The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-12-02
LAYTON OUT OF BANK BOARD.
HESWIFE RETURNS. LEAVING HIM
PRESUMABLY IN SiNITARIUM.
Twelve Mortgages. Ag~greEatlns SsS.SOO.
on S12s.OCO Property AZ New Rochelle.
HIS Equity In which has Been Decided
Over 10 Heirs Of One Trust Estate.

NNhNN wv rAE
on s12s. G. Property az few Rochelle,
HIs Equity In which has Iscen Decided
Over 10 Heirs Of One Trust Estate.
II bankruptcy proceedings are brought
against Newt ury ID. LawtOn, the executor
of several estates whose mGnascn ent OF
those trusts is now under investigation
by lawyers representing the hcirs, II VIII
prol al ly c found hat he has few assets.
When pressed "A few weeks & for a
settlemen y Asa A. Spear. attorney Tor the
teneficiaries under the Harriet Smith Will,
MIR. Lawton decided over to Mr.. Spear all
his property in New Rochelle, known as
the Wild Cliff tract. Investigation has
shown that the Wild Cliff tract, valued at
SOS. 900, is nortra ed for SSS 800.
Twelve separate mortgages have reen
nut Ey Mr.. LawtoD upon his New hccheHe
property. One for $3.50 is held by George
. Hewlett of Mineola, a relative OF Mr., Law
tons. The others range from 5000 TO
$1,000, and are held ly various mortgage
companies and private individuals about
New Rochelle and in New York. The last
mortgage was given TO the Westchester
and Bronx Mortgage Company for 5000.
This circumference on his estate Mr.. Lawton
put on only two weeks ago
The report among the lawyers who are
seeking a settlcn ent from the New Rochelle
lawyer, to the effect that in giving up his
estate to satisfy his OF lis cations TO tie heirs
of the Harriet Smith estate MIR. Lawton
had transferred Il defective title, was found
Yesterday to he incorrect. By the Will OF
Mrs. Lawton, his mother, Lawton WAS
made joint beneficiary with his father
in all OF the property o. Wild CUE. Wit
Cyrus Lawton died his share of the title
10 the estate in New Rochelle passed by
his will to his son, Newiury, who thus Le-
came possessed Of the entire tract OF land
and the family mansion thereon.
Wild Cliff borders the SQUAD. Several
years ago Mr.. Lawton cut up u part OF the
property into lots. which he disposed OF
to good advantage. it Is said. or the oriSi-
nal estate several acres still remain in his
possession burdened by the dozen mort
cages.
The continued absence of MIR. Lawton,
despite the order issued by Surrogate Jack
son OF Nassau county commanding him to
appear before the Surrogate and give a
reckoning Of his management in the various
estates under his trust, has given rise TO
much gossip. Men of his acquaintance
said yesterday. that Mr.. Lawtpn had been
HtI IL Ol W al tAiNNA ~ ~ HhhAhNR 10 49,
past year, and that this with the yachting
expenses he has incurred has brought about
the difficulties now confronting him.
The officers of the National City Bank OF
New Rochelle said yesterday that Mr.. Law
ton had withdrawn from the board OF di-
rectors of that institution u month ago.
They declared that his resignation mad
been voluntary, but dictated by certain
e~XigenCies.
Officers OF the Lawyers Title and Guar
auty Company Of White Plains. which an
nolinced on Friday the resignation Of Mr..
Lawton from the presidency of that con-
cern, said Yesterday that such action had
been necessitated by the complications in
which MIR. Iawton has become involved in
the matter of the trusts under his direction
Mrs. LaNtop returned to her home al
Wild Cliff on Friday,
The lawyer who are seeking MIR. Lawton
learned nothing new og his whereabouts.
All that is known is that he Is outside oil
the State and taking rest in a sanitarlum
Mr.. LaNton is "A member OF three yacht
clubs. the New York Yacht Club, the Larch'
mont and the Atlantic. lie was at one time
commodore Of she Atlantic Clubs fleet
and at thai time he owned the sloop Chjpsa
He represented Cornelius vanderbilt OF
the Rainbow IN 1900. Later he became
prominent in the New York Yacht Club
being made a member of the regatta com
mittee in 1903. In the following year, wher
the thirty-foot class was promoted in thu
New York Yacht Club. Mr.. Lawton was on'
of nineteen members 10 provide himself
with a craft of this class. He had tht
BanZai built for him, at a cost OF $3.50. II
cost him about $500 a morth TO keep thu
boat in commission.