New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-11-28
.EX-BOSS SMITHS
ASSETS Sl92,277.
Trustees Statement Shows
Newark Newspapers
Heaviest Burdens.
POLITICIANS NOTES
FIGURE IN LIST
Friends Discuss Plan for Sub.
scribing to Fund to Aid
Former Senator.

Disclosing an appraised value OF only
S192,277. a statement OF assets OF
James Smith, jr.. ex-United States SEN
ator. banker and manufacturer, VINO
failed week ago. owing an estimated
debt of about s1,750,0OO, was filed in
the Office Of Surrogate Sucker in New
ark. yesterday. 1t was compiled py
the Fidelity Trust Company, as trus-
tee for the former Senator. II shows
that the greatest burden Mr.. Smlth
has had to carry were his newspapers
"The Morning Eagle" and The Even
ing Star" published by the Newark
Daily Advertiser Publishing Company
Coincident with the filing OF the
statement. it was learned that Arthur
Brisbane, Hearst editor, visited the
Smith newspaper plant on Friday lie
was accompanied by Christian Feigen-
span, who succeeded Mr.. Smith as pres
ident of the Federal Trust Company,
and a representative of the Fidelity
Trust Company. which is receiver for
the newspapers. The Fidelity officials
declined TO discuss the Brisbane visit
further than to say that there had
been no offer made for the publica-
tons.
Il also became known that number
of business and political friends have
interested themselves in a plan to
financially rehabilitate Mr.. Smith.
This movement. it is said. has not yet
taken definite form, but it is under
stood there are several men financially
able who are willing to subscribe to
fund TO aid the former Senator.
Borrowed on Life Insurance.
The schedule of Smiths assets shows
that Mr.. Smith borrowed extensively
ON 100000 worth of life insurance
which he carried.
Only part of Smiths Obligations
are shown in the statement, as cred
itors have three months in which to
file their claims. Included as a posi-
lie asset is litigation pending between
Smith and Charles NJ. Schwab for fees
alleged to be due Smith as receiver OF
the United States Shipbuilding COM
pany.
Among notes in the schedule of as
sets is one for $3.50, signed by Charles
Nelson Reil. husband of Adele Ritchis.
the actress. Another is for $500, dated
December 81. 1914. signed by State
Senator George +. Martens, jr., OF
n bn reelected
at the recent election. Another note,
given by Colonel f. l.. Price, is for
$3.50. .
OF recent date, and for amounts Of
$500 each. are two notes of ex-Sherifi
William Harrigan, who was elected
Sheriff of Essex County in 1908. after
a spectacular campaign in which he
bitterly assaulted Smith and James H..
Nugent in his attacks on bossism.
These notes are dated September I ana
September II, 1915.
Publishing Bonds a Chief Item.
One of the chief items of the former
Senator's holdings are bonds of the
Newark Daily Advertiser Publishing
Company, of which there is an issue of
100000. Mr.. Smith was the principal
holder of these, and they are appraised
at % cents on the dollar. The bill Of
complaint upon which the Fidelity
Trust was named as receiver Of the
Smith newspapers placed the liaoili-
ties of the publishing concern as ST.
10000 in excess of the assets. The
total liabilities were estimated at ST.
790,101.12.
The assets as listed by the trustee.
Il was explained. represent ali that
Smith has with which TO meet what
ever unsecured liabilities may turn up
between now and the time limit for fill
ing claims.
While it is shown that Smith was the
holder of many valuable securities,
there is the evidence that to a large
extent they were pledged for loans.
The stocks and bonds Of the former
Senator total s306.250. subject to a
claim in excess Of the value.
The Fidelity Trust Company. as re-
oeiver. took active charge Of the Smith
sterday. II was said the
publications would be sold as soon az
reasonable offer was received for I
them.