The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1890-03-15
WHERE HAS he CONE?
Mr. Charles B. Strout Suddenly
Leaves the City.
a Hearing On His Insolvency Called
for Monday.

LII was stated the other day that Mr..
Charles B. Strout had been petitioned into
insolvency and that the hearing would take
place next Monday morning before Judge
feaooay in the Insolvent Court. AS Mr.
otrout Went out of town about week ago
MS friends are fearful that he did so under
temporary alteration of mind resulting from
dwelling on his financial misfortunes.
reporters for the PRESS made inquiries
OF those supposed to be best informed in re-
gard to Mr.. Strout's affairs, since this fact
OF MI Strouts departure had become known.
and there were many who thought it str ange
that Mr.. Strout should have gone away in
the face of the hearing in insolvency. Mr..
Forrest e. Libby, Mr.. Strout's confidential
clerk and book-keeper, stated that he had no
doubt Mr.. Strouts departure was due to de-
preston caused by his financial troubles
lie was high minded, proud spirited man,
and he had induced friends to go into
patents in which he was interested, such as
the Sewall Car Heating Co., Lidback & Co.,
and Railway Gate Company. Mr.. Strout was
also interested in the Maurice, Baker & Co..
perfumery, and Great American Specific.
The affairs of these companies became COM
plicated and Mr.. Strout sacrificed his own
interests, in many cases, to try and protect
his friends who were stockholders with him
In these organizations. His books were all
| correct. Last June when the Sewall Car
| Heating Co. was consolidated with the New
York company committee of three consist
ing OF Messrs. John y. Rice, Scott ellison
and himself (Mr. Libby went through the
books and found only one error, which
amounted to something over 5000, which
was matter belonging to Mr.. Strout and
which he had paid out of his own pocket.
Still later committee composed of Messrs.
Cullen Chapman, Themes and Libby made a
like examinations of his accounts with like
results. According to Mr.. Libby this
trouble, that led to the petitioning of Mr..
Streut into insolvency, was caused by 500
note OF the Gate company, of which Mr..
Strout was treasurer, which was endorsed
by Messrs. M. G. Palmer and Strout and
given to the Portland Company. When due
Mr.. Strout COUNT meet 1t and he told Mr..
| Palmer that he must take care of it, A dis
cussion ensued and resulted in Mr.. Palmer's
petitioning Mr.. Strout int insolvency. This
state of affairs was more than Mr.. Stront, in
Mr.. Libby's opinion, could bear and he went
away. Mr.. Libby was askedlif he thought
Mr.. Strout would be present at the hearing
Monday and he said he didn't think he
would.
Mr.. 81. G. Briggs said that he didn't be-
lieve that any financial irregularity was the
cause Of Mr. Strout's departure and there
was no one who could say it was.
Mr.. Moses &. Palmer said the principal
cause of Mr.. Strout's failure was probably
the Grocers and Gamers Gazette periodical
published in Boston. in which he put about
$4,000 all of which are lost. He had a
claim on the Lidback Company of about ST.
600, which he sold out to Mr. Horatio Hight
but which will be contested in the insolvency
court. He made good thing out of the
Sewall Car Heating Co. which he placed
among his friends and pledged at $40 share
promising to redeem the shares at the end OF
a certain time for $40 per share.
In regard to the American Specific Mr..
Palmer said Mr.. Strout had so much other
business he could not attend to it and that
Mr. Strout told him that he made a good
trade when he sold it.
Mr.. Palmer said that Mrs, Strout told him
her husband had gone away and wonld hever
be seen III this city again. As far as he could
learn there was nothing In Mr.. Strout's
books which raised any suspicion of fraud.
| Mr.. Strout is said by other gentlemen to
have lived so long clerkly life,-he was
deputy surveyor of this port for many years
| that he was like child in business affairs
when he went into the different corporations
with which he was connected after he left
the custom house. One gentleman said he
sold the American Specific for $4,000 to 9
Kennebunk gentleman who is drawing
very handsome income from its manufac
ture and sale. His Maurice, Baker & Co
perfumery rights he sold to F. A. Smith &
Co., who are doing exceedingly we'll with it
The whole affair is very unfortunate and i
is hoped that Mr.. Strout will soon be heard
from and the mystery of his disappearance
| explained.