The sun., 1908-02-28
BOTH THE THOMASES INDICTED
Continued from First PGSe.

done and the Hudson Trust Company loan
was paid the next day.
Wall Street men in a position TO have ex-
cellent information regarding Thomas af-
fairs say that their decline began with the
speculations Of Herbert F. Thomas. the son
OF Orlando +. Thomas. and heavy losses
incurred by the young man. Herbert +.
Thomas was a Stock Exchange member OF
the brokerage firm OF Thomas. Maclay Il
Co., n Broadway, which was the successor
Of the firm Of Thomas a Post and the prede-
cessor OF the firm of Robert Maclay Il Co.
which suspended several weeks ago. For
his losses the firm and his father were re-
sponsible and il was in settling These losses
that Orlando f. Thomas in particular got
his affairs involved.
A man close to the Thomases said yestcr-
day that il cost o. F. Thomas 81 25O 900 to
meet the losses incurred by his sons specu-
lation. An estimate OF $500 900 was made
by a man who had occasion TO make close
exa minatioD of the Thomas affairs about a
year ago. o. +. Thomas himself paid the
losses and as far as known never made
complaint regarding them. At the time the
only indication of the transaction was the
sale of Herbert +. Thomas seat in the
Stock Exchange and his retirement from
business. This was in December. 1900.
q. +. Thomas is less known than his bust
ness partner. r. Il. Thomas. yet IL lis under
stood among all their business associates
that q +. supplied the business ability that
carried them into prominence in the financial
world, while F.. r. Thomas was able to
furnish the greater part OF the capital. q.
+. Thomas looked after business deals,
while his partner interested himself on the
racetrack and in various other amusements.
At the height Of the panic IL was difficult
10 persuade many people that the part ners
were not kin. A glance at them together.
nevertheless, was sufficient to dissirate
this idea. r. r. Thomas is six feet four.
Beside him o. F. Thomas looks like four
feet six In reality he is taller than that,
but such an impression was created as
they walked together, L. r. with long
strides and the much smaller o. F. with
little short steps tTottinR along and lust
managing to keep up with his elongated
associate. In other ways, also, are they
different, q. =. being fair with lightish
red moustache, and f, r. dark. with a thin
pallid face. +. r. is thin and angular, o.
+. is rather stocky.
As the son Of Gems Samuel Thomas the
heir OF the bulk of his fortune, as sports
has been often told IL is different with
o. F. Thomas. although the latter has been
the more prominent figure in most Of'their
business transactions.
o. F. Thomas, while generally con-
sidered a resident of this city, for the last
fifteen years has maintained his legal
residence in Lyons, Wayne county, this
state. and has voted there. Prior TO that
time he was a resident OF Brooklyn and
the president and principal owner Of the
Manhattan Silverplate Company Of that
city. In such car acity he settled in Lyons,
moving mis- manufacturing company there
in resl onse to an offer from business men
of the village, who took stock in the COM
pany as an induCement.
MIR. Thomas continued TO manage the
business in Lyons ana continually extended
it's operations until il became one of the
prominent concerns in the silver plating
trade. II paid it's stockho lders 10 per
cent. dividends and generally was so sue
cessful that IL gave tho president proni-
nence in the trade. Accordingly in the
era Of industrial consultations D. +.
Thomas, starting to organize a silver
plate trust, was able to secure the Coopera-
tion Of many Of the most important manu-
featuring concerns in the country. His
scheme eventually took form as the Inter
nationa! Silver Company, Incorporated
in 1895 with a capital Of s2O,OOO,OOO. Sub
sequently he became interested in the
organization Of consolidation of malt
houses. This came into being as the Ameri-
Cnn Mailing Company.
In the course of these transactions o. +.
Thomas had business relations with the
late Gen. Samuel Thomas, r. X. Ihomas's
father, and soon after the consultations
were perfected he became associated in
business with the elder Thomas IL was
in consequence of this relationship that
on the death Of the General he became a
business partner OF the Generals heir and
successor. In the last year or so Of the
Generals life he, his son, o. F. Thomas
and Edwin NJ. Post constituted the Stock
Exchange firm of Thomas 4 Post
Up to the last two or three years o. +.
Thomas divided his time about evenly be-
tween this city and Lyons. In the village.
in addition TO his interests in the mterna-
tional Silver Company. with which he re-
manned connected up to 1904, he was presi-
dent Of a bank which he organized, the Bank
of Wayne; was president Of a beet sugar
company and the controlling factor in a
pottery company and other smaller enter
prises. All Of these businesses we're sue
cessful. In the last two or three years he
has gradually Withdrawn from them until
now he is not in control OF any Lyons enter
prises.
In this city o. F. Thomas's pursuits have
been in connection with +. r. Thomas,
though he has never had an interest in the
latters racing stable. His New York
address has been the Waldorf. He is a
widower and has but one son. Herbert +.
He resigned as president OF the Bank Of
Wayne a year and half ago, selling his in
terest in that institution to Frederick Steig-
erwald, formerly well known member OF
the Produce Exchange. Mr.. Steigerwald
had previously acquired control of the beet
sugar company which Mr.. Thomas organ
lied and had become its president