New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-07
LOCAL MISCELLANY.
THE HEATH AND SMITH FAILURES.
rICHTING shy OF THE BROKEN FIRMS. v WHITES

cord IN either the Heath or Smith failure The sched-
ues are not likely to be filed before the ast OF 1me
week even if they can be completed by that tllhe'
The statement that Mr.. Gould and MT MoI0slhl were
preparing to bring a suit against CharieS r;
Woerishofer on JOINT account s oce Of "
Cannon & Co 1t was said that neither MT. Uould
nor MIR. Morosini had entertained such purpose
for moment. IL suit of the KIND was Drought IL
.Wai, Street still talked about tho affairs of the
broken firm. and with greater freedom ~ was
learned that in several large Stock Exchange
houses 1t lad been the standing rule Tor many
months not to have any dealings with Heath x 20;
that could not be closed INSTANTLY Ire partner Ui
one firm, who had charge of the loans returned
from a short summer vacation to hud that on VIC
day before the fra had loaned some STOCKS 10
William Heath &C. lie called the loan os snot mT
large house refused to have any dealings
with the broken firm, not from doaGts ~
made claims for something after the transaction ION
had been formally closed. The release when
Char es +. Woerishoffer obtained IRON ,e nr.' on
Inc joint account With heury n Smith was not rot
asked for until the account had been cioScu lor
some time. 1hen the firm pretended that The ac-
count had not been fully settled aud it is sad ,haf
the Stock Exchange, and threat"nsd 10 pIeiot
charges of obvious fraud against Mr.; Heath a
mt onIv on The condition that Mr.. Heath would
give him complete discharge from all liability on
the joint account Tie discharge was g frn ure
soGted to the Governing Committee OIL 'Ee EA-
change ,,, ,y.h orrostod far nor
inpv and. after an extended examination at the
Jefferson Market Police Court, Mr. Heath was
placed under $40 600 bonds to await the action 9i
the Grand Jury. Daniel Drew went on Ihe noEu,
bnt Gied before any action was taken. The matter
is said TO have been lost in tho
office and, at any rate was not GToagHt ~ VIII
IAN Heath & Co yesterday, Mr.. W bite said: know
nothing about it beyond what have seen IN Ine
public prints. As far as l can judge from WiaV
4 Mr.
self rs trustee for the payment OF the ieposIs VI
his solvent customers for the beneht OF the spetn
money of Mr. Morosini, Mr.. Low, Mr.. Gould and
his other solvent customers to protect he account
of Uenry n Smith to the same amount he apPar-
cntlv considered lis trust discharged and then
promptly announced his failure That's the pure
English of the Heath failure; ,.
An Injunction has Leen obtained from Justice
Donohue of the Supreme Court, by Mr.. M0roslnl III
an action begun against Heath ~ 20: ana thcIi
assignee AdamsOn K. McCaless, restraining them
and their representatives from making directly or
Indirectly any transfer or otherwise dlsposiny OF
the 2 $50 shares of Manhattan Railway STOCK 40 40
twenty-five second mortgage bonds OF tRRaScd by
pOitan Elevated Railroad Company
then. for his account.
,,o u,,,curoaS AMAZING OPINIONS.
-, TOM" GOULD'S DEN A FINE PLACE
"N ,u dRR WORKING PEOPLE TO SEEK RECREATION
Tho Senate Committee continued yesterday its
investigators into the peculiar NncbSos Hurh
ton was called. j. &. +. EccleSlne apPeareu as
counsel for Messrs. llaugLton aid Ml'cnei' |o'n-
missioner HaughtOn SAID
1 f,uro Of the board to revoke the licenses for the
places rnided by the police in January last i9r permit
Ting gambling was because there was rGS 10 stify
revokng licenses. With reference TO iIon o
ITS second application for license Captain Williams
reported unfavorabiy and License was reiuseu "a
violation OF Excise law had been preferred agansI
Crotty the charges were not sustained IN tue 10
OF Tom Gould's saloon in West Thrty.irstst' nau
signed the license the favorable report OF the Excise
Inspector AMI the recommendation OF senator upo
that Thomas Parker who applied lor nc acense, W.
