davidaulloa/AmericanStories huggingface dataset:
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1905-09-28

Obituary Record.-Tuesday afternoon
occurred the death of Johnson Pull
man. of Northeast Davenport. after Il
lingering Illness of dropsy. Mr.. Pull
man was born in Germany and is sur
vived by three children: Ernest. of
Nebraska; Adolph. of Davenport. and
a daughter. of Seattle. Wash His wife
died three years ago.
Mrs. Mary GiIlen died at her home.
Ga East Sixth street, yesterday. She
was born in County Sligo. Ireland. and
came TO New York in 1888 With he
family she came to Davenport. in 1857.
and has since made her home here.
Ludwig j. Jansen. of Omaha. Neb..
and an old resident of this city. died
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1905-09-28

Gone to ReUnior.-Maj. and Mrs. +.
b. Hayward have gone east. Mr. Hay
ward viii join his old cavalry regiment
in a reunion at Hanover, Pa. where
July .. 1868. it took part in the skir-
mish that was the preliminary TO the
battle OF Gettysburg. II is the first
time that Maj. Hayward has been on
the Old battle-ground since that day on
which was opened there one of the
greatest battles of history.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1905-09-28

Say Property is Held Back The
final meeting of creditors in the bank
Tuptcy case of Louis Dunkeiberger
was held Tuesday afternoon in the of
fee of Referee Helmick This meet
Ing WAS set for the purpose Of hearing
any opposition the creditors may have
had against the bankrupt being dis
charged. This opposition developed
quite strongly on two points. The first
of these was the fact thai the bank
rupt several days previous to his en-
terinG bankruptcy had transferred
81 $50 worth Of property TO his wife
OF this amount $3.50 had been ordered
refunded by the referee. Again. il was
claimed that in the neighborhood of
900 more of assets had been dis
covered by the creditors than was
turned in by the bankrupt.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1905-09-28

Mrs. Jaffray Oivorced.-Mrs. Lizzi
y. Janray was yesterday awarded a
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15
Operations of Munroe Brothers. the "Laun-
dry Brokers in Wall Street.
BEGAN ON CAPITAL OF Sl,6OO.OO
Before Many Months the Two Young Men Were
Dealing in Millions and Hobnobbing With
Gotharls Most Influential Men
Their Dreams of Wealth
Rudely Shattered.

had sold goods to the National City bank
With that reference there seemed to be
no doubt that the firm was financially
good" The furniture concern sent UP
$500 worth of goods, together with a
bill. Munroe & Munroe made a few
more purchases in the course of week,
raising the bill to $3.50.
The bill wasn't paid in October. Still
the furniture man didn't think it worth
while TO press such excellent GUS
toners. In November a short and very
polite reminder was sent. No answer.
And still McHugh & Co. were not wor-
ried until on December 2, along came a
collector for another firm to whom they
were also indebted, who had heard that
McHugh had trusted Munroe & Munroe;
also that things didn't look quite right
He dropped in to give a friendly little
business tip.
Joseph McHugh decided to brook the
possible wrath of the National City
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

it over to the brokers they had employed
to buy. The result was that Decem Der
z, the day of the failure, they received
checks in payment for the stock sold
the day before, and they used these
checks to pay for stock they had bought
the day before, but when it came to
their paying for the stock they bought
on December Z, they had not the money;
the endless chain broke, the Munroes
went into bankruptcy, and all these per-
sons are creditors for the stock.
Before this situation was reached,
however, the Munroes had their 6ay of
prosperity, or, rather, George did, for he
is the head and front of the combiDa-
ton, even though his brother was SEN
Tor member of the firm. When they
came here they were aggressive and en-
thusiastic young fellows, of the type
that is liked in Wall street, and they
quickly made friends. Mr.. LOOMS was
one of these, and Leach another, and
both of these are names to conjure with
in financial circles. Loomis became
chairman of the syndicate's executive
committee, and it was through his in
fuence that the loans were obtained
from the National City bank.
Reputed Millionaire.
The friendship of men like these
brought other friends to the brothers
and before long George Murroe was
reputed to be millionaire 1t is said
he lived at the rate Of from $4,000 to
100000 year, this young man who only
a little while before had been a haber-
dasher. He had luxurious home On
East Fifty-seventh street, and another
at southampton, L. l., and often he oc-
cupied a suite at the Waldorf-Astoria
A Costly Junket.
He always die things in lavish fash
ion. When Montreal & Boston was
at the height OF it's exploitation, MunrOe
thought it would be good plan to lei
those whom he was trying to interest in
1t see the actual mine property Now
it lies away off in British Columbia. or
the foothills of the Selkirks, and it costs
money to take a party out there. He
never considered the expense A pri.
waite car was chartered, loaded with
everything of the best in the commissar,
line, and the junketers started away
George could not SO, but Alexander took
charge.
The party included senators, bankers
politicians, and newspaper men-every
body, in fact, who might be Of some ai(
in advertising the mine.
They stopped at various cities on tn,
way out and had a jolly time.
Not Unlike Fiction.
The revelations in the Munroe cas-,
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

