The evening world. Newspaper, June 25, 1914, Page 1

-BANKERS Tay AGREED ON $30,000,000 ~ TO SAVE CLAFLIN FROM BANKRUPTCY COMPLETE NOVEL EACH WEEK. IN THE EVENING WOR!, __ PRICE ONE 0 Che [a Cireulation Rooks Oven to Aft?\ Rooks Onen to Atl.® ENT. Copyright, a Re Frese Publishing [ “Circulation Bo Books Onen to All.” ) Tae Se Sik WEATHER—Falr to-night and Friday; cooler , Fanos heisniothniacnanas NEW YORK, “THURSDAY, JUNE a5, 1914. STAINED FLATIRON Faun IN HOME OF WEALTHY WOMAN WHERE OFFICIAL WAS KILLED: Stamford Chief of Police Says It Fits Dent in Councilman Ballou’s Hat. PRODUCED AT INQUEST. Friends of Mrs. Angle Greatly ’ Surprised by the Latest Developments + Special from a Staff Correepondent ot The Evening World STAMFORD, Cono., June %3.--The continuation of the inquest this after- soon on the death of Waldo R. Bal- tou, City Counctiman, found dying at 14 o'clock Tuesday night on the side- Walk in front of the door of the bulld- fug in which Mrs. Helen M. Angie had temporary apartments, brought @ shock to the friends of Mrn Angie. At bas been their contention that Mr. allow. left M:4. Angle's rooms in- tonteated, fell down stnirs and frac- tured his skull; that frightened by the fear of scandal by his beng found dying near her door at that Rour of the night, after she had un- dressed to go to bed, she dragged Bim out to the street Chief of Police Brennan wus the eecond witness called to the stand to-day. He produced Ballou’ hat which he had found in a wooden chest in the musical studio which Mrs. Angie was occupying during the | absence of her father from the city. Phe crown was broken acroms the top In vlearly detined lines, The hat was covered with stains. Coroner Phelan was asked if he had any other exhibits, He produced an electrical flat iron “Whut is the Importance of that?” asked the Coroner. For an anuwer (he chief deliberate- ly Mtted tho fa f the tron into the dent in the hat. The we of the irom coincided with the broken ed: of the straw. The chief pointod to a stain on tho iron “What Is the importance of those marks? What are they?” asked the Coroner. “To the best of my kuowledge and belief they are blood stain repliud Brennan, * The crowd in the courtroom was shaken with intense excitement, which the Coroner wus obiiged to re- Prove. ‘The flatiron was disconnected from the eectric fixture, when he found it, Chief Brennan said. Mra. Angle explained tbat she had been using it at the home of friends. Detective Sergeant Foley, who was detailed to make an examination of the stains on the stairway und to the apartment early yosterday morn- caused another sensation when he produced a chart and indicated blood stains under the edges of the threads of the stairs from Mra. Angie's @oor to the landing on which, ac- cording to Mra. Angle, Rallou fell The tops of the treads, Moloy sald, had been recently sevured. He also told of spatters on the stair wall three fect above the land- ing and of others in the apartment itxelf aside from tne foot prints left by the woman after she returned from taking Hallow down stairs, POLICE CHIEF TELLS OF TALK WITH MRS. ANGLE, Chief of Pollen Hrennan testified about his conversation with Mrs. Angle after Hallon's body had been found, She opened her door an inch to hig knock und asked what wax the matter, Then he told her he want (Continued ov Fourth Page.) a el 4 BASEBALL NATIONAL LEAGUE. AT BOSTON. GIANTS— 22000 BOSTON— 11301 Batteries—Tesreau James and Whaling. and Riglor. and Umpires—Hart AT PHILADELPHIA. BROOKLYN— 0004 PHILADEL PHIA— oooo Batteries—Reulback and Mcvarty; Oceschger and Killifer. Umpiree— Byron aud Johnston. —_> AMERICAN LEAGUE. | AT NEW YORK. FIRST GAME, | HIGHLANDERS— { 00020010 | BOSTON— 000200000-2 Batteriee—Collins and igan, Cady; Warhop and Willias pires—O'Loughlin gnd Hild SPOOND GaAsin, HIGHLANDERS— ool BOSTON-- 100 | ———- FEDERAL LEAGUE. AT BALTIMORE. BROOKLYN-- 100 | BALTIMORE ooo — WINNERS AT AQUEDUCT. FIRST RACE—Oretund, 2 te 1,7 to 10 and out, firet; Lohengrin, even and out, second; Col. Ashmeade, third. Time, 1.40 1-5. SECOND RACE—Polish, 3 to 6 and out, first; Capra, 7 to 5 and 1 to 2, second; Encore, third. Time, 59 3-8. THIRD RACE—Col. Holloway, 2 to 1, 9 to 10 and 2 to 6, firets Afterglow, 5 to 2 and even, second; Dartworth, third. Time, 1.40 2-5. 2 to 1 and 4 to 6, first; Do 10 to 1 and 6 to 1, second; Tle Mas- querader, third. Time, 1.00. For Racing Charts See Sporting Page. RARE ime SINCLAIR WON MEDAL AT BALTUSROL CLUB. BALTUSROL GOLF CLUB, SHORT HILLS, N. J, June 25.—Wallace Sin- clair, former college star of the Home Club, won a 1 to-day for low score in the qualifying round of the He did Baltuarol Golf Club tournament. 77, within four stroki record, J was secon at There were 10: ier Curr! LORIENT France, June 25.