The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-06-21
GRAY AFTER FOREIGN CASH.
GOT SOME CONSTRUCTION COMPANY
BONDS 40 SELL ABROAD.
The Continental Railway People Declare
Tint ThcN lInun NnthIns. o Do with

Tho Continental Railway People Declare
That They Have Nothing 10 DO with
Him. Though Their Name IN Used.
William +. Gray. the forger whose effort to
get conservative investors" to swallow
S750,000 issue OF United States Land aud In
vestment Company trust certificates upon
the security OF $4,000 worth OF somebody's
tax titles TO wild lands in Pennsylvania was
exposed In THE SUN only ten days ago, has
bobbed UP again. The Continental Railway
Company. n corporation with an office in Tenn
ple Court and n scheme for great four-track
freight road from the seaboard straight across
the country to Chicago was surprised yes
terday afternoon to learn that construction
company had been formed to build It's road
and that an agent was about TO start for
England to float there an issue OF bonds OF this
construction company 1t is somewhat I'M
usual for q construction company to get SO far
along In its work without the knowledge OF
the owners OF the property that Is to be con-
structed. but there was an ample EXPLANATION
In this case when Investigation showed that
the name OF the agent who was going abroad
was Edgar Gray. That is William +. Gray's
new name
Lawyer Cozzens, counsel for the Continental
Railway Company said yesterday afternoon
that It was true at one time, a few weeks ago,
that his company had CONTEMPLATED an ar
ranGement with Gray for the floating in Eng
land OF certain securities. but that when The
Sun pointed out who Gray was negotiations
were broken of at once, and Gray has neither
been seen nor directly heard from at the Con-
tinenta office SINCE that time. Word had been
received indirectly, however, that Gray had
ssLd that since THE Sun had shown him up
there was no use OF his trying to do ANYTHING
moro in New York but that he was still all right
abroad, and wns going abroad on June "a to
raise some money, whether tho Continental
people had their bonds ready or not. The in
ference was that Il he coudn'tg get Continental
bonds to hoat he'd take something else.
There lie not n dollars worth OF Continental
Railway bonds In existence" Mr.. Co2zens SAYS.
d to bn any 9uS Instr or
tends to sell bonds Of this company or OF n
company organized to build our road is a rank
swindler. On two occasions we have con tenn |
plated the issue Of bonds. and have had the |
sheets printed. but none has ever been signed
been destroyed or are yet in our possession. |
No attempt is being made to float the securi- |
Is fraudulent. The funny thing about it is |
ance Of reputable people in getting UP his |
GonstTru r. company after such showing
Company, whose sf5O.oGG scheme Vent down
with GRAY when The sun turned tho. light on |
IT,. still retains the vitality which has sus- |
tanned 1t through series Of vicssitudes that |
would have swamped an ordinary corporation |
they called u statement in the matter of the |
false and malicious publications recently |
MAZE reeen tI upon this As9
reference to any of the matters contained in
recent publications rejecting upon the com:
pany. All 1t contained was restatement Of
the story OF its prospectus. the misleading
character Of which document has been amply
exposed. The statement concludes:
The directors desire say that they have served this
company w!thoG, any c9mpensation, They have
WIN nSo SGn sa
~ M an 's Hna dS n FSa %
due TO me public to state that az condition q !hS
ment
Tho use OF the word felt" instead Of feel"
in the last sentence. unless it is a clerical or
ror; is significant in view OF tho facts. printed
made. The statement is signed by Walter s.
Cowles Charles A. Fem. James G; WLetmore,
ton. 4 postscript states thai Gov. Prince Of
New Mexico did not sign on account OF his alb
sence from the CITY.
ment Of the directors that the company's debts
are paid is q Judgment for 81 444 against the
Obtained the Judgment for Ge9Tse w. ferEn-
ment company. upon which no interest had
been paid The bond was first presented ut
REUSED ~ Gray who said he was in scis s
charge Of the company,s finances, on the
h9t the G had been
tho company set w the defence that the bond
had been stolen ana never legally issued.
They made no attempt to sustain this
was rendered. A levy was made
on the safes ant, other furniture IN the com
PaGGys S Office. 1GufS "a, HSapoie0n TTaser Who
claimed personal ownership OF all the Office
and Sherifs jury sustained him.
Pending further attempts TO enforce the judg-
ment. tho company appealed. Yesterday Di-
rector Cowles who acts also as counsel for the
concern. wrote TO Lawyer ErlanEer asking for
n settlement.
There are only two things about IT," said
Mr.. Erlunaer. Either this company has
money to nay our bond or else its
public announcements nre fraudulent
We propose: to settle the matter ono way
Or tho other II We can't get our |
money wen put some more to It and secure tho
punishment of those responsible for the fraud.
The company Is a New Jersey CORPORATION, and
he laws OF that State are ample to cover such
n case. particularly as one Of the directors
ives in the state"