Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-05-23
THE BURSTED OIL BUBBLE.
MI. Gee. HI. Lewis still Remains Out oa
Sight.

THE BURSTED OIL BUBBLE.
MT. Geo. HI. Lewis SIN Remains Out oa
Sight.
TIE RESULT OF Mr. HURpoCK's MISSION 10 NEW YORK
TIKI LARGE IMAGINARY NsAcTIoSs IN OIL PAN
10 xArERIALnE-Bow THE PROFITS WERE MADE,
The disappearance, or rather. the possibility OF
the temperance Of Geo. ii. Lewis. the broker was
stu matter OF discussion to-day among gentle
men who since last Monday have spent much time
standing on the cuTbs In the neighborhood OF eth
and streets Lewis once was stin point OF in
terest 10 investors who stun have hope OF hearing
something favorable. The safe In Lewis once was
sealed by the deputy marshal to-day.
MI. w. c. Murdoch, who went 10 New York and
fhiiadelphia as the representative OF a number OF
missing broker, returned 10 the CITY last night
bringing back little news OF an encouraging char
actsr He said he found nothing there 10 Lewis
credit he got no trace OF Lewis either In New York
persons who knew Lewis 0e and s as 'G snaa
a perfect maniac. He was told that in Harrisburg
year ago Lewis went on on a spree and caused
Wnen he returned to his senses some said that
people accused him OF swindling them. Lewis
saio, let us see: let us look at the books" Upon
examining the books IL was shown that the very
men who cried fraud were men TO whom Lewis had
paid more money than he had received from them.
adviser and friend OF Lewis is a broker, through
whom Lewis occasionally operated on his own
Judgment. and that he had lost on some OF the
DEALS made through Harris He found also that
Lewis dealings In oil were much more limited than
was supposed He carried, II is estimated, a line
OF AOoU or 5000 barrels In New York and Phila-
deiphia-
Mr. MURDoCK's VIEW OF THE MATTER.
TO STAR reporter Mr.. Murdoch said this MORN
Ing: 81 was unable TO find out whether Lewis had
any bank account or not, or whether he had any
assets His brokers are waiting for him TO turn up:
Iney seem TO think that he has gone on on one OF
MS periodical sprees don't imagine that there is
much LETT Lewis seems 10 have pretty well cleared
OUT things before he left Know that he had
$4,000 TO his credit In the Second National short
TINE ago, and all this seems have been paid out
legltlmately: that is In profits"
WHERE THE PROFITS CANE FROM.
"Where do you suppose that these profits came
| FROM" asked the reporter
81 can't tell tnat," was the reply. ale left no
books to indicate how his business stood. Some
Times think that his business conducted as
Ferdinand Ward carried on his and then again
really think that there were profits I'm genuine in
VeStlnentS The circumstances surrounding this
case are SO peculiar, and dovetal together such
fashion, that II Will require Lewis himself TO
straighten them out. My connection with him was
simply as an attorney, and his affairs In my hands
are Incomplete and would not Indicate that Lewis
had any intention of leaving the city
w hat do you suppose is the total amount OF the
iiabilitieS?" continued the reporter.
ANY estimate OF mine" replied Mr. Murdoch
would simply be conjecture, but as nearly as 1
can ascertain his liabilities represented by the GER
tncateS In the hands OF customers are probably not
more than 100000. That seems to have been the
amount OF his business. and a very large proper
uoh OF thls In my opinion, does not represent the
original money invested, but only the imaginary
profits, 50 TO speak. For instance man investing
sioo draws his profits out until he has gotten back
main in the business Now, the certificate issued
TO him by Lewis stating that he has SO much money
invested may not represent single cent OF the
man money, out only his profits. II may be pos
sble that when these amounts are figured down TO
The actual cash invested that the total loss VIII not
Oe as great as has been supposed"
HOW THE ACCOUNTS WERE ADJUSTED.
SHOW do you imagine he was able to pay these
profits?" asked the reporter.
III think that he made some Investments in oil
His books show a record OF the purchase OF 10000
barrels OF OIL and again tDt he carrying $4,000
barrels He speculated largely IN stocks and In
options. and probably used the money deposited
with him In this direction. From the profits he
was able to pay profits TO the Oil investors But II
Is my opinion that the OIL business about balanced
Itself at the end OF each month"; and the amount
paid out TO one man in profits was paid I'm by an
other man, and SO the account was evened up. 1t
may he that the recent embarraSSments among the
brokers In New York affected Lewis and precipl-
tated the crash. But you must remember that all
This Is merely my opinion"
Col Burnside left New York last evening and
came as far as Philadelphia He expects to reach
thlS city this evening.
WHAT Is SAID AT WRIGHT a CO.'S
At the Office OF W. 7. J. Wright & Co, on 18th
ceiVed to-day. STAR reporter was informed that
II intended to send another detective this after
noon Ia search OF the levanting broker clerk In
the Office also stated that Mr.. Wright was arrang-
Ing with his lawyer TO make pro rata settlement
among his customers OF his assets, whatever they
prove TO be- Ii was thought there was money In
Phiiadelphia, but 1t was found that all the money
was drawn out last week, and couple OF hundred
dollars additional The firm was satisfied OF there
being money In New York. with which OIL had been
bought at 80 In IL is attached the oil Will have 10
DE sold at the present low figures number Of
customers. several OF whom were ladies' sat about
MT Wrghts office, talking over the situation and
anXlousy awaiting any Information They received
put little encouragement from an exchange OF
views, and the atmosphere OF the place had very
depressing effect
REPRESENTATIVE NnLIKEN DENIES
Representative Milliken denies the statement In
one of the morning papers that he lost money
through the disappearance OF Lewis, the Oil broker.
II Is understood, however, that other members
have been involved.
INDIGNANT AT MR. PrRMAN.
Many OF Lewis customers who have taken no
steps to recover their money, except to send an
agent to New York. express much Indignation at
MI Purman for his prompt action In attaching
Mr. Purman is involved TO the extent OF about
$4,000 ON his own account and on account of
friends who entrusted their money to him to invest
ana have his guarantees
SUITS AGAINST LEWIS
Yesterday afternoon Mr.. W. j. Purman, on whose
suit deputy marshal took charge OF Lewis Office
yesterday, began another suit against Lewis for
$500 The declaration states that the amount IS
due for goods had and received" Mr.. Purman 1t
Is stated, had such confidence In Lewis OIL specua-
tons that In many cases he induced persons To in
vest by guaranteeing them the return OF their prn-
cipal In return for half OF the profits To secure
himself against loss, by these guarantees II is said
he entered his last suit Mr.. Purman, as president
Of the National Ref1gerating and Construction
company, has issued a notice 20 the stockholders,
stating that the finances and operations OF the CON-
pany are not In the least affected by the disappear
ance OF Lewis.
Another suit was begun against Lewis yesterday
by Solicitor Chaplin Brown In behalf OF John Caleb
Morgan. In this case the declaration states that
on April ~ last Mr. Morgan entered into a contract
with Mr.. Lewis, by which the former In considera-
ton OF the sum OF $780, was to receive at the clos
Ing OF a certain petroleum syndicate, series b, No
&c. one full interest In the distribution of the in
vestment and share OF the profits. The money
was paid. the syndicate closed. and Mr. Morgan
claims s325 as his SHARE but cannot get the money
for the gold bird has flown. He also lost 1926 on
the petroleum syndicate, series c, No Ia, In the
same manner, making I'm all $3.50 that he is out.
writ OF attachment has been issued In this case
Also
WHAT Mr. PURNAN FOUND OUT.