The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-11

-. s,srE gtff Wut ~ ne NauFe ~
49,. vtts rys Slayhe tet l~mgFapeftS
mo rrnSrr that m" %Hnsneisl
.., = ttsfIes T. afief who $50
.~ss,sfpnaiv IN his tnn's ~ H'a'sn
49, .. ttaoHfy mpfnina la=t Wss s'ieh ~
s,t-.s ff4mrted him ~ oomfnit s'i'e'dH
nt U. Isfrtie announcement Yesterday
- .u. sers. " thnt thefs Nefe W
ip atma ~ fhe stock hnuks
-.a. In shifh ariet represented
s.,s ~llnnHenuallv N Naa alHu
.p trst stinf had tsrn sf"eulat-
..I. f4r arvpfsi ms'nths IN cnprer
,uslsamntrd and Anaconda, The
.s..IrI uI speeiaifies' probably on
,. b,urht sas inati" infof nation'
s.l 0,a, ny me recent hesvy alunps
nv .,,,sa he did = friend last week
a., be ,aa o. .cUo tahind b trreahiaf$
s~. 4, me l.aie NJ stock certificates N cofn-
s.,l,. n vhloh hs rrrrrsented MI Rogers
=. an siurrr arr suppos"d Ia have becn
-, py bts need Tor mots masGina with
$500. n may have baen . coincidence
-, ., had ,saon out o. .OOO life insurance
80 ,ba exact amount that he h sup
80 - hay. l..sn behind In HE speoula-
INTA
don 49,.
-..,iadties were much larger han the
a., pprrta Indicated. II was DECLARED
-, 100 blocks 81 traction bonda had bosn
-, % him recently In tho Standard OH
Sau,onv's onca ,o he deposited In the
Csn,ral trust Company, H. H. Rogers
ard a,hors Interested In these bonds had
.,,orsed that they had been 40 depoeited'
I, uas reported that II had been disoovS
I'D that they we're not in the possession OF
,ss Central trust Company, but had turned
:. 3, the Offices II the brokers with whom
sn,sr ~sr.culatad heavily, SPisr h supposed
~ nave s~reculnted largely through the
Am Of beech. LOew a Co, but
nors NJ the firm would admit yesterday
,hs, thew had an account with him. Neither
-onld thew admit that they had In their
rossasston any securities that Spier had The
custody Of.
III n Rogers, Jr.. spent some time yestcr-
A.n afternoon examining the books W
Snier's office with an accountant. He had
an snpointment with rankin l.. D. Prem
tiss. Spier's brother-in-law, to open Spiers
safe on Wednesday ~ternoon but MI.
prentiss did not get back to New YORK
from the funeral in time TO keep the APP
no,ntment' il was while MIR. Rogers was
taking the examination OF the books yea
teTjay that he made this statement;
so far as we have investigated the REQ
ords there seem TO be certain irregularities
Thich must be traced TO the end before a
nositive statement can be made as to what
aytent Mr.. Spier exceeded his powers as
an officer Of some of the companies In which
ve were Interested. II is very probable
that certain Of the stock certihcates, ap-
narently issued nde irregularities, may
proye IN the outcome TO nave been deVoteu
TO legitimate OUTLAWS Tor the companies
$50 far we have heard from no bank with
which any OF these securities have been
Intoxicated. We annot assume to know
or 10 estimate the liabilities OF the Spler
estate, Our position up TO now " mat
We are Investigating and are trying TO
earn where we stand There is evidence
that some stock was put out in the name
Of the wife. We cannot say that was I'M
proper until we have gone further into the
natter, As we do go further there 10 no
appearance Of n increase, but on the
contrary the liabilities may prove 20 De
smaller than is now anticipated. At the
present stage we annot give any appro1-
mate idea OF the amount involved
The stock to whion MIR, Rogers referred
"a Ia wing been put out in the name OF the
wife Ia supposed to have lreen W) shares
OF the New York Investment ana Improve
ment Company, the holding concern Tor the
company that formerly. operated the staten
Island ferry. MIR. Spier was president OF
the New York Investment and Improve
meut Company. representing II. H. Rogers
Alfred auterbach IL the treasurer OF the
company. II was asserted yesterday that
Mr.. Spier wrote out n stock certl1cate ana
had 1t signed by MIR. Lnuterbach and that ne
deposited the certificate with his brokers
a.. .,nrrina for ANA pnnIa md Amalutls
mated Copper stocks in which he was a
heavy loser. The value of the invest
ment company stocks comes from the laot
that the company has received or Is about
To receive a large payment OF money from
the city for taking over the staten lslana
ferry. -,
Mr.. Lauterbach yesterday would neither
confirm nor deny that he had signed the
600 shares certificate. The. par value OF
this stock Ia 500 a share and the 600 shares
would represent a face value OF 500 900
Whether Spier needed 30 large an amount.
for margins IL not known, several OF
his friends who had knowledge OF his specu-
lations said Yesterday that he had been
a plunger and that sometimes he bought
stocks in 1909 share lots.
1t was declared that Spier did not specu-
late heavily until the latter part OF last year..
At that time he bought Anaconda copper
stock at $500 a share. About the first OF
the year he sold out at s266, and he told a
friend that he had made something like
SEA, 900. A day or two later he sold L.. w:
serrell, an engineer Interested in many OF
the companies in which Spier was an officer,
that no was done with speculation for
good He also told Mr., Serrell that he
was about to take out more life insurance,
and a few days ago said that he had taken
out an endowment policy in favor OF his
wife for s25, 900, He said that the agent OF
the company had then explained that an
ordinary life insurance policy for $4,000
would cost about the same as the twenty
year endowment policy, and he was per-
suaded to change to the $50 900 policy,
Later he was persuaded to take both poll
cies.
A few days after Spier had sold his Ana
oonda stock 1t went up to 2S4. He was per.
suaded, from what he thought he knew OF
the stock, that il would go higher. II began
TO drop almost Immediately. The 2S4
figure was early in January. Later he
bought A~malgamAted at lis, N also went
down, and on Friday last, less than two days
before he met his death, 1t dropped to SO
fat, the lowest point it has reached in some
inc
One Of Spier's closest friends was a stock
trokcr who would not consent to have his