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Show PEflNELL A DEFAULTER. Buffalo Suicide Carried Heavy Insurance Insur-ance for Benefit of His Victims. The Buffalo, N, Y., Commercial publishes pub-lishes a story jn which it is alleged that Arthur E. Pennell, who was killed, in an autraomobile accident on March 10, was a defaulter to the extent ex-tent of from 1B0,000 to $200,000. The story Is to the effect that Pennell induced in-duced 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 their financial agent. He would inform in-form them of some good investment which he had come across which would pay an excellent rate of interest, inter-est, and they would send him money. The money which was sent to him for Investment, it is alleged, he spent, and when interest payments fell due he made the payments out of his own pocket. Wollo. TI ... .. iiinjci, wuu was renneus attorney and intimate friend, is referred re-ferred to by the paper as saying he had suspected irregularities, but that ha had no proof of any such wrongdoing. wrong-doing. IncidenfcUJy it has been learned that Pennell made provision for the payment to Mrs." Edwin L. Burdick of $25,000 out of his life insurance. in-surance. Pennell carried over $200,-000 $200,-000 life insurance, in order, the Commercial Com-mercial says, that after his death the eastern estates to which he is alleged to have been a defaulter might be able to recoup the losses which they sustained through him. In his will Pennell named as administrator ot his estate his brother, J. Frederick Pennell. He left to his administrator sealed instructions that upon his death he should make good in full out of his estate all the losses which had been sustained through his defalcations. |