New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-11
N"BARGAIN@ CIRCULARS
american Finance and Morfgogs
Com anyS Methods Told or

ne adjourned hearing in the American Finance
and Mortgage Company proceedings was bel5 ,-ee-
terday. in tho Office - the referee John T -rov-,
Fend. No 8 Cedar-st. Al tho previous hearing De
tective Sergeant W. !. Clark 81 INSPECTOR NJ
Cluslys stan told % the eviction 81 tho cor,pa7y
from its offices 40 WaT-st ana $40 -.
OF its papers last July
Dispositions made in February ia Cincinnati i,
W. = Lyons. the conpsry's agent IN that cit,-.
by Edward N. Springer an architect OF Cincir-
natl customer who lost s. 200 he alleges and h,.
EdEsr r Murphy another Cincinnati customer.
who alleges he lost nearly $50 were received re-
Gently and were before the referee Springer al
legcs that through Lyons he sent 70 she cornpar,-
Tor investment rernittances OF from 500 20 s9aa
that no part was repaid him. that he had CORE
epondence with Wv. r. Myer." tho alias d was
shown at tho previous hearing of William d.
Schsefer. yice-presideut 81 the concern. and that
he springer knew n more than $500 he should
have received in profits alone in Rock Island
Brooklyn Rapid Transit and corn" if his remit
tances had really been Invested
The Springer deposition includes copies OF .Spp-
csl Bargain Deals" second Special Corn Trans
sections" Special Corn Bargain" etc part q
the latter reads. As security for your investment
you VIII have: First. The corn which is nun
chased Second. We viii purchase each day we
are holding corn what is termed puts against
our holdinEs These puts give the privilege %
putting the corn 20 the parties issuing the puts
81 the prices stipulated in other words a put Is
the same as an insurance e. o.. iu case corn should
decline are amply protected and insured.
Third. The guarantee 81 the company is backed
by It's full capital and surplus. To be explicit
you are absolutely taking risk as your original
capital can be IN no sense impaired. On the other
hand Il is reasonable TO presume you VIII double
your investment and q fair possibility OF returns
Tar greater than have stated
Yesterday Christie Cosmdes. OF the respon-
dents examined by Henry q. Qutnhv OF No
Nsssau-st. who with William II. Jackson who
elso present represents the petitioners. Cos
mdcs said he had met Myer only few times once
In Tom O. ROurkes saloon. since their meet
ing about three years ago. when they intro
duced by Mrs. Myers IN answer 10 Mr.. Quinby's
questions fosmides said he never had any business
relations with Myer any OF the named re-
the hearing. Mr. Quinby sought 70 connect the
witness with = william TT. Spencer" whose name
appears as the indorser on many checks deposited
81 the name 81 the latter fn the Eastern Trust
Company Bank COEmides said he did not know
any such person or nybody who by that
name. lie denied cashinF depOsitiug checks for
spencer or having any business with any one
connected with the American Finance and Mort
gage Company
W. J. F. kOelsch. Identified many .SnencerS
checks. drsifts and deposit slips and the sxyiiara
II spencer" Identification signature. He did not
know spencer o. ais bank introducers. Bernard
Lren & Co GOslin's examination occuriod h1lt n
ffw moments. ne dieclairned any knouledQe ~
man s.encer" cheeks, drafts and deposit slips
The hearing win be continued on March L. a,
y. M - ~