The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-09-27
THE BRAAK GIVEN UP.
Charges of Appropriating Stock =
What the Parties Have to Say.

what the Parties Have to Say.
From the PHILADELPHIA Tines
The search for the sunken sloop-
praak. which is said to be at the bottom Of
the ocean, just outside the Delaware Break
water. has been abandoned.
The exploring party returned to this city
on the steamer Long Branch yesterday at
noon. The crew of the steamer was paid
off in the afternoon, and last night the
steamer was anchored in the Delaware off
Vine street wharf, in charge of a solitary
Waterman. The exploring party left the
Rreakwater on Thursday afternoon and
snent the night at Delaware City, on board
the steamer. They started for Philadel-
phia at 7:30 yesterday morning. Capt.
Charles A. Adams, of the United States
navy. who has been directing the work of
The divers for the past two months, was in
command.
The others on board were DR.. Seth Pan
coast of OF Arch street, the protector of
Q expedition; Chaplain Kane, of the
United States navy, the president of the
Braak syndic tie; A j. Kane, brother of
Chaplain Kane, a member of the syndicate;
George Schrelner, son OF John H.
Schreiner, another of the stockholders; Mr..
Pike, chief of the divers, together with the
wives of Capt. Adams, DR.. Pencoast and
Pike There we're also ON board Charles f.
Pedrick of Phonixvilie, q diver; Pilot
GRAY, the chief engineer and his assistant
tie steward, cook, quarterInaster, two fire.
men, two deck hands and a colored cabin
boy.
ABANDONING THE SEARCH.
The search for the treasure was aban-
doned on Thursday morning when Capt
Adams asked DIR. Pancoast for money to
buy coal for the steamer. DR.. Pancoast re-
Piled that he had no money to give him /;
that he had expended all the money the
syndicate had furnished and had paid out
money out of his own pocket, and wasn't
going to pay out any more; that he was
going to Philadelphia at once and was going
TO abandon the search. because he had made
demand on the syndicate for $4,000 more
TO prosecute the search, but didn't believe
they would give him the money. Capt.
Adams refused then TO stay at the Break
water any longer, and the anchor was
weighed and the steamer started for Phila-
delphia.
Mr.. Pike, chief Of the divers, told Chap
lain Kane and his brother that DR.. Pancoast
had sufficient money left, which was fur
nished by the syndicate, to keep up the
search until Nov. l. When Chaplain Kane
and his brother got to shore, they imme-
diately went to different members of the
syndicate and told them what Mr.. Pike had
said There was an informal consultation
held. and it was decided to hold a meeting
TO investigate the expenditure of money by
Dr.. Pancoast.
THOUSANDS OF DOLLARS SUNK.
DR.. Pancoast admitted last night to a
Times reporter that the syndicate furnished
him on July q with $500, and on July 81
they paid Dobbins Bros, ship-builders of
Camden. $500 for fitting up the steamer
Long Branch for the expedition which
sailed on that day.
Chaplain Kane and his brother, Mr..
Pike and Diver Pedrick all claim that DR..
Pancoast didn't expend $500 in the main
tenance of the expedition since July 81 On
the other hand, DR.. Pancoast says he not only
spent the s., 600, but 5000 besides out of his
own pocket Driver Pedrick says that the
expenses were not 500 month, not includ
ing coal or maintenance. Everybody on
board wonders what became of the money.
Lawyers William +. Murphy and Ormond
Rambo, of 719 Walnut street, both mem
hers of the syndicate, called on DR.. Pan
coast a few day S ago and demanded an &C.
counting of the expenditures of the expedi-
ton. DR.. Pancoast refused to furnish them
with any statement at all. He said that he
didn't have to make any statement; that
the money was given to him to expend, and
that he had spentit on the expedition. The
lawyers left in disgust.
DIR. PANCoAsT CALLED LIAR
A few days later Chaplain Kane says he
called at DR.. Pancoast's house with his
brother, and DR.. Pancoast accused him of
selling certificates of stock without account
ing for them. Chaplain Kane got up and
shook his fist IN DR.. Pancoast'S face and
called the doctor liar. The doctor said to
the chaplain;
''If you don't behave yourself 1 will have
you put out"
Chaplain Kane replied: "You can't do it,"
and produced the certificates that DR.. Pan
coast had charged him with selling. DR..
Pancoast wanted him to give them up, but
the chaplain refused and he and his brother
left.
The contract under which the certificates
were issued expires Dec. 81. The contract
is made between the International Submar-
inc Company, of New Haven, with head
quarters at Philadelphia, and DR.. Pancoast,
the government being third party to the
contract and to receive 10 per cent of any
treasure found.
A. J. Kane claims that DR.. Pancoast has
sold out the syndicate to the Merritt Wreck
ing Company, Of New York. DR.. Pancoast
denies this