— Bernhar: the French a from @ severe twist arrived here from Alx- Rains last evening and wai Ja chair from the | bile which cony price te-day & Fri Orentnay, ¢ cor, ‘Barclay Meyers; | | postponement of the ant!-trust pro- | thon #0) will be given its constitutional fre ) ROOSEVELT, A SICK NAN, COLLAPSED ON VOYAGE OVER; Attributes Condition to “Ex- plosion” of Fever: Germs and Treats It Lightly. HE’LL STICK TO PERKINS. \And He Will Be on Hand to Open the Campaign in Pittsburgh June 30. Although Col, Theodure Roosovelt dieplayed bis characteristl: eversy to-day as he mapped out plans at Oyster Bay for the coming campaign | which he will open in Pitteburg| | June 30, In is first polltical speech in months, be in u pretty sick man engera on the arrived last cording to fellow ps Imperator, on whic! night | Onee on the voyage Col. Roosevelt | colayeed and was unconsclous for an bour, and on three occasions his temperature rose to 106 degrees, say those who crossed the ocean with Nim. The Colonel himeeif is inciiued to make light of the state of bis bea It was on last Saturday that Col. Roosevelt broke down, according tu reports, He had been walking the deck briskly as usual, and showing interest in everything which came under bis gaze when he suddenly gave vut. He became unconsvivus after reaching his cabin and it wae an hour before be could be resus- citated. Throgghout the journey his condl- tion was rather low and he did not spend much time on deck. Usuully ho kept to bis room, writing con- stuntly and appearing only for con- atitutionals, He took quinine in large quantities. When he did ap- pear, bowever, he was jovial and other passengers quote bim us ex- plaining 8 conditiun in these words: “I'm full of fever germs and every now and then they gather. Then, by George! there's what you might call an explosion and I'm pretty atck. I'm all right again tne minute, how ever, and 1 cané of wal for the next explosion.” The first thing Col. then Kooneveit did on arriving here wan to avitic une- quivocally two quertions: He will stick te George W. Por- kine, Chairman ef the Progressive Executive Committee, ¥ He will net be @ candidate for Governor of New York this fall. BUSINESS WILL GET ITS CONSTITUTIONAL FREEDOM, SAYS WILSON: ‘| Tells Editors Trust Bills Will Pass and Unprecedented Revival Follow. WASHINGTON, June 25. —In a | speech to the Virginis Editorial As- sociation, President Wilson this af- ternoon declared that under no coi sideration will be consent to any eram. “It will not be postponed,” he suid, “because wo are the friends of busi- ness, The trust program is bached | by the solid business men of the na- When it is completed busine: dom It will go forward under and far from bis normal strength, ac- | | | the HOUSES RADED IN QUEST OF CLUE TO MURDERED GL Three Inmates Found Hidden in Dark Room With Trap Door. KEEPER IS QUESTIONED. Man and Woman, Carrying Bag, Seen at Pond Near Schenectady. Hy long distance telephone te Schenectady the Evening World learned to-day that District-Attorney A. T. Blessing hu» sume confidence that a raid on a disorderly resurt in Schenectady's uvtorious ‘Third Ward at eleven o'clock lust might may re- sult In the identification of the head- 3, armies and legless body found In the Mohawk Ktver, below New York Central bridge last Friday nforniation was reveived from an fnonyinous source yesterday by Chiet of Police ynex and the Prose. cutor that perauns tiving near a pond four miles out of Schenectady had neen w man and wummuo carrying bag big enough to contain the missing head of the murder victim tutu the woods tuwards the pond and come “Jout without the bag at about the time the girl 1s believed to have been Killed. A description of the man and the woman suggosted Inquiry In the red iight district of Schenectady re- garding missing girls. Mr. Blesstug told The Evening World to-day over the telephone that Informintion eame to Lim late yester- duy that a girl, Known only ax Ida, had been minaing for several weeks from a house managed by & mou known as James tose. ‘A squad of pollen were sent to rald the place On thelr urrival they found Rose apparently alone A number of women's rarments were lytng around the rooms, but he swore were the property of former lodgers. Just then the detectives found a trap door which led into a room without windows, in. which three girls were cowering, AN three were taken to Police Headquarter, and Mose was ques toned for an ho or two. Rose ad mitted having koown @ firt naned but said ale had gone to another city, and that he would be able to help the authorities trave her He Insteted that he had heard noth ing out of the why regarding her since sho left his place. Reso wit be aubjected to another