| Show PENNELL A DEFAULTER buffalo su cide carried heavy insurance for belef t of his victims the buffalo N Y commercial pub lishes a story in which it Is alleged that arthur E 13 pennell pens ell who was killed in an accident on march harch 10 was a defaulter to the ex tent of from to f 00 the etory story is to the effect that pennell in deuced friends in the east who had known his family and the family of his wife to place money in his hands for investment he acted in fact as its their financial agent he would in form them of some good investment which he had come across which would pay an excellent rate of inter est and they would send him money the money which was sent to him tor for investment it is alleged he spent and when interest payments fell due he made the payments out of bis his own pocket wallace thayer who was pennell s attorney and intimate friend Is re berred to by the paper as saying he had suspected irregularities but that he had no proof of any such wrong doing it has been learned that pennell made provision for the payment to mrs edwin L burdick of 25 out of his life in aurance pennell carried over life insurance in order the coin com mercial says that after his death the eastern estates to which he is alleg alleged d to have been a defaulter might be able to recoup the losses which the sustained through him in his will pennell named as administrator ot of bis his estate his brother J frederick pennell he ile left to his administrator sealed instructions that upon his death be he should make good in full out of bis his estate all the losses which had been sustained through his def defalla alea eions |
