New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-17

covery yesterday that the company had
borrowed money on warehouse receipts
for 500 bales of cotton. j. T. Spcers.
warehouseman OF the only warehouse
concern used 10y the company. says he
knows Of only ninety-thrce bales cred
tied to the company.
II. $. Russell. of the Fourth Ma
tional Bank. New York city. 10 which
institution. he says the concern was
indebted TO the extent of $1,000.
after an Investigation stated tonight
that his bank was fully protected both
by warehouse receipts for cotton,
which nc believes genuine. and by
other securities ass well signed by
Joseph W. Martin and his brother
Napoleon Hill Martin. \ similar
statement Was made by Fred j. Paro.
Of the National Bank Of Commerce,
-. Louis.
other creditors. however. chief among
them being the Crittcnden Mercantile
Company. Of Earle. Ark: the Bariield
Mercantile Company Of Bariield. Ark,
and j. T.. Rogers. of Friars Point,
Miss. are rcticent as To their plans.
Mr.. Rogers stated that the firm was
indebted To- him 10 the extent Of so.
600. for which he had absolutely no Sc
curity.
il is understood that on Thursday a
family council of all those affected
will be held and plans set afoot to come
TO the rescue OF the concern This
family conference, it is believed. will
result i'm settling the affairs of Joseph
". Martin so rs To clear way for him
TO return. If he is alive. Persistent
reports that Martin is alive and has
left England for some other country
where IL would he difficult 10 eXtradite
him in case criminal proceedings on
the charge of forging warehouse re-
ceipts precipitatcd a call for the family
council.
Fontaine Martin, brother of j. w.
Martin and secretary Of the Martin
Phillips Company. said tonight that
the cause Of the return of Napoleon
Hill Martin and the decision for him
10 abandon the trip To Europe was for
him To be here To attend TO the straight
ening out Of the tangled affairs of the
concern. He denied the report that
word had been received in New York
that Joseph Martin was alive and that
this decided his brother To return.
The Martin family is awaiting i'm
patiently the opening OF Joseph w.
Martins safety deposit vault in Lon
don. believing it may contain valuable
papers or securities, evidence as to
whether ne was successful in his mis-
sion to raise funds among English cap
italists.
- firmly believe" a friend Of Mar
tins said Tonight. that the English
canitalists involved in the proposed
land deal became scared by the local
flood conditions causing breaking OF
of negotiations after they had seem
inoIv been closed and resulting IN
ho.,v disappointment 10 Joe Martin
Fontaine Martin. secretary OF the
companv. denied he had had any per-
sonal knowledge of any irregularities
regarding warehouse receipts. He said
that Joseph Martin, as president had
attended TO all these matters.
81 believe my brother has been muir
dered There would he no question as
TO the financial condition were he
alive" he said.
speaking of the decision OF his
hro,ber n Hill Martin. to return TO
,,,.,. ,rom New York instead of
going on to London, he SAID;
we felt we needed him here and
sent him a telegram TO that effect. No.
we had received no new Information
concerning my brother joe