The evening world., 1893-10-17
GOES TO JAIL.
A Wall Street Broker Pouuced
Upon by Creditors,
Charged with experimenting More
Than $3.50, 900.
All tho Money. He says. Went Into
Wall streets whirlpool.

''..iN' ~ IHN 'l'H' l'I bNllliI''E HIll
a desire t. speculate With other peoples
money, Nnliam l. Patton. for twenty
Years y Wall street broker mud member
ur the Stock Exchange. Is n prisoner IN
Ludlow street Jail on the cnnrgc ~
Experimentation. In nearly every way his
cas-" iS similar to that Of Weeks. the
fugitive LAWYER, except that tho amount
stolen is not so much Patton made
away with about S75o,Ooo.
OF an that amount only 81, ON hna been
saved from tho wreck. according to the
sworn statement ~ tho ar'aut NJ
remainder, according to rntton's own
statement. dropped into the whirlpool Of
Wall strrot oyer CorlaEc and Reading
Stock.
Thcro is another story going around
an unvcriti"i one n Their" was n
woman in the ease. ana that high living
had much to do with the brokers' down
fan. This Is denied by his friends.
Among tho number who do not believe
II is collector kilhroth, who had been
Patton's counsel and knew him for
years.
II think said the collector to an
Evening WorIi' reporter THIS morn
ing, chat Patton is not half as bad as
he is painted. Had he been given a
chance | believe he would have got on
his feet. The fact is, he has a lot Of
wealthy relatives, and by arresting him
his creditors AZ" trying to squeeze the
money out of them"
This view is born" out in the main by
Robert u. Honeyman, of ~ Wall street.
counsel for the creditors. He told tho
reporters h" was anNioss only to get
back all the money he could. He knew,
ttNes was n millionaire.
patton, Of course" he added. "wa.
w'll known and trusted. If he had not
been h" would never have been given
thes" largo amounts OF money. He
cheated every on. Of his creditors. in
81, ding myself, IT is because | do want
% get back all the money possible That
| 10 not want to discuss the matter. !
am sorry IN" facts have come out as the
NOR" publicity the less chance We have
OF EetltnH the money back,
Street Jail last night, is not anxious to
throw much light upon the matter.
When an Evening World reporter
SGa e. %,r HEoT No, hin this mbSrnins he sad
Al he had to gay had been told TO his
lawyers, as well as to his creditors,
His arrest had been a surprise to him.
Patton Is the senior member OF the
arm Of William L. Patton a. CO., Wall
street brokers, who until May + 1893.
were considered among the solid men Of
siInmcnt to BARCLAY T.. V. McCarty.
tn momcnt the fact OF The assignment
became known several small houses in
the street closed their doors. Henry L..
SatonSthH. whose sister Patton married,
was battOn's partner.
Th" asHirn"c's report, which is now on
~" in tho. court of common Pleas, shows
that tn" liabilities of the firm are S7sS NM
OF the liabilities. $50 OoN represent the
actual lops to the creditors. OF this
amount. according to Patt"n's confession
TO his creditors, he transferred $3.50, ooO OF
1t 10 his own account 1t was all, he
says, lost in Wall street,
Robert b.. Horeyman, who made tho
niiiiaNit upon which IN order Of arrest
was iss,rcd by Judge Patterson, II V
that railway and other securities valued
~ sbn"H were frnudulcntly disposed Of
nE Patton nc day before the failure,
Thcy were given AZ collateral to the
Holland Trust Company and the Nam
haitian Company.
The craig estate is n creditor to tho
extent oI 81. N~. and It was on his claim
that the order OF arrest was granted.
Among other creditors are Villa m
nuryea,, sto,nN; Robert II. Honcymmn.
81 "", Judge Potter, of Providence. $50
uN ana ;. H. Valentine, II retired law.
The millionaire rc,ntlve referred 10 is
his uncle, LUDLOW Patton, who lives at
The" lat. William W. Patton. u Congrc-
y%ntional clergyman. who. nj the ttmC OF
his dcnth. was President Of tho Colum,
hinn University at WASHINGTON.
only 4 short time ago n portrait In oil
OF MS father was presented TO the INT
N"rSlty, and the broker made "A speech
a. the ceremonies. lie formerly lived al
IhHlnitold, y. J., hui after the failure
Wen, to lily. with his hrr;hcr-in.lLw at
W"st0cld. y. j. "
soon after the failure he sent his wife
and two children ~ England. where th.v
mr." now .StavtnE with his sister. Pat
ton was fortN-nine years old the day he
Failed in Wall street.
Horny l." S~tltunstull. patton's brother.
iu-luw and partner, is the son of o%.
Coy. S"altonStall. Of Connecticut, and
Is known throughout tho country AS onc
of III" foremost patrons of bicycling
A. ~" WORLDS Fair bicycle meeting
this summer he presented the Salton.
stall International challenge CUP. valueu
ai SllaN. Ten Years nEO tho partner,
v"ni"r. Of which Ludlow Patton was a
member