New-York tribune., 1909-04-25
MCARREN PAYS PRICE
Nerer a Nurmur When He Passes
Orer S45I.00G Chcck.

without a r'urmur Senator Patrick Fl. McCaTren
turned o,-ar 10 Lindsay Russell, receiver Ior the
bankrupt firm of Ennis & StoDpan- cerlIl''i
c,ocl, for S55l and some odd dollars NesJei'iaS
morning In he received stocks c'edi'eu u
llis name on the books Of the concern Nalueu ~
about Ss5e OaO Al present prices This tallsiS'ii
increased the assets of the failed firm little no'F
-bsn S1a0 00G and blind account NO 55F, WINCH
v-ss traced so The Senator after the failure "''s
closed.
con- ile books of the firm it was figured that Nc
,-arr.7 owed s1s4. .0e0 and lie 10 have given a
-,. for Sa7e COO TO obtain his stock, but the Sen
stor who has keen eye for figures, even II he Is
q moor rrorrpt on the market Objected 10 the fact
-hat compound interest had been charged against
hifr Furthermore. he had not been credited with
2 dividend on copper which had gone TO the hrTn-
The interest charge figured by conpounulhS II
monthly amounted TO some SSS00o-
In view Of tie willingness with which the Sella-
ter had agreed TO settle his account, Mr. RusseH
thought II no than fair 10 charge nm Oily
simple interest. Beducting the difference between
rhe Two Interest amounts and the amount Of the
Aualgamated dividend made the senator's debt
100000
Mr. Russell has NOT said whether the stocks had
actually been bought when Senator McCaTren Was
charged with them in 1906 but the general belief
* that the receiver bought them in the market
within the last few days
Yesterday transaction was made through J. :
Bache & Co. bankers and brokers, at No Z Broad
wav. whom the McCarren account had been
transferred. 1t had been announced that the Sen
ator would settle the offices Of Mr- Russell. No.
los Broadway, fC:2o a but when the receiver
saw a crowd of newspaper men in the hall waiting
TO witness the transaction he arranged by tele-
phone 10 so % the Bache Offices But the new
rendezvous was discovered, and the principals ex-
planned the happenings.
A check for Sl51.GG0 on the National Bank of Com
nlerce. made out 10y J. s Bache & Co. handed
10 Mr Russell who delivered the stock and signed
q release for the Senator The latter turned the
stock certiacates-for 25a0 Amalgamated Copper.
ECO Brooklyn Rapid Transit and 80 Rubber first
preferred-over to W J Woman. Of the Rache
firm. 10 whom he had previously given check for
the difference in value between the stock and
s45Leg1
From the fact that J. s. Baohe & Co. have a
branch Office Albany the Capitol 1t Is as
sumed that Senator McCarren does not intend to
abjure the market" III the future just because il
his stung him once.
Asked how he happened 10 choose such a bad
tir1e 10 into the market. Senator McCarren re-
piled: oh. I must have been bull on pros
peritv. I for that matter
1t learned yesterday that blind account No
S3g" traced to Senator McCarren through a
private letter book found in the safe Monthly state
nents sent to the Senator in his name
and copied in this book although the account books
contained only the number
The creditors committee. of which Herbert A
Heyn is chairman, met yesterday and mapped out
its work. Heyn & Covington appointed coun-
sci The committee VIII cooperate with the re-
ceiver and viii try soon as possible learn
how each individual account stands.