make it not unlike the story told In one
Of Emile Gaboriau's novels in which a
Partisan set of men in the sixties who
needed office furniture rented it by the
week from firm whose business it was
10 outfit people who needed sumptuous
Offices temporarily
The firm GabOriau pictured could, on
short notice, give any Office the appear
ance of glittering wealth. 1t rented out
massive desks, cashiers grills, safes and
pictures. 1t kept constantly on hand
supply of curiOs for special purposes
mineral specimens for mining COM
panies, oriental curlos for people in the
China trade, and chunks of crude rubber
for rubber companies. Such objects.
scattered carelessly about the office, gave
an air of busy industry and genuineness
to any old enterprise,
But it is not necessary to go as far as
this in these days, as it is shown in this
case that modern finance has brought
improved methods.
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

New York-"Failure in Wall Street"
This is a headline that is often seen in
Gotham dailies, but it seldom creates
much comment 1t only records the
tact that another firm has been caught
on the wrong side of the market and
forced to suspend.
But the bankruptcy proceedings re-
Gently instituted against the Munroe
brothers reveal remarkable story OF
the operations of two young men whose
only business experience before their
advent among bulls and bears had con-
sisted in the selling of collars and neck
ties in distant and virtually foreign
city. who came to New York with prac-
tically no capital and in the course OF
a few months were dealing in millions
and negotiating with some Of the most
influential fnanciers of the street,
until the inevitable crash came.
They hobnobbed with millionaires
and.some ofthe best men of the metrop-
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15
The Beginning.

Until about four years ago, George
and Alexander Munroe kept a little
haberdashery shop in st. GATHERINGS
street, Montreal. They were quite young
men and apparently devoted to their
business
1t was generally understood that they
received financial hacking from J. n
Greenshields, a prominent Canadian
broker of that city. George Munroe
married a sister of Greenshields and
through his influence the brothers were
introduced in good circles There had
always been speculation as to whether
or not the haberdashery store prospered,
but one day it was announced that the
Munroes had sold the store At this
time the mining craze was springing up
over the country, and the brothers went
down to the financial center of Montreal.
opened up an Office and put out a sign,
"Munroe & Munroe, Mining Brokers'
Move to New York.
Although they dealt in few stocks on
commission, it was generally conceded
that their chief business was the hand
ling of mining stocks in which Green
shields was interested. Even in the
mining business, however, they failed
to attract any attention in Montreal, and
not long afterward they came to New
York and established themselves on
Broad street, in the very heart of the
financial district
While in Montreal they had become
connected with the Marconi Wireless
Telegraphy company, of Canada, and, as
it was understood that the stock was
valuable, they began to advertise it ex-
tensively on their arrival here, and
worked up wonderful trade among the
Italians. who were attracted in part, no
doubt. because of their kinship of ma
tioDa&ty with the inventor.
Meantime the Munroes had also be-
come interested in the Montreal &
Boston Consolidated Copper company,
which is at the bottom of the present
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

