The morning call., 1893-05-12
HAD AMPLE FUNDS
w. |. Morgan's Estate in
the Thousands.
NO Financial Motive for Suicide-Con-
fIicting Theories Because of Com
piicated Transactions.

The mystery surrounding the circum-
stances of the death of w. l. Morgan be-
comes more involved as facts develop.
The fatal wound is such as to almost
preclude the possibility Of its being acct
dental. Yet statement of the dead mans
affairs. as presented by his friends, would
tend to show no financial cause for sui
eide. No other cause has as yet developed.
MIR. Morgan's money was all tied up in
Belvedere property" said q real-estate
man yesterday. He bought just as sales
were ceasing. His expenses were heavy
and he had no income. In consequence,
he had to borrow.
"l1e was very active man, but lacked
foresight. and was extremely unwise in his
ventures.
His wife's property and a legacy left
her a short timo ago by her grandmother
have all been absorbed, and Morgan has
been very short of cash. 1t is possible
that chagrin at unfortunate ventures and
despair of recouping losses caused his rash
act"
George II. Barsafe from whom Morgan
purchased the Belyedere property, said
that he had never pressed Morgan for
money.
"He owes me only $780," he said, "and
this is amply secured by sixty shares OF Bel
vedere stock. One half OF this became due
October l, but the other half was not due
till October, 1894. l can't conceive why he
should have committed suicide"
Mr.. Morgan was director of the Cali
fOrnla Guarantee Investment Company.
NOt only is he not in debt there but 9 had
not cashed a check for S34 which had been
sent him several DAYS before his death.
There is DO excuse for the suicide the
ory," said Attorney Edgar NJ. Wilson.
"Ar MORGAN owpad 700 shares nf Rplye-
deere stock. On this he had borrowed Sl5,-
COO from the American Bank and Trust
Company. They wanted to call in the
money. aud four days ago he borrowed
$4,000 from II. NJ. a. Miller, president of
the California Guarantee Investment CON-
panY, giving as security 230 shares Of
stock lie owns in that company, which are
worth sos each The 5000 was paid to the
American Bank and Trust Company, re-
duclng the amount due them to $1,000
TO MIR. Hoffschneider, a capitalist in
terested in the Belvedsre property, Mr..
Morgan spoke of borrowing $4,000. His
idea was to get the money from a private
individual rather than from bank, as the
banks only want TO make short loans.
With this money he would have paid off
his Indebtedness. and instead of having
four or five scattering loans, liable 10 be
recalled at any time, would have had one
longtime loan"
At the American Bank and Trust Com
pany the information was given that MIR.
Morgan had borrowed $4,000, but that the
matter was adjusted to the satisfaction Of
the bank.
Morgan owed some money to John Coop,
the retired capitalist, also.
He took M more of burden than he
| could carry" said Mr.. Coop. His Bel
vedere investment would not have been
bad one had he had more money. AS is,
he tied up all his money. and would have
hpfOr,4 Dn On
turn"
zone thing that would seem to make the
theory plausible that he committed suicide
because OF financial troubles Is that no one
knows OF his having tried to sell any of
his property although all OF i was market
able. HIS 720 shares of Beyedere stock at
$50, and the house and lot there valued at
| $4,000, together with 23S shares of CALI
fornia Guarantee STOCK at $50, would give
| assets of $40. 800 As far as is known he
owes me $500, the American Bank and
Trust Company $1,000. ii. NJ. A. Miller,
$4,000 and George Bargate S2l00. This
| makes otal OF S17,75 and gives mar
gin of So, 80.
about week ago he borrowed $3.50
from me giving his personal note. l re-
CURED no security"
On Mays, about two weeks ago. Morgan
applied 10 a gentleman living in the Mis-
sion for the loan of $4,000 but was re-
fused it, The gentleman explained that
the refusal was given because he had to
use the money in another way. Mr.. Nor
gan said he lad to have the money the
next day. but did not explain to what use
he intended putting it,
Last week he went TO Sanford Sachs, a
capitalist. and tried 10 get So, 900. In this
he failed, Mr.. Sachs giving vim final re-
fHsal the morning Of his death.
The failure of the Lennox boarding
house a few days ago added one load more
to the responsibilities Of Morgan Ii was
Kept by his mOther-in-law, Mrs. Normand,
and he was ON her bond for $1,000 for rent.
There was about $500 due.
This property was sold at auction yester-
| day by Sheriff McDAde The proceeds of
the furniture aud carpets realized only
slightly more than the mortgages on them.
Thus the paying Of the rent would have
fallen on Morgan.
So lar as is known Mnrgan's accounts
with the Belvedere Company are straight.
The funeral Of William l. Morgan took
rlace Yesterday afternoon at . o'clock from
Odd Fellows Hall. 1t was under the
auspices of Golden Gate Lodge No 800, |.
o. o. f., ana was largely attended
The interment took place al Laurel Hill
Cemetery.