The Providence news. (Providence [R.I.]) 1891-1906, 1902-06-05
Or. Wynkoop Seeks Bankruptcy
to Offset Obligations.
BUSINESS VENTURES BLAMED.
His Assets viii Not Fool Up2 Per Cent,
but Hopes Friends VIII Extend the
Hani Of Charity.

New York, June 5.-Dr. Geradus Hilles
wynkoop. OF l2s Madison avenue. filed
Q petition in voluntary bankruptcy in
the clerks office OF the United States
district court yesterday While his LA
bilities are placed at 1882. 1864, none Of
which is secured. his assets are estimated
At s22s2
In his petition. the doctor, who Is a
member of leading clubs. says among his
the par value OF 500 each. but he does
not know what is their actual value. He
also includes among the assets sll4s which
Is due from patients. but adds that for
the last six years he has been in partner
ship with his son. DR.. Daniel w. Wynn
koop. and that these accounts are prop
erly the property OF his son, 10 whom the
nrm is indebted
HAS MANY CREDITORS
Heaviest OF the creditors Is James L..
Higginson. exceptor Of the estate OF Maris
D. Hodgson. OF 81 Wall street. who holds
the physicians notes for $780, Among
the other creditors are Matthew Rock, a
tailor OF Fifth avenue. who holds notes
for $4,000: the Wool Exchange National
Bank. judgment on a note for SIS. .439:
William Irving Clave. executor of the
estate OF George III. ID. Gillespie. judg-
ment for s14.094: c. NJ Woodbury.. OF
marlborough Ky, s91S5, which was
borrowed; Tis:any n Co. judgment for
s24S2; New York Transportation company,
$1,000 for carriage hire: McCreery & Co..
S400. and lie Boutillier & Co. s242.
One OF the members OF the Arm of Alex
ander & Green, speaking of the liabilities,
said:
MANY items on the schedule repre-
sent joint ventures OF one kind and an
other In which the doctor was interested
with others. There are others In which
he acted for other parties In speculative
affairs, and In wlIsSh he got none the best
OF II. This course has been forced on
the docto by the activity OF certain
persons who seem determined 10 make
trouble for him. and is really the end OF
q long line Of trouble OF the same kind. 7"
MILLIONAIRE NOW IN DEBT.
Fifteen years ago DR. wynkoop esti-
mated his fortune at nearly $1,000 600. He
was Interested largely I'm the National
Heating company. OF this city. and the
Boston Heating company of Boston, and
when these companies failed. I'm 1889,
he found he was almost s250.000 I'm debt.
He had reduced this TO $4,000 four years
later. when "A receiver was appointed In
supplementary proceedings. At that time
he said his life was insured for $4,000
and denied that any OF the policies had
been assigned to any one as collateral for
loans
Attributing TO his unfortunate venture
with these concerns the necessity for ask
ing TO be adtucated a bankrupt, DR. Wyn-
koop says In the last dozen years he has
paid out $4,000 In claims against the
company. For many OF these payments
he failed to get quittances. and IL Is 10
prevent these claims being rendered
against him that he has taken his present
action. He adds that II is not his pur-
pose 10 escape paying his debts. but that
if he Is declared a bankrupt he will be
enabled 10 make payments at his own
convenience. and not at the convenience
VI his creditors.