The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-02-06
MORSE MISSING
FROM NEW YORK
Property of the FinanCier At
tackled in Suit Brought by
Bank Examiner Hanna.
HOME HEAVILY M0RTGAGED
TROUBLES FINALLY PROVED IN
SURMOUNTAsLE.

New. York. Feb. 5.-Charles W. Morse.
organizer Of the American Ice company
and of the Consolidated Steamship com
pany. could not be seen tonight regard
ing the court actions instituted against
MIN today. He was not at his town house
here, it was said, and it could not be
learned that he was either in Boston or
at his home at Bath. Me
His creditors today attached his prop
erty in this city, including his residence
at as Fifth avenue in suit begun bv
Charles A. Hanna, national bank exam
iners as receiver of the National Bank
OF North America, which Morse con-
trolled.
In the papers on which the attachment
was granted it was stated that Morse
| had probably left for Europe or depart
ed elsewhere from New York within the
last few days"
Judgment by Default.
A judgment by default for So, 753 in an
| other suit was also entered against him
today.
Morse whose wide-embracing opera
! tons IN the business world had made him
one of the most prominent of financial
men. has been seriously involved recently,
consequent upon the money stress and
| banking troubles.
So far as known Morse had no press
ing engagements which would keep him
IN the city just now.
The New York county grand jury has
| been investigating the local banking stu
alton and some of the transactions which
iAt dAitEtQ 70 nave ntlDe0 10 make pos
sible the recent series of financial calami-
ties. Morse has appeared before the jury
to give that body such information on the
situation as he possessed.
Secretary Does Not Know.
Arthur Braun. private secretary to Mr..
Morse, said tonight:
Il have not seen Mr. Morse since one
| day last week. l do not know where
he is. I know nothing about the reports
which have been circulated about his
| probable whereabouts. and / could not
| help anybody to find him"
Mir. Morse was called to testify before
d referee in December and January In
regard TO loan Of S200000 which he OBJ
| tanned from the knickerbOcker Trust
company in October. 1906 through the me-
/ dunn of the cashier of the National Bank
| of North America. The referees report
on this loan was filed with Justice Clark
| in Nthe supreme court in Richmond two
weeks ago and there has been no ruling
/ on 1t to date.
| Mr.. Morse has not been seen in the
| financial district this week. but a close
! friend is authority for the statement that
/ ne saw him Monday and thai Mr. Morse
told him at the time that h ended TO
go to Europe. No steamer y AfOr Eu-
rope on Monday and Morse .sson the
Troubles PiIing
! Troubles have been piling thick ana fast
! on Morse ever since last October. He
was involved in the unsuccessful corner
/ in United Copper stock engineered by T.
Augustus HeinZe. which marked the be
| ginning of the panic When the corner
went to pieces and United Copper stock
came crashing down. ii was reported that
/ Mr.. Morse had sold out the other members
/ of the pool and had caused the slump. AS
/ the stock and bonds of the Consolidated
! Steamship company-the latest and great
/ est Morse undertaking declined with
! sensational rapidity when the corner
/ failed. it is question just what part tho
Morse transaction
/ The failures of Otto Heinze & Co. and or
Gross & Pleeberg were soon announced
/ Then followed i'm quick succession the
| designations of Morse from all the bank
/ ing institutions with which he was con-
nected the failure of the KnicksrbOcker
I Trust company. the closing of the Hamil-
/ ton bank and half a score Of small Brook
/ Ign and Harlem institutions. the forced
withdrawal of Edward r. Thomas and
Orlando r. Thomas from the banking
field the suicide of Charles L. Barney
and the spread Of the panic over the Unit
/ ed States and the civilized world
His Home Mortgaoed.
| On oct %, at the beginning of the pam
| ic Mr. Morse mOrtgaged his Fifth ave-
nue. house for $4,000 to John r. Berwind.
J The property carried a prior mortgage of
/ $4,000.
! With the subsistence of the panic the
/ weakness of the sO-caIled Morse banks
/ became apparent and this eliminated re-
| Gently in the suspension of the National
Bank of North America and the New Am
! sterdam National bank, which were
/ looked upon as the two most important
/ Morse Institutions Then followed the re-
ownership for the Consolidated Steamship
company and several of its subsidiaries.
! Mr.. Morse and the late Charles L. Bar
ney organized the American Ice COMPANY
/ ten years ago and Mr.. Morse first came
I into prominence in connection with, this
company