New-York tribune., 1908-09-23
HASKELL IN WALL ST.
MONEY WENT is HE CAME
His Railroad Schemes Brought
Deficit and Experience.

g-overnor Charles y. Haskell of Oklahoma
charged with attempting to bribe Attorney
General Nonnett with s500oe0 TO let UP on the
standard OH Company. is remembered vividly
= Wall street, where he spent three or four
Years in promoting various railroad enterprises
which left rather q bad taste in the mouth A
v,rng lawyer from Ottawa Ohio. he plunged
g7+o the stock 7otaticn game and. according to
-eoor1s in the financial district his associates in
many OF his concerns when they finished with
him had more experience but rather less money
rhan when they made his acquaintance
Haskell came 70 this city from Ohio and as
sociared himself with a group OF Ohio politi-
clans. who vibrated between uptown hotels and
downtown brokerage Offices. playing the mar
ket- and taking part in fotation schemes
The enterprise by which Haskell is remem-
be-ed chiefly in the financial district was the
r-eu1otion Of the Lima & Northern Railroad
later the Detroit & Lima Northern which in
-urn became consolidated with the Ohio South
err and the Detroit Southern. This original
road was planned 10 connect Detroit with the
Ohio coal and iron territory.
According TO brokers in the financial district
Haskell put out about s1oooOoo per cent gold
mortgage bonds Of the Lima Northern and more
than 100000 bonds Of the Detroit & Lima
Northern. These were taken UP for sale by
various bond and brokerage houses E. R.
Thomas was made president of the road but
before the necessary six months OF operation
demanded by the New York Stock Exchange
as z requisite TO listing its securities had been
completed a receivership became necessary
In September, 1895 one OF the contractors
brought suit against the road, and Jules S
Bache was named receiver Claims filed against
the property amounted to more than S1,000oo0,
and Wall Street men say that stock and bonds
had been issued TO an amount exceeding SS,O0O,-
600
a reorganization committee in the interests OF
the bondhoIders was named consisting Of John
2 Borne J. s. Bache. A E Merrill, Philip Leh-
man and E L. Oppenhetrn- They planned
consolidation with the Ohio Southern on a basis
of exchanging the Detroit & Lima Northern
bonds at par for the common stock Of the new
road-the Detroit Southern.
This itself. after three years, went into re-
celvership, and its common stock was never
known TO be quoted above $50 a share. Still
later. those Of HaskeIFs original bondholders
who had not abandoned their holdings got an
opportunity 70 change the Detroit Southern
stock for Detroit, Toledo & Ironton stock That
company is now in a receivers hands
wall Street was telling many other Haskell
exploits yesterday. but was chary Of going into
details. because Mr. Haskell now is Governor
Of Oklahoma and q considerable power in poll
tics and Wall Street men are not oVerfond OF
offending political powers that be. There were
stories Of q telephone company fotation IN Beau
mont Tex which didn't pan out well for IN
vegtors and others. F. J. Lsnan, OF F J. Lis
man & Co. said that he had known Of Haskell
n connection with the Detroit Southern, but had
had no personal connection with him He would
not discuss the politicians Wall Street career
I knew Haskell for over S25oo0 o00," said E L.
ODpenheinl. Of No 80 Broad street, but don't
want 20 talk about it
Il was said that Jules s Bache lost large
sun Of money in one of the Haskell enterprises
M Bache IS in Europe now.