The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-06-12

Win the SIX hundred and ODD thousand uOl-
lars that presumably would be left for tho
Investment company after the Holland Trust
Company had takon out its share OF the, pool.
TO press the suits against the MercSntile Trust
Company. and get possession Of the controlling
now held in his name by the trust company
Then he would go out TO California and bring
some more suits to got possession OF thu water
rights which the nume company once claimed,
but which the San Luis Roy Water Company is
in sSs e Of the Dns s to Jus"
tho water rights seemed vague. but he said
that he understood that water rights out
company which grabbed them first had them
and could put mortgage on that would hold.
It'll be o. big hight no SAID, a regular
stSnd-up, and knock-down affair; but like
away from tho trust company and tho fumo
company property away from the water com
pany., what money there was left. he said,
would be devoted to the development OF the
Mr., Frazer also had talo to toll about the
fifty Investment company bonds that Banker
Lewis j. Tewksbury advertised for sale at 90
cents on the dollar, 80,
Tewksbury got those bonds from customer
to whom he paid a small amount IN cash and
the baianSe .O Then he declared that the bonds
were no good and told his customer that there
was no balance; or something like that The he
value Of the bonds and, that's why Tewksbpry
advertised them, for fifty cents on the dollar
guarantee US against tho customers suit he
wouldn't take It, and that ended the matter so
AS to Mr.. Gray. Mr.. Frazer admitted frankly
the facts rs printed in THE SuN as to that gem
tenans past career S and alleged aaat wnh t
the company he has no interest In 1t now. All
of MIR. Grays interest. he said. had been bought
between himself and the unfeeling i!nanciers
and too conservative investors OF Now York:
who would never give man chance to get
up again once no got down.
For the benefit hn OF Tnb IN Investors
Of the per cent. certificates at 97., in spite OF
as to them. It may be, We j to state here that
prospectus as the President OF the Investment
company, is not connected with that institp-
boating around New York doing noting. and
m more p thSn He draW o
pleasant G0sshe s in el5cIat9H "a, as bo to The
Nicaragua since last October rs the manager
Of q steamboat ,company connected with tho
company EXCUSES its, keeping his name in as
President by sayinG that he holds over until II
Office dE Of the ContinentaI Hallway Company my
yesterday that Gen. George T. lurrington.who
tus as the Vice President Of tho Continental
Company. had not been connected with 1t for
four years past and nothing was now known
Gordon Frazer, NJ. D.. another OF the direc-
tors. is 9, cousin Of Young Napoleon Rudolph
gordon Frazer Of Frazer 4 Co.,
Walter :. Cowes. the Vice President OF tho
company, could not be found at his office yes
leo. James G. Wetmoe the rSmann e" dree
tor named In the prospectus was disposed yes
sSrday to be be much hurt Hf SUTs
company was perfectly legitimate affair, and
especially that none Of tho directors or other
company had been unfortunate he admitted.
but its securities were perfectly good As for
had made slip, but the Court OF Appeals had
reversed the verdict against him. and there
nized now, as an honest and reputable citizen.
Anyhow. he said. MIR. Gray WAS only q clerk
and not the manager ma OF the company ,, NY
Wetmore is to protect Mr.. Prince. who has
tt n his money in 1t and cannot AFFORD to
The other Officers named in the pgEofsYpectus
clerk at the company's ofiico. and Mr.. Church
sends to The Sun a letter, in which he says;
issue Of today b, an article HEADED
having reHof,ed fsvoraoly on scheme SnoSn as tho
IS H Rss n%%f G a 81
Xxx enor Su nos to so peoe
In your article on The contrary. as tho personI g
part Of the formally forbade them to USE
fufer wan shS. am informed that the per.
sons mentioned have no interest whatever in the san
seeGrt ss Of that 10 authority 'nu any
Frazer 4 Co. when they started out in the
banking business, sent around circulars Ito
banks, bankers. insurance companies. State
and municipal officers investors and others"
in which they included in a schedule Of their
lines OF business the following:
Organizing stock companies TO buy established bus
ineSses or properties OF all kinds
Promoting now enterprises and raising capital for
Rame by sale OF companies bonds or shares either hero
or In Europe
and negotiating their bonds and stock, either In New
York or London.
At the foot OF their circular they name as
correspondents: " London. the Union Bank: |
Paris. HottinRuer 4 Gle. Amsterdam. Hope 4 |
Co: Berlin. Bleichroder & Co."
These houses are among tho strongest for |
eign banking Institutions. The fact that their |
names should be connected with concern |
like Frazer & Co might excite surprise but for |
the remarkable talent that Mr. Frazer has |
shown In achieving other things equally sur |
prising. The genius that can evolve $2,750.0O0 |
OF securities from an original Investment OF |
$4,000 IN tax titles and a water right that |
somebody else owns. would never be daunted |
BY such little thing as writing great names |
into n prospectus.
The attempt to float tho now Investment |
company certificates by public subscription
is not tho first effort to got cash for them. |
They have been hawked about at private sale. |
A man to whom some were offered said last |
night that he was told that S2i was the best |
bid that could be got on them in that way
Tho subscription books for the certificates |
will be opened this morning at the office Of tho |
American Loan and Trust Company
"TO WHOM IT MAY CONCERN."