oils and saw visions OF wealth beyond
the dreams of avarice for themselves,
but, as a shrewd veteran OF Wall street
said, "the game grew too big for them
Plan of the Brokers.
James Stillman, president of the Ma
tional City bank, describes the transac-
tions by which Munroe & Munroe, the
laundry brokers, obtained from the
bank daily loan Of $4,000 for eight
days on an unindorsed and unsecured de-
mand notes for the purpose Of washing
hundreds of thousands of shares of Mon
treal & Boston Consolidated mining
stock in the curb market, as the act of
junior officer of that institution.
That junior officer was Archibald G..
LOOMS, second vice president of the
bank and the leading member of the
Montreal and Boston underwriting syn
dicate OF course there had to be some
body upon whom the responsibility could
be placed by the public for the unusual
transactions, and the curiosity of men
on the street was satisfied when Mr..
LOOMS resigned.
1t should be said, however. that in the
transactions the bank was in no way dis
credited. The $4,000 borrowed were
paid back by Munroe & Munroe before
the close of banking hours each day, so
that the bank lost nothing.
An interesting phase of the negotia.
tons was that the Munroes, unknown
and untried youths, became close per-
sonal friends of LOOMS.
Began on Capital of $1,000.
The worldly capital of the Munroes
when they quit the genteel occupation Of
gents furnishers in Montreal to take up
even a more genteel occupation in New
York, was about $1,000.
The furniture in the Office would have
cost more than that-if it had been paid
for, and reflected great credit upon the
good taste of the gentlemen. The desks
were OF the finest and most expensive
make and the furnishings lavish. There
was a grill Of chastely ornamental iron
work which confined the cashier, and
probably kept him from absconding
with the firms heavily bonded debt
The furniture included a set Of big
easy leatherlined chairs and an impos-
ing sofa. There were other tasteful
touches about the place, and everything
suggested to the uninitiated that untold
wealth was at their command
But it was these same furnishings
that first brought the trouble that result
ed in bankruptcy proceedings.
Bankruptcy Proceedings Instituted
About October /, Munroe & Munroe
approached McHugh & Co. They want
ed a bill of goods sent up to their Broad
street Offices.
They mentioned as reference the Ma
tional City bank, the institution which
afterward lent them 500, 900 daily on
their unsecured notes. McHugh & Co.
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

bank an0 sent colectUr GOWN 10 NAun-
roe & Munroe. Why, certainly" said
that firm. obligingly, and drew at once
treal bank
McHugh & Co. deposited the check
that afternoon - December - and
thought no more of it for week AT
the end of the week back came the check
marked IN. G."
A member of the McHugh fra went
down to investigate. He found a clerk,
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

situation. After the smash in copper
two years ago, however. they had hard
row to hoe, and little was heard of
them in connection with this company.
They nevertheless kept the Marconi
stock to the front, and when there came
a revival of the demand for copper
abroad, their prospects frightened.
Lay Plans for Coup.
They reorganjzed the Montreal &
Boston, got some other properties to-
gether, and then laid plans for one of
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

the biggest stock market coups in the
history Of the curb.
A scheme was formed to have the stock
OF the company underwritten with the
special provision that the work should
be done by stock exchange firms. as
Munroe & Munroe were not members Of
the exchange. The stock was of a par
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

value Of five dollars a share, and con-
tract was entered into by which the per-
sons who were to underwrite it wer.
to get the stock at one dollar per share.
various persons went into the synGi-
cate. with the provision that they were
to take or underwrite certain number
OF shares, paying one dollar per share,
20 per cent. of the purchase price, al
the outset and the balance within GER
tain specified times.
The understanding was, however,
that those who had underwritten the
stock would not pay the one-dollar price
unless the money became necessary for
the development of the mining property
the promotion of stock sales, and so on.
That is, while they agreed to pay GER
tain amount should the exigency arise, if
1t DID not arise they would be so much
more to the good
Resort to Washing.
Brokers who were members Of the ex-
change were readily found who were
willing to dispose OF certain number of
shares month, and what they received
was to go 60 per cent to them and 40
per cent to those who had UNDERWATER
the stock in the beginning. twas then
decided that in order to sell the stock
at a price above one dollar per share,
1t would be necessary to resort to the
process known as washing
In other words, they agreed to them
selves purchase the stock at high fig
ure, in order to set that as the market
rate. Par being five dollars, and they
having obtained it at one dollar, they
arranged for street sales at $3.50
and W, themselves buying at that
rate, in order to- show that the stock
was active and to induce the public to
buy at the same price.
In point of fact, SO as to make show
ing OF large sales, those who We're sell
ing the stock were themselves bidding
on it, all the transactions being credited
on the books. 1t has been shown that
lured by this system, one outsider
bought $4,000 shares, at from ST. SO to So
In disposing of the stock, Munroe
Munroe washed about 5000 900 shares
or more in the process of getting rid OF
about 10000 shares, for which they are
said to have paid the company not more
than $4,000 in ALL The brokerage on
raising this $4,000 is more than s1O0,
GOO, because they had to pay commits
siOns on the whole 100000 shares.
How Sales Were Made.
The Munroes would give orders to Ger.
tain brokers to sell and to other brokers
to buy. When they sold they would
get check the following morning, ant
then they would use that check, turning
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

from the sheriff's Office in charge of the
place.
In the week between the delivery of
that check and its return with the two
fatal letters across its face Munroe &
Munroe had quit laundering copper
stocks and gone bust and the law had
taken possession.
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

