New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-10-27
UaCVE1GH md THE OTTAWA BONDS.

MaCVEAGH md THE OTTAWA BONDS.
While the rumor was in circulation tina.
Judge Gresham intended to support Mr. Clevc-
land. Mr.. Waync MacNcagh embraced the OPP
portunity to connect himself with Judge Grosh
am. lie was good enough to say, in effect, that
he thought very well Of the Judge. and WAS
gratiiied TO find himself in such company. He
wisely forborc to add how this alleged aSSocia-
ton might strike Judge Gresham, but there
happens to be judicial record which throws
light on the subject. This is decision in the
case of William 7. Carter ". the City OF Otta-
wa. Ill.,. rendered by Judge Gresham on July
% 1855 and in another column OF this Issue
we publish the decision in full. In his letter
to Minister Egan. Mr.. MacNeagh declared that
he did not like dishonest man. After read
ing this decision some persons may be inclined
to inquire how he likes himself.
In 1869 the city Of Ottawa issued some bonds
which the supreme Court of the United states
declared t. be- void, holding. in another case,
that in the hands of an innocent purchaser their
value might be collected At this time Ms.
Louise Mathcr. who was 4 connection by mar
rage of MIR. Franklin MacVCagb, Of Chicago,
Wayne MacVcaghS brother. was the owner Of
NZO. wv Oh lU'N' U'Uu>. l'' IL i"'h'''' 80
agent in the management OF Ms. M1thcl
estate consulted Franklin MacN cash a 70 how
he might collect upon the invalid bonds. and
was referred by Franklin MacN cagh TO Wayne
MacN,agh in Philadelphia. Among Wayne
MacVcagh'S clients in that city was William
+. Carter. wealthy man and a large investor
Mr.. Carter had made numerous investments
on Waync cYcagh'S advice. and by his own
testimony and Mr.. MacNcagh'S admission had
constantly consulted and was Al this time con
,ulring Mr.. Mat~ca.h a. his attorney and gen
cIal legal adviser
Mr.. MacNcagh received from lanes Mrs.
MathcrS bond, with full power to take such
proceedings Il hc thought necessary in order
10 collect the sum involved in them from the
city of Ottawa He sent for his client Mr.
Carter. and told him that the municipality was
abundantly able 10 pay itS debit. and th2t The
bonds would be paid al maturity nrgl"cilng.
however 50 far aS the evidence goes. to say
ANYTHING about their having been imp,achcd in
the courts. Mr.. MacNcagh sold the bonds t.
Mr. Carter and received for them their fac
value S2O.0CO. Then in Nh Carter, namo
he instituted preceding for the e. lection IF
lhc bonds against the city OF Ottawa. claiming
that NJ. Carter was an innocent holder. This
was the question before Judge Gresham. AID
il was decided against Mr. Garter. hW Mt
nearly 50 much against Nh. Carter Is against
his attorney Mr.. MacNeagh claimed that hc
did not act in this Transaction ~ Nr. Carter =
LAWYER but Judge Gresham gay" him t0 under
stand that he could net So. easily diyc,t himself
of a relation So intimate and Of long stand
ing. Perhaps the most I'M lca>ant feature oi
thc ease is that when Nh. Macy cagh ct the
money from Mr.. Carter he held possession of
il upon an apparent understanding with Mrs. !
Nathcr that if he succeeded in collecting II oi
the municipality hc should reimburse both \lr.
Carter and her. but that if be- failed hc should
rtturn II 10 MI Carter. judge Gresham erath- |
ingly remark, that there can BE- >catcl! a |
doubt that Mr.. MacNcagh held the money fol
this purpose lcmarl,ing that any other thc-
oly would make Mr. NacNcaeh tlmindiul f
hi, duty T. Mrs Maihcr rs her Attorney In
= word Mr. Macy eagh knowing that the bonds |
were ILLEGAL nevertheless formed and ell
dcavorcI 10 carry ont "A plan II make the cty
of Ottawa pay them. This is the mln who
stands up before the country today processing
to have left the Republican party because II
was not good enough for him. and to have gone
into the arms Of Cleveland and tho Democracy !
because he was only happy when in the com
rany Of yirtuouS rcfoimcIS. This is the man
who objects to Minister Egan because he does |
not like dishonest men and who has the
audacity 10 accuse Mr. Ecan of improperly adj !
mniStcring a trust fund.
We think that Mr. Wayne Macy cl2h i |
pretty well disposed Of for this IN. We
doubt if he will be needed for another Demo
cratic speech attacking IriShmcn. senator Hill |
probably did not know OF tn, decision when he |
spoke at the Tammanl meeting Tuesday night |
but he took Mr. MacNcagh'S measure pretty |
well when he said Nor have anything but |
contempt for the ostcnatious zeal Of the now |
convert who, having for years enjoyed the
honorS and cmolumcntS Of positions conferred |
upon him by his party, suddenly sees new |
Ii ht and turns around and bitterly asSails his |
former associates with ycnOmouS yitupcIatlon." |
KEEPING TP Il FAD RECORD.