New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-12
MR.. PETTITS TANGLED AFFAIRS.
THE OPINION GROWING THAT HE Is KEEP
ING OUT OF THE WAY TILL THEY
ARE STRENGTHENED OFT

While John Petit, the missing real estate dealer
still vanished entity 1t is the general opin-
lon among many of his friends that he is merely
holding himself in secluson until his tangled affairs
have been Strengthened out by those who are act
Ing for him In his absence There were no de-
velopments OF any kind yesterday In the case
around which much mystery has been woven.
but which apparently has more seriousness
far rs the disappearance is concerned. than the
mere hiding away Of man whose business affairs
are Involved and complicated.
Alexander c. Quarter. the vice president Of the
fet'it Realty Company. In whose name some s. 600,
coo worth OF property owned by Petit has been
decided. and who as was explained In yesterdays
Tribune has served long term OF Imprisonment
for embezzling the funds 81 savings bank which
he controlled In Wheeling. ". Va. was at work as
usual yesterday IL. the offices Of the Petit COM
pany. He declined to be seen by newspaper men.
however as did also DR.. Henry r. Waite. who is
acting for Mr. Peltit under a power Of attorney.
DR.. Waite referred all callers to Walter X. Griffin.
a lawyer, Of No II Pine-st, who is said to repre-
sent various shareholders In the Petit company.
and who had drawn up statement outlining the
present position Of the company.
The following is Mr. Grifins statement Of the
Petit case
The affairs Of the John Petit Realty Company
Mr. Calhoun or by the absence Of John Petit Mr..
s st to no The "SSh ns
owns the Bennett Building and the Beekman Built.
every stockhoider and to the mortgage Interests
inycved will be made for the conduct of the prop
old directors ncudns NJ ousrre erse Voluntarily
Sae been ,"e c aeepd ana Mr.
Ses M N Of 5 Sn S@ys
involved. and there has never been the slightest
Bs pr sns aesy for
was rendered and accepted before i was known
sympa'hS for @D him nth that after many q
lions should be brought up against him at time
dea Of fn yoe in the Os Of the
Petit Realty Company or that the affairs OF that
company have not been honestly managed ny Us
Mr. Pettit's absence has no. affected the conduet
its anaira in regard to Mr. Pe.t:ts indvId nal
ss Of r eaa 80
ss" o v ana
in his transactions his personal Liabilities are 9eS ss
various individual properties. AS real estate upon
which money is loaned Is ordinarily considered to
loaned s mr. P s' propctes unless forced
sheu ssss Of M M sf tc
debtedness Is remarkably small for one who Vas
Mr rs ss a1ss me that Mr.
houn was dummy in the various r s;. ns .an
Mr. cshomn wow nov claims the Contrary the
settlement Of this disputed matte, OF asst o
|
pany nor any OF Mr. Pettits properties except ~
specific properties in the suit In the action brought
| by Mr.. Calhoun. 49,, 49,. =, 1.
Mr. Pettit's absence is to be regretted hut ne IS
not the first man who. when more or less conIusion
has arisen in his affairs has placed the responsi
bi,ity on what he considered competent shouders
| and personaliy has withdrawn from all worry !.
| am enabled from intimate knowledEe OF
affairs to say that his attorney In fact DR. waite
ms ahIv and faithfully labored to protect every in
terest involved The interests OF al who t,, rep
| rosent as vel as the interests OF MT fettlt naVc
| been carefully guarded bv him. He has sougnt 20
secure and furnish to full and accurate intotna
lion and has given most able ana valna pla as
| sistance All persons whose interests entitie lhen
to knowledge have been furnished all des'reu III
formation.
| Austin B. Fletcher and Louis H. Schultz. as trus-
teen Of the estate Of Jackson s. Schultz, have no"
brought a suit In the Supreme Court for the iore-
closure Of a mortgage upon the property az NOS
o.7 and a4s Pearl-st John and Aida Petit are the
d.,endants Justice Dugro yesterday granted the
snncation of the plaintiffs for permission to serve
re defendants by publication In the suit IN me
applicafion for the order II Is set forth tnat MT
Petit is Of the State. and that MS exact whee
oS,o NOT known.