The sun., 1908-04-11
DJIL SUIT EXPLAINS WHY ne
COMMITTED SUICIDE.
Tsd signed Friends Name 60 Checks aud
Then Turned Over Two Insurance
Policies 10 Him 10 Make Them Good
-TanEIo Of Litigation Has Followed.

,bccks, enc for $4,000 and the other FOR
$500 on which he had forged the name Of
80 friend and associate, Alfred Lauterbach,
II va5 this forgery tina, drove the New
'orIi Investment and Improvement Com
raw. II which Spier was president and
.lfrel L LauterJach treasurer. into in
.arouC, Tho forged checks depleted the
'-I, u tho corporation, on deposit with
r.a Guardian Trust Company, until nothing
r,s l,ft hut tho interest. t69oi.
Tie discovery u tho forgery came on
"ty s. iJs. although the checks had been
,,,hed soma months before On that day
,to Eaw York Investment and Improve
r.ont Conpary's passbook was turned into
RIO Guardian Trust Company and the same
in; {, cam sack wilh tho two paid checks,
fhoTirc the sec balance. The same day
.pisr vr5:c 10 Alfred Iauterbach enclosing
~ sn eryeicpo two policies on Spisr's life
t-rt1j.coO. duly assigned to Alfred Latter
zach. IS stglstee.' TN note read as follows;
" nrAr.AI: ] want to hand you hers-
-l'N Two policies amounting 10 Sj,Qj0 made
tyt 20 your order as trustee,
IN case anything should happen 20 ne
vlN you disposs OF the proceeds as follows.
lev vn,o n, Guardian Trls, Co, toF the
s-roCn' ~ th.N.Y. ]. and |. Co"....,. seS oe7 No
. Huger. 3 Hovell............,,........ $4,000
gcuy VIE, D. ". spler.................... A4a2o
-o,ss.,. ..............,...., $4,000
l- accordance With the rssolution 81 the
ard 81 directors Of December II, 1905,
l.T- paid ou' as follows:
% settlement o. Judgment sEans: Ny
and Co., With costa and interest zee, s. a22 81
roCL S. for services as per resolution. 4ooooo
-o;At.........,...,".....'.. .'..'.''''''So9E VI
There is due the Richmond L. & r. r Go.
f5r advances the sum Of N,oIs.7S. and a.
Davies, Stone & Auerbach E,is56l. with
interest at per cent. from March %, 1897.
A o. Beebe claims 81. 400 for services. He
might be paid 5000. With the above mat
tsrs, the balance should be divided among
the stockholders as there are no debts out
sanding.
j. you can consistently carry this matter
our for me, and keep the facts to yourself,
,ol would confer q lasting Obligation upon
ipprecisting anything you will do. ] am.
tia.ere!y yours, CHABJEs j. SPIER.
=. s. turn over 10 you, as treasurer, !
The stock OF the ferry company, vouchers
and such books ss have.
Nay was a Saturday and that day he
lad paid up the balance Of s., ,3S7.T5 due on |
his policy premiums. The policies were in
contestable and he had given sixty days |
note 10 secure the premiums only few
days before he wrote the letter TO Lauter-
bach. hut he called on his insurance agent, |
John 7. Boone, that Saturday and took up |
tne note with cash. Then he went TO his |
home Al Tompkins avenue New Brighton,
staten Island, and spent Sunday in apparent |
reqce Al 3 o'clock Monday morning he
left his bedroom, went downstairs and shot !
himself through the heart.
II was some days before COroner's jury |
G,dded that spier had met death by his |
o~u hand. aud meanwhile Mrs. Sper and |
l;s friends and associates argued that his |
death was accidental or that he had been |
shot by burglars His financial Affairs |
we're found to be tnvoved and before long |
il was learned that his accounts with various
concerns we're short to an aggregate OF |
fbout s20O,OOO His estate was hopelessly |
iDsolvent.
The inquiry into his affairs revealed that |
hs had hypothecated Sl5O,OOO worth OF bonds
belonging to Henry H. Rogers with keech,
I.oew Co.. who were carrying a large |
amount Of stocks for Spier. There were
other disclosures showing that Spier had
ssued wrongfully as president OF the New
York Investment and Improvement Com
pany s00,OOO worth of stock TO his wife and
that he had become badly involved in specu-
ntions in Anaconda and other stocks.
Rut throughout the inquiry the real fact
that Spier had forged the name Of Alfred
Iauterbach as treasurer Of the improve
rnent Company and embezzled the funds. OF
the company by cashing the forged checks
was kept secret. Mr., lauterbach at the
Corouers inquest pleaded the privilege Of
c,unsel 10 his dealings with Spier and de-
,iiaed 10 shrow any light on the insurance
rolicy transaction. Nor did he disclose the
appeal he had received from his friend
No action was taken 10y the officers Of the
Improvement company, and II was not
until May. 1907, when Edwin P. Shattuck
vas named az receiver for the insolvent
corporation, that legal action was taken. Mr..
Shauuck made demand on the Guardian
Trust Company for t77,7SOOO, being the T
amount Of the original deposit, $4,000 with
interest from December 10, 1906. He was
told that there was only teSOi TO the credit
Il tho company and he thereupon began
snt for the amount.
In it's answer 10 Mr.. Shattuck's suit the
Guardian Trust Company set forth that It
admitted the deposit, but that on December
20, 1905, it had paid out $4,000 and on January
1909 81 900 on two checks OF the improve
m'nt company drawn by Charles l.. Spier
- president and countersigned by Alfred
! auterbach as treasurer. The trust company
went on 10 state that II was informed that
hero was an assertion that Lauterbach's
rarnc was forged to the checks, but that
n knew nothing Of the truth or falsity OF
his
ldore the trust company's answer was
,'iycd Mr.. Shattuok had begun another
suit as receiver against Alfred Lauterbaoh
o'trgstcc Of the insurance money demand
ng that he pay II into the funds Of the inn
'rovement company. That suit IA still
ending. Mr.. Lauterbach having declined
'o release his control CT the funds until a
Nnhl Judgment is had in the Supreme Court.
70 q further defence 70 the suit against II
no Guardian Trust Company pleads that
had it received notice Of the forgery before
Np!er died IL might have recouped itself, !