Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1912-04-24

mot speculation. Apparently ne Was
successful in interesting men in the
idea, perhaps because, as q DR.. Will
lam Fl. Morgan points out, he has a
magnificent personality"
AT any rate, he has admitted through
his attorney, Nathan Giffin, of 81 Mas
sau street, New York, that his liabili-
ties exceed s175, 900 and his assets do
not exceed 100000.
Big Donations TO Church.
Gifin went into a detailed explana-
ton of the disastrous termination of
Rogers navigation of his financial
scheme.
Rogers is absolutely a financial
wreck he said. HE was captain,
first mate, second mate and the whole
CREW, and he sank with his ship. That's
the whole story.
A few years ago Rogers had a for
tune of about 5000, 600. He presented
$4,000 to st. Luke's Church in Newark
and gave ST. 900 to the First Methodist
Episcopal Church, Asbury Park.
II met him in a casual way two years
ago going to and from the seashore.
He asked me finally If ] would do
some legal business for him. He said
it was imperative to raise $4,000 imne-
dia +al,, re- naaded n e. .ra.+ore his
canitaI, he s.id H. axnlainad that one
80 III anss,sn .as eoo ooo r;gbt
a,avp
Says Rogers Is Wrecked.
1T told him fro rlsl,, that he xcas in
so1vent snd tbat he co,,ld do nothing
T,,an I Found n,t tbat c,,r,,s Shenard.
NV uncle WIS ono ~ tho nr~incipal
creditors 7 yvaa astounded toId
Mr. Sbsnard ebout Roeers
Innossible. he said. i've known
the mar twentv-ave years, Mr. sbep-
ard Is hit for az OOo and-well. that's
big sum The assets are "a. 800 in
cash and / $500 in stock. The furni-
ture is worth h 500
saThe trouble with Rogers was in his
investing He had n system OF figuring
his losses on paper and counting his
profts as real. nyway he is n fnau-
f.iaI wreck. ue has lost everything.
~ have talked To about I5 per cent.
of the creditors and they agreed they
! didn,t wont to go into banilruptcy and
have the administrator take all that
was left
In thar celebrated ease Gittin made
an a vi. in which he syore Tho si1rn
of the assets of the concern had been
assigned 10 him in lieu of back salary.
II is still beinr fought out before
Referee Adams.
The "Rogers poor' guaranteed divi-
denda ~ not less than X nor cent n
gear These were to he Maid in monthly
1mants and for q time the in.
,estors received SUNG renresented n
he bona -ide dividends. But b~v-and-bv
the div,dends dwindIed until thew dis
annasrea The s.noor, star+ed IN
afarob taos ara tho averaee nroats
ror tho arst wear p-ere 10 &c ner cent
Tho nlan was evo,vad b,, Pogars
ofto. he lot poctoPa,,ar,s o,nn,o,, No
,nanaoad To carry our his nromises Of
big diyidands fo,. soma tirne Tast
An,nst Cor instance he ,naid a. the
80 - 90 nar oant go 80 q,
senteynhar az s61k
,rhe nac,,liar mart ~ The hreak,ns nm
of the nooI lies IN tbe Sact tbat Even
thn heav,est Iosers sa.r, d;snoaaa 10
aid t3orars ,n 1(aan;nS n,t IL hanltz
,,n+cJ Tbis nav he duo howayer IN
The ronomh ra nee ~ tba Consolidate
PRINTING Telegram comnanv's linger.
ING daath MANY of tha men who were
warned hv pogers &c "raforencesp in
drnmmine nm trade for his stocL in
vestment nooI admitted TO-DAY that thew
knew him ana gave hin, ner,nission 70
use tbeir names
pey nr m;uisrn II Nsoroon ,,astor
of the Central M. p. church unhesitat-
inalv declared that he had known
rogers for some time ana had wears
ago given permission ia nse his name
os r~eference "Howeyer" said ~
Morgan IT know pooers onIt az a
cburch member mt ass h-us;nass nsan
! knnr, notbino obo,+ h,.innss -
wall streef and was not ne~rsonai,v In
terested in his business transactions
Rogers ;s a maani6cent non neysan
a,Iv and r .,,n,osa + nar. -
r. 'se NV narne 1Jaars oga u,ba. ~
6rst started mt ;,
Rev .Tan,es II uacporo,d -
o,argvrnan whose na,,o - ~
tho poeers nrosnactns as r oh