The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-08-07
SAVED $4,000 BY SUICIDE
ONLY PROVISION W. y. ALLEY
COULD MAKE FOR MS FAMILY.

Te-morrsw rms Seat On the stock Exchange
WIN ne transferred and . Membcr
without o Scat Gets NO Gsrstuity Ben
eat-Broker Had Gcu Bankrupt.
William 8. Alley. father Of the ~Iarchmont
Club and for t~wenty-nine years a member
Of the New York Stock Exchange. killed
himself with q revolver in his rooms at the
Larchmont Club house late on Monday
night. Because Of heavy financial re-
verses. which had resulted in his petition
In bankruptcy on May 4 last. Mr.. Alley
had sold his seat on the exchange on July "a.
but he saved for his widow the $4,000
gratuity attaching to a seat on the exchange
by killing himself before the transfer Of
his seat should become effectivs at noon
tomorrow.
According to the rules OF the Stock Ex-
change. notice OF the trsnsfer OF q seat In
posted ton days before the change becomes
effective. The last seat on The exchange
to be transferred Ia said to a brought
SIS. 900. Even though Mr.. Alley may have
secured a like sum for his privileges as a
member the aggregate OF the claims held
against him by members OF the exchange
is CSC. $50. according to the petition flee
10 bankruptcy. Since these debts are
secured by a lien on the dead a seat
he could save nothing out Of h wreck
of his fortune but the gratuity insurance.
MIR. Alley went from Wall Street ~ TO
the clubhouse at LarchmoDt on Monday
night. He seemed distraught and did not
associate with the members who were In
the house. but after walking on the piazza
for some time he went upstairs to the ante
room OF the club library. A few minutes
afterward a shot was heard and attendants
broke into the room. They found Alley
on the door in front OF a mirror with q bui-
let wound in his forehead and a revolver
still in his hand. DIR. William Stump. who
was called, had him started for the New
Rochelle Hospital. but he died on the way.
Mr.. Alley became a member OF the x-
change in 1873 and later was the board
Field d Dowd. The second partner Of the
firm was Cyrus W. Field, Jr. After Fields
failure in the late sos the firm dissolved
and was succeeded by w 8. Alley h Co:
transactions on the Street were prosperous.
misfortune began TO come 70 him recently.
Al a time when the New York Stock Ex-
change suspected some OF its members
OF having communication with the Con-
solidated Exchange the firm OF Alley.
Conger a Co was one Of eleven having
members on the Stock Exchange TO have
their telephones removed from the trading
floor of the Exchange; Mr.. Alley was
suspended for a year by he governors
he was reinstated on May. 1905. before
the expiration Of the term OF suspension.
The suspension from the Exchange
gave a heavy blow to Mr.. Alleys business.
IN July IL. 1905. judgment OF S2s.275 was
Young In favor Of William Oothout on a
note Tor S22. 57S. When Judgment was
entered Mr.. Alley was again suspended
from the Exchange, according to the rules
Of that body.
be could not announce himself solvent.
He had an office with Sussdorf Brothers.
80 Exchange place. and traded on the
curb without success until the accumu-
lstion OF his debts forced him to file a
petition in bankruptcy on May 4 OF this
year. His creditors On the floor OF the
Exchange were W. F.. Connor, Connor a
Co. Sussdorf, Brothers and De Coppet a
Doremus. and there were many outside
whose holdings against him were not so
we'll secured. In his petition Mr.. Alley
declared that he had no assets to cover
the total Of s1ef 1871 liabilities.
Mr.. Alley was an enthusiastic yachts
man. With Frank Anthony, William
France and Fred Flint he established the
Lsrchmont Yacht Club. his name being
first on the list OF members. He was the
first treasurer Of the new club and had
held many Offices in the organization since.
The first club regatta on July 5. 1880.
was sailed FOR the Alley pennant. His
first boat was the Cruiser; later he became
owner OF William NJ. Tweed's Schemer.
when Tweed had no further use for yachts.
Mr.. Alley helped to organize the Rocking
Chair Fleet and was it's first Pooh Bah"
He had a villa at Larchmont and lived
there most Of his latter years.
A. Bryan Alley. who ia secretary OF the
~Larchmont Yacht Club. said that Mr..
Alley carried no insurance. His home
was in his wife's name. There are two
sons. Bolton and Clarkson. aged Q and
10 years. Mr.. Alley had written a letter
on Monday asking his brother to look
after some Of his private affairs, but gave
no hint Of suicide.