New-York tribune., 1903-08-08
COWAN HAD SOLD OUT.
Broker Accused of Keeping $4,000
Was to TraUeI an France.
aF1D FOR EXAMINATION MONDAY.

,,, f-ou.sp the young broker who was
- - 7-hursday evening on the charge of
.,,s ,o-oerz was held by Magistrate Ommen,
-r.,bs court. yesterday. for examination
=" - He gave bail in $4,000 for his ap-
,a.-.,,e then. He was held on short affidavit
q - blanche H. Smith. of Milwaukee, ac-
-. him; Of Withholding So3,o0O which had
baan deposited with the nrHl o. '0s.eP" co"aii
ero The prisoner was cool. ae was oreSseu
- wore large diamond.
las 81. N. Earring was counsel for Cowan-
"a l-rossnan appeared for Mrs. Smith. AS
80. I,istrict Attorney Kresel was prosecutor.
~s,onrrmeut 10 Monday was at MT Earring
.,sst. Mr Earring said;
,saI a mistake. The charge that my client
Withheld $50 oo2 is prepost@eIoG @ ,a+ter n fbis com
laiasnt has had any dealings Win the mItn II Was @
t G5afles fst Mf5s smith vas living Fort Nc
Henry Maryland, at the time OF tne 1rasac "a nc &
ted on margins The better class OF railroad Sc
,frities was secured.
Conan would not discuss the case in detail,
,,r+ said: This thing came me like thun-
6erstorn-Iike one Of those hurricanes they
have in Paterson, near where live
Cowan admitted in court that he had SOLD out
his business on August to Edward Slease
broker. The other partner. he said, was Will
lam NJ Benerman, who is a member OF the Con
solidated and Produce exchanges.
II was said in court that Cowan purchased
tickets recently for the Kronprinz Wilhelm.
which sails next Tuesday. He had intended
taking an automobile trip through France for
,bree months with his wife and friend.
Asked if he would postpone the trip, he said;
.,Oh, well. I'm going TO take 1t, just the same
II may be a week from Tuesday, but We VIII
sail ali right"
At his Office yesterday afternoon Mr.. Earring.
Cowan's attorney. said:
We all know about the people who are behind
this one of them came TO me at my Office some
time ago. They are trying to biackmail my client,
ne M mover in this thing is an empioye who was
discharged by the firm some time ago He has has
ne came 10 US We thought tnat IL was Impossible
nearly a year TRYING 10 lind some one of Mr..
Cogan's clients who could be induced to bring ac-
ron, and it is only now that he has found some
one. He made trouble for my client in the Con-
solidated exchange All the books were examined, @
sure shall have difficulty in proving that
xbout lis a biacka @ GSS fheTe are several people in
s. one is the discharged employe mentioned, and
by man who claims 70 belong to one OF the 6ig
hut as said we didn't paw any attention to them.
No won't mention any names. but going to
t5ey be SICK BEFORE they get through Ny client
has been held without any proof or warrant and l
am sure he viii be discharged when the case
comes up
Mr.. Cowans father. who keeps restaurant
on the twenty-third floor Of the American Tract
Society Building. also expressed confidence in
his sons ability to meet the case, saying:
Ny son has had remarkable success. and 1t is
tirely due to his indefatigable industry. His
great ambition has been TO get a seat on the big
exchange, and he intended TO do so when he re-
turned from the three months trip TO Europe
which he had been planning. That was why he
sold out his business. He has always had eX-
celent reputation. and have doubt that he will
be able to get the seat when he gets back. This
suit--well, it's scheme of that who dis
charged. in the first place. The woman probably
lost her money as other spectators do. / don't
know anything about what her relations with my
sons firm were except that she did business
through the Baltimore branch; but you know how
II is with women They almost always squeal when
they get caught Some brokers won't have them IN
their Offices at all Ny viii come out all right.