New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-04-18
M'CARREN TO SETTLE
TALKS WITH RECEIVERO Of
ENNIS s STOPPANI.
Wall Street Wonders Ho1o He Vent
Long" in Rising Stocks and
Lost So HeaUiLa.

Senator Patrick H McCarren, whose Indebted
ness of $4,000 to the failed firm of Ennis &
St0ppani became known on Thursday through
the disclosure of his identity with blind" account
No S39 on the books of the firm. in com
munication yesterday with Receiver Lindsay
Russell. to whom he expressed willingness to
pay what he owed
It is understood that the Brooklyn Senator
will call on the receiver tomorrow and settle
his indebtedness to the firm In that case, 1t Is
said. it will not be necessary for him to appear
before United States Commissioner Alexander
on Tuesday. Senator McCarren told Mr.. Rus
sell that the reason be had not settled his &C
count was that he had not received any state
ment from the firm in a long time and did not
know the amount OF his indebtedness
The books show however, that regular state
nents were made to the owner Of account No
339 but beyond sending the statements the
firm does not appear 70 have pressed the Sem
ator for payment and its failure to do so Is
puzzling the receiver. Wall Street is asking
why It was that the Brooklyn Senator was
allowed to remain so heavily in the firms debt
and also, in view of his statement yesterday
that he was long of stocks" how the indebted
ness was incurred.
The account shows that the principal stocks
dealt in were Brooklyn Rapid Transit and ANAL
gamated Copper. both OF which have made sub
stantial gains since early in the year. The day
before the failure on April II. Amalgamated
Copper touched 1914. which was a gain OF 1874
points from the low point OF the year. touched
on February IS Brooklyn Rapid Transit ad-
vanced from So on January 9, 20 TN. on April
IL. which is the high record for the year.
The expert accountants who are at work on
the books OF the firm had not succeeded yester-
day in tracing any more of the blind" accounts
hope to know more about them by Thursday
when they expect to have ready a preliminary
statement of the firms assets and liabilities to
submit TO the creditors. who are 20 hold a meet
ing that day
Receiver Russell said yesterday that the in
vestigation proceeding as rapidly as pos
sible. He has not yet heard directly from
either of the partners of the bankrupt firm
None OF the process servers who were sent out
to serve them with subponnas. calling for their
appearance before Commissioner Alexander on
Tuesday for examination in regard TO the fail
ure had been able to find them up to q late
hour yesterday. although they were reported to
have been seen at various places about the city
The only person who is known to have been in
communication with them since the failure is
Treadwen Cleveland. their attorney. and he has
declined TO reveal their Wherea bouts 70 any one
According to the best information. however.
they have both been staying at Mr.. Ennis's
house. No. $50 Park Place, Brooklyn, although
their presence there has been denied
Yes I have been a customer of the firm for
the last six or seven years, dealing In stocks on
q margin, but 1 cannot say how much I owe
them" said Senator McCarren yesterday. TT
may be as high as 100000. but think it is less
than that.
Il have not had a statement from the firm In
a long time. and hence I cannot say what my
Indebtedness is. Whatever II is. 1t will be taken
care of by me, and the firm will not lose penny
through me. You can emphasize that fact as
much as you wish.
II had been dealing in large amounts of stock
on margin IN lots of few thousand shares I
am long of stocks and will take them off the
ceVers hands
Senator McCarren said Ennis. one OF the part
ners was a friend and that he had known him
for years. The firm. he said. had never asked
him TO pay up. He did not know. he said. where
ET1Di "