The herald. [volume] (New York [N.Y.]) 1835-1837, 1836-01-20
Col. Wees WALL STREET DrrALcArIoss.-A

day the awful disclosures made bv Henry LYNCH Esq
Of Col. Webb's Wall street defalcaions The amount
OF the deposs-the strange nature of the
the position Of Mr. Webb-the character Of the Cour
er and Enquirer-its recent course on certain public
questions, were all brought up in the public mind in
connection with that statement and produced an ex-
citsment-the like Of which we have seldom seen.
Have you read the Expose ~ Have you seen the
story of Wehb's operations ?" q Do read it, il is the
most awful ever saw" were some of the Explanations
and remarks which met US in almost every quarter
Perhaps there never such another exposition Of
Wall street operations since the famous Conspiracy
trials in 1896 in which our old friend, Jacob Barker
figured so exquisitely. The recent penny concern of
yoang Widing, is but drop Of in the ocean.
If the curtain could be raised from Barlow & Websters
transactions, we might perhaps be enabled discover
Parale-bu until that be DONE the public will look
upon Mr.. Lynch's expose the most interesting fer
years past.
But what is more astounding, is the fact that these
disclosures only part and very small part ef,he
strange stock transactions with which old associate
has been concerned. IL We to hoist the green
curtain another reef two, could exhibit scene or
two, in which Of the distinguished charac-
tiers in New York and Philadelphia would figure in the
srangest attitudes, and in the astounding posi-
TONS Whether shall shall not will think of
for while. Ii is about The United States Bank.
Al present shall be SILENT but it may be necessary
TO open fearful budget the year is out
Meantime, our only consideration is what can we do
help our old friend We have some faint recellec-
tons pleasant days and nights of saudi lang syne"
and in his day Of calamity, kindest of hearts will
never desert him.
uavh NIL hiaf
Ifevery turn against the Colonel, shall stick
TO him. He need fear nothing The Herald is half aad
half with him.
Ii appears from Mr.. Lynch's statement, that Mr.
Webbs loss in stock operations, from March 1884 to
this date, amount to $4,000 nearly. OF this amount
only about $1,000 have been paid leaving balance
against him of sS7 OOO These losses are on Phadel-
phia and Trenton, Morris Canal, and several other
minor stocks. Mr.. Webb indeed in the letter he pub
lished on Monday, calls swindng" but this charge
comes with a sery i'll grace from him. He went into
Wall street with his eyes open. When he made money
he received il and buttoned up in his pocket How
can he therefore, wheel about and cry swndling"
swindling."
We afraid this excuse will not answer his pur.
pose.
1t appears too that he specsIated on his own supe-
~
quarter says he in his letter. dated at Philadelphia,
January 10, 1885, What quarter Any tell
what quarter without moments hesitation The quar-
ter ofhe U. S. BaAk
The truth is, Mr.. Webb with a tolerable good heart
"a busting business manner-agreeable temper, and
generous feelings, deficient in intellectual
ballast of any man knsw-and we know him
thoroughly. As person tie other mems ideas
he succeeds toleraby wsl-although in that capa
city he sometimes fails awfuy, in his scrape with
Duff Green, and his movement TO renew the US. Bank
charter.
Mr. Webb's principal apology and best excuse for
these awful defaleatons is was persuaded and adj
yised by Mr.. Lynch to do aad so." He is perfectly
right in atrbuling his misforunes to the persuasion
and advice Of others. He is the unfortunate victim
admit of seduction but Mr. Lynch is the first sedu-
Ger. Mr.. Lynch unfortunately for himself found our
old associate street walker in Wall street. seducsd ac
cording to ORDER completely without character but
with s5a725 in his pocket. How could any man resist
such temptation During the years that
associated with Mr.. Webb from 1929 to 1882, many
the lessons Of virtue and prudence and patriotism,
that instlled into his youthful, aniabe and suscep
Iblc mind. He was apt scholar far capacity
would CO. and drank in the draughts Of the Bennetto-
man philosophy far he could. In truth he might
been another Joseph fer purity and good luck-he
night have risen to be Chief Governor in the land of
Egypt, if that old but gay decever Major Noah-that
worse than Potphar's wife-had net come rampaging
nro the Office and captured our freads heart the
prospect Of loan Of $52,725 from the United States
Bank. Prince Henry could not Withstand Falstaf-
low could Mr.. Webb Withstand Major Noah, Silas E.