The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-10

their claims for settlement in the hands
of prominent local lawyer. and
they have been sent to the central
office of the association for collection.
W. W. Marmaduke is well known
among Washington business men. He
was for several years a railway ticket
broker. and recently has been a stock
broker The connection of President
Marmaduke with the association, in the
capacity of president. is not clear. In
the first booklets of the company the
name of its president is said 10 be Er-
nest Howard, of Baltimore, member OF
the firm of Howard Bros, grocers. a
second booklet issued few weeks ago
does not cantain the name of Mr.. How
ard, but that of w. w. Marmaduke, OF
Washington, is given as president 1t
is also stated in this pamphlet that Air.
Marmaduke is the Washington agent
of the company. Mr.. Marmaduke could
not be found yesterday or last night,
but his friends stated that ne was not
the president of the company, but only
its agent, having nothing whatever to
do with its management.
Mr.. Marmadul,e has been engaged in
the brokerage business at Sos Seventh
Street. On Monday and yesterday his
brokerage office was closed, as well as
the Office of the association, and it was
stated by a man connected with the
firm that it had suspended indefinitely.
His firm was one Of those affected by
the failure" of the bucket shop of Er-
rington & Co., of New York, last week.
The plan of the Crown Association is
very similar to that of the now defunct
Fidelity Mutual Association. also of
Baltimore, which went into the hands
of receivers a few months ago. imme-
diately after the Crown Association was
started. IT is supposed that the failure
of the Crown to fulfill its promises be-
fore even the first series of contracts
had matured is due to this circum-
stance The Fidelity Mutual had done
business in Baltimore for some time,
and had paid out a large amount of
money to subscribers on virtually the
same basis of 50 per cent interest for
their money as the Crown has been
promising Several series of contracts
had matured and been paid in full.
Then suddenly without warning the
golden stream of wealth ceased TO flow
into the pockets of the Baltimore get
rich quick public. Contracts matured
and were not paid. The investigation
which followed is alleged to have shown
that the payments made were simply
out Of the money that came in from
constantly increasing number of in
vestors." As long as new people sub
scribed freely there was no trouble in
paying up even so per cent dividends in
six months
The Crown had hardly started and be-
gun to secure subscribers when the FL
deity Mutual went back on its name.
This made the business of the Crown
lag from the first Few subscribers TO
any extent except the first and second
series have come forward, and hence
the new supply of money to replenish
the dividend payments has been lack
ing.
BALTIMORE, Md, April 9.-H. c.
Ki!.ner, Secretary of the Crown Saw
ings and Loan Association, was seen to-
night in regard to the reported failure
OF the concern to fulfill it's contracts
with Washington investors. He de-
clared that the Washington branch had
no connection with the one here now
He also said that the amount involved
did not exceed $1,000, according to his
belief