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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Dec 10, 1908
Page
2
The Times reports on the 1904 Panama Canal purchase, Knox’s claim of sole responsibility, and Roosevelt's push to verify stock ownership. It covers Congress and public reaction, and denies Broader graft links while noting Ambassador Jusserand’s remarks on French investment.
A telegram to Charles P Taft announced the Panama Canal probe found no evidence of American profits. Taft, in Cincinnati, said he had nothing to do with the matter and expressed pleasure at the investigation’s completion. The report was relayed from The New York Times.
Felix Droit a chauffeur of 320 West Fifty-second Street received thirty days in the Tombs and a $250 fine after pleading guilty as a third offender to speeding a car on August 28. Police chase from Eighth Avenue to Seventh Avenue stretched through streets and sidewalks. Droit had two prior speeding convictions and a third offense was considered in sentencing.
New York creditors and groups press to salvage assets as P. J. Kieran remains missing. Banks and trusts including Carnegie and Windsor hold mortgages backing Fidelity Funding notes while receivership debates hinge on state versus federal jurisdiction amid mounting lawsuits and scattered claims.
In Pittsburg a wave of suits alleges P J Kieran and the Fidelity Funding Company raised notes and forged documents from religious groups. Courts heard seven actions seeking recovery of funds tied to notes endorsed by Kieran, with figures ranging into tens of thousands of dollars for churches and associated societies.
A suit filed in Common Pleas Court seeks payment of a $4000 note signed jointly by P. J. Kieran of New York J. P. Madigan and Rev. William McMahon of Cleveland The Clinton Trust Company of Lock Haven Penn holds the note which E B McNaul initially received and indorsed to the trust company Madigan is the county treasurer and ex president of Euclid Avenue Trust Company McMahon pastors St Brigets Catholic Church in Cleveland
In Trenton the Catholic Diocese head Bishop James A McFaul met a Fidelity Funding Company representative who offered stock investment with interest. The Bishop declined stating he never invests in stocks, ensuring the diocese lost nothing in the company crash.
In Toronto the Toronto Wood and Shingle Company once ran by P. J. Kieran dissolved after years of operations. Kieran’s partners and the Bank of Toronto are said to face substantial losses as creditors remain unpaid.
Delegates from New Jersey to the National Prison Congress in Richmond have prepared for Gov. Fort a report favoring mental tests for criminals before allowing any reduction of their sentence. The measure aims to determine mental fitness prior to early release and affects state labor projects and road work programs.
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