New-York tribune., 1911-12-31
HAD S85O,OOO;; BANKRUPT
Petition Filed Against G. Q.
Draper, Head of Many Concerns.
INVESTMENTS UNFORTUNATE
Liabilities Are Said To Be More
than 00,00O-Court APP
points a Receiver

Creditors of George Otis Draper, who
lives at the Great Northern Hotel, No.
11S West 57th street. is president OF
half a dozen corporations, son Of for
mer Ambassador to Italy nephew OF
former Governor of Massachusetts and
who inherited SSJ0,OO0 within the last
two years. yesterday filed "a petition In
bankruptcy against him. Judge Holt
appointed Frederick G. Mclaughlin re
ceiver on application Of Lesser Brothers
who presented an elaborate statement
Of his affairs TO the court. The receiv-
er's bond was fixed at only 5000.
Lesser Brothers represented these
creditors: Johnson & Murphy, Sl,4l4;
Slater & Morrill,, Inc, $l.TS0, and the
Smaltz- Goodwin Company, $2.33l, all on
judgments obtained in September last
Lesser Brothers said it was impossible
to estimate the liabilities, but they
would probably exceed 100000. The
value Of the assets is unknown. Mr..
Draper had signed many notes. they
said, indOrsed many notes and was la
BILE as a guarantor. He inherited 500
900 from his father, William +. Draper,
Of Hopedale Mass, and S1JO,OJO from
his brother. William f. Draper, ir.. who
died in March. 1909. A large part Of
this money has been sunk in unfortunate
investments in various companies and in
mining concerns. He sold his house IN
Hopedale, Mass, in March. 1909. for
$500. 900 to a relative. He invested
$50. 600 i'm the Draper Hansen Com
pany. advertising agents; 100000 in the
Draper Realty Company, Of Bayside.
Long Island; $4,000 in the Phillips
Manufacturing Company. S24OOD In
mining ventures and other sums in vari-
Gus companies, among which were the
Snug-and- Easy Shoe and Last Company,
the Queens Match Company, of Passaic,
n. j.; the Hemenway & DraTer Com
pany, which owns a patent on form Of
chair; the Harrington Company, Of
Jamaica Plains, an interest in an arti-
fetal rubber process, and an interest in
concession in Costa Rica granted to
Hollis White, Of Boston, who died sud
denly.
lie was president Of the Phillips Man.
ufacturing Company, Of this city; the
Draper Hansen Company, the Draper
Realty Company, the Harrington Manu-
featuring Company, of Boston; the Coal
Treating Company, the Hilton Manu-
featuring Company, the Sapphire Record
AMI Talking Machine Company, the
c,ohol, E'iroproofnp CprprarV tho Inn
perIal Lumber Milling Company and the
Draper Latham Magnetic Company. He
was also interested in the King-LansOn
Car Company, the Bowen manufacturing
COMPANY, the imperial Lumber Milling
Company. the Ney da Salt and BoraX
Company and the Lake Superior Cola
and Copper Company. He paid SlJJ.OOO
fo, stock in the United States BOraX
COMPANY, giving $4,000 cash and a
SID 600 note from Robert s. Ross. who
held the stock as collateral and sold il.
He purchased $3OOOOU worth of stock
in the Mexican Metals Company by pay
ins $4,000 cash and $4,000 notes The
cash was borrowed from Georgc T.. Keith
and others. to whom ne assigned the
stock as collateral. and the company has
obtained judgment against Nr. DraIer
uTon the notes His real estate at Bay
81, g is under foreclosure: ne was inter
ested in some land at Harl II. Ky, but
the title is disputed. He Iolds notes
Of various companies the value Of which
is uncertain.
II is said that notes for upward of 500
900 purpor:ing 10 bear his signature,
which were negotiated by Boston
broker, have turned out to be forGcTies.
ana the broker was indicted in Boston.
Mr. Drapers wife, Lily ID. Draper Ob-
taned divorce from him in Kentucky
eight y,ars ago. and he had to pay >3,-
800 a year alimony and property To he
amount of $1G0.OOO was put in the hands
Of trustees To guarantee payment Of the
nllmOnN.