Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-10
L. M. PRESTON ASUICIDE
REASONS WHY NEW Yorker
TOOK HIS LIFE.

Special Dispatch to The Star.
NEW YORK, March 9.-Leonidas NJ.
Preston, the treasurer of the Thinker
Roller-bearing Axle Company. who died
suddenly on Thursday night in his apart
ments in the Hotel Cumberland. commit
ted suicide. The poison which caused
death, hydrocyanic or prussic acid. was
self-administered. Preston took his life be-
cause he knew that he could not longer
keep secret the facts that he was de-
fauter for many thousands of dollars to his
company, and that the world would soon
know also that he was forger and race
track gambler.
All of this was disclosed today at the pre-
liminary examination made by Coroner
Hamburger.
The Thinker company has had prelmi
which indicate a defalcation by Preston of
not less than $4,000. Edward r. Hewitt.
president OF the company. admits that his
Endorsements were forged for several thou
sand dollars on promissory notes by Pres
ton. Just how many of these notes are in
existence he does not know. Charles n
Beekman. Mr.. Hewitt's attorney; said that
1t was thought the forgeries viii exceed
IS, 900.
Downfall Started at the Race Track.
The Riverside Bank holds some Of this
paper, and two other banks are known to
have accepted it.
Preston's downfall began less than two
years ago. One day he accepted an invi-
tatfon to go to the race track Just to
look on and one of his friends in a ban
tering mood dared him to make a bet
He laughingly aSSented, placing $50 on
horse at big odds. Many good mans
fate was his. He won his first bet. 1t
was not yet the second anniversary or
that venture before the gambling craze
hoo IL a<,r,p 1af1 of = tvv1
Mrs. Preston is left without a penny.
she says. In his attempts to recoup his
losses and avert the exposure which he
knew impended Preston had allowed all
his life insurance. to lapse.
Insist He Was Demented.
Many of Prestons friends insist that he
was demented, and say that no other
theory VIII. explain much that has been
disclosed.
He appears to have feared that he was
losing his mind, for a card found in his eff
fects and written last September indi-
Gated as much.
On that card he had written:
II fully realize that l am and have been
for some time insane. I have lost my mind,
my power to grasp things and my memory.
l have lost everything except my faith in
His hands in all things. He is my refuge
and my strength and He will never forsake
me-
On another card We're written instruc-
lions in case of his sudden death or
an accident showing that suicide was
even then considered. He said notice
should be sent to his mother in Tyler.
Texas, brother in that state and several
Of his business associates. He also direct
ed that policy on his life in the Equitable
Company be paid his wife, and gave the
number of the policy The Equitable Of
ficials said today that this policy had been
allowed to lapse last December.
During the last year Preston began to talk
Of a great fortune, two millions or more,
that. he said, he would soon inherit. He
made most of his friends believe it and his
wife, too. She had always thought him a
millionaire. 1t is known now that the for
tune was a myth; that all he owned was
80 shares of stock in the Thinker company
and his salary of $500 year.