reputable man. and he no reason Tor refusing Tue
application visited Ge1ids place ana o stM pnbe
men called on Ine and asked me 10 Ice t
s0qs and place AG and sheridan captain
Williams REPORTED that no part Of tne ptc0 last re-
port was that the place concert nah ana was Wis
ied Dy YOU think it right license
place that is the known resort of lewd women; >,u
Commissioner HaughtonIln great eity me G 1S%
nroper TO license concert saloons They are USED as
means of recreation hy the aOorns ny
ments They 20 - the concert saloons, drink peer ana
Witness dancing sparrng. and hear good instrumental
sud vocai nusic I can see improperly in licensing
such places i. city OF million ana alaIl oI nh I
tants even the proprieors could not keep away RON
their places all characters so long as they conducted
themselves properly
After recess many applcatiolsfor licenses against
which Mr. Morris made objections were submitted
10 Mr. Iaugton and he was asked whether MI.
Morris rad ever furnished any evidence other tLan
his written protest or his personal observations
do,nanded an estgaiion complained 10 1ne
societies whict have tho morals OF TINS city III
charge :" or asked the Board of EXciseto issue SUD-
pnnas for the police captains ana Others supposIu
10 have knowedgo Of the bad character OF me
places to appear before the Board 70 tSstiiy' MI
Hamilton replied with a., emphatic NO
Senator Coms,Cck-Do you know OF airy legal authority
g., me Hnard CT Excise to issue suDpDnas Tor witnesses
upon an application for licensed Ave nave uohe
MI Comstock-why in some cases were directions
given to issne Subpoena, upom M 1id not Thipk hi.
protests OF sufficient nnpOrtaucet Al did not In al
cases He never asked for tne snopGna ns a.king fo,
them Why did you issue them III some cses anu nov ~
he made specific charges
Senator Coinstock said tIat lie believed this point
TO be Of vital importance 10 the investigation anu
messed the eXaniEatlOn nntIi Mt Eccleslne ruSncu
to the assistance of his cllcrt with dVertihg
question.
HE CAN WIN AT ROULETTE EVERY TINE.
The following advertisement was published yes
terday:
sDorting Circles--wantrd, as Agent gentleman II
socetya mciber Of New York clubs aud well acquantc(
with sporting circles, 10 assist. ~ exploiting yaual
snorting idea there Is much money IN It for the rlet
man Adde'S. personally or hy letter, professor
lamont No 267 West Twenty ST.
ATEIB,,Sr reporter called ut the address giveI
and saw Professor Lamont. He is of slight Eguic
graceful i'll movement. wears skull cap has al
,nteilcctual- locking face and smile at al
tiraes lie came to New-Y0rk three days ago iron
Monte Carlo, the great gambling resort lie say
flat he is q professor of mathematics IN sch0o
thare and for wears has made study of tie game @
roi,lette. which is the favOrtc at Monte Carlo, ant
Iurns into the Golfers of tho owners of the Casino
where the gambling is done about l7.0O0OO'
francs n year lie has never gan bled and it wa
only his interest in science that led lin to inyestl
gate roulette lie has invented plan by which IN
Sooe can he beaten Systematically and surely. Ia
Is a philanthroplst ard desires to destroy gambling
and with this end in view lie has come to thi
country and is willing to allow a few gentlemen Z
form syndicate aud put up enough money to breal
lie bank at Monte Carlo, and divert the profit
fIom the usual channel into TIC pockets OF tho syn
li.atc He will take royalty Of 20 per cent OF th
capital invested for his services, and is willing Z
give up his secret as soon as tho money IS suO
scribed lie is not particular about the amount o
s.n;tal. anywhere from s. 900 TO 100000 viii
do Though a Freedman. his devotion to Americ
led him 10 bring his invention hc;e instead OF dlr