Arizona republican., 1914-12-26
'FfNANC|ER |S
 SOME COME BACK
Charles W. Morse. Suppos- ed Year Ago to Be Dying Man, Very Much Alive This Year With New Steamship Line
Especial to The Republican3

1 NEW YORK, Dec 25.-Charles w.
 Morse. who was only a short time ago supposed to be a dying man when
 serving his sentence in Atlanta, is very much alive this Christmas day He is celebrating his come back in , the world of finance, and will to- , morrow see the first sailing of his new steamship line to Bermuda. The veteran steamship promoter, undaunted by the blasting of his fondest hopes when, as q result of
 the financial panic of 1907, he was convicted and sent to jail, is again g power in the promoting world. He i is head of the Hudson Navigation
 company, and will now direct the operations of the new Bermuda line. His fight to regain his lost prestige in the steamship world is being watched. and he has abundance of financial backing to launch his new development schemes.
 It is recalled that Morse planned the great Eastern steamship com pany and many other coastwise lines along the Atlantic coast. His wide scope of operations made him power in New York finance. He was president of the National Bank of North America when the financial
 stress, in 1907. drove the institution
 tu the wall Morse departed for Eu- rope when the storm broke over his
 head He returned the following year to face the accusations that
 were brought against him, and was
 indicted on twenty nine counts. in- cluding conspiracy to defraud the
 United States government. the mak
 ing of false entries in the books of Ia national bank. and the misappiica- tion of it's funds. F. Augustus Heinze who was associated with
 Morse in financial ventures. was also
 indicted, but he fared better than Morse in fighting the government cases
 After being sentenced to fifteen years in the federal prison in At lanta, Morse gained temporary re- lease He kept his nerve and kept his word with the creditors. and paid off more than $5,O00,00O of his 5000. 0N0 indebtedness and went so far as to try to secure back again some of the steamship lines that had been merged into a consolidation that was the real beginning of the downfall of this remarkable man.
 This untiring effort to revive his fortunes, pay off old sores. and be- gin again square with the world did not avail ana Morse was finally called upon 10 relinquish his opera
 tions and enter the Atlanta jail. Al though Judge Hough, who sentenced
 Morse. declared his crime was scheme to use the money uf the
 bank of which he was president for
 his own speculative purposes, Morse
 contended that he was convicted il- legally because the testimony showed that the bank had not been de fIauded but had actually profitea from his transactions. He also claim ed the judge had erred in telling the jury that convicted him that it was not necessary to prove that he lad intended to defraud. but only necessary to show that he had de- ceived the officers of the bank In Morse's case the charge was that he had misapplied the funds Of
 tEe Bank of North America hy in- Nesting them in his own securities. particularly his ice stocks. and that | he had sought to conceal this from l the comptroller of the currency by false entries on the books, making 1 it appear as if the securities. were collateral fors loans instead of in- vestments.
 The release of Morse from Atlanta was hailed with great joy in finan- cial circles. where Morse had re- tained nearly all of his friends. Morse's return brought fear into the camps of his enemies. For tho world of finance breeds many feel ings and Morse's success aroused
 some jealousies. There were those
 who chuckled when the panic of | 1907 broke and swept away like q
 house of cards the institutions he | had believed so strong. It had al- ways been believed that had Morse
 been given little time to avert the
 catastrophe, there never would have
 been any indictmnts. and his if
 nancial power would have grown to
 an enormous size.
 l A large number of friends will to-
 morrow cheer his steamer Oceana
 which will sail for Bermuda under ' the American flag. the first Ameri-
 can steamer ever 10 sail from an
 American port to Bermuda.