New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-10-16
MORE ECKELS CLAIMS
SHOW FINANCIAL STRESS.
Light on Struggles of En-Controller
to SGUe His Fortune.
IBy Telegraph to The Tribune


Chicago, Oct 1.-THE financial straits in which
the late James H. Eckels, president OF the Com
mercial National Bank and at time Controller
or the Currency struggled for several years and
which came to climax with his sudden death on
April Il, 1907. were further disclosed by an ex-
haustive examination of the records of the
Probate Court to-day. Additional claims against
the estate which, If allowed. would bring the in
debtedness of the estate close to 81 10000 and sew
eral transactions which showed Mr. Eckelss efforts
In the last few months of his life to stem the tide
of financial difficulties revealed.
The claims which were originally filed against the
estate and which were disclosed to-day fol-
lows: William Solomon Co.. $50 q; the Securi-
ties Corporation, $4,000; National City Bank, New
York. ss2.Tn IS.
The claim of the National City Bank was filed
July 13 1908. three weeks after previous claim for
the same amount had been fled The first claim
was filed on June "A. the final date for filing This
claim was allowed by Judge Cutting. The second
claim filed. according to the records. after the
final date and was not allowed.
The claim OF the securities company was con-
tinued for hearing number of times and subse-
quently was dismissed October s. 1903 The dis
position of the claim OF Solomon & Co. does not
appear in the records.
Other court records throw light on Mr.. Eckels's
later financial transactions. Among the documents
filed with regard to the administering of the estate
is order OF Judge Cutting, granting permission
to the administrators to assign and transfer to
IHlS L. MdTSndls OF new 1Ofks forty shares O1
capital stock of the Phoenix National Bank. of New
York.
The petition filed by Marshall states that, about
November l. 1906 he sent to Mr.. Eckels fifty shares
of Phoenix Bank stock to be held for him. He states
that he heard nothing from Mr.. Eckels and wrote
hinI concerning the transaction. On March g. 1907,
Marshall states. he received letter from Mr..
Eckels saying that he had mislaid, but had just
found the stocks, and incosng 1916 Is in payment
Mr. Marshall stated in his petition that the market
price OF the stock s1SS 25 and that he wrote in
reply TO Mr.. Eckels that he might keep ten shares
of the stock for the amount Mr.. Eckels sent him,
if he wished, but to return the remaining forty
shares. The petition AYERS that the forty shares
never were returned by Mr. Eckels The shares
returned by the administrators on Judge Cut
ting's order.
The petition of John p Hopkins. formerly Mayor
of Chicago, in support Of a claim against the es-
tate for $39 $780, charges Mr. Eckels with wrongful
conversion of a part of the collateral the latter
has pledged to secure loan of $4,000. The petit
ton states that Mr.. Ecels gave $50 shares OF capt.
tai stock of the Universal Adding Machine Com
pany as collateral and subsequently obtained the
return of the stock on the plea that the company
was to be reorganized and the stock exchanged for
stock in the reorganized company. Mr.. Eckels was
to return this new stock TO Mr.. Hopkins Mr. Hop
kins states that he requested the return Of the
stock in November and December 1906 but that
Mr. Eckels pleaded delay in returning the collateral
on the ground that the reorganization of the COM
pany had been held up temporarily. The direct
charge of wrongful conversion is as follows:
Your petitioner further represents upon informa-
ton and belief, that the said James H. Eckes de-
ceased, after receiving the said three hundred ana
fifty-shares of stock of the Universal Adding Ma
chine Company delivered portion of said shares
to Charles F. Spalding for the purpose of securing
a loan of money from said Charles F. Spalding
The inventory of Mr.. Eckels's personal property
as filed in court contains an item of 90 shares
OF Universal Adding Machine Company stock. Mr..
Hopkns's petition prays that this stock be turned
over to him by order of the Court, and that he
be allowed "as damages thereof the said estate for
the wrongful conversion thereof. the value at the
da,e of said conversion of the remaining go shares
Of the stock of the said Universal Adding Machine
Company"