The Washington herald., 1908-02-19
STILL AFTER MORSE
Three Creditors Would Put
Him Into Bankruptcy.
TENDERS ADDITIONAL BAIL
Deposits $4,000 for Release on
Charge OF Perjury-Friends Believe
Ice King, II Given Reasonable
Time, Can square Up His Indebt-
edness-Appears I'm Courtroom.

New York, Feb. lS.-Three Of Charles
w. Morse's creditors viii probably petit
ton tomorrow to have him put into in
voluntary bankruptcy.
Two Of these creditors are banks from
which he borrowed money They have
been contemplating bankruptcy proceed
ings for several days, but have expert
enced difficulty in getting the necessary
third creditor 20 join with them. II is TN
derstood. however, that the consent of "A
third party was obtained to-day and that
the papers will be fled tomorrow.
Mr.. Morse will fight the bankruptcy pro-
ceedings. 1t has been the contention Of
his advisers that If he is allowed reason
able time In which 10 work out his Sc
eurities he will be able to square up all
his indebtedness. but that II he is com
PEELED TO iiquidate at the present low
prices the losses may be heavy.
The ex-bankers friends declare that the
efforts 10 have his affairs thrown into the
bankruptcy court have originated in the
same quarters that prompted the whole
sale levying OF attachments on his prop
erty. II was. according to Morse's friends.
only further evidence OF the determine
ton with which the clearinghouse COM
mittee and certain officials at Washington
had started out last fall 10 eliminate
Morse from the financial world
Morse Is Bitter
Morse is very bitter toward the clear
ing house committee. and he has told his
friends that II he is forced 20 the wall lie
will make a fight before the public which
will disclose in detail the campaign that
has been waged against him
II was said to-day that one OF the pur-
poses Of the complaining creditors in fl
ing a petition tomorrow. would be to in
clude in the Morse assets the securities
which he assigned 10 the law firm OF
.O'Brien. BOardman & Piatt i'm the settle
ment OF the 10000 stock transaction
which he had with Judge O'Brien. That
assignment was made on October >. and
the four months will be Up tomorrow IN
the event Of a man being declared a
bankrupt. any assignment made within
four months is void.
Another assignment which the creditors
expect 10 catch Is one OF $4,000 10 Philip
]. Britt, who is now acting as Mr.. Morse's
counsel This assignment was made in
January. and. according 10 Mr.. Britt. Was
10 cover an indebtedness on a business
transaction. II is understood that TIE
payment had something 10 do with Mr..
Britt's interest in Morse's Sl5,000.0o0 Amer
lean lee Pool
Assignment includes Collateral
The assignment To- Mr.. Britt included
Mr.. Morse's equity I'm the collateral on
his loan from the National Bank OF North
America The balance OF this loan. Se43.-
Oo0. constitutes the claim under which
the bank has been levying on Mr.. Morse s
property
The creditors who are planning 10 bring
the bankruptcy suit have settled upon a
man whom they viii recommend TO the
court or appointment as trustee.
While some OF the creditors were talk
INK bankruptcy to-day. Lawyer Britt APP
peared in special term, part l. OF the
Supreme Court. and moved 10 have the
attachments issued at the request Of Re
ceiver Hanna vacated. He charged that
the affidavits on which they We're based
are fatally defective. These afidavits al
lege. among other things. that Morse left
the country for the purpose OF evading
his creditors The argument on the mo-
ton was set for next Monday.
Morse in Court.
Mr.. Morse appeared before Justice
Bowling in the criminal branch Of the
Supreme Court at 1880 O'Clock and plead
cd to the indictment for perjury found
against him on Monday. The plea in this
case was the same as in the grand lar
ceny indictments-not guilty. with the
privilege OF Withdrawing OF amending.
Mr. BTiJt wanted two weeks in which 10
prepare his motions, but Assistant Dis
trict Attorney Kresel objected Justice
Bowling fixed next Tuesday
I ask that the bail in this case be fixed
at SO, COO said Mr.. Kresel.
Mr.. Britt looked astonished.
Il object" he said in a loud voice.
1T is we'll known that this defendant is
under $4,000 bonds now. and II was only
a short time ago that a man under the
same charge on which $4,000 is now de-
manded was held in only $3.50 bail This
demand is only equaled by the perform
ance OF Sunday. when The district attor-
ney sent three burly policemen down the
bay 10 seize my client who had come
5000 miles TO give himself UP.
The action Of the district attorney in
this matter is indefensible. The bail
that he asks is exorbitant. unreasonable.
and excessive
Bond IL $4,000.
Il will fix the bail at $1,000. said Jus
tice Bowling.
The bond was furnished by the Fidelity
and Deposit Company OF Maryland.
which also is security for the $4,000 bail
on the larceny charges.
Lawyer Grit announced, after the ar
raignment before Justice Downing, that
he will move TO have both the perjury
and the larceny indictments dismissed.