Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1884-08-28
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.sk.s,us9NS NJ 1kefugeiis
5ehsS NJ. Desiisiii It,,.lsalbs;s Ia
Ptale, DaHh Hsiwasl g,g Irxses.
xAS4 prs o. the Bal sCtosedhfi Cen.
'0KaE cu"' STOCK Gambling the Cause. 4.
I trema ALBION. N. Y. August y,
.ExJ's accot over the suspension OF the
.FirsE Vices asl Bank runs high, Cashier
Cod,;res litery hopeful, as to thu result
of very ac 'ation of the inner safe when
it Sopen. This safe should con.
taiS 80, ank's securities, but it is
SUI ,aDa,s President Warner has. not
lefSeiahu tact. Mr.. c, on says, how.
eveoverhor' any event the depositors
viii Buffalo fh full with. interest. There
lwferfect col5o, 900 on deposit July LIST.
lPter the grWarner : left on, .Ylthe
Ieydnflincbf the -, 18th. inst, - saying
he's tegrigoing to St. catharines,l aud
'the srNew York City. It lis believed
that, xIs still in, Canada. j, During 1.-The
past month he has transferred all his
properts, but it will be claimed that the
assignments are void for want of. actual
consideration. MIR. Warmer has lately
completed a fine roller rink, on which
there is a $4,000 mortgage in favor of n.
I'll. Warner, of Rochester. The deeds and
mortgages We're, - not placed on rec
ord until after his departure. War.
ner'ss wife and child are here and,
SO, lar as known,.4 not Il provided
for by him. His absence is generally
connected with his unsatisfactory man.
agement of the Burrows estate. Al
though Ave executors were appointed, it
became necessary that Warner, owing to
his business qualifications, should have
general charge OF affairs. The estate
was estimated at from eight to ten mil.
lions, and as no inventory. was ever flied
or complete records. made, it will be
some time before the result of Warmers
mahagement can be known, as most of
the bank stock IS held by the estate.
Lorenzo Burrows, President of the Uni
versity, an old and feeble man,
is one, of the executors, and lit
is no secret that he has long been dis
satisfied with the way in (which. Warner
was, administering affairs, but NO at
tempt, was made to bring Warner to
account until recently, when Burrows,
son of the deceased millionaire, through
w. r. Caikins, of Boston, VINO held his
power Of attorney obtained an order
from the court requiring h M to show
cause why he should not fill al inventoryl
Warner paid no attentlonto this, sana, an
order, was then issued requiring the I'M
ventory to be fled on the 18th As
Warner taised to appear Oh that day,
the Surrogate 4rrYoKed his authority IL
executor. and what HAD before be mind
suspicion became;a certainty. There rs
no doubt entertained by those who knew
Warmers habits, that he has sunk a great
deal of money in WaH street, 'Rumors
that'he had heavf Y overdrawr his -;ac.
count are pronounced unfouhded.' ;" The
bank has Always been considefe ii very
solid, and was a favorite5 depository, for,
farmers and laboring men, as we'll, as
business firms. Warner is a young man
OF fine appearances, and while, not having
numerous personal friends he w as lti5ked
upon as honorable and capable! IA "a boy
he was great faYorite. with theIdeceassd
banker, By rrows,, who rapidly promoted.
him, and finally made him oneIef, the ex,l
eGutors OF his immense estate, . position.
probably worth $40, 700 . year. He has,
as almost sole manager of the property,
engineered its affairs much to his own
nkfhg, the family apparently not caring
to offend him by demanding an account
of his stewardship a few months ago
young Burrows lay at the point Of death
at the 10 residence OF Mr., Car.
kins, Il at Boston, and 1t - was
during this p-riod that Mr.. Calkins
began the action to requirean accounting
from Warner. II 1t soon stranspiredlt that a
conspiracy had been made against Ca,hins
and his wife, who We're accused by War
ner and the relatives of Burrows with
systematic attempt to poison the Invalid
with arsenic. The matter was brought
before the Grand jury who found NO
bill. Young Burrows washrenoved by
his friends to q hotel and subsequently,
to his mothers home, in this, village, af-
ter having been Induced to revoke the
power Of attorney given to Calkins.
LATER.
The safe at Warmers. house was opened
yesterday afternoon, add in it were found
some papers which throw light ON his
transactions. 1t appears he has used all
that,was available Of the securities be.
longing to the Burrows esta tie for, his own.
benefit, The real estate he could not dis
of securities he has : made
away with is several hundred thousand
dollars, possibly half Il million. From
his 4 accounts, n it has been .diScov-
cred, that be has been gambling in stocks
ever since he assumed the mana9etnent
of the estate in 1879. He began imne-
diately to buy and sell stocks to an
amount, of several hundred thousand dol
lars monthly. The reat estate seems to
be all that Is left Of the property.s'3st =
OF the 500, 900 of capital stock of the
bank, upward, of 800, 200 belongs, to, the
Burrows estate, >, II looks. as if Warner,
has absolutely squandered all that he
could get hold of. not only that be ,ong-
in his hands by others who had confidence
in n 10 inf ri fis.