The evening world. [volume] (New York, N.Y.) 1887-1931, 1894-09-19
why Mr.. MORRIS QUIT
Whlsksy Trust People Used His
Name Without Authority.
Told Sage and Others He Would
lndorse Notes for Loans.
His Resignation May BE Followed by
that of President Greenhut.

The latest development in the affairs
OF the Whiskey Trust Is the resignation
of Nelson Morris from the directory and
his declaration that he is sick and tired
or the whole thing and wants nothing
more to do with it. His retirement, 1t
Is stated, Is the forerunner of other
designations, including that of President
Greenhut, and a probable change of
policy in the management OF the affairs
of the Trust.
With MIR. Morriss retirement some of
the inside history OF the recent attempt
to raise $5000.00O has become known.
| Mr.. Morris is the largest capitalist con-
nected with the Trust, and in the judg-
ment of Russell Sage and other shrewd
financiers his Endorsement was the one
of value on paper of any considerable
amount. Mr. Sage thought well enough
OF Mr.. Morris to let the Whiskey Trust
have half or three-quarters of a million
dollars II Mr. Morris would put his
| name to the note.
When the bankers and trust companies
were being solicited by the Trust people
few weeks ago to lend the Trust a few
millions, it was represented. 80 the
bankers say, that Nelson Morris would
indorse all the paper. 1t was upon this
assertion that Uncle Russell Sage and
| some of the bankers in this city agreed
to let the Whiskey men have sums rang
| ing from one to to ten hundred thousand
dollars.
| During all this bargaining nothing
was heard direct from MIR. Morris. but
the men with money to lend took 1t for
granted that the millionaire cattleman's
associates spoke by the card.
Mr.. Morris will not talk about the mat
ter at all. but from an intimate friend 1t
is learned that the former knew moth
by the Trust people that he would in
| dorse the loan. His little girl was near
death s door with typhoid fever and Mr..
Morris spent all his time at her bedside
r. II his summer home at spFlnz Lake
Late in the evening OF the day on
which It was reported that the loan had
Sage was to furnish half a million of
the amount required. Mr.. Morris,
through, friend, learned that, he was
for the loan. The next morning he took
the first train to New York, and, after
learning the situation, he went directly
no one. had authority to say that he
would indorse any paper OF the Distil-
ling and Cattle Feeding Company, and
/
ment Of one dollar of the loan
simultaneously with this declaration
by Mr.; Morris, Uncle Russell,s profit on
ished, for, he said that, without Mr.:
Morris's guarantee of the loan he would
not let the Whiskey people have cent.
Trust people Eo E wnd OF on r Morrs
errand to the city, and rushed up to Mr..
but; as told in The World" at that, time,
m NIL hn lot lie
OF which would make interesting reading
From Mr.. Sage's office Nelson Morris
started on round of the banks where
applications for money had been made
bankers knew that Mr.. Morris would
have absolutely nothing to do with the
loan, and the prospects OF the Trust
obtaining the latter were as doubtful as
ever The Trust stock. which on the re-
ports that Morris would indorse the
paper and that the loan had been sue
cessfully negotiated, had risen to around
%, broke and kept going down until yes
| terday, when 1t sold at 8, the lowest
price ever quoted for 1t on the Exchange.
The highest 1t ever sold for in the mar
ket was 72 H.
1t is generally supposed In Wall street
that Morris was short of a good lot of the
stock on the way down, and got out with
little h6 or no loss Is u9derstoed oo that
worth of bonds which were sold last
year to a syndicate of the directors and
their friends President Greenhut, is re-
of the last few days
Just what situation the Trust will find
| itself in in the near future is a question
among Wall street men. as all sorts of
predictions are freely made, and the only
| support which the stock OF the concern
receives comes from the few who still
| have good money tied up In 1t.
|
If you wish any boarders for the Win
|