Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-05-24
John {. Cotter Claims He
Has Sunk His Fortune
In the Metropolitan Stock Ex.
change Of Boston.
Now Sues Owners 10 Recoyer.-Been Specu-
Iating About Ten Years.

|
| merly well-knOwn politician in
| brighton and prominently identified
| with various fraternal and social or
CARNATIONS, yesterday, brought suit in
| the superior court against the Metro
| politan Stock Exchange, Joseph j.
| Flanagan, John V. Flanagan and John
J. Quinlan, to recover s125.OOO damages
arising from alleged stock transac-
| lions.
He alleges that he has lost 800 900 in
~ years and now seeks to reimburse
himself and will ask jury to assess
the damages. The writ is returnable
the first Monday in July.
Taking advantage of the statute al
| lowing recovery for moneys lost on
| margins, the former treasurer of the
Republican city committee of Boston
seeks to regain possession Of the for
! tune he suffered to slip through his
hands. Cotter bases mis- suit on the
ground that the tranactiOns were illeg-
al and that the statutes permits a re-
| covery from the brokers with whom
he dealt.
In every transaction he is alleged to
| have had with the defendants during
the past decade he has put up rela-
lively small amOuts. but loss after loss
he alleges resulted i'm the wiping out
OF TIE entire fortune he once possessed.
1t is understood that day after day
he had dealings with the Metropolitan
Exchange during intervals of extended
duration, and then again at other peri
DDS ne did not speculate 50 often. Dol
lar after dollar went in an effort to re-
deem what he had lost.
Not until he files his declaration on
the first Monday in July will Il full
story of his dealings with the exchange
he known, and only trial will disclo.-
the minute details. He played the
game until he could play no more. but
he did not conclude to lean on the
strong arm of the law in his effort to
square matters with those whom he
alleges benefited until he conceived the
notion that he had not been accorded
fair treatment. He has retained Geo.
Stanley Harvey as his attorney.
John f. Cottcr was born in ROXbury.
June "A, 1850, and was educated in the
p,lhlic schools. He has beer an active
member Of the Ancient and Honorable
artillery company since $50, and is A.
so Il member of the Boston Athletic AS
ISOLATION, Faneuil Improvement Assoc
citation and Union League of Brighton.
He was formerly in the hat business
being president and treasurer of Mari
ner Il Co. In 1923 he was treasurer of
the Republican city committee. and in
those years he was an unsuccessful can
didatc for the Republican aldermai!it
nomination. lie lives in Winthrop.
j. J. Quinlan. one of tho defendants
named by John f. Cotter in his suit for
1925 $50 damages against the Metropoli
tan Stock Exchange, was seen. last
night. at his kilby street office and ASK
ed 10 give his side of the case.
He prof"ssrd to have no concern about
the matter. and to believe that tn,
plairtiff was seeking notoriety and
nawsr aDcr fame. He said he did not
know Mr.. Cotter and he thought it
strange for him 10 brin., suit for S12I,-
600 damages.
As far as he knew anything about the
plaintiff. he said. he was 9 clerk in 4
business house at S15. or ut most $1S a
week. and to say that he had lost any
thing like 100000 was absurd.
In reply to n question as to whether
Mr. Cotter was one of his customers.
he replied that he did not know. He
might have been 4 customer in one Of
the branches Of the exchange, but if
he was it was in small way and as
a dealer in 10 or % shares at a time. He
did not know of tOttnrS name being on
the books of the exchange, and if he
were heavy trader he would be famil-
Jar with his name.
Mr.. Quinlan declared that the snit
was brought simply 20 create a sen.';l-
| ton and was suggested by the notorirty
given to the suits against the Haight
| d FreesC Co.
| He was asked to give a written state
meat of his side of the case. which, it
was explained, might he more salts
| factory to him. but refused saying that
the case did not concern the public. AMI
ne did net see why any statement
should come from him.