
tbat ON the day of the failure Charles y.
Osborn. who has takcu prominent lai' IA the eA-
,r,in,tion of its affairs sent for MI. hutchinson
and told HIM plainly that If hc would escape di--
grace ne must repay the bank substantial part oi
h. loans without delay. MI Hutchinson obtained
s.mc $4,000 from John ID. >ayba"h' "i '"hh
Eloo1rood a to-. ou pledge of doubtful scall' s.
and $40 900 90 80 900 from J. IT, Cornell VIII"
whom hc ha. long been intimate. lie "a7 INNS '"-
oblcd to nav thc bank over 4GOooo ON iAe d't 'N"'
t,. d.i,,pd va.made by Mr. Osborn. Since tnat
tne be has restored about q, much more. The n'i'
oa,,rs have pcr.istclOy declined to speak about
Mr.. Hutchinson or to say at any time to what
em1unt hc was indebted to the bank
rXuArsIING ni. PERSONAL WsuVb'Is.
The failure has revealed the fact that
Mr. Hutchinson was financially eW'W-
rasscd personally. 70 pay the bank ana other
creditors. he ha. used his utmost resources without
lcmg able to satisfy all tao claims AGAINST hI"'
II b. estimated 10y persons who ,up" t'' ''N
me familiar with hs affairs that IT viii require "'
lcn.t 100000 moro e. pay his uuec,ured debts
some of his friends to Induce hs wife to relieve lht
embarrassment by dispensing of thc rrd estate
which hc conveyed to h,g iu ha yr porous dor".
A. is understood that y. B. Cwucu and ocn'tn
Clinton h. Fisk accompanied h'm 10 Ncahi'fhi
Yesterday afternoon with the oNrio.a p"rr"''
ofuune Mrs Hutchinson 10 tako this cour7" ih'
prospects a lAe success of tHt expedition ".i'
regarded ns doubtful In Wall street
The real estate consist, of the nous" No. West
liz ht. Air iu fl ID a VI
of over $500, 900, and the country place M S'l-
might which i, SAID 90 DE worth ahput 100000.
Roth houses stand in Mr.. Ilutchinson's maine and
are free from membranes. Enough could Toe i'-
allied from them undoubtedly 20 d,chaI-' the
husband, debts. and at the same time To a"'Id ah
adeouate income for the support of the family.
Ihecxtent Of his indebtedness is known, however,
only TO Mr. Hutchinson. for his present embaIrass
ment was a comp etc surprise 10 all his friends
TWO MILLIONS LOST IL TWO YEARS.
After paving John r. Duf; $5Co,00Oin in settlement
of all claims. MI Hutchinson was supposed to be
worth about two million dollars, In two years
apnarently he has lost his fortune in
stock SPECULATION he cost of maintaining us cljy
and country houses in proper style was extremely
large Some OF his most intimate friends nave
been surprised by recent developments. IN addi-
tion 10 his accounts with c. +. Iimpson A Co. and
George X Sistares Sons, 1t has been ascertaiued
that he kept standing accounts Win several olhrI
brokerage houses. The debts 20 them were made
known only bv the failure of the Wall Street Bank
md the runors which were started by it, because
each firm supposed that, aside from tho principal
accounts il was the only favored one. Recently
The rumors that Mr. Hutchinson had left the country
started comparison of notes, which resulted IN
the discovery that he bad been Spcculdtln- heavily
IN several Offices. Whether his Wiics property VIII
be sui1 cient 10 meet all his obligations is not Vet
certainly known, hut so far aS he HAS confessed
them To his friends II il supposed that handsome
Compctency Will still be left when his debts nave
been paid.
RESTORATION TO GEORGE *. sISTARES SONS.
The largest creditors. now thlt the bulk of the
debt to the bank has been discharged. are George
K Sistare's Sons. Nos. 10 and = Broad-st Ms
Hutchinson and the wife of the senior member OF
the firm are cousins and on account of this copnec
tion the firm allowed unusual accommodation 10
Mr.. Hutchinson. His account was never scIGt-
n.zed closely, and when he asked Ioiii
be- was not denied MP to the time of the bank
failure II ls well understood IN wall street that
Mr. Hutchinson owes the firm a large sum that Is
wholly unsecured.
culatcd IA one that Mr. Hutchinson took from a
loan made az the bank hy the firm large amount
of securities which hp converted 80 his personal use
This rumor aud other alleged pcCullattucs lu his
relut IONS with the bank are undo stood To Dee the
i.tlupuces used hy some ~ the directors iu cont
The value oi the securities SAID To have been taken
has been restored to SistHr"- sons. but the other
large indebtedness has not been pad.
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ASrSPIgION on HIDROTHOHf4.
IY TIIIoRArH TO fIE IHinrNfl