The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1903-06-12
LOSES ALL HIS MONEY.
Ex-senator MoLaurin seems 20 Havo
Bought n Gold Brick.

a special to The State from New
York says John L. McLaurin. forme,
United States senator from South Car.
olina, is In this city striving to gather
some fragments Of his Torture, (which
he declares has been shattered by the
endorsement Of notes. II he cannot
realize on the collateral given to him
as security, former Senator McLaurin
who was worth something like $780,.
200, says he will scarcely have money
enough to get back home. In his firht
to save some OF his money, Nfr. Nc.
Laurin has obtained an attachment
from Judge Clark, in tile supreme
court, for $4,000 against property
said to be owned by Frank a Umsted
or Worcester, Mass. in favor or VIII
liam Howard, IT., who held the pro
tested note. n
a certificate for l7,SO9 shares o,
stock of The Brunswick and I3irminp
ham railway has been attached. Tie
note in question was made by Mr.. Nc
Laurin On April 81 and was PAYABLE 81
The Mercantile National bank of New
York IN ore month. The note was moi
paid at maturity. NIr. McLaurin had
presented the nUte to The Guardian
trust company, which paid him tile
money. In an ailldavit Mr.. McI.au-
rim says he paid the none, To Mr..
Umsted.
Though the note in question was
Tor S2O, 200 it is said that Mr.. McLa,l-
rim is threatened with the loss Of S 100:
o0O and that several prominent poll
Gicians OF South Carolina are heavily
involved in it. James w. Osborne, a
former assistant district attorney, and
Otto Hcise, vino have been employed
as counsel by Mr.. McLaurin, are now
irving TO learn whether there arc any
prior claims upon the property given as
security by the men who obtained the
endorsement OF the former United
States senator to their paper.
Mr. McLaurin, who is staying at The
Imperial hotel, declares lie was not in
position to say the security obtained
Ny him was worthless. He feared he.
us well as other involved, would be
able to realize only Il very small. por-
tlon Of their investment. Continuing
thc former senator said: II will say:
however, that The property given us
rs security was represented as being
gilt edged and it is yet to be proven
that the representation is as Stated.
our security consisted Of five notes Of
the promoters Of the Brunswick and
birmingham railroad, given on April
II and payable one month after date.
They were endorsed by Mr.. Um-
sted. When they fell due, however,
payment was not forthcoming, and
since then myself and associates in the
transaction have been using every
means in our power TO arrive at the
cxact.yaluc Of the property.
What we have learned is not reas.
suring.""
Alr. Y msted against whose property
che attaCtfmentrW Issued ,s<oce couples
apartments in the wellington. Ac-
cording to representative Of Mr..
Umsted, the deal in which Mr.. Nc.
Laurin Is involved was a friendly one
and Mr.. Umsted was making every
effort to guarantee the amount due to
the former senator from South Caro-
lima.
Former Senator McLaurin said that
he was unable to say just how long he
would remain in New York, but that
he had been advised by counsel to stay
until something definite was done.
Legal steps will be taken in few days.
That the situation is critical was evil
denced by the fact that both Senator
McLaurin and Col. Brown were in
close consultation with Attorneys Os-
borne and Hcise at the bar associa-
tion rooms until nearly midnight
Tuesday. Col. Brown came to New
York with Mr.. McLaurin several days
ago.