The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-02-06
Judgment for $155,753 and
Suit for $243.321 Against Him.
HIS HOME MORTGAGED
Bank Accounts Attached and
Companies in Receivers Hands.
He Is Reported to Have Gone
to Europe Last Saturday.

New York, Feb. 6-Search was con-
tinued today for Charles w. Morse. the
banker. promoter and organizer of the
American Ice company and the $780,
100000 Consolidated Steamship COM
pany. Mr.. Morse is not known to have
been in the city since Monday and may
nave left town earlier. With a judg-
ment for $155.753 against him, a suit
for $243.S21 brought against him By
the receiver of the National Bank of
America, his home mortgased and In
ADDITION attached to cover the amount
sued Tor; his accounts in several New
YORK banks attached; his Consolidated
steamship company in the hands of re-
ceivers, his holdings of bank stock
greatly deprecated and two grand
Juries investigating his relations with
the banks. he faced a condition which
might have appalled, any man.
National Bank Examiner Charles A
Hanna. who is in charge of the Ma
tional Bank Of America, announced
that he was informed that Mr.. Morse
had probably gone to Europe or had
departed elsewhere for an indefinite
period. Mrs. Morse was at her home
in this city, but no information could
be obtained from her. Albert B. Board
man. attorney for Mr.. Morse. was
quoted today as saying that Morse sail
ed for Europe Saturday for a three
weeks rest, not anticipating such Il
crisis in his affairs.
The action brought by Bank Ex-
aminer Hanna for $243,321 was to re-
cover the amount of loans alleged to
have been made by the National Bank
for which Mr.. Morse gave his note.
The bank went into the hands of a re-
ceiver two weeks ago.
r. A. G. Smith yesterday secured
judgment for s155,753 against Morse
to cover the value of 500 shares of
bank stock which Morse had sold to
Mr.. Smith with the agreement that he
would pay $150,000 for it whenever
Mr.. Smith wanted to return it.
Since Morse's elimination from the
New York banking institution he has
transacted most of his business at his
Fifth avenue residence. Within the
past ten days he has been before the
county grand jury several times to
testify concerning certain assets of the
Provident Savings Life Assurance So,
| ciety which were deposited with banks
with which he was connected. The
federal grand jury has also been in
vestigating the conduct. of those banks.
That Morse was greatly disturbed by
the various moves against him is indi-
Gated by the statement of Thomas E.
Wing, attorney for the receiver of the
National Bank of North America, who
made affidavit that Mr.. Morse said to
him with great agitation that he had
watched his securities drop far below
par and had kept almost all of his
accounts margined and good but that
he could not stand it forever, and did
not know what he would do.
Prior to the collapse of the various
enterprises in which he was engaged,
Mr. Morse's fortune was estimated as
high as $20,000,000.
At the office of the Consolidated
Steamship company, it was stated that
Mr.. Morse was at that Office last Fri
day. He has not been seen since and
it was understood last week that it was
his intention to leave the city.
Albert B. Boardman, counsel for
Mr.. Morse was at the district attor-
ney's office today in connection with
certain grand jury proceedings. 1t
was not known whether his presence
was in relation to the grand ,js,ry's IN
vestigation of banking methods as dis
closed by the October panic. ~,
Before going before the grand jury
Mr.. Boardman said he supposed he
was called to tell the grand jury what
he knew about the sale by Mr.. Morse
of a large block Of stock Of National
Bank of North America. Former
Judge Morgan J. OBr1en. a law part.
ner of Mr.. Boardman, was also sum-.
rnoned before the grand Jury. Ser