The Sun.
London, England, 1842-06-23 00:00:00

tspirb 41; ,
f _Arittitton

,)U-Y-OFFICE, ,Seven o' Cloch.

AMERICAN NEWS.
FURTHER EXTRACTS FROM THE AMERICAN PAPERS.
(From the New York Herald of June 7.)
ASTOUNDING EXPLOSIONS IN WALL-STREET.—Yes-
terday was a day of great excitement in the financial and
rascally circles of Wall-street. The first explosion, or
modern financial earthquake, took place about t:n
o'clock in the morning, when it was discovered that
James S. Schermerhorn, who has been Secretary of the
Ocean Insurance Company for years past, had proved a
defaulter to that institution in the sum of upwards of
One hundred thousand dollars. Upon being informed of
the discovery, he confessed the whole affair, and the
manner in whi.-.41 he had !succeeded in defrauding the
institution of this large amount of money. Upwards of
eight hundred false certificates of stock, we under-
stand, have been issued as one of the means by which he
has raised funds, besides false entries in the cash and
bank books. These speculations, for such they may be
consider (d in a general sense, have extended over several
years' time, and originated in that curse which has ruined
tin u rands—speculations in stocks. During the afternoon,
Abrahain Ogden, Esq., President of the Company, ap-
peared at the Lower Police ()like, and entered a charge
against Sche: mti horn to the above effect, upon which he
was immediately arrested by officer McGrath, and safely
10 aged in the city prison. He has x fatally, and four
eit dreg, who have heretol'ore lived in afflusnee, and we
understand that was about erecting a splendid mansion
in the upper part of the city as a private residence, lie
at; ribu; es his eoridnet entirely tome rasealities of Wall-
stre::, sal da:ibling iu St: Z The capital of the com-
pany ',7:350,000. and we understand that he- has con-
les,ed that his defalcation; would reach nearly ,•"1;l50,000.
AxoTttnu Tnicit. or A FINANCIER.— The devil ap-
put rid to have broken loose yesterday, as no sooner had
the above explosimOtecome well known, than it was also
av,ertlined that GATeit Van Dyne, the ag,Al porter of
the Long Island Bank, had been robbed, or his pucket•
picked of ,-,•:21,000, in bank notes and checks, while pro-
ceeirng from Wali-street to Brooklyn.. Ile had crossed
the river, as usual, in -The morning, to receive the ex-
changes front the Phumix Bank,:in Wall-street, and after
enelotun the money in'a package, re:timed to Brooklyn,
aril on arriving at the other side, found that his inside
coat pocket had been torn open, and the money taken
out. The notes were all of the Long Island Bank, and
form about $lO,OOO of the whole amount. A suitable
reward has been offered for the recovery of the money,
or• any portion of it, but up to a late hour last
no- ;0112_ had been caught who could be sus-
pe.:te:l. Mr. Van Dyn,„ the porter of the Bank, is
upwards of SO years of ago, and has b: en in that institu-
ti for inany. ye trs. Tll, oiliers- of the Bank have no
suspicion that the money urns appropriated by Ali-. Van
Dyne to his own use, ft.`i was reported yesterday, as all the
circumstances attending tint loss convex a different im-
pr,siion. There is no doubt that- the rogues who com-
mitted the act hare s atched the old gentleman for weeks,
and fixed upon yesterday as the day to accomplish their
p trpose- They had 60ccted that their, in all probability
supposing that.the redeiLption of Saturday's busineSS was
more extensive than any other Ony in the week. Un-
fortunately for them, the money conveyed over was the
receipts of Friday, and therefore the amount was sumac
10,000 dollars less than it would have been had they se-
lected this day for their operations. The loss to the
:Dank will be al °it 10,000 dots. The payment of the
checks, that amount to about 14,000 doh. has been stop-
ped, 'nue notes *ere from 1 to .1,000 dols. in denomi-
nation. These explosions will certainly lead to others,
it rarely rains but it pours, and no one can doubt for
an instant that if the truth was fully ascertained, Wall-
street would present scene after scene of just such deso-
lation and ruin us the one previously depicted.