The herald., 1837-05-05
From the Bangor Da,Iy Post OF April 2s.l

Another RFAlLuRE-Tmothy Codscald OF this city,
we grleve to say yesterday struck upon, ana
obliged assign over for the benefit OF his cleditors
clap of thunder in the dead of winter, or snow
storm in fly time, would have CAUSED less consterna-
hon, and dread, than the appalling news on change
this morning that the immense house OF Coiuscald
had suspended payment. The amount OF his abI-
ties have yet been able TO ascertain. HIS as
sets variously estimated but his affairs are IN
that deranged state which inevitably follows overra
ding
MIR. Coldscald commenced his career IN tAls city, at
time when prudent men were collecting N Their
debts, cural!Eg their business and preparing Tor the
storm
The mercantile history of this gentleman is SO re-
markabe and show in bold relei so much OF the Jo-
nathan that we will relate il.
Mr.. Coldscald came to this city about year since
from pleasant little Indian village on the southwest
side OF Moosehead Lake called Mlchenungan, where
he was born and educated in the timber business
From his earliest childhood he was relglously taught
the difference between hard wood and soft, and
when but four years old, could distinguish the diff
fcrencebetwcen a scow and sap-roigh. AL the age
Of thirty (havlng learned to read) he informed himself
through the columns of the Peoples Press Ga paper
once published in this city, of the many wonderful
fortunes that had been made in day That men had
come hlther mere beggars, spent week IN changing
Jackets-swapng watches and horses for timber lands
and retSrned home in great alluence He had heard
OF the paupers who broke out of the Almshousc, and
IN the course Of the night made $500 apiece. Dang
II all, said Timothy what's the use Of staying here
IN fort-been thirty years layin' up tventy-tew dol
lars and tew cents, and never seed nothn but beass
and lngns neither I'll start rite oil for Bngor Oh
speculation by Gosh.
Two days after the making of this resolution there
might have been pcrambnlatng up and down
Main street. very TALL athletic man, with bell
crowned hat, which was all the go at Nlchenungan,
with par OF satlnet unmentionables with coat and
walstcoat OF the same. There was nothing remarka-
bic about the dress to business man Of those days.
although man of tdst:--some fortunate spcculator,
who had but few months before perhaps, shed a
similar suit might turn up his and find fault with
the pantaloons because they six inches above
his shoes, with his because the sleeves were
too short and tight and because the sun had turned
up IFS ta-but for all this Timothy cared not, his
mind was upon business, he was a cash man, although
II had cost HIM the monstrous sum of twenty tew
cents, since he left Mchenungan Timothy was in a
quandary whether he would open brokers' Office or
whether he would drive right into speculation by pur-
chasing a bond of the ninety ninth part of timber
township In Upper Canada. But on asceraining the
fact, through the columns Of the Peoples Press, that
Ia order 10 carry the banking business, no capital
was necessary-he Immediately fixed upon the latter
because ne could manage il without jeopardizng his
twenty tew dollars The first stop TO call upon
the engraver, TO buy some checks and dollar bills
Bat the engraver told him allowed to sell
paper dollars without the consent of the Legislature
Dang II all, guess there's no chance for me here
I'll have blowout and go strut home. Do you know
where can buy some cider and gingerbread? There
is a confectionery kept across the way Timothy
was toe much q man of business 10 ask the definition
OF hard words-n a moment he smacking his
lips and munchng his gingerb cad.
Mister, what do you call them ere things under
them glasses? I? Those ore oavas OF cake what
makes um look so white They are frosted is
that ere frost p 1t is sugar and flour melted ose-
thcr and put on 10 resemble Frost
To cut the matter Short Timothy went into the con-
dictionary business on banking principles. He Open
ed shop, and kept constantly on hand, large assert
ment of frosted wooden cakes and maheoony dougb.
NUT which ne advertised in the Peoples Press TO let
TO thoseiormnae persons who by spccsa,ion had be-
come suddenly rich IN the Perspectire but without the
present means 20 ndul e in the realities Of high life
Nr. Coldscad had not opened shop more than
month, before he was beset day and night with or
ders from scores and scores Of ladies' (aI moving in
the first clrcles) who too poor 10 bsy too we'll
known 70 get trusted, and too proud to sacrifice ap-
pearances.
Things went on swimngly with Mr. Cold.cald.
whose presence was now solicited 10 all the parties in
the first circles where they were owing him for past
and were looking forward f further indulgences.-
The twenty tew dollars had long since been invest
ed IN stock, and instead of calling in HI. dues as a
prudent man weuld have done Mr.. Coldscald thourst
OF nothing but the increase of business while the high
pressure on the nccessaries Of life lasted Like Mr.
BIddlc no tried TO relieve the market by an immense
expansion, and TO line his own pockets by the differ
encc OF the exchanges his loayes and The
raw material. Coldscad has failed for want Of bass
wood! When Bidde fails il will be for want of spe-
cic !! = -
While we are writing this, there seems 10 be set
tied gloom upon the countenances of all enerprisng
and industrious spectators whose liabilities 10 Mr.
CoIdscaid are 80 large, as TO drag them down with
him.
N. y. The Michenungan Wing and Courcr. New
ork Herald and New Orleans Bee, are requested 10
notice the above.