New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-04-02
MCAiL EXPLAINS
BUCKLEY LOANS
HIS PART IN PHENI4
CLEARED UP.
Justice Satisfies Dir. Hotchk1ss
That Checks Represented
OnIy Personal Adrances.


Justice Edward L Mccall, whose
name he'd been brought tnto the fire in
surznce investigation because OF certain
ch-c6s of his, and one Endorsement He
rla.ed ,,no., 2 check 10 W. H Buckley
frc-l, the Phenix Fire Insurance COM
ranv. Issued q long explanation last nisHt
which in the opiTion Of Superintendent
rFotoht.ss, clears him OF the implication
that he had been cognizant Of any jug
Cling oc the books OF the PheniN 10 de-
.-sixa the Stale Insurance Department
H. brief Justice Mccall explained th2t
his two checks 10 the Phenix were hand
O. Ia Buckley. The first for an interest
razrnent on his loan and the second for
= payment Oh the principal
The S35. .0eo check Of the Phenix :"
ssuclIey. which Justice Mccall ind"rsed
= ui1h fSuckley's name and then with ms
.-y,. after which he deposited II to his
o,s.,. account in the New York Security
I'D rrrust COMPANY has been in evi-
,lerce in the investigation. and Justce
NIcs-all explained that transaction also
Tsu-klev. he said, came To him in the
middle Of December, 1900, and told him
liza: $1,000 loan which he had with
.he North American Trust Company had
been ,aIled. Buckley had made arrange
merts for placing tie loan with inc
phcr,x. on the same collateral. hut there
was an interest charge Ot se.13l II over
the xS5 a0a. Buckley had been friend
q long standing. and his request was for
2 loan OF simply the amount of the in
terest. but as Buckley had TO leave the
city before the matter was closed ne left
81 fn ArcCeH's hands. with q letter RT-
1horizing the North American TO deliver
his collateral to Mccall OF payment OF
the Joan
Then Sr. Buckley arranged that rep
sentative Of the Phenix should deliver
-he $50 .ono check Of that company 20
NJ Mccall at h.s office and go With him
% the North American Trust Company
where the collateral would be delivered
. the new lender
Piaenix Cheek Explained.
o.r December N. 1900 therefore. Mr-
Mccall received the s35.0ao check Of the
prerix. made payable TO Buckley, and.
irdorsiny - with Buckley's name and
his own. deposited q to his own account
n the New yorf, Security and Trust
Company and drew his own check for
es3.-si Il - The Norti1 American Trust
,-or-nsfv Then with .he Representative
- TIE Phenix he turned over his check
% the North American end received the
,-e.ilaterai. delivering that in turn 10 the
Eos he
s. was making to Buckley.
Justice McCalrs explanation. written
r-it in full. with exhibits attached, wss
handed n Superintendent Hotchkiss last
night. when the two men met at the
civ Lunch Club rooms in the same
;.-i1,Iing. At No. 1s5 Broadway. in which
me Tnsur3nce Department has its offices
Tle Superintendent said he would make
-ha written explanation. with the ex-
3, bits 4 part Of the record cf the inves-
tf-arion. and would give them 10 the
public
Superintendent HotchSiss said later
shat he was glad 70 have the explanation
a-d hat the records on the books Of the
North American Trust Company and the
1rh=rsx Insurance Company. when read
r -onnectior1 with the checks Of Justice
IL. 4 submitted with the latter's state
l0a-. confirmed the facts set forth They
&C. explained the peculiar and previ
ofs,v snexp.icabIe. entries in the books
~ Re PheniK Insurance Company and
The correspondence between President
sheldon and AR. Buckley concerning the
rre-saclions evidenced thereby The Su-
; .~intsndent said IL Was IN be regretted
hat the facts had not been mace clear
some r Ays ago. when Mr.. Buckley was
ing examined. but that he was pleased
l,-s- 70 try to give the same publicity To
Justice NcCalTs explanation as had been
;.i.srl 70 the testimony Of MI Buckley.
Justice NcCaIl's letter follows:
n reference 70 the matter brought out
~ the iYlGriry YOU a-e now conducting. nd
Which r@fers 20 I1e and 10 checks which
r-e1e irdo-sed paid or received by me
y.-.I ina. .ol: Vii extend me the courtesy
- spreading uPO2 your minutes t!1S 1o-loW-