The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1909-10-21
ECKELS ESTATE
IS |NS0L VENT
FINANCIER'S DEBTS EXCEED 81 ,ooo,-
900 WHILE VALUE OF PROPERTY
is ONLY HALF THAT.
WRONGFUL METHOD CHARGED.
John P. Hopkins Declares Former Comp
troller of Currency Converted Col
lateral Pledged as Security.
MADE MANY PERSONAL LOANS.

CHICAGO, H.. Oct. Differentiation
to Judge Cutting in the probate court
yesterday Of more than S25O,OOO worth
of claims against the estate of the late
James II. Eckels revealed the insolvency
of the estate of the former comptroller
Of the currency, who, at the time of his
death was president Of the Commercial
National bank and one of the foremost
fnanciers Of the nation.
Claims totaling more than $75OOOO
had already been allowed against this
estate. and the prospect Of carrying this
total over the $1,00O,00O mark seemed
completely to wipe out the approximate
total of 100000 worth of assets shown
by the inventory in the estate. The orig
inal petition for the appointment Of ad-
illustrators placed the value Of the es-
tate at only S150,00O.
Made Many Personal Loans.
BY far the largest portion of the
claims which have been filed III the
probate court is for money advanced to
the dead banker as personal loans, and
many of them recite in detail stock and
bond transactions in which lie was in
volved.
The following are the claims on which
Judge Cutting set October 2S as the date
for a formal hearing:
Abraham g. Becker, S1l9,Sll. 6I; \.
Is. Leach y Co., S6l,4S9,67; Pittsburg
Trust company. $4,000; Farson, Son X
Co. $50, S2O56.
The following claims had previously
been allowed by Judge Cutting:
go Morton Trust company of New York,
S2G4, 1875; Hanover National bank of
N,,I~ "A .. ~
bank of New York. S9I 2O2. 80; William
Solomon Il Co. S5S,515.S6; John =. Hop
kins, $39,365; Roger G. Sullivan, SOS
2Oo.l2, Peoples State Bank of Detroit,
S25,9O.06: William Capesius, $50 900,
Harry Benedict, Sl3,S24; First Nation
al bank of Chicago, SS6O7.7l; William
6. Gurley, $G5T3.36; Thomas A. NARROW
$533l33; La Sale State bank, $53O6.66
Farmers National bank, 1921 81; Ladd
& Tilton, $i2Go; National City bank of
Ottawa, Ill, $4215.33; Hackley National
bank, $12i9G0.
Wrongful Conversion" Charged.
In connection with the claim Of John
l.. Hopkins, the latter has filed ped-
ton charging the late Mr.. Eckels with
the wrongful conversion" Of Il portion
of the collateral the latter had pledged
as security. According to Mr.. Hopkins
petition, Mr.. Eckels secured the return
of part of the cullateral-35O shares of
the capital stock of the Universal Add
ing Machine ccmpany--on the plea that
1t was needed in the reorganization of
that corporation. Later former Mayor
Hopkins charges, Mr.. Eckcls made use
of a portion of this same stock to secure
another loan from Charles Il. Spalding.
So far no hearing has been had on Mr..
Hopkins petition, filed after his claim
for S39,3G5 has been allowed. In it he
recites that he loaned Mr. Eckels $40
600 on January 81. 1906, and $4,000 on
May 8, 1906, receiving therefor as col
lateral security the $50 shares of Uni
versal Adding Machine company stock
and 2l0 shares in the Fay Sholes com
pany. October 20, 1906, the loans were
consolidated, and Mr.. llcllcs gave Mr.
Hopkins a single note for the So, 900
and the same collateral.