questioning, and Mr. Bleasing han not lost hope that something helpful inay bo learned from him. The police reports of the autopsy gald that It showed the gir) had led @ Dlameless life. Mr. Blessing sald that the condition of the fragment of the body was such, after being in the water for a month, that no conelu mon on that point was reac hed. preceiented in the history of the \inited Btates.” The President made his remarks shortly after he had heard of the Clafitn fatiure in New York, although no ofticlais ventured to say he had that in mind while speaking For ten years, the President said, burtness has been uneaxy because of attucks on tt, He contended that his Administration was the tirat in years that had been the real friend of bual- ness and added that his Adminiatra-~ tion was going to prove Its friendship by clearing away all anxiety among business men over what was to come, The President spoke with reat earnestness, Gesturing vigor ously, he declared that through Gov- ernmental agencies and through an extensive correspondence ho belleved tration to be better able onditions than any one else Bermuds 0 a And as soon ap it Kets it I prophesy — aerate ® DpeingeS FETAL. which WU) be ua | i Liabilities of Big Dry Goods Firm Are $34,000,000, With Assets Estimated at $44,000,000 --- Holding Companies Not Involved in the Failure. Morgan and Other Finan- ciers Worked Hard to Ward Off Bankruptcy of the Famous Firm, but the Task Was Too Great. Following the refusal uf J. P. Morgay & Co. and other New York bankers and financiers to advance more than $30,000,000 to John Claflin, the dry goods merchant, the H. B, Claflin Company, wholesale dry goots dealers, went into bankruptcy to-day with liabilities approxim iting $34,- 000,000. The firm says it has assets of $44,000,000. Two receivers were appointed at the opening of the United States District Court today by Judge Hand. The receivership was forced by the H. B. Claflin Company. Right behind their lawyers came lawyers representing creditors who were straining every eftort 10 force the Claflin firm into involuntary bankruptcy. Involved in the failure of the H. B, Claflin Company are twenty- eight dry goods stores forming a chaln financed and given credit by the H. B. Claflin Company. This chitin has collapsed. The affairs of the concerns are so intimately associated with those of the H. B. Claflin Company that ancillary receivers will be appointed in each of the cities where the stores are located. $34,000,000 for merchandise and money advanced, The H. 1, Claflin Company has discounted these notes throughout the United States. More than 3,000 hanks hold them, including twenty-five or thirty banks in this city. No other customers’ notes have been discounted by the H. B. Claflin Coupany. The note selling operations have been contined exclusively to paper issued By the twenty-eight stores which were tinanced by the Claflin concern, Buck of dhe notes are stocks, real estate and good will of the twenty-eight stores. The following banks and trust companies have been named by a committee as depositories for these notes, which are to be assembled and handled in ‘bulk: The Bankers’ Trust Company of New York, the Old Colony Trust Company of Boston, the Northern Trist Company of | Chicago and the Merchants’ Trust Company of St. Louis, BANKERS COULDN'T RAISE ENOUGH, The Hl. B. Claflin Company cannot meet the notes. The combined Morgan financial interests could not raise enough money to tide the Claf- lin concern over, It was decided yesterday that the only way out was | through a receivership, and lawyers and bankers worked all night on the plans. This great failure involves only the H. B. Claflin Company, doing business as a wholesale dry goods house, and the twenty-eight depart- ment stores financed by the Claflin concern. It does not involve the As- sociated Merchants Company or the United Dry Goods Companies. The latter corporation is a holding concern with $51,000,000 capital financed five years ago by the J. P. Morgan banking house to take over all the Clatlin interests, except the twenty-eight dry goods stores associated with the Claflin wholesale house. John Claflin resigned this afternoon from the Presidency of both these corporations. The United Dry Goods Companies and the Associated Merchants Company owns and controls the following stores, none of which is im- plicated in the failure of the H. B. Claflin Company: Lord & Taylor, James MeCreery & Co., O'Neill-Adams Company and C. G. Gunther & Sons (turs), all of this city; J. N. Adam & Co. of Buffalo, Stewart & Co. of Baltimore, Hahne & Co. of Newark, N. J., Powers Mercantile C pany of Minneapolis, Minn., The Willams Hengerer Company of Buftalo, and the Stewart Dry Goods Company of