The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-01-04

with tho syndicate or anybody else that he
was to nssist In marketing the stock, al
though be admitted that George II. Munroe
had written him a letter in which u was
stated that 10000 shares OF stock in addition
TO the 10000 which he underworld had been
given 20 him in consideration OF your
giving lis all the assistance possible ana
aiding in every way you can IN the adHer-
tisement OF the enterprise OF the Montreal
and Boston Consolidated Mining and Smelt-
Ing Company, in the marketing OF the so
curities and IN becoming an underwater;
Mr.. Boese said that on the day When
Munroe i Munroe refused the deliveries
there was long conference between ne
members Of the firm and Mr. Leach and pr
Loomis in the firms Office and another that
night at the Waldorf Astoria.
The audit sheets of Munroe a Aunroe
show that from Nov. TO Dec they actually
dealt in l.770 72A shares OF the stock
They borrowed their first 10000 from
the National City Bank on Nov. p. on
that day they bought 90 200 shares amount
ing to Spa 0a9 10. and they sold 9A425 shares
for S4297.70. On the goth they bought
$1,000 shares for $27l 900 and sold 5000
FOR 1915 600 On Dec I. the day when they
refused TO accept deliveries, they bought
81 900 for s345 600 and sold 9s 100 for 23i7 900.
Previous TO Nov I. when they began 10
deal heavily in Montreal and Boston, and
for some time after that until they began
To borrow money from the bank, their
business ran from S. 900 70 $4,000 day.
When inquiry was made at the National
City Bank yesterday in regard 10 the notes,
1t was said the bank had loaned the firm
money. that it had not lost a cent hy the
transactions and that Munroe Il MIaroe
had money on deposit in tho bank on tne
day when they refused deliveries; Inc
bank did not feel at liberty TO say whether
or not Munroe i Munroe had put up any
securities with tho notes.
The next hearing in the bankruptcy
proceedings will be this afternoon. when
George II Munroe will be examined again
and proably Mr.. Spear Of +. p. Ward
Co. and Mr.. Curtis. manager OF the Munroe
4 Munroe concern. who, according to the
testimony of George II. Munroe, had Ger
tain funds Of the firm in HIS own name IN
at least one bank because he could get
better terms than the firm Mr. Leach
and Mr.. LOOMS will be examined later IN
the week.
Mr.. LOOMS. when seen last night ad-
mitted that the notes were unsecured and
unin dorsed.
They were said he. .periectly salts
factory and Il matter OF business TO the
bank
He was asked II he knew anything OF the
standing OF Munroe 4 Munroe before they
came 70 this city--that at least one member
OF the firm had been in the haberdasnery
and general mercantile business
Did you know that until you read the
testimony?' MIR Looms replied.
He was asked whether the bank ind been
deceived in It's estimate of Nlunroe d MN
roe's financial stlndiuG, and he SAID!
That's il the banks own business.
But. LIE was asked further, would any,
b. dy, eay reporter, who formed business
partnerahip be sble to 60 To the Nat"uai
City Bank and get 500. 900 on nls note?
Certainly not said Slr LOOMS. Then
he added you don't know the way hroker-
borrow money
lateral but Mr. Loomis said the reporter
had lots 70 learn about It.