The Savannah morning news., 1903-04-07
WAS A DEFAULTER
PENNELL HAD USED 100000 OF
OTHERS MONEY.
HE DIED TO PAY IT BACK.
PROVIDED IN HIS WILL THAT 1T
SHOULD BE PAID.

Pretended to Make Investments for
His Triends-Used the Principal
and Paid Interest-Carried Heavy
Life Insurance to Pay the stolen
Money Back in Case of His Death.
Had Sought an Opportunity to
Commit Suicide for Two Years.
Buffalo. N. Y, April 6.-The CONNER
cial this afternoon publishes a story, in
which it is alleged that Arthur r. Pen
nell, who was killed in an automobile
| accident on March 10, was defaulter
to the extent of from $15O.00O to 5000 900.
The story, the Commercial says, has
| leaked out as the result of legal dis
pute over two life insurance policies,
and is to the effect that Pencil induced
friends in the East who had known his
family and the family of his wife to
! place funds in his hands for invest
ment. He acted in fact, as their finan-
cial agent. He would inform them of
some good investment which he had
come across, which would pay an ex-
cellent rate of interest. and they would
send him money
The money which was sent to him for
investment, it is alleged, he spent, and
when interest payments fell due he
made the payments out of his own
pocket
T25,O0O for Mrs. Burdick.
Wallace Thayer who was Pencils
attorney and intimate friend is re-
ferred to by the paper as saying he had
suspected Irregularities, but that he had
no proof of any such wrong doing.
Incidentally it has been learned that
Pennell made provision for the pay
ment to Mrs. Edwin L. Burdick of $685.
900 out of his life insurance.
Pennell carried over 100000 life
insurance in order, the Com
mercial says, that after his
death the Eastern estates, to which
he is alleged to have been a defaulter.
might be able to recoup the losses
which they had sustained. In the will
Pencil ramed as administrator of
his estate, his brother, ]. Frederick
Pennell. He left his administrator
sealed instructions that upon the
testator's death he should make good
in full out of the estate all the losses
which had been sustained through the
testator's defalcations.
Suicide Was His Plan.
The Commercial adds that Pennell
mad contemplated suicide for two years,
and says the fact is Known shat PEN
nell two years ago tried to throw him
self in front of a train at Peekskill,
and to make it appear that his death
would have been an accident. He stop
ped off at PeekskiIl on the way from
New York, with the intention of COM
hitting suicide in that way but his
nerve failed him. Recently he told
the story of the Peekskill incident him
se!s
During the Pan American Exposition
he sought for days for an opportunity
to commit suicide in a manner that
would make it appear accidental. He
had an idea that he could be run over
in some way while at the Exposition,
but he never could nerve himself up
to the point where he could throw him
self under train or drop under the
wheels of a trolley car"
Penneu Left a Statement.
1t is now stated that interesting de-
Velopments may be looked for at the
Pennell inquest. 1t is known that Pen
nell left a last statement in defense
of himself. In it he dealt at length
with the Burdick case, with Burdick
and with his relations with Mrs Bur-
dick.
Pennell said in this statement that
Burdick was killed at midnight; that
an unknown woman killed him; he
protested his own innocence and said
he had nothing to do with the crime. |
He told of his strained relations with
Mr.. Burdick, but claimed his reIa-
lions with Mrs. Burdick were purely |
platonic.
This statement was finished by Pen |
nell the day before his death. After |
it was finished, he set to work on a |
separate statement. The first state |
ment was held pending the completion |
of the second statement. The last |
statement has not been found. 1t has |
disappeared as completely as if some /
one had burned it,