Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1908-11-07
ONE TIME ICE AND STEAMSHIP
KING WITH FORTUNE A YEAR
AGO OF TWENTY-FIVE MILLIONS
MUST GO TO "PEN"
PARTNER CURTIS
ALSO CONVICTED

FOUND GUILTY WAS MlSAPPLl-
CATION OF FUNDS OF NEW
YORK BANK.
New York. Nov. e. Charles w.
Morse, one time ice king" and
''steamship king whose personal for
tune little more than year ago was
estimated at more than s22,000,000,
was today sentenced to fifteen years
imprisonment, having last night been
convicted of misappheation of the
funds of the National Bank of North
America
Sentence on Alfred H. Curtis, former
president of the National Bank Of
North America, who was found. guilty
with Morse, was suspended.
Given Ten Days Stay.
The sentence on Morse was based
on the verdict of guilty of misapplica-
tion of funds and making false entries
In the books of the bank. 1t is under
stood that II Morse goes to prison he
will be confined in the federal prison
at Atlanta, Ca A ten days stay in
execution Of the sentence of Morse
was granted by Judge Hough. He was
paroled in custody of Marshal Henkel.
pending any action that may be taken
during the ten days stay.
Morse was taken to the torlbs pris-1
on at O'Clock this afternoon 1t
was announced that no application for
his release on bail would be made.
Men Cool; Wives Collapse.
The jury recommended clemency in
the case of Curtis. The judge, suspend
ed sentence. Both men accepted the
verdict Of the jury without displaying
any emotion, but their wives col
lapsed. Mrs Morse, sobbing convul-
sively, was led to an ante room, while
Mrs. Curtis tainted in her seat in the
court room.
Story OF Morse's Comet.
Morse first attracted attention as an
iceman, then the financial district saw
light and found that Morse was form
ing a chain Of banks. Then he became
man much guessed about and his
operations, large and queer, finally
came to smash in the panic.
Morse graduated from Bowdoin col
1ege and went into business with his
father. He saw money in Ice, leased
pond, and got more acreage, became
known as silent Charley and pros.
pered. He became president of the
American Ice company, took up with
Tammany politicians, dropped them,
and began the acquisition OF chain
or banks. He got together about nine
banks in manner which didn't bear
scrutiny when the smash came. He
even went to Maine and corralled
banks.
Morse was the power In the Bank
of New Amsterdam and the Garfield
National bank. His operations We're
TIE subject of comment in the financial
district. The venturesome applauded
him for his boldness; the conserva-
tives watched him with alarm The
conservatives feared he was overex-
tending himself.
Banks His Power swayed
When the panic came, with the
elimination of Morse and the subse-
1uent criminal prosecution, he had A
chain of four important banks, three
of which had clearing house member
ships. The American Ice company,
the American Ice Securities, the latter
holding company for the American
Ice company, and the Consolidated
Steamship company, which was a
ssmerger of the majority of the coast
Ia Use steamship COM -anies.
The biggest banl- of the Morse
astring and the one in which kr main
atained his Office was the National
%Bank of North America He was vice
9president and director of this bank.
GIN addition to the banks mentioned,
Che was vice president and director of
Nthe Fourteenth Street bank, he was a
4 large stockhoder in the Mercantile
= National, and director in these institu.
gtions-the Garfield Safe Deposit coul-
Npany, the New Amsterdam Safe De-
Eposit company, the New York Mort
kgage and Security company, the New
York Produce Exchange bank the
STitle Insurance company Of New York,
Athe Van Norden Safe Deposit com
Kpaag, and the Van Norden Trust com
RpaaS.
Morse was the principal in lot of
obligation, civil and criminal. The
kDodge-Morse marriage and divorce
Ktangle was one. It, came out of his
marriage to Mrs. Dodge, wife Of
Eharles F. Dodge, who was a Pullman
@orter and hotel clerk Several per
Eons were indicated, bit Hummel was
&he onhN EcSsS-,-, prosecuted