Show POLITICIAN GOES fiDES INTO BANKRUPTCY V r S Former Postmaster Coyne Spends Too Much Money I I. I V on Politics LAW VIOLA VIOLATION CHARGED Creditors Ci Want HUI Appointed to toRun Run Ruin Bakery and He Restaurants I Doing Good Hu Business Chicago Au Aug 8 Former SV Former Post Postmaster master naster tea p F. E E. E Cone Coyne a former furmer Inter Inter- ml nal revenue collector of the lie port o of Chicago and amI a prominent Republican nc was forced into bankruptcy this his afternoon and a a. J. J receiver appoInted appoint appoint- ed d for his three places of business on ona oni onu u a i p petition filed HIed before Judge e In n the United States district court by three creditors The petition charges that hat Mr r Coyne violated tho the United States Slates bankruptcy laws lawR a month 3 ago 0 when he Ill had transferred to nel Reid l Murdoch 1 company whole wholesale ale grocers and creditors of hl his 1600 shares hares of stock In the pane Pitney Postal Machine Machine- company valued d at nt The rho bill praying fur for a receiver was signed by the lie Eckart Swan S Milling company A A. T. T anti and Irwin brothers It stated slated that the former IN who owns and operates a large bakery two rants ants one at nt East Bast Madison l street and the other at lU East Lake Lako street was vas indebted to the Eckart Swan Milling company compan In the lie sum of S.- S. 10 00 to 15 11 and to IrwIn others brothers 9 Business Is Alt All Right It Is stated slated that the lie liabilities Cs will w exceed while tho lie assets will reach The bill asks aRks that hat a receiver celver be appointed and be c kept In charge of oC the business unTil I such uch time as aM the Indebtedness is pail paid the lie receiver then tt to be dismissed and till lie business to be turned back had to tu Mr MI Coyne oyne It is claimed by the creditors that hat the business if run In a business way ay will be lic able to pa pay hY everybody C oft off In n a short time as ai it Is well establish establish- eu ell d and gial on a n good paying basis but hul that lately Mr Coyne oyne has been using the ic proceeds of uC the thc business to further urther his Is political interests The lie petition further states that he helas has las been leen Insolvent for Cor the lie P past st four months and that lint when ho transferred the lie 10 o aho stock stoel he lie openly violated tho tin United Stat States s bankruptcy law by showing bowing preference for Cor one creditor cn over ver another JUel Judge p Bothoa appointed 1 th the Chicago Chica- Chica So go o Title Tille and Trust company receiver recel under a bond of or Mr Coyne Cone refuses lo to talk tall about the matter latter tonight saying that he lie will have ha lave something of Interest to sa say I later iter at er |