Savannah morning news. [volume] (Savannah) 1868-1887, 1884-05-20
MIR. sENEY ON SPECULATION

A Talk With the Former Millionaire on
His Embarrassment-H Has Made no
Assignment-His Residence on Brook
Ign Heights Sold to the METROPOLITAN
Bank-His Brooklyn Bank Closed.
Yssc York Sun.
The failure Of the Atlantic state Bahk
Of Brooklyn, Of which Mr.. George L. seney
is the chief owner, TO resume payment
causes some uneasiness, and is accepted
as an indication Of Mr.. Seney's inability
to afford it relief, and gives substance 10
the rumors that in settling the affairs
with the Metropolitan Bank Mr.. seney
emerges from that field Of gigantic
operations stripped Of much,
not all, Of his property. Yester-
day deeds were filed that TOOK
from Mr.. Seney his splendid Brooklyn y
residence, the former residence OF j. ;.
Rockwell. the millionaire leather mer-
chant, and also his former residence IN
Remsen street. 4 fatality pursues the
occupants of the Rockwell mansion. The
builder and first owner, Mr.. Rockwell,
found that the sanitary experiments enQed
in making il a vent to sewer gases, when
carried away his grandchild, and suisse
quently he died from the same cause.
his WIDOW ulEtI ldsL CdAs anu III AlNhN-
purchased the house, adding 10 1t a galIefy
for his numerous art treasures.
The deed which conveys this house to
the Metropolitan Bank and mentions
Sl75, 900 as consideration, was filed yes
terday. The house has a frontage of IS
feet on Montague terrace. and extends
along Montague street 2O9 feet. The
grounds are broken by beautiful terrace,
and there is a private staircase from the
or TO tho hridnG OTnF tho fTIn-
mel, which enabled Mr.. Seney on hot days
to enter his house without the fatigue OF
mounting all the steps.
Mr.. Seney has a fortune invested in
paintings, to which he is much attached.
These may be spared in the financial dis
aster, but their retention by him is doubt
full. He bought the Rockwell mansion on
June u, 1888.
A deed was also filed yesterday convey
ing Mr.. Seney's former home in Remsen
street. between Clinton and Henry, to the
new President Of the Metropolitan Bank,
Henry L. Jacques, for $4,000. The other
recent conyeyances of property with the
above show that Mr.. Seney has parted
with real estate valued in all at $3.50 900.
In settling up at the Metropolitan, the Sc
curities Of Mr.. Seney's various railroad
enterprises were marked down so much
that it has apparently taken nearly all of
his ill4f dAC AOl thAlC " GAb NuC BtAAAh III q
position TO resume.
Mr.. Seney is in robust health, and his
money-making power has been so great
that his friends believe he will ultimately
get upon his feet again and take rank as a
millionaire. He has little TO say even to
friends about the causes of the recent
trouble. His fortune has been so identi-
fed with railroad speculation that his fI-
ture as rich man depends largely upon
an increase in the value of railroad prop
critics. He has expressed no regret at the
large amounts which he has given away.
Methodist ministers whose enterprises
have fiourished from his gifts believe he is
so much Of a magician in finance that, in
the words Of thrifty proverb OF the high
landers of Caucasus, he could make
'scheese from a he goat"
Mr.. Seney said to a reporter Of the Sun
last night: ''The suspension of the Me
tropolitan Bank was certainly due in large
part to the attacks upon it and me which
have come from all quarters. Just at the
moment when money was the highest a
report was spread, and apparently be-
lieved, of my being interested largely in
gigantic and risky real estate specula-
tons in northern Alabama. There was
no truth in the report, for / have never
had a dollar in any such scheme, but it
was enough, nevertheless, to rob the bank
Of its heaviest depOsitOrs, at time when
it could least afford it.
$50 what extent" was asked, "dO you
attribute the failure of the bank to spec
ulatiOns in which you may have been en-
gaged?"
Il think Just this: A man who specu-
lates successfully is a~saInt, and every
one will swear by him. A man who spec
ulates and loses is a scOundrel, and If
people could think Of anything worse to
call him they'd do it. That is all l have
to say on that subject. Take this Ward
business, for example. / don't call that
specializing, but still let us suppose that
by some blind stroke of luck Ward had
made $40 100000. Where would be be
now? A keen and scrupulOus man Of
business and a rising financier. Oh, a
busted mans life is very gay oneV
''Tell him about the dynamite" sug-
gested a friend.
"Oh, yes" said Mr.. Seney. 81 almost
forgot that, in the midst of more exciting
things. Pm to be blown up with dyna-
mite. and so are my house and family. A
gentleman wrote me to-day a perfectly
serious letter, in which he said he had
just returned from the country, and would
soon be around with few friends to blow
me up. ! understood from the papers that
had gone sky high, but here's chap
that thinks it isn't high enough. Of
course, Eve no idea who it can be. 1t is
certainly no depositor in the bank, for
none Of the depositors is going to lose
nything."
Mr.. Seney absolutely denied the report
that he had made a general assignment
for the benefit Of his creditors, and said
he did not contemplate doing so.
II can say nothing" said he, "as to my
future movements. / am now a man liv-
ing day by day, and l can't say now what
| Will do tomorrow"
An intimate friend said that Mr.. Seney
was not thought to have any private for
tune, and that the question as to whether
or not he would be a totally ruined man
would depend altogether upon the action
taken by his friends and creditors.