The times., 1899-08-27

j. D. Lasley, we'll known in business,
bicycle, and club circles in this city and
Baltimore, and who has been the agent
of the Eclipse Bicycle Company, of Elnira,
N Y, at the corner of Fourteenth and II
Streets northwest, and also the representa-
tive of the Hallwood Cash Register Com
pany, of Columbus, Ohio, is absent from
the city. He has been absent for over
week, and it is said by representative of
the Eclipse Company that his accounts are
in bad shape. Moreover, it is alleged that
Mr.. Lasley mad missappropriated funds and
has sold stock and fixtures on which the
Eclipse Company held chattel mortgages
and for which, it is alleged, the absent
man has made no return. All knowledge
of the whereabouts of the missing man
was at first denied, but M. NJ. Lasley,
brother, stated last night that J. d.
Lasley was at present in Baltimore, and
that he left the city rather than face the
inevitable crisis he saw coming. Mr.. Whit
tier, the representative of the Eclipse Com
pany who is at present in the city for the
purpose of Strengthening out the accounts
of the business, stated that the amount in
volYed could not at present be estimated.
In answer to question, however, he said
that S5, 600 would cover the amount of the
alleged deficit.
The news OF Mr. Lasley's financial diff
culties came in the nature of a surprise
to many of his friends. Some OF them
say that from what they have seen, they
felt sure a crisis was expected They at
tribute the whole affair to the overzealous-
ness OF Lasley, and claim that his we'll
known interests in cycling matters caused
him to become so deeply involved that
he could not stay the impending failure.
M. Lasley stated last night that his
brother occupied a peculiar position. He
claimed that the money unaccounted for
was spent in the furtherance of the Eclipse
Company's business interests The money
first invested, he stated, bore fruits and
business prospered, but the usual slump
occurred, and it was of such protracted
duration that all efforts to revive the
business were futile. Finally there was
nothing to do but quit and because of the
confidence reposed in him by the Eclipse
Company and past friendly relations, Mr.
I>asIey had not the courage to stand up and
face the representative whom he knew was
coming TO investigate matters.
According to the statement of Mr. Whit
tier, Lasiey entered the employ of the
Eclipse Bicycle Company in 1897 as a mana
ger OF the Washington branch. He succeed
ed Charles A. Cabrera. Mr.. Whittier said
that Lasley's administration was q success
lui Oue Ill EVERY way ana resulted IN the
firm placing in him the utmost confidence
The firm was not surprised when Lasley
made proposition to buy out the local
business and conduct IL on his own re-
sponsibility rather than act as a manager
He was looked upon as enterprising and am
bilious, and the proposal he made was met
with favor. There was every reason why
he should want TO progress and the Eclipse
Company, appreciating the merit of their
hon r11~ar, xeynr lQ6 IN ndr h
and supply him with the product OF their
factory. Accordingly Lasley purchased the
local business and has since that time con-
Quoted ii himself
At the time of the change IN business re-
lationship between Lasley and the Eclipse
company the local branch at Fourteenth
and H Streets was well stocked and con-
tained valuable fixtures which had been the
property of the company. These were pur-
chased by Lasley for which he gave his
notes secured by chattel mortgages on the
purchased property. Since that time all
goods such as bicycles bicycle sundries,
ETC., which LasIey contracted for were con-
signed TO him. That is to say, according
to Mr. Whittier's statement, the goods were
the property of the company until paid for
and in the event OF no SALE they were TO be
returned. II is this part OF the contract
which Lasley is alleged to have violated. 1t
is stated that he not only disposed of all
goods in his charge, but sold the fixtures,
etc, upon which the company held chattei
mortgages. 1t appears that Mr.. Lasley did
a prosperous business during his first year
as proprietor of the branch store here. He is
said to have expended considerable money
in advertising the business in various ways.
AS was stated, the money thus invested, 1t
is said was productive of the best nossible
results. Mr.. Lasley was recognized as a
prime mover in all matters pertaining to
cyclists and cycling, with an eye TO busl-
ness
After a year of prosperity Lasley, 1t Is
said met business reverses until he hnally
saw there was nothing in the bicycle busi-
ness for him. The business was practically
on the wane in this city and Lasley, real
izing that, cast about him for something
more lucrative. Finally he took charge Of
| the local interests OF the Hallwood Cash
| Register Company. This business was con-
| Quoted as side issue to the bicycle busi-
ness for some time until finally Lasley an
| nounced that the new business had as
sumed such proportions that he could not
attend 10 it properly and devote time 10
the bicycle trade. He then advertised that
he was going to give up the Eclipse agency
| and would sell his entire stock at low fig
| ures. The store at Fourteenth and II
| Streets was vacated and the business OF
! the Hallwood Cash Register Company, I'M
der the control of Lasley Bros sales
| agents was removed to 524 Twelfth Street
| northwest, where it is now located. 1t was
stated there yesterday that Lasley Bros.
controlled all the territory in Maryland,
| Virginia, and the District Of Columbia.
| They have another store in Baltimore. The
| Hallwood company's business, 1t was
| stated, is in a fourishing condition, and
the absence of Mr.. Lasley had nothing
| whatever to do with 1t. The only business
involved, IL was said is the bicycle trade.
| Mr.. Whittier, the Eclipse Company's rep
resentative, stated last night that he came
| to Washington because his company un-
derstood that Lasley had abandoned the
business here and had left the city. Mr..
| Whittier arrived here Friday morning. He
| said he expected to find business in a de-
| pressed condition, and had come to save
what portion of the stock he could. He
| further stated that he expected to find the
major portion OF about 200 bicycles on
| hand which had not been accounted for to
| the company by Lasley. To his surprise
! he discovered on his arrival that the store
| had been practically cleaned out. Not only
was almost the entire stock gone, but the
| fixtures, he also said had been sold. He
| attempted to go over what books were in
| the store but the search led to nothing.
| The wheels were gone and there was moth
| ing TO show where, said Mr.. Whittier.
The situation as to the fixtures was the
same Subsequently MIR. Whittier claims,
| he learned that a number of bicycles had
| been attached by the National Safe De-
| posit, Savings, and Trust Company, which
is the renting agent for the owners OF the
store occupied by Lasley. The store had
| been leased, and as Lasley had failed, it is
| said, to pay his rent for August several OF
the bicycles were seized in lieu thereof.
! Mr.. Whittier says he later regained pos