The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-01-05

issued monthly answering the inquiries
OF anxious seekers after wireless tee-
graph stock. Gradually the circulation
OF the Bulletin, which was sent free. be-
came 90 great that the firm decided TO
launch moro ambitious magazine. II
was also intended to desert the brokerage
business for the publishing business, just
as soon az the washing was done on VI.
q b. In anticipation the Munroe Publish
ing company was organized reCenl ~.
stan had been engaged and there were
reports that Rupert Hughes, the play
wright, would be at its head The hunToe
md7dElne was 10 be issued on Dec. 20, but
Two weeks before that time the clothes
Inc broke. In the proofs for the mn gazine
mat was to be issued, it ia said, IL story
by no less illustrious o contributor than
LORD Curzon, Niceroy OF India II was given
out by the firm that Il expect ed TO make
at least $4,000 year out of the magazine.
In the bankruptcy proceedings Quincy
Ward Boese, the secretary treasurer and
counsel Of the underwriting syndicate
which agreed 10 take 1000 shares Of the
M. b. stock at 81 a share. has testified
that he bought stock regularly for Munroe
a Munroe during the thirty days imme-
diately preceding the failure OF the firm
on Dec. 7. He did this, he said, as matter
OF accommodation To George II. MunToe.
the head of the firm. not knowing that he
was buying the syndcate's own stock,
although he knew that Munroe x Munroe
we're themselves members of the syndi
cate and had a contract with the syndicate
to market livestock IN
Yesterday another mend D. OF tho TN.
derwriting syndicate-the syndicate Of
which Archibald G.. LOOMS. second vice
president Of the National City Bank. is
member, and OF whose executive committee
he II chairman-admitted on the witness
stand before Commissioner Alexander that
he had sold for Muuroe n Munroe during
the same period large number OF shares
Ha EllSD victim Of circumstances
He had no idea that Munroe 4 Munroe
were operating on both sides OF the mar
ket he knew what wash sales were. but
he didn't think that Munroe q Munroe's
transactions transactions In which there
had occurred actual transfers OF stock
should be regarded as such.
This witness was Cameron Spear. gen
eral manager" of + T. Ward 4 Co.-that is,
he is Cameron Spear, II you take his word
for It, From the que-to MS asked by Samuel
Untermyer. counsel for the receiver, there
appeared TO bo some confusion In the coun-
sells mind on this point F. p. Ward 4 Co,
who have Offices at lis Broadway, were
one OF the firms which, prior 70 the failure
of Munroe Il Munroc advertised the stock
widely, offering TO accept 1t at any time
within thirty days at 50.
Mr. Spear-Alr. Spear OF the underwriting
syndlcate-was very interesting witness.
He refused 10 answer a good many ques-
tions, on the ground that the answers would
tend 20 incriminate and degrade him. He
denied that he ever had any dealings with
Alfred j. Gosin.
f. P. Ward 4 Co., Mr.. Spear testified,
was incorporated about three months ago,
shortly before IL began 70 handle Montreal
and Boston Consolidated to any extent.
Before that II had existed under the same
name as firm in Pittsburg. II didn't
open an Office in New York until about
three months ago. 1t has ono now. in
Pttsburg and another in Philadelphia.
Mr. him elf tsas in the Dtlaixar (lfV
The only member Of the firm that he
knew when II started in business in Pitts
burg was r. p Ward Mr.. Ward was once
a newspaper man in this city, and Mr..
Spear met him at that time. Mr., Spear
had been ordered to produce the books OF
the company at Yesterdays examination;
but. not being a member OF the company,
he had no control over the books. he said.
F. p. Ward K CO. was capitalized nj Sl0OO 600,
all of which was not paid in in cash Mr.
Spears interest in the underwriting syndi-
cate was for 20 900 shares. He got this. he
said. from F p Ward & Co., who sub
scribed for 1000 shares.
Mr. Untermyer wanted 10 know II the
witness had a sister, Allie L. Spear. He
has, and she was never Interested he said,
in any wav in the F. y. Ward company.
Mr.. Cntermyer then asked the witness
whether or not he didn't know that all
transactions which he had had personally
with Munroe 4 Munroe We're in the name Of
A. IL. spear on IntlT DONh- anu iildA ANt
statements which were sent out 10 him
regularly were in the same name, He said
he didn't.
Did you ever know continued Mr..
Untermyer -of a company called the
American Finance Company Of this city,
which faied3'
IAN that know Of IT was what saw in
the papers replied the witness
Did you furnish any money TO the COM
panyY- Mr. Tnternyer asked.
No wns the answer
Counsel wanted 10 know whether Spear
had ever heard that Tom Henry was con
nec;ed with the American Finance Com
pany Spear said he hadn't He knew
Tom Henry but he WAS certain Tom wasn't
Interested in Montreal and Boston. Tom
was in the real estate business now, all
though once he had deskroOm in one Of
Ward A Co Is Offices. He was dealing In
steam heaters at that time. The witness
recalled after considerable questioning.
that he had used Tom once as an GRAND
hov in sending him to the office of Quincy
Ward Boese. secretary OF the
underwriting syndicate. 10 get some Mon
treal ana Boston stock for the firm So far
as he knew, though, that was all Tom mad
10 do With VI 4 b.
Did YOU ever hear of Norman, Spencer
& Go. Z" continued Mr. Unternyer
The witness objected. saving that the
concern referred 10 war in existence seven
or eight year- ago. He admitted that he
had been employed bY lhal cohSNiH' b"-
had never been Interested in It.
0 Did you ever know Charles Spenr7 4,
o Who Who Was Joseph p ward? A. never
heard Of him.
knew him several years ago Ia the real estate
o Who wa. stephan J Moen7 A. He was
in the bicycle business
O You we've concerned n TRANSACTIONS with
Ward NC Aucy and Aorn weren't yon: iAn-
ID N0u Osre arrested IN connection with
such tra nsa rtlors2 answer refused
O Didn't you give the name OF charles C.
Spear3 Answer refusedj
Mr.. Untermyer asked the witness whether
ne had ever heard Of the Cameron Carriage
Company, which had place Of business at