Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-04
QUINCY IN TROUBLE.
Boston's Former Mayor Petitioned
Into Bankruptcy.

BOSTON, January 4.-With liabilities of
$4,000 and few assets, former Mayor Jo-
siah Quincy was yesterday petitioned into
bankruptcy. Mr. Quincy is one Of the most
prominent public men in New England. The
petition was filed by NJ. F. Clarke, c. H.
Wooster and George Warner, represented
by c. F. Eldredge as attorney, holding
notes aggregating $1,7OO. One of the larg-
est factors contributing to his financial
condition, Mr.. Quincy says, is claim held
against him in New York arising from the
failure of the Seventh National Bank in
1901.
In explanation of the action in court Mr.
Quincy issued the following statement:
1.-The action of a single judgment credi-
tor holding notes several years old bear
ing my name but never used for the pur
pose fcr which they We're made or issued
or properly negotiated for value has forced
the filing of the petition While l have
endeavored in every way to avoid or post
pone such proceeding, it is doubtless for
the best interests alike of my creditors and
of myself. Through misplaced confidence
in a former business associate, now de-
ceased, l have for some years been under
large liabilities paper bearing my name
and duly negotia ted, but representing no
value received by me.
Il merely state this fact by way of ex-
PLANTATION, and not as any excuse for the
situation in which l find myself, which has
also resulted in part from serious mistakes
of my own and from disappolntmentS in
connection with mining investments. The
obligations now outstanding against me
which l have personally incurred and for
which l have received value not large
in amount; l shall endeavor to meet them
later, and am confident of my ability to
do so.
Since my return from Europe three years
ago l have paid out considerable sums to
creditors in an endeavor to meet the stu
alton. My assets now remaining are not
of large cash value. My total liabilities
are about $3.50 600. of which about one-half
represents a single claim held against me
in New York and arising out of the failure
of the Seventh National Bank in 1901. l
intend in the future to devote myself who'll
ly to representing the interests of my eli
ents, in which l have had more success
than in my own business and financial
connections
Mr.. Quincy is at present member of
the Boston rapid transit commission, hav-
ing been appointed by Mayor Fitzgerald
Last year he was chairman of the demo-
cratic state committee, iresigning when he
failed to cause the defeat of the nomina-
ton of John B. Moran for governor. For
four years he was mayor of Boston, and
he served four terms in the legislature and
was also at one time candidate for COVER
nor Under Cleveland he for six
months first assistant secretary of state.
Not only in political circles, but N finan-
sdered a power, as he had many close
friends who are involved in large Boston
enterprises. He is a lawyer by profession,
but has had interests in numerous inven-
tions.
Among his business affiliations was one
with the late Harry Bates, who, like him
self, was a Harvard graduate Bates and
Quincy We're allied in numerous affairs,
among them the publishing of a financial
paper When Bates died about two years
ago among his effects were found notes
signed by Quincy.
Recently Mrs Mary Bates mother of
Quincy's associate, brought suit against
the former mayor and obtained judgment
for $15, S4971. Quincy did not defend the
suit, and at the expiration of ten days was
cited to appear in the poor debtors court
January 2 Yesterday he made public ac-
Acknowledgement as follows:
&C. F. Eldredge, esq, attorney for C. H.
Wooster, NJ. F. Clarke and another
Dear Sir: In respect to the notes made
by me and held by your clients l admit
my inability to pay my debts and my will
ingness to be adjudged a bankrupt on that
ground. Yours truly, JOSIAH = oINCY."