Daily press. [volume] (Newport News, Va.) 1896-current, 1908-02-12
Details Of Charles ". aorse's
Transactions Coming 10 Light.
WILL HAVE TO FACE MAHY CHARGES
WIN Reach New York Some Time on
Saturday and IT is Likely He WIN
be Placed Under Arrest Immediate
ly--manlpulation Of Notes.
my Asaociateh prosa \

NEW YORK. Feb. ll,-Some OF tho
details OF Charles w. Morse's high
finance that have come, 10 lieht since
ms Indictment on two counts yester-
day by tho speciai grand i0rv
OF this county. makes IL plain that. I'm
MS brief career az banker, he tangled
more weaving schemes for profit than
mas been undono again. His traDsac-
lion with Judge O'Brien's note which
was The basis for the grand jury's pre-
sehtment, instead Of being an isolated
example of Morses handiwork. now
turns out to be only one step ON n
long road. a week ago. too. II VIVA
said that 100000 wuuld cover his
maximum liabilities TO the Bank of
North America. There are those to-
day, somewhat better informed who
say that sl.O00.000 would be nearer
70 the mark. For all that anybody
knows to the contrary. lie got thous-
ands OF dollars In excess of that sum
through the aid of judiciously selected
dummies who contracted loans from
the bank. He got the cash and they
are getting the notoricty.
Albert II. Boardman, counsel for
Morse. was unwilling to make any
comment this morning or his clients
Indictment. Bat he said he would go
down the bay TO meet Morse when HI.
comes back on the Etruria.
Charged with Grand Larceny.
IL Is known that Mr.. Morse is
charged with grand larceny In con-
nection with n sale he made to for
mer Justice Morgan j. OBrien. the
law partner of his present counsel. of
1000 shares of Bank OF North Amer
lea stock. 1t Is assurted that nearly
n year ago Morse was anxious to
build up the credit of the Bank of
North America by getting on its di-
rectorate men of standing and proml-
hence IN the community. lie went
to Judge O'Brien and offered to sell
him 1000 shares of the banks stock
at 5000 Il share, in return for the
judges notes. AS condition of the
bargain Morse offered to take the
stock off his hands any time within
two years II Judge O'Brlen should
be dissatisfied with his purchase. The
lawyer was also ut liberty to sell the
stock at profit someone else If he
could.
Manipulated o'Brien's Note.
Further than that it is contended
that Morse promised not to discount
Judge O'Brien's note All went well
until the United Copper deal Of
IIeinze IN October. the disastrous
failure to corner the stock. in which
Morse lost heavily and was afterwards
accused of selling out his partners.
About that time Morse took one Of
Judge O'Brien's notes for 100000 to
the Merchantile National Bank. of
which F.. Augustus Heinze was then
president. and discounted It, Therote
was made out 10 Judge O'Brien Ind
signed by him. 1t was endorsed to
Morse. In some unexplained way
the Merchantile National Bank made
the check out in payment for the note
to Morgan i. O'Brien. Morse took
this check. endorsed 1t Morgan j.
O'Brien. per c. w. Morse" and de-
posted it to his credit in the bank
of North America. O'Brein only
learned of the real obligation that
was facing him when the Merchantilo
National Bank asked him to pay his
note. AS far as can be learned, that
was not the only note he had to meet,
thanks to Morse's activity.
The Bank of North America pre-
scented his other note for 800 900
given to Morse for stock of the insti-
tuition.