New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-07-14
TO SUE C. II. SCRIEFFELIN.
MRS. wALDos CHARGES AGAINST HIM.
SHE SAYS THAT SHE GAVE HIM MONEY TO IN.
VEST IN STOCKS AND He INCORPORATED
THE MAINTAINS THAT TT WAS
LOST IN SPECULATION

LOST IN SPECULATION.
Social circles at the fashionable summer resorts viii
ma much material for interesting talk in story that
has come to light regarding the relations between
Charles II. schefein and Mrs. Gertrude Rhlnelander
Waldo. who are both members Of old and prominent
NewYork families. Mrs. Waldo is about 70 bring
suit against Mr.. schiefenn for the recovery Of a sum
Of money, the aggregate OF a number small amounts
that were advanced at different times by her to him
with the understanding that he TO invest them In
railroad stocks in her name When Mrs. Waldo
pressed for asettlement of her account there
stocks funds forthcoming
Mr.. scheffe1n declared that the sums advanced 70
him by Mrs. Waldo had all disappeared through IN
fortunate specuations. lie made an effort 20 pay
the msne5 back, but has far only returned small
amount. lie has now taken the stand that the money
leglhmstely lost in Mrs waldo's speculaons, and
that he is not liable for IT, 1t is consequence Of
this that Mrs. Waldo is preparing TO bring suit against
him through her counsel. John W. Golf. Mrs. Waldo
when IN town lives al seventy-second-s and Mad
isOn-ave. She spends a great deal of her time in
Europe. She IS a member Of the old Rhinelander
family, and has always been regarded as leader in
society. Charles II. Schieelln is q member Of an old
and influential family. He belongs 10 some of the
leading clubs but spends most Of his time at the
Union Club.
Mrs. Waldo makes the following statement In re-
gard to her relations with Schleneln:
II was acNuhlllte1 Win DIT. SCuh1ueul Nne0 i WIS
young but after he got married lost sight Of him for
seven eight years In 1855 lie came TO and asked
TO have our acquaintance renewed. He had been I'M
fortunate In his marital relations, had been divorced
and had several children his hands He asked for
money 10 pay his chldren's board, and lent IL TO him.
shortly after this he advised TO invest some OF my
money In stocks. lie represented 10 that he was
acquainted with some of tile largest and most sue
cesful stock operators and could invest my money to
7 udd vi mn huginnSG
method in the management of my property and
finally yielded TO his solicitations and gave him 81 0oo
telling him 20 invest 1t in Erie in my That was
on November H. 1855. Nothing was said about
margins ! merely tod him 10 buy much as
he could with the 1900. lie reported that he
had mado the purchase, and said that the invest
mcnt was a fortunate one, as Erie stock was rising
He asked for more money, but told him lrst
wanted him 70 deliver TO me the stock that he
had bought. He promised to bring ii TO me when he
made another purchase. Then I gave him $4,000
more TO invest stipuating that he should buy Erie
and have II registered IN my name. He thought 1t
would be better to buy Pacific Mail, and allowed him
70 do so. The next time him asked for my
papers, but he he had unfortunately got my
accounts mixed up wit his He said be had
bought some OF the stock In his own name and II the
name Of his cousin George lie had done % because
lie thought it looked badly for 10 be dah5hng
in stocks too much lie asked me then for more
money. saying that the market vas fine one.
i told him he should receive no more until he had
the stock transferred to my name and brought me the
papers, After some further talk upon business mat
urs I told him that / fld Just received check for
1860 90, which intended dcposting with my banker
lie wanted me 10 let lin deposit st, but afterward he
advised me 70 Jet him invest IL in stocks. To this
finally consented, and l drew up another check for
1880 OF to make an even 81 900 for him TO invest.
Afterward / changed ny mind. l indorsed the
larger check for him TO deposit and thought
he tore UP the smaller I was mistaken,
however for I found out aftcrward that
he had drawn the money both checks. After few
weeks he sed he had made profit for me of 500 on
the stocks he had bought. lie wanted more money.
He looked reproachfuly at nc when asked Lam for
my papers and seemed 70 feel badly over my lack Of
confidence in him. on December gave hin $4,000
more 20 invest IL Erie. Before he went proposed
that he should invest 10 In some other stOck lie
demonstrated and we had discussion, during which
declared that had doubts Of his trustworthiness.
wiped out. He declared that there was not cent
left and that there no use in explaining matters
further" .., :.
Next day Mrs Waldo consulted her attorney and he
communicated with Mr. SchieiIen. The latter replied
that he would give Mrs. Waldo 500 IN cash and
make over life Insurance policy as security Tor the
Lrlance Of the amount THIS refused. and now
Mrs Waldo intends u ask Judgment for el2'-!4
Schieffeln admits having received the money, bul
asserts that he invested according 20 Mrs Wald0s
directions and that the investment turned out IN