The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-21
S2,OOO.OOo MISSING.
The Mysterious Life Of the Son Of One of
the Revolutionary Heroes.

Boston Special
James Henry Paine grandson Of Robert Treat
Paine. signer Of the Declaration of Independence,
died recently in New York city in squalor and
abject wretchadness, although he is supposed to
have been worth nearly 90 000 He was born
in Boston, in 1872, and about 1929 became finan-
cial writer and musical critic on the Boston Post
When he was twenty one he succeeded TO large
money at high interest. His illegitimate use OF
his newspaper to manipulate his stocks led to
his discharge. His personal habits became dis
gushing and his greed for money increased.
In 1856 Thomas j. Lobden, a broker, died sud
denly, owing Paine $560 00 Paine sold securi-
ties at forced sale, bid them in himself at a
low figure and pocketed the proceeds in his loan.
Public indignation was so Intense that Payne
was driven out of Boston.
He packed all his possessions into an old hair
trunk and fed to New York. His brother, Rob-
ert Treat Paine, whose will is now being con-
tested. said that James had $500, 900 in that old
trunk In New York he lived wretchedly. He
took with him securities belonging to one
Wilton. WhitOn's executor, Laban S. Beecher,
found Paine looking like beggar. He was
locked up in the Tombs where ne promised to
disgorge the stolen stock. Beecher went with
avenue, where. from big pile Of bonds. Paine
counted out for BeecAer fifty-six one thousand
dollar bonds without perceptibly diminishing
their number.
After this Paine grew daily more ragged and
filthy, and was finally sent to the island as va
grant Acquaintances got him out. and his
brother, Robert Treat Paine. paid the bill. Sub
sequently, Paine hired q room on Canal street,
to which no one was ever admitted. He was fire.
quently seen in the street begging for pennies.
After his miserable DEATH $500 were found con-
cealed in his rags His brother said before his
death that James Henry WAS worth 81, 600, 900.
The mystery of the disappearance of all his
wealth will be investigated.
About eighteen years ago John L. Drummond,
broker. then chief clerk with the banking
house of Body, Mcclellan e. CO., noticed on sew
eral visits to Dnewall's restaurant. No. 832
Broadway, New York, that Mr.. Paine was al
ways there. Mr.. Drummond made inquiries
about him, and then told story that set the
actors and artists by the ears. He said that q
year or two before. Mr.. Paine one day visited
the Office Of Body, Mcclellan g. Go. when one Of
the clerks was about to show him the door. think
ing him begger. Mr. Body came out of his
and invited him within. There were
several long conferences on that and
ensuing days, eliminating. as Mr.. Drum
mond remembered. in directions to himself from
the head of the Arm to draw a check to MIR.
Paine for 1924, 900. Mr.. Payne took the check
to a bank, got cash for it, and trudged off with
the cash in paper bundle, which he Rugged to
bis breast under his overcoat. At the relation
OF this incident Mr. Paine was known at Ding
wallis as the millionaire Tramp Besides being
q fine musical critic, Mr.. Paine was considered
an expert on real estate stocks and billiards.
Among his most immediate associates. the one
absorbing question Is, did he leave 81. 000 900 or
$1,000 600 in hard cash, only $40, and IL he
left the million, where is it7