New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-10-14
81 G.
Sixth Avenue and 23d Street
GENERAL NEGLEIS ANSUER.

WHAT HE SAYS IL REPLY 10 THE CHARGES OF
ALBERT II. KING.
General James S. Negley OF New-Jersey, who
was arrested about week ago charged by Al
bert H. King with obtaining money fraudulently
from the King Locomotive Works Of Bordento own,
has made answer to the charges OF his ac-
cuser The General. representing the Mexican
Trust and Investment Company. said to have
undertaken the sale Of bonds Of the King Loco
motive and Car Works; have gone abroad for
the purpose OF negotiating this sale. and to have
had the only rcsul. pleasant "Trip In Europe
at the expense Of Mr.. King and his partners. OF
this General Neeey makes the following explana-
ton:
-Four years ago he says a company he
nected with undertook the sale OF what turned
out TO be aerial issue Of bonds, by an aerial
company, with an aerial capital. now rcSretfully
admit that II act OF lunar madness to en-
terrain the proposition anticipate the disposal
Of such fran securities" The General says that
Mr. Kings protestations that the Pennsylvania
Railroad Company was interested IN the enter
prise and had contracted for large order of To-
comotiVes. and that his company owned realty
worth at least $4,000. commended the proffer
a worthy one. General Negleys company there
fore submitted IT to It's representative In London
and Paris. who proceeded to organize syndicate
for the purchase Of the bonds. Later they were
informed that the Paris syndicate would take the
bonds the terms submitted.
General Negey says the negotiations proved to
be somewhat expensive. and before long he and
his partners cabled abroad 81 200 In cash. and made
"A large outlay In other ways. The receipt of
ca Die message dated Paris January II, 1891 and
reading: $1,000 payable arrival Of bonds in Paris
balance when works complete" made them In
connection with written advices, think that their
representatives an English bank employe, was
fully authorized to instruct them.
According to General Ncgey's version, Mr.. King
and his attorney repeatedly urged the Trust Com
pany to have the General sail at once. as to con-
clude the arrangement legally. Mr.. King. he says,
agreed TO advance 5000 toward necessary expenses,
provided the Trust Company would guarantee the
return OF the money III case OF failure This was
1881 but Ii provided that In case the negotiation
failed the 5000 should be refunded to Albert H.
King demand nothing being said about the To-
connective works
the Mexican Trust Company people that he should
have TO borrow the 5000 and asked their influence
help him procure the loan. They declare that he
not only borrowed the 5000 but borrowed also an
additional 5000 General Negley further rectes
that his arrival In Paris he found the situation
nearly satisfa Glory as had been represented
spending much time and money in attempts to con-
summa te the arrangement he had to let the whole
thins fall through This. he says. was partly owing
private advices received by members Of the syn
says that there was proposition made In London
to purchase the bonds II the interest guaran-
teed, but this could not be done, and King paid no
attention to the scheme. Mr. King. the General
Of the Trust Company for the return Of the money
He says King holds some Of its stock. worth over
So 00 and the company has received considera-
ton for 1t. Finally, he cites commercial report
airy T. 1893 which says the King locomotive concern
ceased to exist more than year ago. The prop