Article Text
CREDITORS HOUND HIM Frank c. Andrews Declares He Cannot Get Financial Footing. MAY GO INTO BANKRUPTCY Detroit's Man of Bank-Wrecking Fame Returns From New York Tired and Discouraged — Judgments of Which He Knows Nothing Secured. Detroit, Mich., Oct. 10.-"I cannot do anything with my handicap of judgments. Bankruptcy is the only thing open to me. With a clean slate I can regain my feet again, and my just debts will be paid." Frank C. Andrews of the broken City Savings bank fame, financier of a number of electric railway. theatrical and other ventures, released from Jackson prison after serving part of a fifteen-year sentence, and lately engaged in business in New York, in aneffort to recoup his fortunes, has returned to Detroit, tired and discouraged, ready to face the bankruptcy court with liabilities close to $2,000,000. Andrews came to Detroit chiefly to consult his attorney, Alex. J. Groesbeck, as to the wisdom of his proposed step. Greatly Annoyed. "I have not decided what to do. I have been greatly annoyed by certain creditors, who have filed judgments obtained against me personally in other states, and who interfere by attachments and in other ways with my doing business. Mrs. Shaughnessy filed a judgment of $35,000 against me in New York and has been very annoying. A man I never heard of claimed he was injured by falling off the Homer Warren building, and he has obtained a judgment against me personally for $1,800. I know nothing of the incident, the man nor his suit. I never heard of it until the judgment showed up." Mine Not Paid For. The suit brought by Mrs. Shaugh nessy of Salt Lake City against Mr. Andrews, it will be remembered, was in connection with the purchase by Frank C. Andrews of the Tiewaukee mine. Michael Shaughnessy of Salt Lake, formerly sheriff of that county. sold the mine to Andrews for $100,000, of which amount $65,000 was to go to a Salt Lake City banker, and the re. maining $35,000 to Mrs. Shaughnessy. Andrews paid the $65,000, but the City bank crash came before he paid anv of the remainder of the claim. Mrs. Shaughnessy sued for the money and. the Union Trust Co. as receiver and assignee of Andrews's equity, defend. ed. Mrs. Shaughnessy recovered a judgment of $5,000, the amount then due under the contract, and filed a lien on the property to cover the remainder. Mrs. Shaughnessy Again. The suit is still pending, the Union Trust Co. endeavoring to protect its interests in the $65,000 paid by Audrews. As the property is not being operated, nor is it being developed, its value as a mine is problematical. The Union Trust Co. people never knew that Mrs. Shaughnessy had been trying to reach Andrews directly in other suits, or had other judgments rendered than the first one of $5,000, defended by the receiver.