Beautiful eyes and handsome face
are eloquent commentators. Bright
eyes are windows TO a woman heart.
HOLSTERS Rocky Mountain Tee
makes bright eyes. IS cents, Tea or
Tablets. j. IT, Bennett.
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

For subscriptions i'm advance we offer Beautiful
Maple, Cherry Stained, Highly Polished Autoharp.
81 strings, cords.
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

For subscriptions, in advance We will give Hand
somely Embossed Leatherette Music Roll
Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1905-02-15

For securing yearly Subscriptions paid in advance offer Mus
lection for piano organ entitled Musical Pictures
Los Angeles herald., 1905-04-04
Pacific Coast Trade
BY Associated Press.

SAN FRANCISCO. April 3,-Beans:
Pink, $3O0@3.5O; lima, $4.SO@5.O5; small
white. $S.2O@3.5O; large white, $4,000
$50.
Potatoes-Early Rose, $1.25@1.6O;
Oregon Burbanks, $1,10@1.4O; river
Burbanks, 75c@$1.OO; new potatoes, 2E
@3hc.
Onions-Fancy, $375; common, 1925.
Various-Green peas, 4h@6c; toma-
toes, $1.00@1.50 summer squash $l.25
@1.5O; asparagus, 5@7hc; rhubarb, 40
@75c; garlic. s@11c; Mexican tomatoes
$1.50@2.00
Flour-Family extras, $4.S0q5.5O;
bakers extras, $4.75@5,OO.
Wheat-Shipping, $15OQ1.55; milling,
$1.55@1. 671s.
$1.25Q1. 40; chevalier, $1,25@13O.
Oats-Red. $1.4GQ1,7O; white, $1.42h
al. go; black, $1.32h@1.45.
Millstuffs - Middllngs, $2650@2S.5O;
mixed feed. $24OO@25.OO; rolled barley,
Hay-Wheat. $1OOO@1sOO; wheat and
oat, SO. OOM12.O0; oat (wild), $6.00@9. 90;
oat (tame), $S.0O@1lOO; barley, $4,000
$1,000: alfalfa, S70O@l0.OO; clover, $500
d1O00: straw, 25M50c.
Receipts-Flour, l2,S67; wheat, 10.1OO;
Los Angeles herald., 1905-04-04
GENERAL FRUIT MARKET

BY Associated Press
SAN FRANCISCO, April 3.-Fruits:
Fancy apples. $500; common, 75c.
Oranges - Navels, 75c%$1.00; seed
lings, $1,0O@1.25; Mexican lines, $4,0O
@4.50.
Lemons = Common California, 75c;
fancy, $3.50.
Tropical fruits-Bananas, $1.00@250;
pineapples, $2.00@4.00.
Dried Fruit Prices
BY Associated Prass.
NEW YORK, April 3.-The market
for evaporated apples continues easy.
Common, 4@5c; prime, 5%@6c; choice,
64c; fancy, &c.
Prunes show little improvement in
tone, owing to the clearing up of de-
sirable stocks, but prices still range
from 21ac to 55sc, according to size
for California fruit. Oregons range
as high as cents.
Apricots have been offered for July
and August shipment a little more
freely and the tone is rather easier.
Choice, 101a@11c; extra choice, 11h@
121Ac; fancy, 12@15c.
Peaches were unchanged at 10010A C
for choice and 10lA@10%c for extra
choice; fancy. 111a@12Ac.
Raisins remain quiet. Loose Musca-
tells, 4h@6Ac: London layers, $1O5@
1,25; seeded raisins, 5h@6%c.
Los Angeles herald., 1905-04-04
Financial Record
BY Associated Press,

BY Associated Press.
NEW YORK. April S.-Close-Money
on call was strong, 3h@3% per cent;
closing bid and offered, per cent.
Time loans steady. Sixty and ninety
days and six months, 3h@3A per cent.
Prime mercantile paper, S%Q41s per
cent.
Sterling exchange was steady, with
actual business in bankers bills at
$4S590@4 1896 for demand and at $4.S415
Q4.S420 for 60-day bills.
Posted rates, $4,S5h and $4.861k k@4.S7,
Commercial bills, $4.SS%Q4s8B.
Bar silver, SEC.
Mexican dollars, 43c.
Bonds-Governments. firm; railroads,
irregular.
LONDON. April S.-Consols. 91%;
silver, 257sd.
ST. PETERSBURG, April 3-Prices
on the bourse today were steady. Inn
perial Russian As closed at S4%c.
Treasury Statement
BY Associated Press
WASHINGTON, April 3-Treasury
statement Available cash balance.
$142, ,26S, ,721; gold, $7O,7l5,6S7.
Los Angeles herald., 1905-04-04
The German Loan
By Associated Press.

