New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-06
FRANK B. POOR ARRESTED
TAKEN IN SEATTLE.
Warrant Issued Here Charging
Flight 5Cith Bonds.

Seattle Nov 5-Frank B. Poor president Of
the Citizens Light and Power Company. recent
ly organized rival OF company OF the same
name which was incorporated in New-Jersey.
was arrested to-day on bench warrant issued
from the Court OF General Sessions Of New
York, charging him with grand larceny IN the
first degree. The specific charge is that while
partner in the banking house OF Marquand &
Co, OF New-York. he appropriated to his own
use nine $1,000 Iron Mountain mortgage bonds
and subsequently fed. coming here. He is said
to have taken the bonds June 26 1901. An
Indictment by the grand jury was obtained on
October % last. His bond was fixed at 81, 600
and the hearing for November 10. Bail was
furnished promptly. He says that the arrest is
for spite
The Citizens Light Company Of which Poor
is president is a selling company that obtains
all its gas from the Seattle Gas and Electric
Company and also uses that company's mains
It sells gas at a much less rate than its parent
company. in competition with the other Citizens
company. doing business here under a New-Jer-
sey charter.
The arrest of Poor recalls the failure In June
1907. OF the Stock Exchange firm OF Henry Mar
quand & Co. Poor being the company.
This failure carried down the Seventh National
Bank which had overcertifed the firms account
TO the extent OF 81 500 0D0.
William H KimbaIl. the president OF the bank.
and GamaIeI W. Rose it's paying teller. after
ward pleaded guilty to indictment charging them
with violating the national banking laws BY the
GENERALIZATION Of checks.
Marquand & Co. IN addition 70 their stock
brokerage business interested in placing bonds
of various corporations. among them the PtttsbUrg.
Shawmut and Western Railroad. the Gas and Flee
trio Company of Bergen County, y. j.. and many
other industrial corporations
District Attorney Jerome said last night:
Il understand that Poor is alleged to have taken
$4,000 worth of bonds which were deposit with
the firm of Marquand Co. They were part Of a
trust estate of infants. and taken during
the time the firm in trouble That is all
know about it"
Ex-Judge William VI. X Olcott. Of the firm Of
RIack Olcott Gruber & Bonynge who was counsel
for Poor during his troubles in this city said last
night that the firm was no longer Mir. Poor's
counsel.
This Is the first know Of this" said he when
the reporter spoke about POor's arrest in Seattle
I am very sorry hear Of it, he continued for
7 thought that Young mans troubles were over"
MI Olcott was informed then that Poor had said
in Seattle that his arrest was the result OF spite
work
THAT is possible he said. 1T might be that
some persons having lost money in Poor's firm. are
digging ND an old story to get even. do not know
however, nor have 1 any idea OF the of MI
PoOr's present difficulty.
Henry w Taft who counsel for Marquand
& Co at the time OF the failure. declared last
night that he knew nothing about the appropriation
OF bonds by Mr. Poor. He could not tell whether
the concern had any Iron Mountain bonds at that
time He was much surprised that Poor had been
arrested.
HIS CAREER IN HACKENSACK
Hackensack " j. Nov 5.-Frank B. Poor was
son of the late Edward E Poor. OF worth-st
New-York who also president OF the Ma
tonal Park Bank. Frank b. Poor organized the
Hackensack Trust Company He consolidated all
the electric lighting and gas lighting concerns in
Bergen County. He organized ice company
which nut Up a $1,000 plant He originated the
Hackensack Golf Club. He was president OF the
E5ackensack Board Of Trade from it's inception. He
bought large tracts Of land in Hackensack and de-
veIoped them. He erected and presented two band
stands 20 the town. and caused the Susquehanna
Railroad to erect a station
With the exception Of the ice company. all his
ventures in and around Hackensack were success
tuI The ice plant failed 70 pay. The machinery
however was sold and the building used for other
purposes and the stockholders. 1t is said came
out whole. When the house Of Marduand & Co
went down MI Poor lost everything He owned
two handsome houses here and they were sold
One of them Is now used a Catholic school Az
ter the crash he went to Connecticut. Later his
wife headed grocery nrrn. OF which he the
manager.
some six months ago Mr.. POOR went to Seattle
news of his arrest was received here with sur
prise, IL was supposed that all questions
arising from the failure OF Maryland & co. had
been settled.