| Show l 1 MORE MODE ILL LUCK LOCK LOCKi 1 OVERTAKES HEINZE t i Unable to Meet Payments on all r t 1 Stock He Ho Loses Control of B ItiN W l s Mercantile Bank Bankit S tl i 1 it l rt HOLDINGS REVERT TO GOULD ti l I II J II III i eJ III l I Stub yi It Is I i 1 file Ilio ID III I ItC t I I Ii i The rile q ItI i Institution Q i w iff I H t New kes i Yoi 1011 i Ok U I Jan S lo lo to I Y jin et payments duo duc on his stock In the r P 1 Augustus P J lt control of tho tim Mercantile National 1 i bank the fin conduct t of it which ns an Its It jf 3 j hOlt hod brought his hI a ai ai vv i In the tho United States Slates circuit i J f u ourt rt In tho nY nv on ot of 1 r i i v r One bought n a con 2 Hr Interest from r in the Goulds with WI 1 Vj i o Whom ho pledged ht holdings as t n 1 4 for to hla hi promise to In pUp puy for tor them m In n full within wi one yum yar Thin ThinK K of or was due dUt tIC today n to co toT T r Edwin Gould Goul rind 1111 Nelson t bon n r 1 lio 11 s lI n of It tit I Ii i Gould party in the th Liw WIlS wai to tu Iho tho chain of financial house Up to lo tho Iho moment mO him blit Utilize to tu meet hili ob and anti HO o to tn his III failure Whit wan ln tho issued Is u tL l hy by hyi y i Cromwell on ph ritt con on of if thi concerned A STATEMENT ST i Tho lh lI stock st lt In tIt tin Ier National N bank lias litis by h y 0 11 Could GOuld In n a t arrange Mr wa gl n every pos chance to pay for or the tho ti stock but bul of hl hb his Inability Ina to Oo do o v yo n in J the tho c time agreed upon we WC hove have hn 0 been forced to in take It over Later Mr Air added that the tile tileO Could O Would their place In tho the bank board it at the tha th meeting on Jan Jun 14 11 This Implies 1111 i of ot course that the llio tJ directors dIrector will wIIl then reth r morning now nov under hail ball J upon an tin Indictment by br the tha federal jury on Vi tt 11 charge chance of ot m checks cheeks ot or his hb brothers brokerage firm Involving wua wa before eforo Judge il A plea or of not guilty was WIlM entered and p was wa had to alter or 01 with draw U it or to mako any uny other desired I motions iri m later inter An adjournment of ot the cao was wall ordered until Jan ian 20 O 0 whon the tho final finni pica Ilea will be lie Tho The of ur wu t L continued r 11 It wee van reported today lOllar that thol other men mun II tu a prominent us 1111 o In tit red wel e tu to II be he the federal authorities la pea l lo to to Who me cue or when their lUre arrests tn l to lo bf lH i could nut net bo ho learned at nt the tho United s j U It if Iii known kimn that tnt the tho Krand Rr Jury J Is nut yet yot through with Its Us Inquiry urr Into tuto j banking conditions exposed by ly tho the financial Hurry United who i willi TIB aLter arraignment i l lN N II It 1 would woul UP he for me nie lore to rC t i vent veal thc tho r I have hae lost I 1 give glo my nY III ease cast but hut I can culi May that tho the investigation Is not lint yet el oCI r leaving tho the federal I o had Jad to nay so further than that he lie would 1 not HOt leave tile tho city elt until a II disposition of cC his caso cao had hud been con made Soon afterward accompanied by br his hh hl 5 counsel c l L joined d Gould and William Net Nel Nelwin win lm in the tho conference which ended In III his hili returning to tn them the bank for rol which he ho wm was unable to pay ilay It U Is la said sahl that t Iho j lio ho transaction Wits vit not concluded until every eVey means i Uy iy h which might have hold held h Interest J lied bad tiei INI After the tho collapse nt ut the f Copper the hOU lne of or tile the Mercantile tile bank when VIe resigned the tho pr lIc 1 the directors the tho copper magnate declared tnt he ho would still hold hoM his hili stock Tho The bInk however hall hail been hen a af nr atC nrc c C ted hy bY 11 like Ih trouble It WUK vu gOIl geil rally trall that hal I a I wey ay 11 would bo 10 0 found agin to bring It U under tinder the Gould hII This opportunity opportunity come lo A practically tho the former Is now 1101 expected ll In tl the tho Institution to ti Its la For years the bank luid tind been under the control of If f fI tile the I I e Gould In dUd and I t hen halt I e who WIll branching out as nj a 11 banker liml with associates n wa wm striving t tc II Micuro l I curo direction of tvr ofa n a number of local Inca acquired l holdings In the III Institution In Ho lIo succeeded when he Ill obtained shares of tho thu stock front from Gould and from Crom AV V N Cromwell Crom It 11 ww W tu ll report reported ed ud at al t tho th tb time tiiu that hiLt tho th purchase price was tas I 5 e pal part Jurt cash and aint RUVO AlIVO Ilk liN hl notes for tho the TheRe Theno notes floIeS It IL Is la said ran for or six months when 1 en they hey thc t were renewed Charles VV W Morae 13 B I It 11 and Or 01 Orlando lando Thomas had previously I id of the tho hunks stock and with holdings they Iho wore were w ro to make niale him bini president and I to In ii elect tho the directorate Hoth Morse and tHu the Thornas s tire are supposed to 10 tt have already disposed ed or 01 o their inter hater interests ests Concerning a n report that and nud Mors hut hud a II over Iel the tho bull ull campaign In United Copper COPIC which was wan client about to culminate In a 11 law In suit Mutt John C Ton Tom Ibsen personal I 1 to hi said I tonight No co 0 pes have hae been bezi drawn It lit i true that thieve there lian been a u general dl of ot M Mr r affairs hut but no definite action netlon In Iii any direction has ban boon decided on of o Mr fr and nn Mr tore Morse have been bethi most s developments In tat Informally I I formally tonight Mr Cromwell said Kak Now that Mr Ir no longer has lins anything to do with tho the Institution u tion tl In III an official capacity wo vo 0 intend to begin lIn to reconstruct the bank It ItIs Is III now our Intention to proceed to re m regain gain tho the ground that It lost It had always been a good old oJ Institution with nn an excellent business and we wc believe that it will recover within a it Ih rt time With the tho Inter Interests ests who now lIWO control can bo hd no moro florO talk about aboul tho the liquidation ot of the tho batik bank bankAs As to what affect tin change cha ngo mIght have ha on tho time possibility ot cof o law suit involving the tho bank Mr Ir Cromwell n to I I an opinion OJa tutu a alie mutters ho lie said 1 along with the thio matter of ot balance with willi thc tao bank balik 1 will have havo to ho 10 taken care ot of ofIn otIn In lit the tho future |