Lousville, Ky. Sg li lb ata, nt: 1S Sade 0 take care of 18 ‘PAGES 28 BIG STORES INVOLVED IN THE CRASH OF CLAFLIN’S CLAYLIN These stores have given to H. B. Claflin Company notes worth| PRICE ONE Sant: Held Conferences for Ten Nights Discussing the Gravity of the Situation But Would Not Advance More Than the$30,000,000 First Two Ancillary Re- ceivers Appointed in Brooklyn — Mercantile Creditors Name Nine ofa Committee of Twelve to Act With Banking Com- mittee. lites stores above mentioned and advance money to meet their needs. All these stores are prosperous. Although the United Dry Goods Companies is only:indirectly involved in the failure through being a holding company for concerns in which the H. B. Claflin Company is included, the shares dropped to $70 on the Stock Exchange today. They sold at $96 twu days ago. EARLY MEETING OF CREDITORS CALLED. In the order appointing Joseph B. Martindale and Frederick A. Juilliard as receivers they are directed within ten deys to prepare from the best available sources @ list of all the creditors and send to each of them s notice of an early meeting of the creditors, at which it shall be veted whether the receivership shall be continued and who shall be chosen from that time forward. Also, whether the business stiall be continued, ead, if so, what, if any, sums the receivers shall be allowod to borrow and om terms. Further, whether the assets shall be sold, and, if eo, when and ia what way. At the meeting ts to be chosen a creditors’ committee, or committess, _ with whom the receiver may from time to time consult and whe shall be invested with power to act for creditors in the management of the estate ao far as the resolutions passed at the meeting shall so authorisa All ether matters concerning the administration of the H, B. Clafin Company's estate which may be brought up at the meeting are to be determined lawfully by the votes of the creditors. hg Judge Hand's order directs the receivers to attend ia person, or by at torney, the first meeting of the creditors, as all questions discussed are te be decided by # majority in number and amount of those present, amd the mutters decided at the meeting thereafter will be referred to the court for leave to proceed in accordante with the creditors’ wishes. NIGHTLY CONFERENCES FOR TEN DAYS. For ten daye the strongest financial men of New York. have been holé ing olghtly conferences {on an effort to save the Clafiin situation, Maay of | these meetings were held in the offices and library of. J. Pierpont. Morgas, | where the present head of tho Morgan house, acting exactly as did his father in the stormy days of 1907, summoned business men, whose wealth ren | {nto untold millions, to devise ways and means of etaving off what these | men term the “most stupendous dry goods failure in the history of the | country.” | From one of the conferrees who was a powerful factor io alding the elder Morgan to stem the tide of the panic 8 of 1907 and who also par- ticfpated In the recent effort to save the H. B, Clafiln Company, The Eve ning World obtained the inside story of the efforte of this group of Saaa- cers to thwart the failure, | “It was exactly ke the days of 1907," said this merchant who has beco In business in New York for forty years and who recently prevested jibe {allure of a great manufacturing concern by putting up his personal ash, “Almost the same group of men who met and decided the fate of 1907 have been conferring for more than ten days about the Clafiis mat. \ter. And let it be sald for Mr. Morgan that ho was most generous in bis | proposals and one of the last to admit that oothing could be done to meet the needa of the case. FOUND MORE THAN $30,000,000 NEEDED. en back {n 1907 the Claflin matter engaged our attention in our conferences at the home of the eldcr Morgan. It was one of the critical points of the panic. If the Claflin structure went under we realized that it would be impossible to save any number of banks then heavily involved, We went at the matter jike business non and in a very ahort time raised | $4,500,000 for Mr. Claflin He needed only $3,000,000 to stave off culm, | helping him we accomplished the first big task in the reconstruction @f the” | bustnoas affairs of the city, and this entering wedge recetabiished cont dance and the reat came comparatively caay ‘Like his father, Mr. Morgan proposed in this crisis just such an ase, sessment to tide over again tho Cluttin tirm, Tut, as we went into it, the amount of debts grew bigger and bigger, and then we found that than $30,000,000 would bo nevded, In these days this sum could not sibly be raised. Every known way was suggested and do minds in America were brought into play, but we sew momen Sen sradtians hengpal-atn* AS