The St. Louis Republic., 1900-11-18
MORE TRUST FUNDS
ARE MISDIRECTEp,
Prominent Business Man and
Churchman of Paterson Is
Seriously Accused.
PUBLISHING ALSO LOST.
Cornelius Fl. Stagg Confessed to
Having Used Company Cash
and Half an Estate He
Managed.
REPUBLIC SPECIAL

REPUBLIC SPECIAL
New York. Nov. 17.-Just as the city Of
Paterson. n. j., was forgetting the revela-
tions which followed the death Of Jennie
Bosschieter. another scandal. involving the
disgrace OF man who has stood high in
the community for years, has come to light
A vestryman in St. Pauls Episcopal
Church. the secretary of the Press Printing
and Publishing Company. Of which Secre-
tary Of State Werts is the president End
largest stockholder. Cornelius II. Stagg was
esteemed as citizen of sterling worth. Yet
he is accused of having proved false to his
trust-not only of having appropriated
money Of the company in which he was the
confidential man. but OF having taken for
his own use almost half Of the estate of
his grandfather, of which he was one of the
two executors.
Stages alleged regulations have extended
over a period of more than a quarter OF
century. and are said to amount in the as
gregate to $4,000. A portion of this amount,
MIR. Werts said tonight. VIII be recovered
Stagg speculated in Wall street and met
time he had to his credit a very large
bled him to make good" to the company
had he been SO disposed.
When his grandfather. Cornelius Post.
died. about ten years ago, he left an estate
valued at about $4,000. To Stasg a few
of the estate was left to the testator's son.
Henry stagg, and to David Benson, a rela-
StnEg Kept Accounts.
Knowing little about accounts. Benson
left the management of the estate to Stagg,
but about four months ago he dtscoyered
should have deposited in bank was not
there. He employed lawyers. an accounting
was had and then Stagg confessed that he
had been appr0priating to his own use the
earnings of the estate He broke down and
begged for mercy. offering to surrender his
last cent in restitution.
He agreed to transfer to Benson his
house in Paterson. To this his wife agreed.
and the deed of transfer was filed on Au-
gust TO- Then 1t was found that the house,
which was valued at s12Gop, was mortgaged
for $500. But Stags declared he would
refund the full amount OF the shortage In
time. and Benson consented. All this could
not. Of course, he kept secret.
One of the first men to hear Of 1t was
George Chiswell. the treasurer of the pub
lisning company: He Is relative rel Of stass's
close watch was kept on the secretary's
doirgs. About a month ago an expert ac-
countant was put at work on Stages
he has not been seen in the Office since.
Completely Broken ia spirit.
All Paterson was soon talking about his
downfall. The members of st. Paurs
Church heard Of it and demand was made
on Stagg for his resignation as vestryman.
He forwarded it promptly,
Ildu sippti lIiis NouiN MY SET ihto
print" said MIR. Werts this morning. 'It Is
too bad for old stagg. All his friends are
very sorry for the old man. who IS penniiess
in the evening of his life. He did Just what
has been done often Ltely--took what
money he wanted and falsified his books to
conceal the shortage. There must be some
thing radically wrong with our code of
ethics in these closing days Of the Nine
teerth Century. l never heard of so many
embezzlements and defalcations in my life"
Stagg was at his home tonight. but would
receive no visitors. He will not be prose-
c,ited