The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-11-20
OWES A MILLION.
Wall Street Operator Files
Bankruptcy Petition.
His Assets Are Set Down at
Nothing.
CREDITORS PRESSED
And He Takes Steps to Avoid
Any Further Trouble.
He Went Broke on Big Rail-
road Venture.
CREDITORS PRESSED

New York. Nov. 20.-Francis D. Car
ley, who has been a conspicuous figure
in Wall street for several years as
stock market operator, and who kept the
Stock Exchange guessing with his man
ipulation of Big Four railway or Pan
handle shares q year and more ago, has
fled a voluntary petition in bankruptcy
in the New Jersey courts showing liza
bilities of more than 81, 000.0 900. with no
assets
Mr.. Carley has been absent from Wall
street for several months. much of his
time having been spent in Europe Since
he went away various claims against
him have been brought before the courts
and his name has been mentioned IN
connection with a suit brought BY r.
Martin Black. editor of the Wall Street
Daily News, who sought to recover from
Carley Vanderbilt and others the profit
of a speculative venture in the Pan
handle shares which he said was con-
Quoted by him for Carley-
1t was generally understood on Wall
street, when the manipulation of the
Panhandle stocks were going on, that
w. w. Vanderbilt and other New York
Central interests were back OF the Car
ley operations. On this ground Mr.. Van
derbilt was made a party in the Black
suit.
PRINCIPAL CREDITORS.
The suit was filed in the United States
principal creditors follow:
Mrs +. D. Carley, borrowed money $685. SIS
1nman- Swan & Co., New York, -,
J. Kennedy Tod < Co. New York
Franz Deutsch and Caesar SchIess-
niger, London, judgment 10000
Van Shalck & Co, New York, bal
ance on contract ...---..-........... 10000
p NJ Black, New York -.--.--.--.-.- 10000
Clay City National bank, judgment,
Endorsement, notes of Kentucky,
Union railway company -----.--- S,OO0
German Security Bank. Louisville,
ky, guaranty note, Kentucky
Union Railway company -..----.-- 1880
Kentucky National bank. Louisville,
guarantee note, Kentucky Union
Railway company .----------------- 5000
MONEY ATTACHED
In addition there are about a score of
other creditors holding claims amount
ing to from $50 to S, COO
These claims against Mr.. CarIey, he
says, are the result of a, venture in the
south several years ago in which he lost
$1,000 600. While Mr.. Carley was abroad
recently one of his clerks acquainted
some Of the judgment creditors with the
fact that about $500, eco had been placed
with certain brokers for investment. Be
Heving that to be Mr.. Carley's money
these creditors began to force payment
Of the judgments. placed attachments on
the money and as a result he concluded
70 take advantage of the bankruptcy
laws in the interest OF all his creditors
Mr. Carley is 81 years of age and an
Ohioan by birth. He practiced law in
moved to Louisville. Here his active
career as a fnancier began when he be-
came affiliated with the Standard Oil
company as president of its southern
branch, and for many years he was an
important factor in that corporation.
He was also president Of the Citizens
Gas company at Louisville and preSi-
dent of the board of trade.
RUINOUS RAILROAD VENTURE
In 1895 Mr.. Carley came to New York
ana at once took a prominent place in
financial circles He became head CT the
brokerage firm of CRrley, Stokes & Co.,
which has since beeome the firm of F.
D. Carley & Co In 1890 Mr.. Carley be-
gan the building of the Kentucky Union
railroad. A large portion of it had to
be cut through gravel and sand land,
and there were frequent cave-ins, which
each time caused the loss of thousands
Of dollars After having dropped a for
tune in the road, Mr.. Carley gave it up
and returned to New York
Mr.. Carley, in an interview, blames
, certain Wall street men for forcing him
in financial matters and says he will
soon make an expose. His petition in
bankruptcy has been referred to Com
missioner Frederick W. Leonard, of
Trenton.