New-York tribune., 1905-01-05
TO INVESTIGATE NOTES,
Evidence Expected at Hearing
about Manroe 6 Munroe Paper.

Cameron Spear. of Philadelphia was the first
witness yesterday at the Munroe & Munroe bank
ruptcy examination before United States Commis-
sioner Alexander He said that A. s Spear was
his sister. Allie s. Spear. He denied that either he
his sister had any interest in the firm Of II. P.
Ward & Co. He was engaged a salary, with
commission certain business which he brought
to the firm. he said.
did you have any dealings with Tom Henry
IN connection with Montreal and Boston?" he
asked.
I sent him to the office of Mr.. Boese to get
some stock"
Did you have any relations with any other
brokers' in connection with Montreal and Boston?'
Here the witness appealed to the Commissioner
de said the questions had to do with his personal
affairs He told that if they were in relation
10 Montreal and Boston stock he must answer.
MT Spear then named the firm OF j. S. Bache &
20 and man named Renhart as being the only
persons with whom he had had dealings in Mon
treal and Boston stock
MT spear denied that he had ever had any deal
IlsS with the American Finance Company, and
finger Bliss & Co
MT Untermyer asked the witness if he had not
peeh arrested in connection with a transaction
with o. {. MccauIey. s. ]. Moen and others
reIuse to answer" replied Mr.. Spear
On the ground that it will degrade you?'
You can put it that way"
Did you ever hear of the Cameron Carriage
Company
4eS
Didn't you get away with about $4,000 of the
creditors money!"
II don't think the firm owed a dollar rot
away with money
Who were the partners with you?"
Il decline TO answer"
Because It will incriminate and degrade your
yes"
Did you know A J Gosn7"
NO I met him."
Again the witness appealed to the commissioner
when Mr.. Untermyer asked the witness about the
and Boston stock. which Mr. Untermyer said con-
st!t1ted !ilIz 80 per cent of the FIRMS business
persisted Mr.. Spear.
stock that our clients own and want" said Mr..
Mr.. Spear finally admitted that he got 10 per cent
on the sales as commissions. and also that he was
Interested in the underwriting Of Ward & Co in
Ward & COS $1,000 Of the UNDERWRITING S-''''' q
Ward & Co. trade inf'
over 100000 shares
Il shouldn't think so"
Ward & Co. advertised this stock and made the
'--''i Il do don't TtOi Know VtSS'
Munroe on December s. the day following the
failure. He thought that he got ten thousand
cheek for $1,000 or $500. signed by y J. 5 Bsehe
For ten thousand shares?'
Yes. got the stock about o'clock I gave
him another check the same day. 1 forget the
Was it Baehe & Co.'S check?"
Yes"
You would get a check each day from Bache &
Co.. wouldn't your
Yes"
For stock they had sold for you?"
Yes"
The witness admitted that Bache & Co. in pay
ing him for Montreal and Boston stock before they
had delivered il to the buyer had departed from
the usual custom.
An adjournment was taken until to-day. when
the witness was instructed to return at o'clock
with his books and papers and the books of F. P.
Ward & Co.
1t is said that at early day evidence will be
presented from the books of Munroe & Munroe to
show that for the eight business days immedi-
ately preceding the firms failure the National City
Bank lent MunrOe & MunrOe on unndorsed demand
notes S6ODD daily. These notes. 1t is reported were
signed 'Munroe Munroe," and were drawn soon
after the banks opening and cancelled little be-
fore the bank closed for the day With these
funds. IL is alleged, Mu & Munroe were ena-
bied to carry their large transactions in Mon
treal and Boston stock An attempt will be made
10 investigate the facts connected with these
notes.