Show POSTAGE STAMP BIDDER 153 o e 1 FAILS TO LAND BONDS lYr BHABAlI WHITE the bold and AURAHAM unique genius of Wall street and known as the original postage stamp bidder has come to grief at last In his latest and most daring exploit In high finance White tried to carry off tho citys entire new 10000000 issue of bonds with a draft on u 25000 corporation cor-poration White In behalf of his bond bouse the Abraham White Bond company offered to take the entire 10000000 of bonds at prices ranging from 1003n to 10250 Ho deposited with his bid a draft instead of a certified check The draft was for 800000 and was drawn on the t Greater New York Security Se-curity company a corporation of which he Is supposed to lie the solo active member and which does not figure in the directory of tho building where It Is located This concern Is capitalized at 25000 It gave a printed print-ed acceptance of the draft which thus bore a semblance to a certified check for 800000 The draft was presented for payment pay-ment through tho Guaidlan Trust company one of tho city depositories Mr White and his money wore equally r equal-ly elusive The J comptroller gave him until three oclock to produce tho y money When the time limit expired the cash had not appealed Comptroller Comptrol-ler Metis then threw out the bid There were other bids for portions of the bond Issue at higher figures r than Whites lowest bids but he would have received a largo part of the Issue between 15000000 and 20000000 hud hI been able to produce pro-duce the money It Is supposed that he found tho deal too big to put through when It was too late White was nwaidod 1500000 of d United Staten bomlH when John C Carlisle was tieamirer and when ho t had little or no money The law did t not require u deposit with blilrf and all It cost him was 47 cents In postage n stumps hence he Is called tho original origin-al postage stamp bidder Ho cleared up about 100000 on that transaction prevailing upon Russell Sage to tlminco It He formed the bond company I com-pany and at limes made equally during y dur-ing and successful deals r St |