The San Francisco call., 1904-03-04
LEGACY FALLS
TO CREDITORS
Mellen L. Doe Delays Filing
of a Bankruptcy Petition
and So Sacrifices $4,000
FAILS IN SPECULATIONS
Total Indebtedness Placed
at S130,625, of Which the
Bulk Is for Borrowed Coin

Mellen L. Doe, formerly a member
of the firm of Charles F. Doe & Co.
of this city, filed a petition in bank
ruptcy in the United States District
Court yesterday. The Indebtedness
amounts to $13O,625 IL, of which
$11.725 is interest on borrowed money.
Among the assets is $4,000, the esti-
mated value of legacy to Mellen F.
Doe by will of the late Charles F.
Doe. The largest creditors are Mel
len F. Does brothers, F. P. Doe. in
the amount of 1,713. and c. w. Doe,
for $2S,oS0. The petition was filed by
Attorney Bert Schlesinger.
Five years ago the interest of Mel
len F. Doe was bought out by the
other members of the firm of Charles
F. Doe & Co. MeHen L. Doe was en-
gagged in speculating in various ways
and this is alleged to have led to the
dissolution of partnership. Mellen l..
Doe is a nephew of Bartlett and ]. S.
Doe, who have been noted for con-
servat've business methods. Since he
retired from business, Mellen has re-
sided at Monterey and has not been
very actively engaged.
TIE indebtedness that is included
in the schedule filed yesterday with
the petition in bankruptcy is old. and
consists principally of borrowed
money. The notes evidencing most
of the debt have been renewed from
time to time. Among the debts was
one for margins on stocks purchased
by broker. Some time ago an offer
was made by Mellen L. Does attorney
for settlement of this claim. The
proposition was not accepted. Friends
of Mellen L. Doe say that this refusal
might have been due to a belief that
family pride would be too strong to
permit Mellen L. Doe to come into
court as a voluntary bankrupt; that
other members of the family would
prevent it.
Mellen l. Doe has. however, disap-
pointed this expectation, if it ever
really existed. Had the petition in
bankruptcy been filed on the day be-
fore Charles F. Doe died, the legacy
of s40,o 900 would not have been in
cluded in the assets and Mellen L.
Doe would have been cleared of his
indebtedness. The estimate of the
value of the legacy is based on the
fact that Mellen l.. Doe inherited by
the will of Charles F. Doe two per
cent of an estate that is worth about
81, 600, 600. OF this share one per
cent is payable at once and the other
one per cent, or $4,000, at the dis
cretion of the trustees. 1t was said
yesterday that by sacrificing his leg
acy to his creditors. Mellen L. Doe will
have little left.
Unfortunate speculations supply the
sole explanation for Mellen L. Does
failure. He was concerned in mining
stocks and also in Eastern invest
ments. In addition to the creditors
named in the foregoing, the schedule
discloses that there is owing to J. E.,
w. H. and J. c. Adams S5257. The
Adamses are the owners of the Adams
building on Sutter street. There is
due to j. B. Bocarde $3.50, to j.
Knowland $4S60, f. Kittredge 6, Co.
1856; F. NJ. Smith of Elmhurst, 1852;
S. H. Smith of Monterey, $1100; NJ.
Lewis, $500; Mutual Life Insurance
Company. 1886; Phoenix Mutual Life
Insurance Company, $500; D. Roder-
ick of Monterey, s40S0; NJ. Marks,
$1092; and to l.. Kaufman and j. r.
Smith, 500 in total.