BY Associated Press
BERLIN, April "a syndicate of
banks headed by the Reichsbank has
taken over an imperial S1s per cent
loan of $75OOO,OOO. The loan will be is
sued to the public April TO- The issue
price will be $1.01.1 if the undertaking
is given not to part with the bonds
October 10. Otherwise the price will
be $1O1.1O. The present issue of con-
soils at 31s is the first issue at this
rate since 1890, although several issues
of short per cent bonds and treasury
notes have been made at S1s and per
cent. Three per cent bonds issued IN
1904 sold at 92, but as IS were quoted
today at 91S, the government decided
that it would be better to place them
at the higher rate of interest and sell
them at 1O11. 1t is noted by COM
mentors on the Worsening of the i'm
perial credit that French IS sell at
1915. However, the total imperial debt,
including treasury notes outstanding
and the projected issue of consols is
only $685. 100000.
Los Angeles herald., 1905-04-04
ALL CALIFORNIA FRUIT
POPULAR AT HIGHER PRICES
sneoInl to The HeraId.

YORK April and three of
condition
Off
follow $26I; Truth
La $6
Trophy $3.50
Gold $2 ochinva
$254
Pointer $780, Camenca $685. La Mesa
Squirrel, S249 .-
under $500 boz The results were
Lenonsa arepo and price.
s25@
T65@330; SMALL $15@
$265@315 halves $1Od16
hves), $125dLS5; seed
S506230; tangernes (halves), $125d20
$t.S59225
S225d25O; S5cd$L15
brands they
arere in
Los Angeles herald., 1905-04-04
Chicago Live Stock
BY Associated Press.

CHICAGO, April 3-Cattle Receipts,
2S, 900; steady. Good to prime steers,
So. 4O@64O; poor to medium. $425@525;
stockers and feeders, $3.0O@5.OO; cows.
$2.75@475; heifers, $3.00@5.25; Gamers,
81 ,6O@25Oi bulls. $2.75Q425; calves,
SO. 3.OOQ675.
Hogs - Receipts today $4,000; ex-
pected tomorrow. $1,000; shade lower.
Mixed and butchers, $5.2O@5.37h good
to choice heavy, $5.30@5,42h; rough
of sales, $5,25p5.35.
Sheep-Receipts $4,000; sheep and
lambs 10@l5e lower. Good to choice
wethers, $5.75Q6.25; fair to choice
mixed, $4.5O@5OO: western sheep. $500
@625; native lambs, $5.5Oq75O; western
lambs, $66OQ725.
Los Angeles herald., 1905-04-04
Sugar and Coffee
By Associated Press.

BY Assoclateu Ffess
NEW YORK, April 3.-Sugar: Raw,
steady. Fair refining, 49sc; centrifugal
90 test, &c; molasses sugar, 4Ac. Re
fined firm; crushed, 6.S5c: powdered,
625c; granulated, 615c
The market for coffee futures closed
steady, unchanged to points lower.
Total sales, 465OO. April. 6.45Q6.5O;
May. 6.55c; September, 6.95@7 OOc; Oc-
tober, 7:OOe; December, Else; March,
:30c,
Los Angeles herald., 1905-04-04
Metal M arket
BY Associated Press.

BY Associated Press
NEW YORK, April 3.-The squeeze
in spot tin in the London market is
still in force. evidently, for that posi-
tion continues to command a premium
over futures. At the close today spot
stood at e139 los, while futures were
quoted at 9134 lis Cd. Locally. bust
ness is quiet, but the market is still
firm in sympathy with foreign fluc-
tuations and spot quotations remain at
$50. 10@30.50.
Copper was easier abroad, closing
at 96S 6s for spot and at SGT 12s cd
for futures. Locally, the market was
unchanged. Lake. $15,37h@15.50; cleo
trolytic, $15.25@15.371s; casting, $15.S71A
@15.00.
Lead was unchanged at $4.5OQ4,60 in
the local market and at e12 los in
London.
Spelter was unchanged in both mar
kets, closing at $500 in New York and
at e23 los in London.
TonoIIu iron iS unphanped