Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1896-10-16
puRoHAsrs or ssoo.ooo MADE
ny Isaac Williamson, who Lost I
Large Part of the Funds which H
Held as Trustee.

ny Isaac Williamson, who Lost a
Large Part of the Funds which He
Held as Trustee.
An effort is to be made to compel the
members of the brokerage firm of McIn-
tyre & Wardwell to return valuable stocks
and bonds deposited with them as security
by Isaac Halsted Williamson, says the
New York Herald of Saturday. The
stocks did not belong TO Williamson, but
were held by him as trustee under the will
of his father, Benjamin williamson, for
the education and maintenance of his two
children, Leila and Benjamin. Mr.. Will
Hanson has lived with his family at the
Brooks House in Brattleboro the past three
or four years. The daughter Leila was
Mrs. E. A. Tyler, whose death by drown
ing With her husband startled the people
of Brattleboro last July.
After the loss of this trust estate Mr..
Williamson was removed from his post of
trustee by the Orphans court of Union
county, N. j., and Theodore G. English
was substituted in his place March II last.
AS soon as Mr.. English was able to ascer-
tain exactly what stocks had been placed
in his predecessors hands he went to the
office of Mcintyre & Wardwell, in the
L
mand for their return. He met with re-
| fusal and was informed that the claims of
the brokers against Mr.. Williamson had
not been entirely satisfied by the sale or
J retention of the hypothecated stocks.
The claim made by Mr.. English was for
10 shares of the capital stock of the New
York Central and Hudson River railroad
company, 20 shares of stock in the Cen
trail railroad of New Jersey, 152 shares of
Delaware and Hudson Canal company's
stock, $50 shares of the American Coal
company's stock, 100 shares of the Hack
ensack Water company's common stock,
100 shares of the Hackensack Water COM
pans preferred stock, p shares of stock
in the National State bank of Elizabeth,
N. j., and 10 $1,000 bonds of the Central
railroad of New Jersey.
These stocks and bonds were formerly
owned by Benjamin Williamson, chancel-
lor of the state of New Jersey The
chancellor died on Dec. /, 1892. BY his
will he gave fortunes directly to his daugh-
tiers, Elizabeth, Maria, Sarah and Eve, and
to his sons, Benjamin, jr., and Frederick
b. williamson. Handsome provisions
we're made for several of the grandchil-
dren. The chancellor left nothing to his
son Isaac except the management of the
portion of the estate bequeathed to his
Qsaac's) two children, and a contingent
interest in their shares in event theJ died.
There was a small bequest to Mrs. Isaac
williamson. The old gentleman was care
full to specify in a codicil that the funds in
Isaac's hands as trustee were not to be
subject to the payment of his individual
debts, and that in the event of Isacc's in
| capacity to serve as trustee, either on &C.
count of mental collapse or for any other
reason, another person should be substi>
tuted in his stead.
Isaac Wiliamson's speculations began
soon after he took charge of his children S
| property, and continued until he had lost
about everything. 1t is claimed by Mr..
| English that the brokers' accounts show
purchases for their client to the amount OF
more than 100000. He bought wheat
and sugar on a margin, and the stocks he
| put up as security finally passed TO the
brokers.
Mr.. English says the benefciaries of the
trust have no resources outside of theil
interest in the securities. He has begun a
suit in the supreme court against the bro
kers, asking for the return of the securi
ties they still hold, for payment of those
they have disposed of, for all interest, div
ldends ana pronts PAID on the STOCKS anC
bonds, and for the amount of the com
missions and interest they got from Is ,aC
Williamson during the transaction,
Mr.. English says in his complaint that
the brokers knew Mr.. Williamson was de
spelling the estate, as his account was no
as an individual, but as a trustee. Aftel
his great losses the brokers were able Il
sell some of the securities in their hands
but had trouble with other stocks, as tn,
officers of the corportions did not know i
they had power to make the transfers, a.
requested by the trustee.
Latham G. Reed, attorney for McIntyr
& Wardwell, moved before Judge Beck
man Friday for an order compelling Mr.
English to make his complaint more defn
lite in several particulars. He wished tC
have the complaint say positively, for in
stance, If the charge was that the brokers
did business for Williamson, knowing tina
he was embezzling the funds he used ant
was converting trust securities to his owl
account, or If the claim was merely TO
damages.
David Bennett King, Mr.. Engish's law
yer, urged that the complaint was perfect
ly explicit. Judge Beekman reserved hi
decision.