New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-05-04
WOODEND SURRENDERS.
III LOST BACKING PATTI.
Denies ~Bucketing At Liberty
Under s4.70O Bal.

= and broker charged with grand larceny, re-
,,rned 10 the city yesterday al noon and eur
-.,5ered himself 70 the District Attorney. Last
fgr- he declared that he was absolutely with
a-t cent and his wt1e's fortune was serious
~ i-,pa.red but with youth and strength he
--or1a be able TO remedy that condition. He de-
,7,e5 absolutely that his firm "bucketed" orders.
As 10 The charges hanging over him, he did not
fear them he said. His wife says she agrees
with him entirely.
We may 90 70 housekeeping on a smaller
scale" she said. and II may be that I'll go TO
work I'm young and healthy. you know. But
I'm certain that my husband never did a dis
honorable thing. and the court proceedings viii
vindicate him
The bankrupt broker takes on himself the en-
tire responsibility for the tangls Of his affairs.
He wants II distinctly understood, he reiteraIes
that he ran the business. and whatever hap
pened was due 10 him, and his associates should
receive 10 criticism.
The reports Of his embarrassment are greatly
exaggerated, Dr. Woodend declared. estimating
that his liabilities viii be under 100000. AS 10
the future. he has made no plans. but he doesn't
intend 70 give up the ghost because Of a little
setback
THE LARCENY CHARGE.
DR.. woodend learned on Sunday that war
rant had been issued on the charge Of Edwin H
Goodwyu. Of Petersburg. Va. specifying grand
larceny ira The retention Of some $500. DR..
Woodend Immediately communicated with
James Harold Warner. his counsel, telling him
10 make arrangements with The District Attor-
uey's Once for surrender. Diplomatic relations
We're opened. and yesterday DR. Woodeud re-
turned To his home. at No IS West Seventy
frsr-sr. He telephored 10 his LAWYER who IN.
formed the District Attorney. whereupon Detecs
tive Sergeant Mcknight went uptown and ar
rested the broker 10 forestau proceedings in
civil suits.
Dr. Noo5end was taken TO the Tombs polio.
court ard srrsigned before Ma gistrate Whitman
The bail was fixed al 5000 cash. a hitch arose,
however. Mr. y arner found ne could collect
cuCe tie bill 10 that amount. He held the
broker for examination tomorrow afternoon
l-asI night Dr.. NOOdend talked with seeming
fraDkness OF whatever Of his affairs viii not
he ventilated IN court. As 10 them, he SAYS he
VIII tell willingly whatever may be asked Of him
by the examiner
Well. suppose you want 70 know where I've
been, laughed the returned broker 4
with my brother-in-law, James Watson Howard,
~ his place at NapanOck, y y I've been
driving around, enjoying myself and resting up
for the ordeal I knew was ahead OF me. I Went
last Thursday at noon, and didn't take any
CAP across the Fort Lee Ferry, neither have
been Good Ground. Red Bank, Rochester
Seattle or any Of the various other places where
they've located ne. l went on the advice OF
my physician. my family and some Of my
friends, who knew that I'd been under e great
strain for the last three or four months, and
had another one coming.
7 consider the Patti tour the primary cause
Of my collapse. I went into that through sentt-
Tnent, suppose I has the money. When Rob
ert Grau, one Of my customers came 10
considered him the legitimate successor Of his
brother and backed him. Then when the tour
went 10 the bad l sunk more money trying to
save what ! c put in Il first In all. I suppose,
! lost $4,000 in that. This was much exagger-
ated by my competitors who said II was any
where from $4,000 10 $3.50, 900. That affected
my credit
I wasn't pinched Immediately. but the mar
ket was poor at that time, and things weren't
Cornlng my way. I did all could. There we're
plans for reorganization. 7 myself never sub
united plan, but one came 70 mel won't say
from Whom On The strength OF that the bus
iness was continued longer than I desired.
acted IN perfect good faith up TO the last mo-
1uent. 7 took every means 10 safeguard my
creditors. Finally I saw that my friends would
not come up with the money for this reorgan-
ization. and on Wednesday I knew IL was i'm
reorganization, because I could get no assur-
ance thar ne people had the money. I was not
PETER that Il 90 TO the creditors"
DENIES "BUCKETING" CHARGE.
It has been pretty freely declared that your
concern bucketed orders, Dr.. Woodend. Did you
know neither this was doue2" was asked.
i have never been called before the COnsoli-
dated Exchange on charges said the bankrupl
broker with spirit I've been doing business
for three years and in that time have been
pretty thoroughly investigated. The representa-
lives Of the exchange have been in my Office
!
say they have never found anything irregular
there"
While DR.. woodend will not say anything
against his employees. lawyers who are investi-
eating the case say his associations We're IN
fortunate Charles @ Cannon, his former man
ger. and W Grant Foage VINO used 10 he his
csshier. after leaving him. went 80 Arthur H
rage q Co. who failed a couple Of months ago
and are now with Longey. Hale & CO. r. ..
heard, had been with The W r Vermilva con
Germ. He also learned that Harry Brown. who
acted as his manager al the branch in the
-leropols, has as MS right name Harry Cohen
- which was attached police record Nj
Brown-Coheu and Dr.. WO0derd differed as 70
me ownership Of certain money. whereI1pou the
e-lD'nye became scarce
On the relations between the Hedden-Rodes
Fompa ny, q Milwaukee, and the Woodend con-
csrn, Dr. Wcodend would not talk That would
al come out IN court. he ventured. Norman
7. Marsh counsel for M. GOODWIN is certain &c
80 III, il he has 70 obtain special order for the
. ANIMATION ABRAHAM Gruber. the receiver
also opines il VIII come cut Mrs W0oderd her
husband SAID. owned one-hfth OF the capital
stock Of the Milwaukee concern. He did not
know Of the charges Mr.. Bradbury, Of that con-
oer2. had made against him. He would reply
- them no further than 10 say that 5Ir. Brad
DRY would have an excellent case against him
i he could sustain the charges
II Z" oooenc mas mad many ups and downs IN
his career IN the Street At one time ne was in
80 % almost everybody, particularly TO wagon
makers and harness dealers Some OF these ac-
cunts mad been charged off 10 profit and loss
T. = me broker paid them all with g per cent in
Terest, and last June had afoi,r S3O6 600 IN, mo
l pehk, with only 10000 outstanding debts BY
Feoruary Of this year however thar cor5irioI,
= -eo-- changed The extent of his business
,S sL4~n oy Jhe fact that his deposits in the
-,.-.s 90 national Bank from April { 20 81
amounted 10 more thar $4,000
- -l@tys smile O erspread the face Of Abra-
nam Grgoer when he learned that DR.. TVoodend
the jug. remarked the lt,le racaiy,r -I -
GOO. i VIII nave him served with a sub
Iu-l-@ - one. ana have him examined to-rnor-
row y ne via only talk out We viii get All
me Information We want. His presence ought