The evening world., 1894-09-19
why Mr.. MORRIS QUIT
Whlskey Trust People Used His
Name Without Authority.
Told Sage and Others He Would
Indorse Notes for Loans.
His Resignation May BE Followed by
that of President Grccnhut.

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
OF the whole thing and wants nothing
more TO do with it, His retirement, 1t
is stated, is the forcrunner of other
designations, including that of President
Greenhut, and a probable change of
policy In the management of the affairs
of the Trust.
With Mr. Morris's retirement some of
the inside history of the recent attempt
to raise 100000 has become known
Mr. Morris Is the largest capitalist con-
nected with the Trust, and in the judy
ment of Russell Sage and other shrewd
| financiers his indorsement 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 If 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 few
millions, 1t was represented, so the
bankers say, that Nelson Norris 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 Mr.. Morris, but
the men with mshey to lend took it for
prantad that tho millionaire Cattlpmau'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
ing whatever Of the representa- lions ma ,e
by the Trust people that he. would in
| dorse the loan. His little girl was near
deaths door with typnoid fever and Mr..
I Morris spent all his time at her bedsd =
in his summer home at Spring Lake,
Late in the evening of the day on
which It was reported that the loan had
| been all arranged for, and that Russell
Sage was to furnish half q million Of
the amount required, Mr.. Morris,
through friend, learned that he was
expected to be the indorser on the paper
for the loan, The next morning he took
learning the situation, he went directly
to Russell Sage and told the latter that
no one had authority to say, that he
ling and Cattle Feeding Company, and
! that he would not guarantee the pay
ment of one dollar of the loan.
Spontaneously with this declaration
loan of half million dollars van
ished, for, he said that without Mr..
Morris's guarantee of the loan he would
While this was going on some of the
| Trust people got wind of Mr. Morris s
errand to the city. and rushed up to Mr.
Sage's office to smooth matters over
but, as told in THE World" at that time,
nice family row took place. the details
OF which would make interesting reading.
From Mr.. Sage's Office Nelson Morris
started on a Found of the banks where
applications for money had been made
| by the Trust, and in n short time the
bankers knew that, Mr. Morris would
| 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
cessfuly negotiated, had risen to around
%, broke, and kept going down until yes
price ever quoted for it on the Exchange.
The highest it ever sold for in the mar
ket was u 12.
1t is generally supposed in Wall street
stock on the way down, and got out with
little or no loss 1t is understood that
he holds about $4,000 of the 100000
worth of bonds which were sold last
year to syndicate OF the directors and
| their friends President Greenhut is re-
ported to be a heavy loser in the decline
| 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 It,
| -
| If you wish any boarders for the Win