Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-02-06
Ex-Ice King Not to Be
Found, Though Wanted.
Creditors Attach Property In
GLIDING New York House.
National Bank Examiner Begins
Suit for S243,000.


Morse organizer of the American Ice
CO. ;nd of the Consolidated Steamship
Co could not be seen tonight regard
ing the courts actions instituted
against him TO-DAY. He was no: at his
town house it was said and it could
not be learned that he was either III
Boston or at his home in Bath, Me.
His creditors today attached his
property in this city, Including his
residence at No. 12S Fifth avenue, in
Il suit begun by Charles y. Hanna,
national bank examiner receiver 81
the National Bank of North American
which Morse controlled.
In the moving papers on which the
attachment was granted II was stated
that Morse had "Probably left for
Europe or departed elsewhere, from
New York within the last few days"
A Judgment by default for $l55.753
in another suit was also entered
against him today.
Morse whose wide embracing opera
tiOnS in the business world has made
him on2 of the most prominent tinan-
cial men. it is said has been seriously
involved recently following the money
| stress and banking trouble.
So far as known. Morse had no
pressing engagements which would
keep him III the city just now. His
duty as (" Witness before the CRANE
jury in New York county is believed
to have been ended and friends Of tn"
former banker suggested tonight that
il was quite possible that he had SeiZ-
ed the opportunity to slip away from
business cares and at the same tim"
escape from the rigors Of the winter,
while resting in Il milder climate.
The New York county grand jury
has been investigating til" local bank
ing situation and some of the transact
tions which are alleged /" have helped
to make possible the recent series Of
financial calamiticS. Morse has ap-
pcared before the grand jury to give
that dy such information on the
situation as he possessed.
While tine district jury has h"cn al work
tn" federal authorities through Il federal
grand Jury have taken . hand ill the gem
"ral examination by dclvinG into the re-
cent conduct Of certain financial banks
Tie results of tn" deliberations of the
grand jury have been made public
Author Braun, private secretary to
Morse, said tonight:
Il h@vr not seen Mr. Morse since ono
day last week. do not know where he
is. l know nothing about the reports
which have been circulated as TO his
probable whereabouts ard l could not
help anybody fird him.
Mors" was called to testify before a
referee in January in regard t. Il loan
of $.u0,c0 Which he secured from the
I[nickcrbock,r Trust co in October, 1905.
through the medium CT the cashier of the
National Bank Of North America. The
refrrcr's report on this loan was filed
with Justice Clark il the supreme court
III Richmond two weeks ago, and there
has been no ruling on it to date.
Morse has not been seem in the fnan-
cial district this wco K, hut close friend
is authority for the statement that he
saw him Monday and that Mr.. Mcrsc told
him 1T the time that he intended to 20 to
Europe. No steamer sailed 10Y Europe
Monday and Morse is not on IT," list of
any steamers sailing today or tomorrow.
Troubles have been piling thick ana
fast on Morse ever since last October
He was involved in the unsuccessful
corner in United Copper stock. en-
glneered by Augustus Iieinze. which
marked the beginning Of the panic. As
the stock and bonds Of til" CONSOLIDATE
I'd Steamship 90. also declined with
sensational rapidity when the corner
failed. it is question just what part
the Morse transactions played in the
affairs. Tho failures of Otto Heinzc &
AT - Loo
soon announced. Then followed in
quick succession the resignation Of
Morse from all the banking institutions
with which he was connected, the
closing Of the Hamilton Bank and half
a score Of small Brooklyn institutions,
the forced withdrawal Of Edward B.
Thomas and Orlando +. Thomas from
the local banking field. the suicide of
Charles 7. Barney and the spread of
panic all over the United States and
the civilized world
ON oct. % at the beginning Of the
panic. Mr. Morse mortgaged his Fifth
avenue house for S350,000 to John e.
Berwind. The property carried a prior
mortgage of $1500OO
With the subsistence of the panic the |
weakness of the so-called Morse banks |
became apparent and this eliminated |
recently in the suspension Of the Ma
tional Bank of North America and the |
New Amsterdam National Bank which |
were looked upon as the two most i'm
portant Morse institutions. Then fol- |
lowed the receivership for the Con-
solidated Steamship Co. and several of |
its subsidiaries
Mr.. Morse and the late Charles r. |
Barney organized the American Ice |
Co. 10 years ago and Mr.. Morse first |
came into prominence in connection
with this company.