Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1889-03-03
IVES And STAYNER.
WOODRUFF MAKES 4 CLEAN BREAST
His Startling Statements of Their Great
RaScahteS.
ROBBERY OF MINERAL RANGE.
Four More Indictments Found Against the
EnancierS.

NEW YORK, March 2.-The indictments
to which Henry S. Ives and George H.
S.ayner will have to answer are or the in
crease daily. -Four more were found yes
terday by the Grand Jury, and will be
filed to-day. Two Of them charg. grand
larceny in the first degree, aud the other
two call the fnanciers to account for a
fraudulent issue of the stock of the Cincin-
natl, Hamilton end Dayton railroad. This
makes total SO far of eight indictments,
and both the prosecuting counsel and the
District Attorney are confident that ON
some of them, il not all, conviction will
be secured. Should all the indictments
be successful the Young Napoleon" and
his friend would be liable to sentences
eggregating sixty-two years in State prison.
The trial promises to be one of the most
sensational in New York for years. The
revelations as 70 the methods of the finan-
ciers and the gullibility Of their dupes
promise TO be OF the most startling nature.
Assistant District Attorney Parker, who
has been engaged since Wednesday morn
ing in taking the confession of Woodruff,
the firms confidential clerk, was again
closeted with him most OF the day yester-
day. Woodruf's story is most vOlumi-
nous, and MI. Parker said it would be
several days before it could all be commit
ed to writing. The nature of his testi-
meny Mr.. Parker ofcourse declined to re-
veal, but he told very clearly what he
thought of it.
"His statements" he said, "when pub
lished will cause big sensation. Not
bali Of the fnancier's achievements hiss yet
been told. There aIe persOns involved in
them whose names have never even been
thought of or mentioned Ia connection
with Ives and Stsyner, and the puDlica-
ton Of WOOdrutf's testimony will not be
pleasant reading for them. His confession
Is even NOSE remarkable than that of
Bedetl. 1t will show with what ease
questionable schemes can be foated on
Wall street. Ives and Stayner," " Contin.
ued Mr.. Parker, "played q moat reckless
game. bat their enormous stock of audsci-
ty enabled them 10 carry to a successful
issue schemes that would make the veter-
ans of the street turn pale. Like the
Doodle trials, these CASES will depend to
some extent on the testimony Of en- accom-
plice, but his testimony eau be amply cor
roborated."
For brazsn faced audacily Ives cOnnec-
ton with the Mineral Range road in
Michigan carries the palm over all his
other achievements. 1t would have been
not very promising field to most people
only listle twenty mile road running
through the Michigan copper and iron
regiOns-but Ives found it a big enough
chance for him, and within little more
than a year he and his cOnfederates man
aged to squeezs SS3S. 36i cut Of it. Ives
became interested ia the road early il
1885. When the annual meeting for the
election of directors was held, in
July of that year, Ives appeared
as the representative of the ma
iority of the shares and controlled the
vote He did so very successfully, for OF
the eleven directors eight were dummies,
while the others were Ives q StaTner and
Henry S. Gillig of American Exchange
fame. Stsyner was made president, Ivee
treasurer. and Gillig shortly afterward
went to Europe. The pair had the road in
their own hands. Then followed whole
sale Issue of fraudulent stock, the sppro-
priation Of all that The read had end
good deal that it hadn't, with the result
that nothing remains to the Once success
ful road to-day, but worthless credit on
the books of ives & Co. and hopeless
bank ruptcy.
It is said that WOodruf7s confessions Sc
riously implicste Partner Doremus, nos-
withstauding the professions Of innocence
made by him to the District Attorney
few days ago.
Frank R. Lawrence, the counsel jor the
Cincinnati, Hamilton and Dayton road,
believes that tie prisoners could be con-
victed without the aid Of WoOdruf's testi-
mony. Mr.. Lawrence repeated yesterday
his assertion that Ives & S tayner have
within his knowledge large sums of money
laid away. He knows both where it Is
and in what form it is, bat he of course
decliues to make the particulars public.
He is confident, moreover, that the money
can Se recovered for the benefit Of the vic
timized stockholders.