The Birmingham age-herald., 1907-04-07
From the New York Times.

From the New YOrk Times.
 TT was learned yesterday that at the
 direction of Mrs. Stanford White, the
 proceeds of the sale of the former home of the Whites at 121 East Twenty first street. and the great quantity of art
 treasures 1t contains, are to go to Me Kim, Mead & White, to pay at least in part the debt which MT. White owed the firm when he was murdered by Harry K. Thaw on June 25, 1906. Also, it trans pired that Mrs. White had given nstruc- tions that the amount received from the insurance on her husbands life should be applied to the same account.
 A short time after the murder it was said that MT. White had overdrawn his account with the firm, but the amount was not stated. One report was that it
 was $500,000. The lawyer for the White family declined to discuss the subject, saying that announcement would be made at the proper time. No such announce ment has ever been made. It was as- certained yesterday, however, that the amount overdrawn was about $6O0,000.
 The sale, which will begin on the after noon of April and continue until every
 thing in the house has been sold will
 be ins charge of an auctioneer, who will
 knock down to the highest bidders the
 wonderful works of art gathered by Mr. White, a widely recognized connoisseur. The members of the firm with which
 MT. White was connected have been very reticent regarding their financial relations with him. An effort made yesterday to get statement of the account met with no more success than previous efforts. An intimate friend of Stanford Whites, speaking soon after the murder, declared his belief that there never was a time | when MT. White was unable to pay off i his entire indebtedness if 1t had been
 necessary for him to do so,' but he add | ed: Tt is true that he was heavy 1 spender and that he anticipated his in- 1 come. but never did more than anticipate l receipts of which he was absolutely cer- 1 tain"
 | Asked if 1t was not true that MT. White ! was in debt to the firm at the time of l his death the friend said: Not to any l unusual extent. He was always more or ] less overdrawn.'
 1 In addition to MT Whites indebtedness l to his firm, 1t Is understood that he lost
 a large amount of money In Wall street l speculations, but this is not now an in- l debtedness against his estate. According to the story told by an intimate friend | MT. White lost about s300O00 in stock | speculations about year ago.
 He appealed to his friends for assist
 ance They held a meeting and after an ] examination of his brokers accounts they | agreed to take up the account and carry 1t until his losses were wiped out, pro- viding that he would sign promise never again to speculate. MT. White agreed to 1 this, and his losses were taken over by a | syndicate. which subsequently, recovered l almost all that had been advanced by a rising market
 Mrs. Stanford White is understood to | have been well provided for by her rela- 1 tives. who are wealthy. She was Miss I Bessie Smith, daughter of Judge J. Law l renee Smith of New York. and descend | ant of Col. Richard Smith, the original | patentee of Shutdown. L. I. The family I had been prominent and wealthy for many generations.
 When the matter of the proposed settle ment of MT. Whites account with the