The semi-weekly messenger., 1908-02-07
AoRsE's ASSETS ATTACHED.
Action OF Receiver OF National Bank
OF North America-Nr. Norse's
Whereabouts Not Known.

New York. February 5.-Following
rcnle court today against Charles W.
Morse. the banker, by Charles A
Hanna, of the United States bank ex-
aminer to recover $243, 3,321.2l, the bal
ance due on certain promissory notes
given by Mr.. Morse to the National
Bank of North America in September
and October last. and the announce
ment that judgment by default for
Sl55, 1896 was entered today in the
county clerks Office against Morse in
favor OF Robert A G Smith. NJ Han
ma, who is receiver for the National
Bank of North America tonight made
the following statement:
The receiver was informed late
Tuesday evening that Mr. Charles w
Morse had probably gone to Europe or
departed elsewhere from New York.
earlier in the day. TO be gone for an
indefinite period. This information be-
ing confirmed by those in charge of
the Morse residence, the receiver took
measures this morning to attach such
Of Mr.. Morses assets in New York as
he was able to locate. A writ Of at
tachment was obtained and served up
on "a number Of banks and bankers In
the down town district and lis pen
dens' was filed upon Mr. Norses Fifth
avenue residence"
Charles w. Morse organizer Of the
America Ice Company and Of the Con-
solidated Steamship company, could
not be seen tonight regarding the
courts actions instituted against him
today. He was not at his down town
house here, 1t was said and 1t could
not be learned that he was either in
Boston or at his home at Bath, Maine.
Morse whose wide embracing opera
tions in the business world had made
him one of the most prominent finan-
cial men, has been seriously involved
recently consequent upon the money
stress and banking troubles.
Author Braun, private secretary to
Mr.. Morse said tonight he had not
seen Mr.. Morse since one day last
week
Troubles have been piling thick and
fast on Morse ever since last October
He was involved in the unsuccessful
corner in United States Copper engi-
neered by F. Augustus Heinz which
marked the beginning of the panic.
When the corner went to pieces and
United Copper stock came crashing
down it was reported that Mr. Morse
had sold out the other members Of the
pool and had caused the slump. AS
the stock and bonds of the Consolidat-
ed Steamship company-the latest and
greatest Morse undertaking-also de-
clined with sensational rapidity when
the corner failed, it is a question just
what part the Morse transactions play
ed in the affair. The failures of Otto
Heinz and company and of Gross and
hloberg were soon announced.
Then followed in quick succession
the designations Of Morse from all the
banking institutions with which he
was connected the failure of Knick-
erbocker Trust CTmrany, the clos ng
of the Hamilton Bank and half a score
of small Brooklyn and Harlem insti-
tutions, the forced withdrawal of Ed
ward R Thomas and Orlando F. Thorn
as from the local banking field, the
suicide of Charles T. Barney and the
spread of the panic all over the United
States and the civilized world.
On October 29th at the beginning OF
the panic, Mr.. Morse mortgaged his
Fifth avenue house for $3.50. 1000 to
John F. Berwind The property car
ried prior mortgage for s150,000.
With the subsidence OF the panic
the weakness of the so-called Morse
banks became apparent and this cul-
minated recently in the suspension of
the National Bank of North America
and the New Amsterdam National
Bank which were looked upon as the
two most important Morse institutions.
Then followed the receivership for the
Consolidated Steamship company and
several of its subsidiary companies.