Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-08-16
DOMESTIC.
GREAT FRAUD AND FAILURE.

II f.A
From the Nt,c York Juarnal If Commeree, .1ag. ~
Gra.t Failure at Bafato.-rhe news OF the failure OF
Benjamin Rs.hbun, at Buffalo, which was Eeceite" LUIS
morning. caused very unusual sensation III wall street
His af,lrs have for months past been the suDec VI
much speculation and his notes, endorsed BY some len
or Twelve of The best names i'll that CITY, nave oeen
crowded upon the market al the enormous cscou' vi
three or four per month. lhey nave setFtu or
the ouotations of some Of neigEbors in giving the
condition of the money market The credit OF every
body in Buffalo of course becanie deeply 4u
it was said repeatedly. that if Rahbun lalied all LUNA
10 must fail
MIR Rathbuns business was enormously extended
In addition to large operations in real e.a;e, in whic
he was constantly engaged lie was contractor lof
erecting the great hcte and many other onaingS.
this line he had shops and establishments OF s own Tor
making bricks and furnishing and working all SORTS OF
materials for building. He lad less than four stores
keot in his own name three of which were one hnnureu
and fifty feet deep, filled with valuable meFchanu!se.-
He owned the line of stages from Bufa'o 10 nata'ia'
and in fact almost all the lines running out u l' 10y
and for this and other purposes owned SIX unoFcu o
ses. He employed tweny-eIght CLERKS, ana t"o iou
sand other persons in the various departments ol MS
ratons His skill and enterprise, SUSTAINED ey large
number of we'll known fortunate specuiauohs: gave h'
n reputation for talents and wealth, by which, unui
now, he has been able to carry on theSe ottG's. '
almost mi,less operations. But ne mas 'aNeu It y:
From statements which are as COCO Us can nc "au |"
Ench case we are led to hope that the consequences
will not be ruin on broad scale as haa oeen anu
cpated if indeed there is any RUIN ata al any id'
il does not appear that the ctiseHs o. ouHao are Aey
TO lose to any considerable extent r h J m
understand epresented the whole amount OF ms uens
at million and half Of dollars, and on more than ami
lion of his paper he acknowledged that ne the
names of rich neighbors On particular occasion he
nrocued L. F. Allen and eleven others TO endorse three
Of his notes for 5000 dollars each Tkeraasaceoo gas
generally known in Buffalo. These nneswith the en-
Sorsements thereon he multiplied at his pleasure, and
the forqeries passed unsuspecte whenever forged
note was mentioned it taken for one OF the we'll
Dntp
in Wall st., in Canada, and wherever market could be
found for it. ,.. ~ ,
To pay the million and half of responsibilities, Mr.
Rathbun exhibits list OF properly winch he mas con
veved 10 asspnees valued at millions and hail.
Other pessoas value the list at two millions or some
thing under. If these statements are near lhe truth, IL
is to be hoped that the affair will not IN The enc prove
seriously injurious to any RathbUR anc brother,
who is charged with having executed the fogeries have
fed 20 Canada The following notice was issued at But
falo on the first announcement of the catastrophe:
NoTcE.-For the purpose OF preventing constant IN
ourie, and satisfying the just desires of tie numerous
persons interested well to secure tor their benefit
all the property Justly chargeabe with their cals we
deem it proper to state and give notice TO AL WON It
may concern, that BEsJAalN RATHEuS, OF Buffalo, has
made an assignment TO OF all his estate real and per-
sona every and nature in trust for the payment
of his debts in the order specified IN such deed OF as
sgnment, record in the Clerk $ Office OF the
county of Erie.
Among those vino are to be first paid, (aer deraying
the charges of executing the trus "the clerks me
chancs, and daily aborers in his employ at BuRao aud
Niagara Falls the amounts that may be due to hemre'
spectiyely and aso "apereons residing IN Buffalo, or IN
the counties of Erie Niagara and Chautauqne, to whom
he was indebted for building materials horses or other
personal property purchased tor the purpose OF carrying
on his business operations such he was ndebt.
ed 10 them therefor with numerous lst OF conndehtiai
creditors named in the trust deed
All persona having any property, OF any name or ma
ture in their possession under their CONTROL belong
ing to said Benjamin Rathbun, who are indebted TO
T. h,,a Ee1 Of
they must for pay and deliver the same to
u.s. authorised agent, and to no otaer person or
pcrsons and all agents. clerks and servansln the employ
Of the said Benjamin Rathbun, are also hereby noliheo
that they must pay no debts Of his after this date and
make no contracts ia relation to- or sales OF any property
belonging to said Benjamin Rathbun, and tsct they
must 10 the subscribers and to no otner person
or persons for their respective trusts and tor all moneys
papers, other property IN their hands or ote teir
control, belonging to said estate
We deem it due 10 ourselves to state that this import
ant has been conferred upon not only without
solicitation but upon soke Of as without previous con-
sultstion; and that hare assumed the responsibility
with great reluctance at the earnest request VI some OF
the creditors in the hopes of5enehng ouriel
.owcitieens. We have yet had no time to ascertain
either the amount CT debts due to, and property possess
sed BY the assgnor or the extent Of his liabilities; but
must be apparent to ALL that considerable time must
necessarily eapse before large an amount OF personal
property dispersed in several countless can be collected
secured and inventored, preparatory to executing the
1t is believed however, that the character of the
ass;gneeE in this COMMUNITY will be sufficient guaran-
ty to all concerned that unnecessary delay will take
place. and that every thing will be done to secure the
just rights of all interested As arrangements
can be made for paying the st preferred csss Of Gre
dtors, public notice will be given of the time and place
for presenting their demands.
BRIAN PRATT I
LEWIS T. ALLEN.
JOSEPH CLARY,
THOMAS C. LOVE,
MtLLARD FILLMORE
ys,I.d Rpf,lo Aupust =, 1886. Gee; r,.,.