The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1888-12-13
HOW THE BONDS WERE TAKEN.
MRS. Preble's Son Tells Of the Loss
OF His Mothers Fortune.
His Transactions in the office OF the
Boston Brokers.
Gen. Butler on Hand Decked with
the Familiar Bouquet.

BosToN, Dec. 12.-J ustice Colt, Gen. But
Ter, the Prebles, mother and son, Counsel
Southland and Hoar, and crowd Of auditors
were on hand this morning in the United
States Circuit Court when the case Of Preble
VS.. Bates was resumed.
Mrs. Preble sat intently reading the news
paper reports Of the case, her son Edward
sitting near by as closely listening to the ev-
idenee. Gen. Butler. deeked with the famil-
lar button-hole bouquet, was in fighting trim
and opened fire as soon as the judge took his
seat.
Yesterday the deposition Of Edward Preble
the plaintiffs son, was introduced as follows:
Il am SO years old. My mother instructed
me to come to Boston to look after the prop
erty. In accordance with her instructions /
received the property from the executors Of
Mr.. Richardson, and deposited 1t In the I'm
ion Safe Deposit Vaults. Prior to my de-
parture for California, | asked Mr. Valley
to take charge Of the property for me. We
went to the vaults, counted over the bonds,
he gave me a receipt and gave him one, and
he received the property into his charge. For
some time before that had been in his Office
nearly every day. Afterward, on my return,
we examined the property and then ex-
changed receipts. The first bond taken out
Of mothers box was either Minneapolis or
Chicago bond. There was $1,000 bond tax
en- nrst. had been Speculating through the
advice OF Mr.. Valley, and had lost every
thing l had. They told me was in debt,
and MIR. VALLEY suggested: "Why don't you
go into the New York market? All you have
TO do Is TO get one Of those Minneapolis
DOnds put II up as margin; you won't have
to sell 1t. brought the bond TO him and he
took 1t and said he would use 1t as margin.
10 was put up by him on 10 per cent mar
gin. never saw the bond again. My moth
er knew nothing OF the transaction. took
out all the other bonds in the box The
Grand Prize shares were purchased at the
suggestion Of Mr.. Valley. costing $40 a
share. l cannot recall the number and char
acter Of my transactions-they were large
l rarely kept memoranda, My mother gave
me power OF attorney in 1879, for the pur-
pose Of certain transfers and exchanges"
Today Mr.. Preble was on the stand, be-
ginning his evidence from the time Of the
abstraction Of bonds from his mothers box
Asked by the General as to the Provident
Savings Bank transaction and the withdraw
al OF the money there deposited, witness
said: MY mother told me she had some
money on deposit there. She gave me an or.
der, and | drew the money out Valley
went with me and identified me. The money
was drawn out to purchase 10 shares Of Old
Colony stock. Valley suggested that the
certificates should be made out In my name.
He said 1t would be more convenient.
gave the certificate 10 Valley, but 1 don't
know whether he purchased the Old Colony
stock"
Gen. Butler-Did you tell your mother Of
this transaction, and that the certificate was
in your name?
Witness-It's my impression that did not
tell her, and that she understood that the
certificate was In her name.
General Butler-In plain words, she
thought she possessed this property, but did
not
Witness That's so.
Counsel Hoar now began Edward Preble's
erOss-examinatlon. In reply 20 Questions,
witness said he commenced speeulating In
stocks Ia 1877, before he went 20 Europe. He
did his business In the Office Of Bates Il Wal
ley. He first traded in Consolidated Vir-
ginia and Grand Prize mining stock. He
paid cash for what he bought. He used his
own property.
The only property he had was $500 In
Maine per cents. The bonds were kept In
the same box as his mothers property. The
envelopes IN which his stock was kept had
the words on them, THE property Of Ed
| ward Preble, guardian Sarah A. Preble." i"
| He had no business when he came Of age
| He was taking care Of his mother. Later he
| was employed In shipping office. After
| the crash came, and all his mothers proper
| ty was gone, he tried TO do most everything
| lOI u HNiuB. he udU Dceu CLERK, a can
yasser for books and electric clocks, writer
for magazines and newspapers and for about
year and half he had been In Mr.. South
ards office.
In reply TO Counsel Hoar witness said he
ceased TO return the key Of the security box
to his mother some time in TO-" Up TO that
time he had never had absolute possession
OF the key, but had returned II to his moth
er after cutting off the coupons. He only
had the key Of the box when his mother gave
10 I'm IL k.s.sN III A.
der In which the stocks and bonds Of his
mother were abstracted by him. He Occa-
Si0nally got accounts from Bates " VALLEY
Of his stock transactions with them.
Counsel HOar then endeavOred tO get from
| witness Just what was said by Valley at the
time Of witness's first abstraction Of his
| mothers bonds.
Witness was not quite clear as 10 what
| took place, but finally said that Valley told
him that he was in debt to the firm. and sug-
gested that he begin specializing In the New
York market. Witness told Valley that he
had no money. Then Valley said: "All
you've got TO do Is to use those bonds In the
| box and speculate on margin" Witness was
living on Beacon street at that time.
Counsel HOar-Were you In good financial
standing among your aequaintanees In the
/ fall of 1879?
Counsel Southard-I object.
| >, The eourt-What Is your purpose, Mr..
| HOar?
i 0NhAtbA AAOdA Wduk W 5uOW Luht MI
| Preble did not resort to the ordinary means
Of raising money, but that he at once began
| stealing his mothers securities. / maintain
that he made no proper effort to raise
/ money.
| Counsel Southard-Your honor. we are
trying Mrs. Preble's case, not Mr.. Prebe's
/ financial condition.
| Counsel Hoar-I claim the right TO exam.
| Inc into witnesses financial condition The
intimatioI OF the counsel on the other side Is
that Preble stole his mothers property al
| the instigation Of one of the defendants, and
| IL Is important to know whether his state
ment Is true. Is ii not fact, Mr. Preble,
lhOlding up check of $1,000, that you used
the proceeds Of these stock speculatiOns Il
support yourself and your mother In an ex
pensiye style Of living?
Counsel Southard = object 90 that sug
gestion OF Mr.. Hoar's We have no evidence
that Mrs. Preble was living extravigantly.
Witness-I am not sure what / did with
the money. | used some Of IL and some was
paid to my mother.
AT this point the court took a recess.
4