Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-02-24
FINANcIER REVIEWS HISTORY or
DEAL TO OLD FRIENDS At
ATLANTIC.
HOPES TO SECURE MORE
TIME TO COMPLETE DEAL
Claims to Have Gained Support Of
Dallas, Tex, Syndicate and Only
Short Time Needed to Complete %.
tails for Purchase Of Road-Appeal
Made to Enterprise Of Citizens.
Special to Times-Republican.

Council Bluffs. Feb. 24.-Ex-secre
tary Leslie NJ. Shaw, who has been in
western Iowa for the past ten days
trying to redeem the Atlantic, North
ern & Southern railroad, at Atlantic
yesterday made very lengthy state
ment in which he reviewed the history
Of his negotiations in tine railroad deal
and also landed on his alleged enemies
with great vehemence. The statement
followed q meeting at which there was
lively discussion upon the propriety
OF Judge Arthur granting the Shaw
syndicate still another extension of
time In which to make good on their
Did Tor the road Several of the speak
ers characterized the move as bun
con1be; that 1t was wrong to try to in
Huence Judge Arthur who is in pos
session Of all the facts and that there
was no reason to believe that Shaw
would be any better able thirty days
hence to complete the deal than he had
proven able at either of the numerous
days that had been set and passed.
when it was agreed she deal should be
closed. Others favered the plan and
finally a resolution was passed ex-
pressing the sentine Emit of the COM
munity that Judge SArthur grant an
ether extension next TUESDAY when the
date for the resale If the road arrived.
shaw's Positions hAisunderstood.
Mr.. Shaw, inshisflong review opens
by stating that a misunderstanding
has arisen regarding his connection.
With the deal. He says that he did not
buy the road and never assumed any
responsibility OF paying for ii, that al!
that he has done was to assist Mr.. P.
]. keiran, who had a contract for the
sale of securities to finance the Iowa
and Omaha Short Line. Mr.. Shaw tells
Of Mr.. Keiran's trip to Europe to dis
pose Of the bonds when, he says. tech
meal objections were made to the con-
tract which Keiran held; that they did
not like the American form OF power
If attorney but Notwithstanding he
says the European people cabled that
the money would be seat as soon as
the new power Of attorney" was Tor
warded them. Mr.. Shaw says that at
this juncture when the negotiations
were going on swimmingly "some SLY
Italian got bad report to the ears OF
these people and they dropped the
proposition absolutely. But Mr.. keiran
was not discouraged-he never gets
discouraged and seldom suffers defeat.
After some delay he made firm sale
Of the bonds to the National Invest
meut Trust Corporation of London.
These were not strong people. ana
never claimed to be, but all CONNER.
cia reports and all their references
gave every assurance that they nao
great placing power and had never
allied to dispose Of ar issue which they
had undertaken. Their representative
came here, signed an acceptance 1or
something over 100000, payable IN
ninety days. and returned home. Th:s
trust company in turn sold the bonds
to a syndicate in Paris. had the con-
tract signed, which was to have been
delivered next day, when the minister
Of finance gave instructions to the
district attorney not to allow an issue
Of foreign bonds without first investi-
eating the sufficiency Of the securities
back Of them. These were the simple
facts, and neither~the investment COM
pany, Mr.. Keiran or Mr.. Shaw merit
any great amount Of execration be-
cause thereof. I think 1 am the only
one who has the distinction OF naVins
been cursed on this side and occasion
ally to his face.
Balkan War Stops Loan.
:In the meantime the extension hao
about expired and Mr.. Keiran went TO
Brussels. l was IN Europe about that
time, and he cabled me to come to
Brussels. He brought one John Dennie
to the hotel to see me. DENIES checH
is reported to be good for the entire
s5,o0O,OOo (amount of the bond issue>
He promised ME positively the money
the next day, and I cabled. accordingly
to the judge. The next day Dennle
told. me that his associates were so
extended in a large Spanish loan which
he was floating that they did not want
to take this on Immediately. He
thought they would be. able to COM
Hete it in thirty days. / was discour-
aged: Mr. Keiran was not. came
home and Keiran then sold the oohos
to what is known as the Mannoerger
syndicate. Mr.. Mannzerger has asso-
ciated with him some of the largest
banks in Europe. l saw prospectus
gotten out in which the son OF the
president Of one Of the largest and pest
known banks of Paris was director
in the Iowa Short Line. 1t will be re-
membered that he sent over his indf-
vidual check for 5000 pounds. Another
-, ~ - IN ,(,((
\\13}fil l21A 2o1A VIZ