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
OF the whole thing and wants nothing
more to do with 1t. 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 Mr.. Morriss 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 Enforcement was the one
Of value on paper of any considerable
amount Mr.. Sage thought we'll 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 O few
millions. 1t was. represented, SO the
phhhcIb nay, tndt INtlsOn Woulu
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 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
ing whatever Of the representations made
dorse the loan. His little girl was near
deaths door with typhoid fever and Mr..
Morris spent all his time at her bedside
Il his summer home at Spring Lake.
Late in the evening Of the day on
which u was reported that the loan had
been all arranged for, and that Russell
the amount required. Mr.. Morris.
through a friend. learned that he was
expected to be the indorser on the paper
the first train to New York, and, after
learning the situation, he went directly
to Russell Sage and told the latter that
ling and Cattle Feeding Company. and
that ne would not guarantee the pay
ment Of one dollar Of the loan:
by Mr.. Morris, Uncle Russell's profit on
a loan of half a million dollars van
ished, for, he said that without Mr..
not let the ,Whiskey people have a cent.
While this was going on some of the
Trust people got wind of Mr.. Morris 8
GRAND to the city, and rushed up to Mr.
Sa nf1 ~ rtaat tar,
but, as told in ''The World" at that time
| a nice family row took place, the details
| OF which would make interesting reading
started on a round of the banks where
applications for money had been made
by the Trust, and In a 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-
paper and that the loan had been sue
cessfully negotiated, had risen to around
20. broke. and kept going down until yes
tsrTday when II sold a. the lowest
The highest 1t ever sold for in the mar
ket was Y 1-2.
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
he holds about $4,000 Of the s 600 ZOO 90
worth OF DOn0S winch were sold last
year to a 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.
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,